On 1 July 2014 the General Part of the Economic Activities Act (GPEAA) will enter into force. The GPEAA will significantly amend the procedure and requirements for starting economic activities:
- Under the GPEAA an undertaking starting business must notify the Register of Economic Activities, but absence of registration does not automatically lead to prohibition on starting business activity. Supervision of whether the requirements for economic activities are respected will be exercised only retroactively.
- The annual obligation to confirm the accuracy of registration with the Register of Economic Activities will be abolished.
- For economic activities that require an operating licence, a licence must still be obtained before starting business activity, although the amount of business activities that require an operating licence is reduced.
- A procedure is set out for cancellation of operating licences. An operating licence may be cancelled in the event of violation of the conditions of an operating licence or in the event of violation of diligence requirements. The GPEAA also allows prohibition on exercising economic activities due to intentional or systematic violations even if the violation as such would not lead to cancellation of the operating licence.
- The possibility to transfer an operating licence as part of the succession or transfer of an undertaking and merger or division of the company is set out.
The whole procedure necessary for starting economic activities, including applying for an operating licence, takes place via electronic databasewww.eesti.ee.