2019 PUBLIC Estonia

Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized
Doing Business 2019

Estonia
Economy Profile
Estonia
Page 1
Doing Business 2019 Estonia
Economy Profile of Estonia
Doing Business 2019 Indicators

(in order of appearance in the document)
Starting a business Procedures, time, cost and paid-in minimum capital to start a limited liability company
Dealing with construction permits Procedures, time and cost to complete all formalities to build a warehouse and the quality
control and safety mechanisms in the construction permitting system
Getting electricity Procedures, time and cost to get connected to the electrical grid, and the reliability of the
electricity supply and the transparency of tariffs
Registering property Procedures, time and cost to transfer a property and the quality of the land administration
system
Getting credit Movable collateral laws and credit information systems
Protecting minority investors Minority shareholders’ rights in related-party transactions and in corporate governance
Paying taxes Payments, time, total tax and contribution rate for a firm to comply with all tax regulations as
well as post-filing processes
Trading across borders Time and cost to export the product of comparative advantage and import auto parts
Enforcing contracts Time and cost to resolve a commercial dispute and the quality of judicial processes
Resolving insolvency Time, cost, outcome and recovery rate for a commercial insolvency and the strength of the
legal framework for insolvency
Labor market regulation Flexibility in employment regulation and aspects of job quality
Page 2
About Doing Business
The Doing Business project provides objective measures of business regulations and their enforcement across 190 economies and selected
cities at the subnational and regional level.
The Doing Business project, launched in 2002, looks at domestic small and medium-size companies and measures the regulations applying
to them through their life cycle.
Doing Business captures several important dimensions of the regulatory environment as it applies to local firms. It provides quantitative
indicators on regulation for starting a business, dealing with construction permits, getting electricity, registering property, getting credit,
protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. Doing Business also
measures features of labor market regulation. Although Doing Business does not present rankings of economies on the labor market
regulation indicators or include the topic in the aggregate ease of doing business score or ranking on the ease of doing business, it does
present the data for these indicators.
By gathering and analyzing comprehensive quantitative data to compare business regulation environments across economies and over time,
Doing Business encourages economies to compete towards more efficient regulation; offers measurable benchmarks for reform; and serves
as a resource for academics, journalists, private sector researchers and others interested in the business climate of each economy.
In addition, Doing Business offers detailed subnational reports, which exhaustively cover business regulation and reform in different cities and
regions within a nation. These reports provide data on the ease of doing business, rank each location, and recommend reforms to improve
performance in each of the indicator areas. Selected cities can compare their business regulations with other cities in the economy or region
and with the 190 economies that Doing Business has ranked.
The first Doing Business report, published in 2003, covered 5 indicator sets and 133 economies. This year’s report covers 11 indicator sets
and 190 economies. Most indicator sets refer to a case scenario in the largest business city of each economy, except for 11 economies that
have a population of more than 100 million as of 2013 (Bangladesh, Brazil, China, India, Indonesia, Japan, Mexico, Nigeria, Pakistan, the
Russian Federation and the United States) where Doing Business also collected data for the second largest business city. The data for these
11 economies are a population-weighted average for the 2 largest business cities. The project has benefited from feedback from
governments, academics, practitioners and reviewers. The initial goal remains: to provide an objective basis for understanding and improving
the regulatory environment for business around the world.
More about Doing Business (PDF, 5MB)
Page 3
Ease of Doing Business in DB 2019 Rank

Region OECD high income
190 1
Estonia
Income Category High income 16
DB 2019 Ease of doing business score
Population 1,315,480
0 100
City Covered Tallinn 80.50
DB 2019 Ease of Doing Business Score
0 100
84.64: Denmark (Rank: 3)
80.83: Lithuania (Rank: 14)
80.50: Estonia (Rank: 16)
80.35: Finland (Rank: 17)
79.59: Latvia (Rank: 19)
77.80: Regional Average (OECD high income)
Note: The ease of doing business score captures the gap of each economy from the best regulatory performance observed on each of the indicators across all economies
in the Doing Business sample since 2005. An economy’s ease of doing business score is reflected on a scale from 0 to 100, where 0 represents the lowest and 100
represents the best performance. The ease of doing business ranking ranges from 1 to 190.
Rankings on Doing Business topics - Estonia
1 6
15 14 14 17 13
28
46 44 47
55
83
82
Rank
109
136
163
190
Starting Dealing Getting Registering Getting Protecting Paying Trading Enforcing Resolving
a with Electricity Property Credit Minority Taxes across Contracts Insolvency
Business Construction Investors Borders
Permits
Ease of Doing Business Score on Doing Business topics - Estonia
99.92
100 95.25
91.02 89.56
82.53 83.26
80 74.34
70.00
62.51
Score
60 56.67
40
20
Starting Dealing Getting Registering Getting Protecting Paying Trading Enforcing Resolving
a with Electricity Property Credit Minority Taxes across Contracts Insolvency
Business Construction Investors Borders
Permits
Page 4
Starting a Business
This topic measures the number of procedures, time, cost and paid-in minimum capital requirement for a small- to medium-sized limited
liability company to start up and formally operate in each economy’s largest business city.
To make the data comparable across 190 economies, Doing Business uses a standardized business that is 100% domestically owned, has
start-up capital equivalent to 10 times the income per capita, engages in general industrial or commercial activities and employs between 10
and 50 people one month after the commencement of operations, all of whom are domestic nationals. Starting a Business considers two
types of local limited liability companies that are identical in all aspects, except that one company is owned by 5 married women and the
other by 5 married men. The ranking of economies on the ease of starting a business is determined by sorting their scores for starting a
business. These scores are the simple average of the scores for each of the component indicators.
The most recent round of data collection for the project was completed in May 2018. See the methodology for more information.
What the indicators measure Case study assumptions
Procedures to legally start and formally operate To make the data comparable across economies, several assumptions about the
a company (number) business and the procedures are used. It is assumed that any required information is
readily available and that the entrepreneur will pay no bribes.
• Preregistration (for example, name verification or
reservation, notarization)
The business:
• Registration in the economy’s largest business - Is a limited liability company (or its legal equivalent). If there is more than one type
city
of limited liability company in the economy, the most common among domestic firms
• Postregistration (for example, social security is chosen. Information on the most common form is obtained from incorporation
registration, company seal) lawyers or the statistical office.
- Operates in the economy’s largest business city. For 11 economies the data are
• Obtaining approval from spouse to start a
business or to leave the home to register the also collected for the second largest business city.
company - The entire office space is approximately 929 square meters (10,000 square feet).
- Is 100% domestically owned and has five owners, none of whom is a legal entity;
• Obtaining any gender specific document for has a start-up capital of 10 times income per capita and has a turnover of at least
company registration and operation or national 100 times income per capita.
identification card
- Performs general industrial or commercial activities, such as the production or sale
of goods or services to the public. The business does not perform foreign trade
Time required to complete each procedure
activities and does not handle products subject to a special tax regime, for example,
(calendar days)
liquor or tobacco. It does not use heavily polluting production processes.
• Does not include time spent gathering - Leases the commercial plant or offices and is not a proprietor of real estate and the
information amount of the annual lease for the office space is equivalent to the income per
capita.
• Each procedure starts on a separate day (2
procedures cannot start on the same day) - Does not qualify for investment incentives or any special benefits.
- Has at least 10 and up to 50 employees one month after the commencement of
• Procedures fully completed online are recorded operations, all of whom are domestic nationals.
as ½ day - Has a company deed that is 10 pages long.
• Procedure is considered completed once final
document is received The owners:
• No prior contact with officials - Have reached the legal age of majority. If there is no legal age of majority, they are
assumed to be 30 years old.
Cost required to complete each procedure (% of - Are sane, competent, in good health and have no criminal record.
income per capita) - Are married and the marriage is monogamous and registered with the authorities.
- Where the answer differs according to the legal system applicable to the woman or
• Official costs only, no bribes man in question (as may be the case in economies where there is legal plurality), the
• No professional fees unless services required by answer used will be the one that applies to the majority of the population.
law or commonly used in practice
Paid-in minimum capital (% of income per

