Eesti Firma OÜ is a licensed corporate services, as well as trust and company services provider (TCSP). Our license number is FIU000144. The license is issued in the name of the parent company Ühinenud Õigusbürood OÜ and fully applies to the activities of Eesti Firma OÜ. The activity of Eesti Firma OÜ is regulated and controlled by the Estonian Financial Intelligence Unit.
Eesti Firma OÜ, acting as a company registrar and provider of corporate services, is an obligated person within the meaning of the Money Laundering and Terrorist Financing Act, as well as the International Sanctions Act of the Republic of Estonia. This means that in the course of our activities and in providing services to our clients, we are obliged to adhere to the “Know Your Customer” (KYC) principle and apply effective due diligence measures.
Anti-money laundering and counter-terrorism financing
Anti-money laundering (AML) and counter-terrorism financing (CFT) is a set of measures aimed at preventing and stopping illegal actions for the legalization of criminal proceeds and financial support of terrorist organizations.
The combating against money laundering plays a key role in maintaining the stability and transparency of the global economic system. These measures help to prevent criminal activity, support the legality of financial transactions, and promote public safety and socio-economic well-being in general.
Main AML/CFT Measures
To ensure due measures against money laundering and terrorist financing, as well as compliance with restrictions imposed by international sanctions, Eesti Firma OÜ applies, among other things, the following procedures:
- Identification of the client and his representatives;
- Collection of information about the client and his (planned) activity;
- Understanding the client, incl. its ownership structure and purpose of using the services;
- Establishment of real beneficiaries;
- Checking for politically exposed person (PEP) status;
- Checking for inclusion in international sanctions lists.
Cooperation on the part of the client is an integral part of the KYC and AML/CFT procedures. Providing accurate information and readiness to support the effectiveness of due diligence measures helps to strengthen mutual trust and create a transparent and safe economic environment.
Prohibited customers and business relationships
Eesti Firma OÜ does not provide services or establish business relationships with the following persons:
- if it is not possible to apply to the person the due diligence measures required by law;
- if there is a suspicion that the person is involved or is otherwise associated with money laundering or terrorist financing;
- if more than 10 percent of the person’s capital consists of bearer shares or other bearer securities;
- if there is a reasonable suspicion that their activities are or may be illegal;
- if there is a reasonable suspicion of the person being a front or fictitious;
- if the person originates from or is strongly associated with a high-risk third country (EU Regulation 2016/1675).
Client Data Storage
In accordance with current legislation, we are obliged to store all information obtained from clients throughout the period of business relations, as well as for 5 years after their termination. We store all collected and received information in a reliable and safe manner and do not disclose it to any third parties.
The information about Eesti Firma OÜ clients may only be disclosed to (a) Eesti Firma OÜ contractual partners for the performance of obligations in the AML/CFT field (b) state institutions in cases stipulated by law, or (c) on the basis of a court decision
