Liberalisation of Restrictions Regarding the Place of Residence of Members of Management Boards

Estonia's accession to the European Union on 1†May 2004 continue to produce changes in law. Provisions in the Treaty on European Union stipulate the principle of equal treatment for all residents of the European Union, including freedom of establishment for companies, and equal opportunities for enterprise. The Commercial Code, however, had required that at least half the members of a management board of a company established and registered in Estonia had to reside in Estonia. Such provisions restrict freedom of establishment and freedom of enterprise. On 16 December 2004, the Riigikogu adopted a law to amend the Commercial Code and other similar acts to address the problem. According to the amendments the place of residence in the future of at least half the members of a management board, must be in Estonia, some other member state of...

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