capita)
• Funds deposited in a bank or with third party

before registration or up to 3 months after
incorporation
Page 5
Starting a Business - Estonia
Standardized Company
Legal form Private Limited Company (osaühing or OÜ)
Paid-in minimum capital requirement EUR 2,500
City Covered Tallinn
Indicator Estonia OECD high Best Regulatory

income Performance
Procedure – Men (number) 3 4.9 1 (New Zealand)
Time – Men (days) 3.5 9.3 0.5 (New Zealand)
Cost – Men (% of income per capita) 1.1 3.1 0.0 (Slovenia)
Procedure – Women (number) 3 4.9 1 (New Zealand)
Time – Women (days) 3.5 9.3 0.5 (New Zealand)
Cost – Women (% of income per capita) 1.1 3.1 0.0 (Slovenia)
Paid-in min. capital (% of income per capita) 14.6 8.6 0.0 (117 Economies)
Figure – Starting a Business in Estonia and comparator economies – Ranking and Score
DB 2019 Starting a Business Score
0 100
Note: The ranking of economies on the ease of starting a business is determined by sorting their scores for starting a business. These scores
are the simple average of the scores for each of the component indicators.
Page 6
Figure – Starting a Business in Estonia – Procedure, Time and Cost
Time (days) Cost (% of income per capita)

3.5 1.2
Cost (% of income per capita)

1
2.5
0.8
Time (days)
2
0.6
1.5
0.4
1
0.2
0.5
0 0
1 2 *3
Procedures (number)
* This symbol is shown beside procedure numbers that take place simultaneously with the previous procedure.
Note: Online procedures account for 0.5 days in the total time calculation. For economies that have a different procedure list for men and
women, the graph shows the time for women. For more information on methodology, see the Doing Business website
(http://doingbusiness.org/en/methodology ). For details on the procedures reflected here, see the summary below.
Page 7
Details – Starting a Business in Estonia – Procedure, Time and Cost
No. Procedures Time to Complete Associated Costs
1 Check company name, submit the registration application to the Less than one day EUR 145 regular
Commercial Register and deposit initial capital (online procedure) registration or EUR
Agency : Commercial Registry 190 expedited
The entrepreneur can check proposed names online at www.rik.ee. The law provides that registration
the company business name shall be clearly distinguishable. It is also possible for
entrepreneurs to deposit the initial capital in a bank via online banking as part of
company registration process at the Commercial Register.
The costs of registration into the Commercial Register are EUR 145 for regular
registration or EUR 190 for expedited registration.
A separate registration with the National Social Insurance Board, which gets its
information from the Estonian Tax and Customs Board, is not required. Health insurance
in Estonia is through a compulsory scheme under which employers are obliged by law to
pay social tax (the source revenue for health insurance) for their employees. The rate of
social tax is 33% of the taxable amount. This tax must be paid by the tenth day of the
month following the taxable period, and the corresponding tax return must be submitted
to the local Tax and Customs Board office of the residence or seat of the payers of social
tax by the same date.
If the share capital is higher than EUR 25,000 the entrepreneur needs to deposit it in a
bank. However, if the decided share capital is not over EUR 25,000, it can be established
at the memorandum of association that the shareholders are not obliged to make pre-
payments for the shares.
In that case a shareholder does not make a payment for the share, it will be personally
liable to the company in the amount of his/her unpaid share contribution. In the last year,
more than 70% of the companies were founded without making pre-payments.
In order to be able to use a start-up bank account (opened for paying in the initial share
capital) for the company's day-to-day activities the management board member(s) of the
company (after the incorporation process has been completed) has/have to personally
apply (at the commercial bank) for transformation of the start-up bank account of the
company into a regular current account.
2 Register for VAT at the Estonian National Tax Board 3 days no charge
Agency : Estonian National Tax and Customs Board
The company must register itself as VAT payer if the taxable turnover of the company,
excluding imports of goods, exceeds EUR 40,000, as calculated from the beginning of the
calendar year. The VAT Act is available at
https://www.riigiteataja.ee/en/eli/ee/527022014003/consolide/current
The company’s management board must file an application for company registration,
making the company liable for VAT with the Tax and Customs Board, within 3 days as of
the date on which the taxable turnover of the company. The tax authority shall register a
person as a taxable person by entering the data concerning the person in the register of
taxable persons as on the date on which the registration obligation arose, within five
working days as of the receipt of the application. Registration may be (and in the
practice, often is) affected immediately after establishment.
According to subsection 20(1) of the Value-Added Tax Act, an application for

registration may be submitted through the information system of the commercial register
in a digitally signed format or applied to a notary for the preparation of an application and
submitted thereof through the information system of the e-notary.
3 Register employees with the Employment Register Less than one day no charge
Agency : Estonian Tax and Customs Board (online procedure,
On 1 July 2014 the amended Taxation Act establishing the employment register, where simultaneous with
all the natural and legal persons that work are required to register the persons employed previous procedure)
by them with the Estonian Tax and Customs Board, entered into force. Since that moment
the employers are not required to submit the data on the employed persons to the
Estonian Health Insurance Fund.
Commencement of the employment must be recorded latest by the moment when an
employee commnces the work. When terminating or suspending the employment,
employers have ten days to record the termination or suspension as of the day of
suspension or termination of the employment.
Takes place simultaneously with previous procedure.
Page 8
Dealing with Construction Permits
This topic tracks the procedures, time and cost to build a warehouse—including obtaining necessary the licenses and permits, submitting all
required notifications, requesting and receiving all necessary inspections and obtaining utility connections. In addition, the Dealing with
Construction Permits indicator measures the building quality control index, evaluating the quality of building regulations, the strength of
quality control and safety mechanisms, liability and insurance regimes, and professional certification requirements. The most recent round of
data collection was completed in May 2018. See the methodology for more information
Procedures to legally build a warehouse To make the data comparable across economies, several assumptions about the
(number) construction company, the warehouse project and the utility connections are used.
• Submitting all relevant documents and obtaining The construction company (BuildCo):
all necessary clearances, licenses, permits and
certificates - Is a limited liability company (or its legal equivalent) and operates in the economy’s
largest business city. For 11 economies the data are also collected for the second
• Submitting all required notifications and receiving largest business city.
all necessary inspections
- Is 100% domestically and privately owned; has five owners, none of whom is a
• Obtaining utility connections for water and legal entity. Has a licensed architect and a licensed engineer, both registered with
sewerage the local association of architects or engineers. BuildCo is not assumed to have any
• Registering and selling the warehouse after its other employees who are technical or licensed experts, such as geological or
completion topographical experts.
- Owns the land on which the warehouse will be built and will sell the warehouse
Time required to complete each procedure upon its completion.
(calendar days)
The warehouse:
• Does not include time spent gathering
information - Will be used for general storage activities, such as storage of books or stationery.
- Will have two stories, both above ground, with a total constructed area of
• Each procedure starts on a separate day— approximately 1,300.6 square meters (14,000 square feet). Each floor will be 3
though procedures that can be fully completed
meters (9 feet, 10 inches) high and will be located on a land plot of approximately
online are an exception to this rule
929 square meters (10,000 square feet) that is 100% owned by BuildCo, and the
• Procedure is considered completed once final warehouse is valued at 50 times income per capita.
document is received - Will have complete architectural and technical plans prepared by a licensed
architect. If preparation of the plans requires such steps as obtaining further
• No prior contact with officials
documentation or getting prior approvals from external agencies, these are counted
Cost required to complete each procedure (% of as procedures.
income per capita) - Will take 30 weeks to construct (excluding all delays due to administrative and
regulatory requirements).
• Official costs only, no bribes
The water and sewerage connections:
Building quality control index (0-15)
- Will be 150 meters (492 feet) from the existing water source and sewer tap. If there
• Quality of building regulations (0-2) is no water delivery infrastructure in the economy, a borehole will be dug. If there is
• Quality control before construction (0-1) no sewerage infrastructure, a septic tank in the smallest size available will be
installed or built.
• Quality control during construction (0-3) - Will have an average water use of 662 liters (175 gallons) a day and an average
• Quality control after construction (0-3) wastewater flow of 568 liters (150 gallons) a day. Will have a peak water use of
1,325 liters (350 gallons) a day and a peak wastewater flow of 1,136 liters (300
• Liability and insurance regimes (0-2) gallons) a day.
• Professional certifications (0-4) - Will have a constant level of water demand and wastewater flow throughout the
year; will be 1 inch in diameter for the water connection and 4 inches in diameter for
the sewerage connection.
Page 9
Dealing with Construction Permits - Estonia
Standardized Warehouse
Estimated value of warehouse EUR 856,807.90

income Performance
Procedures (number) 10 12.7 None in 2017/18
Time (days) 103 153.1 None in 2017/18
Cost (% of warehouse value) 0.2 1.5 None in 2017/18
Building quality control index (0-15) 11.0 11.5 15.0 (3 Economies)
Figure – Dealing with Construction Permits in Estonia and comparator economies – Ranking and Score
DB 2019 Dealing with Construction Permits Score
0 100
Note: The ranking of economies on the ease of dealing with construction permits is determined by sorting their scores for dealing with
construction permits. These scores are the simple average of the scores for each of the component indicators.
Figure – Dealing with Construction Permits in Estonia – Procedure, Time and Cost
Time (days) Cost (% of warehouse value)

0.14
100
0.12
Cost (% of warehouse value)
80
0.1
Time (days)
60 0.08
0.06
40
0.04
20
0.02
0 0
1 *2 *3 *4 5 6 7 8 9 10
Procedures (number)
Page 10
Figure – Dealing with Construction Permits in Estonia and comparator economies – Measure of Quality
15
13.0
12.0 11.5
11.0 11.0
Index score 10.0
10
Estonia Denmark Finland Latvia Lithuania OECD high income
Details – Dealing with Construction Permits in Estonia – Procedure, Time and Cost
1 Obtain project clearance from Fire Department 30 days no charge

Agency : Fire Department
According to the Rescue Act of 2010, obtaining fire safety clearance for the building
project from the National Rescue Service Agency or a local government rescue service
should take 10 days. However in practice it takes 30 days. If the building project does not
conform to the fire safety rules, the Rescue Service can decide to give on average five
workdays to eliminate deficiencies.
2 Obtain project clearance from Environment Department 29 days no charge

Agency : Environment Department
The Environmental Impact Assessment and Environmental Management System Act
entered into effect on April 3, 2005, providing legal bases and procedures for assessing
likely environmental impact, organization of eco-management and audit schemes, and the
legal bases for awarding eco-labels to prevent environmental damage.
The environmental impact shall be assessed upon application for, or application for
amendment of, a development consent (a building permit or a permit for the building
use), if the proposed activity, which is the basis for the application for, or the amendment
of, the development consent, potentially results in significant environmental impact. A
person who proposes an activity and intends to carry it out shall organize an
environmental impact assessment and carry all the resulting expenses.
It is up to the local municipality to decide whether it is at all necessary to assess the

environmental impact of the project. There are two types of grounds for requiring an
environmental impact assessment to be carried out. First of all there are instances in
which it is obligatory to conduct environmental impact assessment. The hypothetical
warehouse project should not qualify under this category. The second category is such
that the local municipality is required to consider whether an environmental impact
assessment is needed or not and if the local municipality decides that it is necessary, it
must give reasons for such a decision. The hypothetical warehouse project might qualify
under this category if for example considered to be (a part of) an industrial area
development. Besides the fact that it is in hands of municipality to make a decision, there
are no clear definitions on what does not exactly fall into category of projects that do not
qualify for Environmental Impact Assessment (EIA). It is likely BuildCo would need to
obtain a clearance but not the full scale EIA approval.
The Environmental Impact Assessment and Environmental Management System Act

established a term of 30 days for issuing a decision to approve the environmental impact
assessment report. The time may vary from 30 days to 1 year for actual EIA approval
both from Municipality and Environmental Supervisory Authority. It would also include
a period of public hearing. However, since we are just getting a project clearance for a
relatively simple project, the procedure should be completed within 30 days.
3 Obtain project clearance from Health Care Department 28 days no charge

Agency : Health Care Department
A clearance for the building project from the Health Care Department is not required.
However, this authority may be consulted by the local government before granting or
refusing the building permit. In practice, the local government may ask the applicant to
personally communicate with these authorities. There is no time limits for such
communication. Further, the Health Care Department has the right to perform state
supervision over compliance with occupational health requirements when the warehouse
is put into use.
Page 11
4 Obtain project clearance from Labor Inspections Department 27 days no charge

Agency : Labor Inspections Department
A clearance for the building project from the Labor Inspections Department is not
required by law in the stage prior to approval of the building permit. However, this
authority may be consulted by the local government before granting or refusing the
building permit. In practice, the local government may ask the applicant to personally
communicate with these authorities. The Labor Inspectorate has the right to perform state
supervision over compliance with occupational safety requirements during construction
and when the warehouse is put into use. According to Occupational Health and Safety
Act, Paragraph 13, the employer is obliged to notify the local department of the Labor
Inspectorate in writing or in a format which can be reproduced in writing before
commencing activities. The notification can also be made also via the Customer Portal of
the Labor Inspectorate (https://eti.ti.ee/login/index?redir=true).
Paragraph 26 provides that after receiving the notification, an inspector has the obligation
to carry out an inspection. The employee of the Labor Inspectorate must set up the time
of inspection with the owner of the building, but in extraordinary situations, the inspector
has the right to commence supervision without informing the employer in advance.
5 Obtain building permit 25 days EUR 585

Agency : Municipality
To obtain a building permit from the Municipality, BuildCo must submit an application
for a construction permit and construction design documentation. According to the
Building Act, the local government must approve or refuse the issuance of a building
permit within 20 days from the date on which the application for the building permit and
the building design documentation are submitted. The Municipality conducts internal
consultations with various departments and agencies. However in practice, BuildCo is
likely to follow up with these authorities.
Since June 2009, an energy certificate for the new building must be included in the
application. The energy audit is assumed to be conducted by the engineers of the newly
built warehouse.
Prior to construction, BuildCo must notify the Municipality that construction will begin.
6 Receive on-site inspection by Municipality 1 day no charge

During construction, the Municipality may monitor the work to verify compliance with
the requirements. If the construction does not comply with the applicable rules and
regulations, the construction will be stopped.
7 Receive on-site inspection by Estonian Technical Surveillance Authority 1 day no charge

Agency : Technical Surveillance Authority
According to the amendment of Building Act from January 1, 2008 Estonian Technical
Surveillance Authority may carry out state surveillance on construction sites, in addition
to the surveillance exercised by the Municipality. Before the building is being used or in
case of an emergency in a building that is already in use, the Estonian Technical
Surveillance Authority does not have to inform the owner about the inspection
beforehand. In other situations, the owner must be notified at least 24 hours in advance.
The number of inspections is not limited by law -- it is up to the discretion of the

Technical Surveillance Authority. However it should comply with the principles of good
administration practices. The costs of the evaluation services, of the expert assessment of
building design documentation and of the evaluation of construction works ordered to
verify conformity to the requirements are borne by the Technical Surveillance Authority.
If it is established that the construction works or building design documentation do not
conform to the established requirements, the owner of the construction works has to
compensate the Technical Surveillance Authority for the costs of the evaluation services
ordered to verify conformity to the requirements, including the costs of expert assessment
or evaluation.
8 Apply for permit of use and request final inspection from Municipality 1 day EUR 64
The local municipality has discretion as to which agencies can be engaged in the
inspection before the permit to use the building is issued. According to the law, the local
municipality must issue a permit to use the building (or issue a refusal to not use the
building) within 30 days from the date on which the last document necessary for the issue
of the permit is submitted. BuildCo would have the right to file an action to the
administrative court in case the 30-day limit is not respected. In practice though few
companies file lawsuits against the authorities.
9 Receive final inspection from Municipality and obtain permit of use 25 days no charge
The date and the time of the final inspection is agreed between the builder and the
municipal authority. The permit for use is not issued before the final inspection is carried
out.
Page 12
10 Obtain water and sewerage connection 20 days EUR 1,131

Agency : AS Tallina Vesi
Page 13
Details – Dealing with Construction Permits in Estonia – Measure of Quality
Answer Score
Building quality control index (0-15) 11.0
Quality of building regulations index (0-2) 2.0
How accessible are building laws and regulations in your economy? (0-1) Available online; 1.0
Free of charge.
Which requirements for obtaining a building permit are clearly specified in the building List of required 1.0
regulations or on any accessible website, brochure or pamphlet? (0-1) documents; Fees
to be paid;
Required
preapprovals.
Quality control before construction index (0-1) 1.0
Which third-party entities are required by law to verify that the building plans are in Licensed 1.0
compliance with existing building regulations? (0-1) engineer.
Quality control during construction index (0-3) 3.0
What types of inspections (if any) are required by law to be carried out during construction? Inspections by in- 2.0
(0-2) house engineer;
Unscheduled
inspections; Risk-
based
inspections.
Do legally mandated inspections occur in practice during construction? (0-1) Mandatory 1.0
inspections are
always done in
practice.
Quality control after construction index (0-3) 3.0
Is there a final inspection required by law to verify that the building was built in accordance Yes, final 2.0
with the approved plans and regulations? (0-2) inspection is
done by
government
agency.
Do legally mandated final inspections occur in practice? (0-1) Final inspection 1.0
always occurs in
practice.
Liability and insurance regimes index (0-2) 1.0
Which parties (if any) are held liable by law for structural flaws or problems in the building Architect or 1.0
once it is in use (Latent Defect Liability or Decennial Liability)? (0-1) engineer;
Professional in
charge of the
supervision;
Construction
company.
Which parties (if any) are required by law to obtain an insurance policy to cover possible No party is 0.0
structural flaws or problems in the building once it is in use (Latent Defect Liability Insurance required by law
or Decennial Insurance)? (0-1) to obtain
insurance .
Professional certifications index (0-4) 1.0
What are the qualification requirements for the professional responsible for verifying that the University degree 0.0
architectural plans or drawings are in compliance with existing building regulations? (0-2) in architecture or
engineering.
What are the qualification requirements for the professional who supervises the construction Minimum number 1.0
on the ground? (0-2) of years of
experience;
University degree
in engineering,
construction or
construction
management.
Page 14
Getting Electricity
This topic measures the procedures, time and cost required for a business to obtain a permanent electricity connection for a newly
constructed warehouse. Additionally, the reliability of supply and transparency of tariffs index measures reliability of supply, transparency of
tariffs and the price of electricity. The most recent round of data collection for the project was completed in May 2018. See the methodology
for more information.
Procedures to obtain an electricity connection To make the data comparable across economies, several assumptions about the
(number) warehouse, the electricity connection and the monthly consumption are used.
• Submitting all relevant documents and obtaining The warehouse:

all necessary clearances and permits
- Is owned by a local entrepreneur and is used for storage of goods.
• Completing all required notifications and - Is located in the economy’s largest business city. For 11 economies the data are
receiving all necessary inspections
also collected for the second largest business city.
• Obtaining external installation works and possibly - Is located in an area where similar warehouses are typically located and is in an
purchasing material for these works area with no physical constraints. For example, the property is not near a railway.
- Is a new construction and is being connected to electricity for the first time.
• Concluding any necessary supply contract and
obtaining final supply - Has two stories with a total surface area of approximately 1,300.6 square meters
(14,000 square feet). The plot of land on which it is built is 929 square meters
Time required to complete each procedure (10,000 square feet).
(calendar days)
The electricity connection:
• Is at least 1 calendar day
- Is a permanent one with a three-phase, four-wire Y connection with a subscribed
• Each procedure starts on a separate day capacity of 140-kilo-volt-ampere (kVA) with a power factor of 1, when 1 kVA = 1
• Does not include time spent gathering kilowatt (kW).
information - Has a length of 150 meters. The connection is to either the low- or medium-voltage
distribution network and is either overhead or underground, whichever is more
• Reflects the time spent in practice, with little common in the area where the warehouse is located and requires works that involve
follow-up and no prior contact with officials
the crossing of a 10-meter road (such as by excavation or overhead lines) but are all
Cost required to complete each procedure (% of carried out on public land. There is no crossing of other owners’ private property
income per capita) because the warehouse has access to a road.
- Does not require work to install the internal wiring of the warehouse. This has
• Official costs only, no bribes already been completed up to and including the customer’s service panel or
• Value added tax excluded switchboard and the meter base.
The reliability of supply and transparency of The monthly consumption:

tariffs index (0-8)
- It is assumed that the warehouse operates 30 days a month from 9:00 a.m. to 5:00
• Duration and frequency of power outages (0–3) p.m. (8 hours a day), with equipment utilized at 80% of capacity on average and that
• Tools to monitor power outages (0–1) there are no electricity cuts (assumed for simplicity reasons) and the monthly energy
consumption is 26,880 kilowatt-hours (kWh); hourly consumption is 112 kWh.
• Tools to restore power supply (0–1) - If multiple electricity suppliers exist, the warehouse is served by the cheapest
• Regulatory monitoring of utilities’ performance supplier.
(0–1) - Tariffs effective in January of the current year are used for calculation of the price of
electricity for the warehouse. Although January has 31 days, for calculation
• Financial deterrents limiting outages (0–1) purposes only 30 days are used.
• Transparency and accessibility of tariffs (0–1)
Price of electricity (cents per kilowatt-hour)*
• Price based on monthly bill for commercial

warehouse in case study
*Note: Doing Business measures the price of

electricity, but it is not included in the ease of doing
business score nor the ranking on the ease of
getting electricity.
Page 15
Getting Electricity - Estonia
Standardized Connection
Price of electricity (US cents per kWh) 8.5
Name of utility Elektrilevi OÜ

income Performance
Procedures (number) 5 4.5 3 (25 Economies)
Time (days) 91 77.2 18 (3 Economies)
Cost (% of income per capita) 154.2 64.2 0.0 (3 Economies)
Reliability of supply and transparency of tariff index (0-8) 8 7.5 8.0 (27 Economies)
Figure – Getting Electricity in Estonia and comparator economies – Ranking and Score
DB 2019 Getting Electricity Score
0 100
Note: The ranking of economies on the ease of getting electricity is determined by sorting their scores for getting electricity. These scores are
the simple average of the scores for all the component indicators except the price of electricity.
Page 16
Figure – Getting Electricity in Estonia – Procedure, Time and Cost
Time (days) Cost (% of income per capita)

90 140
80
120
Cost (% of income per capita)

70
100
60
Time (days)
80
50
40 60
30
40
20
20
10
0 0
1 2 *3 4 5
Procedures (number)
Figure – Getting Electricity in Estonia and comparator economies – Measure of Quality
8 8 8
8 7.5
7 7
7
6
Index score
5
4
3
2
1
0
Page 17
Details – Getting Electricity in Estonia – Procedure, Time and Cost
1 Submit application to Elektrilevi OÜ and await estimate and technical 12 calendar days EUR 0
conditions
Agency : Elektrilevi OÜ
After determining the fuse size and the location of the subscription shield the customer
submits an application for a connection.
The application can be submitted in person, by e-mail and through e-services on the
utility's website. After submitting the application, a technical solution based on the data
in the application and a contract offer are presented to the customer by Elektrilevi OÜ. .
There is an external inspection during this time period by Elektrilevi OÜ but no one from
the applicant’s party is required to be present during the inspection.
2 Pay estimate and await completion of external works by Elektrilevi OÜ 75 calendar days EUR 20,852.45
Once the estimate is received the connection agreement together with the supply contract
can be concluded at the customer service centre. After the conclusion of the contract, an
invoice for making the first installment payment is sent.
Once the fee is received, the necessary works for the connection are carried out by
Elektrilevi OÜ.
The customer is notified of the completion of the external works and is presented with the
second installment for the connection fees which must be paid within 14 days.
3 Receive internal wiring inspection by independent inspector 3 calendar days EUR 350
Agency : Internal wiring inspector
According to the Electrical Safety Act, an independent electrical inspector with a special
permit for internal wiring inspections, must conduct an inspection of the internal wiring
to check for compliance with the law. If the internal wiring is in compliance and
conforms to the requirements, the independent electrical inspection issues a notice on the
conformity, whichis submitted to the customer service centre or sent by post to Elektrilevi
OÜ
4 Sign supply contract with electricity retailer 2 calendar days EUR 0

Agency : Electricity retailer
When the connection fee is paid, the customer can conclude a network and electricity
supply contract. Supply contract can be concluded with any supplier of electricity
operating in Estonia's competitive market.
5 Await final connection from Elektrilevi OÜ 2 calendar days EUR 5,213.11

Once the supply and the connection contracts are signed and the internal wiring tests are
completed, the building will be connected to the power supply network.
Page 18
Details – Getting Electricity in Estonia – Measure of Quality
Answer
Reliability of supply and transparency of tariff index (0-8) 8
Total duration and frequency of outages per customer a year (0-3) 3
System average interruption duration index (SAIDI) 0.3
System average interruption frequency index (SAIFI) 0.3
What is the minimum outage time (in minutes) that the utility considers for the calculation of SAIDI/SAIFI 3.0
Mechanisms for monitoring outages (0-1) 1
Does the distribution utility use automated tools to monitor outages? Yes
Mechanisms for restoring service (0-1) 1
Does the distribution utility use automated tools to restore service? Yes
Regulatory monitoring (0-1) 1
Does a regulator—that is, an entity separate from the utility—monitor the utility’s performance on reliability of Yes
supply?
Financial deterrents aimed at limiting outages (0-1) 1
Does the utility either pay compensation to customers or face fines by the regulator (or both) if outages Yes
exceed a certain cap?
Communication of tariffs and tariff changes (0-1) 1
Are effective tariffs available online? Yes
Link to the website, if available online https://www.elektrilev

i.ee/ru/hinnakiri
Are customers notified of a change in tariff ahead of the billing cycle? Yes
Note:
If the duration and frequency of outages is 100 or less, the economy is eligible to score on the Reliability of supply and transparency of tariff
index.
If the duration and frequency of outages is not available, or is over 100, the economy is not eligible to score on the index.
If the minimum outage time considered for SAIDI/SAIFI is over 5 minutes, the economy is not eligible to score on the index.
Page 19
Registering Property
This topic examines the steps, time and cost involved in registering property, assuming a standardized case of an entrepreneur who wants to
purchase land and a building that is already registered and free of title dispute. In addition, the topic also measures the quality of the land
administration system in each economy. The quality of land administration index has five dimensions: reliability of infrastructure, transparency
of information, geographic coverage, land dispute resolution, and equal access to property rights. The most recent round of data collection for
the project was completed in May 2018. See the methodology for more information.
Procedures to legally transfer title on To make the data comparable across economies, several assumptions about the
immovable property (number) parties to the transaction, the property and the procedures are used.
• Preregistration procedures (for example, The parties (buyer and seller):

checking for liens, notarizing sales agreement,
paying property transfer taxes) - Are limited liability companies (or the legal equivalent).
- Are located in the periurban area of the economy’s largest business city. For 11
• Registration procedures in the economy's largest economies the data are also collected for the second largest business city.
business city.
- Are 100% domestically and privately owned.
• Postregistration procedures (for example, filling - Have 50 employees each, all of whom are nationals.
title with municipality) - Perform general commercial activities.
Time required to complete each procedure The property (fully owned by the seller):
(calendar days)
- Has a value of 50 times income per capita, which equals the sale price.
• Does not include time spent gathering - Is fully owned by the seller.
information - Has no mortgages attached and has been under the same ownership for the past
• Each procedure starts on a separate day - 10 years.
though procedures that can be fully completed - Is registered in the land registry or cadastre, or both, and is free of title disputes.
online are an exception to this rule - Is located in a periurban commercial zone, and no rezoning is required.
- Consists of land and a building. The land area is 557.4 square meters (6,000
• Procedure is considered completed once final square feet). A two-story warehouse of 929 square meters (10,000 square feet) is
document is received
located on the land. The warehouse is 10 years old, is in good condition, has no
• No prior contact with officials heating system and complies with all safety standards, building codes and legal
requirements. The property, consisting of land and building, will be transferred in its
Cost required to complete each procedure (% of entirety.
property value) - Will not be subject to renovations or additional construction following the purchase.
• Official costs only (such as administrative fees, - Has no trees, natural water sources, natural reserves or historical monuments of
duties and taxes). any kind.
- Will not be used for special purposes, and no special permits, such as for
• Value Added Tax, Capital Gains Tax and illicit residential use, industrial plants, waste storage or certain types of agricultural
payments are excluded activities, are required.
- Has no occupants, and no other party holds a legal interest in it.
Quality of land administration index (0-30)
• Reliability of infrastructure index (0-8)

• Transparency of information index (0–6)
• Geographic coverage index (0–8)
• Land dispute resolution index (0–8)
• Equal access to property rights index (-2–0)
Page 20
Registering Property - Estonia

income Performance
Procedures (number) 3 4.7 1 (4 Economies)
Time (days) 17.5 20.1 1 (New Zealand)
Cost (% of property value) 0.5 4.2 0.0 (Saudi Arabia)
Quality of the land administration index (0-30) 27.5 23.0 None in 2017/18
Figure – Registering Property in Estonia and comparator economies – Ranking and Score
DB 2019 Registering Property Score
0 100
Note: The ranking of economies on the ease of registering property is determined by sorting their scores for registering property. These
scores are the simple average of the scores for each of the component indicators.
Figure – Registering Property in Estonia – Procedure, Time and Cost
Time (days) Cost (% of property value)

0.35
16
0.3
Cost (% of property value)

14
0.25
12
Time (days)
10 0.2
8
0.15
6
0.1
4
0.05
2
0 0
1 2 3
Procedures (number)
Page 21
Figure – Registering Property in Estonia and comparator economies – Measure of Quality
30 27.5 28.5
26.5
24.5
25 23.0
21.5
Index score
20
15
10
Details – Registering Property in Estonia – Procedure, Time and Cost
1 A notary prepares the Sale-purchase Agreement & the Agreement on 9 days EUR 2,526.83;
Transfer of the Ownership of the Real Estate, and the parties sign it at the (Notary fee according
notary’s office to the Notary Fees
Agency : Notary Act (Part 3 Article 22)
Pursuant to Estonian law, it is mandatory that all transactions related to the transfer of
is EUR 958.65 +
real estate are notarized by a notary public. The parties may prepare the sale and purchase
0.14% of the amount
agreement in accordance with the laws of the Republic of Estonia. However, the notary
of the transaction
will review it and if the agreement is not in accordance with the law, then the notary will
amend the agreement or ask parties of the agreement to modify the agreement in value exceeding EUR
accordance with the law, since the notary is financially liable for any potential mistakes 639,120. As this is a
or law violations. Copies of all documents related to the agreement (transaction data, case of a bilateral
power of attorneys, documents concerning acquisition of the property, copies of identity transaction the notary
documents, etc) shall be delivered to the notary’s office 3-4 days before the conclusion if fee for certifying the
the agreement. All originals shall be submitted to the notary on the day of the conclusion transaction is double
of the agreement. In case a document has not been issued in the Republic of Estonia, the the full fee)
document shall be certified by an apostille or legalized and translated into Estonian prior
to the conclusion of the agreement. Since 2007 notaries use the E-Notary program which
facilitates the preparation of notarial deeds. E-Notary offers contract templates and
necessary data about parties to and object of a transaction come from different registers.
By entering personal identification code or the name of a person into the box of details of
the party, E-Notary finds the respective individual and completes, based on the data of the
Population Register, the rest of the blank boxes - name etc. Upon the entry of registered
immovable number, E-Notary finds and displays, based on the data of the electronic Land
Register, other data related to the registered immovable – address, area etc. Once the
contract is signed, the notary makes digital copy of the contract and the contract is thereof
forwarded electronically to the Land Register.
2 Payment of the state fee (stamp duty) at a commercial bank Less than one day, EUR 1,370.89; (If the
Agency : Commercial Bank online transaction value is
The state fee for making the changes in the Land Register must be paid prior to applying more than EUR
for registration. 639,120, the full state
fee rate of 0.16% of
the transaction value
will apply but not
more than EUR
2,560). (Appendix 2,
State Fees Act of
01.01.2015))
3 A notarized application is filed to the Land Register and corresponding 8 days Already paid in
entries are made to the Land Register Procedure 2
Agency : Land Register
The notarized application to the Land Register is filed to transfer the ownership of the
real estate to the buyer in the Land Register Book. As of June 1, 2007, this application
can be filed online through the "e-notary" system which allows the notary to submit the
application electronically without using any paper application. Computerization of
property records at the Land Registry have been ongoing for a few years has finally been
completed at the end of 2008. Land Register shall publish a register notice regarding a
Real Estate, which has not yet been entered in the Land Register only before opening a
register part for an immovable in the register. The notice is published in the official
publication Ametlikud Teadaanded and, if necessary, in any other manner available to the
persons concerned. In case the Real Estate is already registered in the Land Register (as
in this case), no publication is necessary. The documentation shall include: (i) Notarized
Sale Purchase Agreement and Agreement of the Transfer of the Ownership of Real Estate
(obtained in Procedure 1). (ii) Receipt of payment of state fee (obtained in Procedure 2)
Page 22
Details – Registering Property in Estonia – Measure of Quality
Answer Score
Reliability of infrastructure index (0-8) 8.0
What is the institution in charge of immovable property registration? Land Register

Department of
Tartu County
Court
In what format are the majority of title or deed records kept in the largest business city—in a Computer/Fully 2.0
paper format or in a computerized format (scanned or fully digital)? digital
Is there an electronic database for checking for encumbrances (liens, mortgages, restrictions Yes 1.0
and the like)?
Institution in charge of the plans showing legal boundaries in the largest business city: Estonian Land
Board
In what format are the majority of maps of land plots kept in the largest business city—in a Computer/Fully 2.0
paper format or in a computerized format (scanned or fully digital)? digital
Is there an electronic database for recording boundaries, checking plans and providing Yes 1.0
cadastral information (geographic information system)?
Is the information recorded by the immovable property registration agency and the cadastral Different 1.0
or mapping agency kept in a single database, in different but linked databases or in separate databases but
databases? linked
Do the immovable property registration agency and cadastral or mapping agency use the Yes 1.0
same identification number for properties?
Transparency of information index (0–6) 4.0
Who is able to obtain information on land ownership at the agency in charge of immovable Anyone who 1.0
property registration in the largest business city? pays the official
fee
Is the list of documents that are required to complete any type of property transaction made Yes, online 0.5
publicly available–and if so, how?
Link for online access: https://www.riigite

ataja.ee/en/eli/ee
/501072015002/c
onsolide/current
Is the applicable fee schedule for any property transaction at the agency in charge of Yes, online 0.5
immovable property registration in the largest business city made publicly available–and if
so, how?
Link for online access: https://www.riigite

ataja.ee/tolkelisa/
5190/2201/6005/
2.pdf#
Does the agency in charge of immovable property registration commit to delivering a legally Yes, online 0.5
binding document that proves property ownership within a specific time frame–and if so, how
does it communicate the service standard?
Link for online access: www.riigiteataja.e

e. According to
the law, any
actions must be
done within 30
days.
Is there a specific and separate mechanism for filing complaints about a problem that No 0.0
occurred at the agency in charge of immovable property registration?
Contact information:
Are there publicly available official statistics tracking the number of transactions at the Yes 0.5
immovable property registration agency?
Number of property transfers in the largest business city in 2017: 63115.0
Page 23
Who is able to consult maps of land plots in the largest business city? Freely accessible 0.5
by anyone
Is the applicable fee schedule for accessing maps of land plots made publicly available— No cost 0.5
and if so, how?
Link for online access: http://xgis.maaa

met.ee/maps/XGi
s?
app_id=UU82A&
user_id=at&LAN
G=2&WIDTH=13
00&HEIGHT=720
&zlevel=0,55250
0,6505000
Does the cadastral or mapping agency commit to delivering an updated map within a No 0.0
specific time frame—and if so, how does it communicate the service standard?
Link for online access: http://geoportaal.

maaamet.ee/eng/
Is there a specific and separate mechanism for filing complaints about a problem that No 0.0
occurred at the cadastral or mapping agency?
Contact information:
Geographic coverage index (0–8) 8.0
Are all privately held land plots in the economy formally registered at the immovable property Yes 2.0
registry?
Are all privately held land plots in the largest business city formally registered at the Yes 2.0
immovable property registry?
Are all privately held land plots in the economy mapped? Yes 2.0
Are all privately held land plots in the largest business city mapped? Yes 2.0
Land dispute resolution index (0–8) 7.5
Does the law require that all property sale transactions be registered at the immovable Yes 1.5
property registry to make them opposable to third parties?
Is the system of immovable property registration subject to a state or private guarantee? Yes 0.5
Is there a specific compensation mechanism to cover for losses incurred by parties who No 0.0
engaged in good faith in a property transaction based on erroneous information certified by
the immovable property registry?
Does the legal system require a control of legality of the documents necessary for a property Yes 0.5
transaction (e.g., checking the compliance of contracts with requirements of the law)?
If yes, who is responsible for checking the legality of the documents? Registrar; Notary.
Does the legal system require verification of the identity of the parties to a property Yes 0.5
transaction?
If yes, who is responsible for verifying the identity of the parties? Notary.
Is there a national database to verify the accuracy of identity documents? Yes 1.0
For a standard land dispute between two local businesses over tenure rights of a property Harju County
worth 50 times gross national income (GNI) per capita and located in the largest business Court
city, what court would be in charge of the case in the first instance?
How long does it take on average to obtain a decision from the first-instance court for such a Less than a year 3.0
case (without appeal)?
Are there any statistics on the number of land disputes in the first instance? Yes 0.5
Number of land disputes in the largest business city in 2017: 389 cases
Equal access to property rights index (-2–0) 0.0
Do unmarried men and unmarried women have equal ownership rights to property? Yes
Do married men and married women have equal ownership rights to property? Yes 0.0
Page 24
Getting Credit
This topic explores two sets of issues—the strength of credit reporting systems and the effectiveness of collateral and bankruptcy laws in
facilitating lending. The most recent round of data collection for the project was completed in May 2018. See the methodology for more
information.
Strength of legal rights index (0–12) Doing Business assesses the sharing of credit information and the legal rights of
borrowers and lenders with respect to secured transactions through 2 sets of
• Rights of borrowers and lenders through indicators. The depth of credit information index measures rules and practices
collateral laws (0-10)
affecting the coverage, scope and accessibility of credit information available
• Protection of secured creditors’ rights through through a credit registry or a credit bureau. The strength of legal rights index
bankruptcy laws (0-2) measures the degree to which collateral and bankruptcy laws protect the rights of
borrowers and lenders and thus facilitate lending. For each economy it is first
Depth of credit information index (0–8) determined whether a unitary secured transactions system exists. Then two case
• Scope and accessibility of credit information scenarios, case A and case B, are used to determine how a nonpossessory security
distributed by credit bureaus and credit registries interest is created, publicized and enforced according to the law. Special emphasis
(0-8) is given to how the collateral registry operates (if registration of security interests is
possible). The case scenarios involve a secured borrower, company ABC, and a
Credit bureau coverage (% of adults) secured lender, BizBank.
• Number of individuals and firms listed in largest In some economies the legal framework for secured transactions will allow only case
credit bureau as a percentage of adult population
A or case B (not both) to apply. Both cases examine the same set of legal provisions
Credit registry coverage (% of adults) relating to the use of movable collateral.
• Number of individuals and firms listed in credit Several assumptions about the secured borrower (ABC) and lender (BizBank)
registry as a percentage of adult population are used:
- ABC is a domestic limited liability company (or its legal equivalent).

- ABC has up to 50 employees.
- ABC has its headquarters and only base of operations in the economy’s largest
business city. For 11 economies the data are also collected for the second largest
business city.
- Both ABC and BizBank are 100% domestically owned.
The case scenarios also involve assumptions. In case A, as collateral for the loan,
ABC grants BizBank a nonpossessory security interest in one category of movable
assets, for example, its machinery or its inventory. ABC wants to keep both
possession and ownership of the collateral. In economies where the law does not
allow nonpossessory security interests in movable property, ABC and BizBank use a
fiduciary transfer-of-title arrangement (or a similar substitute for nonpossessory
security interests).
In case B, ABC grants BizBank a business charge, enterprise charge, floating

charge or any charge that gives BizBank a security interest over ABC’s combined
movable assets (or as much of ABC’s movable assets as possible). ABC keeps
ownership and possession of the assets.
Page 25
Getting Credit - Estonia

income Performance
Strength of legal rights index (0-12) 7 6.1 12 (5 Economies)
Depth of credit information index (0-8) 7 6.7 8 (42 Economies)
Credit registry coverage (% of adults) 0 21.8 100.0 (4 Economies)
Credit bureau coverage (% of adults) 26.9 65.3 100.0 (25 Economies)
Figure – Getting Credit in Estonia and comparator economies – Ranking and Score
DB 2019 Getting Credit Score
0 100
Note: The ranking of economies on the ease of getting credit is determined by sorting their scores for getting credit. These scores are the
sum of the scores for the strength of legal rights index and the depth of credit information index.
Figure – Legal Rights in Estonia and comparator economies
8 9
8
7 7
7
6 6.1
6
Index Score
5
4
3
2
1
0
Page 26
Details – Legal Rights in Estonia
Strength of legal rights index (0-12) 7
Does an integrated or unified legal framework for secured transactions that extends to the creation, publicity and No
enforcement of functional equivalents to security interests in movable assets exist in the economy?
Does the law allow businesses to grant a non possessory security right in a single category of movable assets, without No
requiring a specific description of collateral?
Does the law allow businesses to grant a non possessory security right in substantially all of its assets, without requiring a Yes
specific description of collateral?
May a security right extend to future or after-acquired assets, and does it extend automatically to the products, proceeds and No
replacements of the original assets?
Is a general description of debts and obligations permitted in collateral agreements; can all types of debts and obligations be Yes
secured between parties; and can the collateral agreement include a maximum amount for which the assets are
encumbered?
Is a collateral registry in operation for both incorporated and non-incorporated entities, that is unified geographically and by Yes
asset type, with an electronic database indexed by debtor's name?
Does a notice-based collateral registry exist in which all functional equivalents can be registered? No
Does a modern collateral registry exist in which registrations, amendments, cancellations and searches can be performed Yes
online by any interested third party?
Are secured creditors paid first (i.e. before tax claims and employee claims) when a debtor defaults outside an insolvency Yes
procedure?
Are secured creditors paid first (i.e. before tax claims and employee claims) when a business is liquidated? Yes
Are secured creditors subject to an automatic stay on enforcement when a debtor enters a court-supervised reorganization No
procedure? Does the law protect secured creditors’ rights by providing clear grounds for relief from the stay and sets a time
limit for it?
Does the law allow parties to agree on out of court enforcement at the time a security interest is created? Does the law allow Yes
the secured creditor to sell the collateral through public auction or private tender, as well as, for the secured creditor to keep
the asset in satisfaction of the debt?
Figure – Credit Information in Estonia and comparator economies
8 8
8
7
7 6.7
6 6
6
Index Score
5
4
3
2
1
0
Page 27
Details – Credit Information in Estonia
Depth of credit information index (0-8) Credit Credit Score

bureau registry
Are data on both firms and individuals distributed? Yes No 1
Are both positive and negative credit data distributed? No No 0
Are data from retailers or utility companies - in addition to data from banks and Yes No 1
financial institutions - distributed?
Are at least 2 years of historical data distributed? (Credit bureaus and registries Yes No 1
that distribute more than 10 years of negative data or erase data on defaults as
soon as they are repaid obtain a score of 0 for this component.)
Are data on loan amounts below 1% of income per capita distributed? Yes No 1
By law, do borrowers have the right to access their data in the credit bureau or Yes No 1
credit registry?
Can banks and financial institutions access borrowers’ credit information online Yes No 1
(for example, through an online platform, a system-to-system connection or
both)?
Are bureau or registry credit scores offered as a value-added service to help Yes No 1
banks and financial institutions assess the creditworthiness of borrowers?
Total Score ("yes" to either public bureau or private registry) 7
Note: An economy receives a score of 1 if there is a "yes" to either bureau or registry. If the credit bureau or registry is not operational or
covers less than 5% of the adult population, the total score on the depth of credit information index is 0.
Coverage Credit bureau Credit registry
Number of individuals 175,000 0
Number of firms 52,000 0
Total 227,000 0
Percentage of adult population 26.9 0
Page 28
Protecting Minority Investors
This topic measures the strength of minority shareholder protections against misuse of corporate assets by directors for their personal gain
as well as shareholder rights, governance safeguards and corporate transparency requirements that reduce the risk of abuse. The most
recent round of data collection for the project was completed in May 2018. See the methodology for more information.
• Extent of disclosure index (0–10): Review and To make the data comparable across economies, a case study uses several
approval requirements for related-party
assumptions about the business and the transaction.
transactions; Disclosure requirements for related-
party transactions
The business (Buyer):
• Extent of director liability index (0–10): Ability - Is a publicly traded corporation listed on the economy’s most important stock
of minority shareholders to sue and hold exchange. If there are fewer than ten listed companies or if there is no stock
interested directors liable for prejudicial related- exchange in the economy, it is assumed that Buyer is a large private company with
party transactions; Available legal remedies multiple shareholders.
(damages, disgorgement of profits, fines, - Has a board of directors and a chief executive officer (CEO) who may legally act on
imprisonment, rescission of the transaction) behalf of Buyer where permitted, even if this is not specifically required by law.
• Ease of shareholder suits index (0–10): - Has a supervisory board in economies with a two-tier board system on which Mr.
Access to internal corporate documents; James appointed 60% of the shareholder-elected members.
Evidence obtainable during trial and allocation of - Has not adopted bylaws or articles of association that go beyond the minimum
legal expenses requirements. Does not follow codes, principles, recommendations or guidelines that
are not mandatory.
• Extent of conflict of interest regulation index
- Is a manufacturing company with its own distribution network.
(0–10): Simple average of the extent of
disclosure, extent of director liability and ease of
The transaction involves the following details:
shareholder indices
- Mr. James owns 60% of Buyer, sits on Buyer’s board of directors and elected two
• Extent of shareholder rights index (0-10): directors to Buyer’s five-member board.
Shareholders’ rights and role in major corporate - Mr. James also owns 90% of Seller, a company that operates a chain of retail
decisions hardware stores. Seller recently closed a large number of its stores.
• Extent of ownership and control index (0-10): - Mr. James proposes that Buyer purchase Seller’s unused fleet of trucks to expand
Governance safeguards protecting shareholders Buyer’s distribution of its food products, a proposal to which Buyer agrees. The price
from undue board control and entrenchment is equal to 10% of Buyer’s assets and is higher than the market value.
- The proposed transaction is part of the company’s principal activity and is not
• Extent of corporate transparency index (0-10): outside the authority of the company.
Corporate transparency on ownership stakes,
- Buyer enters into the transaction. All required approvals are obtained, and all
compensation, audits and financial prospects
required disclosures made—that is, the transaction was not entered into fraudulently.
• Extent of shareholder governance index (0– - The transaction causes damages to Buyer. Shareholders sue Mr. James and the
10): Simple average of the extent of shareholders executives and directors that approved the transaction.
rights, extent of ownership and control and extent
of corporate transparency indices
• Strength of minority investor protection index

(0–10): Simple average of the extent of conflict of
interest regulation and extent of shareholder
governance indices
Page 29
Protecting Minority Investors - Estonia

income Performance
Extent of disclosure index (0-10) 8.0 6.5 10 (13 Economies)
Extent of director liability index (0-10) 3.0 5.3 10 (Cambodia)
Ease of shareholder suits index (0-10) 6.0 7.3 10 (Djibouti)
Extent of shareholder rights index (0-10) 8.0 6.4 10 (Kazakhstan)
Extent of ownership and control index (0-10) 3.0 5.4 None in 2017/18
Extent of corporate transparency index (0-10) 6.0 7.6 10 (6 Economies)
Figure – Protecting Minority Investors in Estonia and comparator economies – Ranking and Score
DB 2019 Protecting Minority Investors Score
0 100
Note: The ranking of economies on the strength of minority investor protections is determined by sorting their scores for protecting minority
investors. These scores are the simple average of the scores for the extent of conflict of interest regulation index and the extent of
shareholder governance index.
Figure – Protecting Minority Investors in Estonia and comparator economies – Measure of Quality
Estonia 6 3 8 3 8 6
Denmark 9 5 7 5 6 8
Finland 9 4 6 2 6 8
Latvia 8 4 5 5 7 9
Lithuania 10 4 7 6 6 7
OECD high income 7.4 5.5 6.5 5.2 6.3 7.4
0 5 10 15 20 25 30 35 40 45
Sub-Indicator Score
Extent of corporate transparency index (0-10) Extent of director liability index (0-10) Extent of disclosure index (0-10)
Extent of ownership and control index (0-10) Extent of shareholder rights index (0-10) Ease of shareholder suits index (0-10)
Page 30
Details – Protecting Minority Investors in Estonia – Measure of Quality
Answer Score
Extent of conflict of interest regulation index (0-10) 5.7
Extent of disclosure index (0-10) 8.0
Whose decision is sufficient to approve the Buyer-Seller transaction? (0-3) Board of 2.0
directors
excluding
interested
members
Must an external body review the terms of the transaction before it takes place? (0-1) No 0.0
Must Mr. James disclose his conflict of interest to the board of directors? (0-2) Full disclosure of 2.0
all material facts
Must Buyer disclose the transaction in periodic filings (e.g. annual reports)? (0-2) Disclosure on the 2.0
transaction and
on the conflict of
interest
Must Buyer immediately disclose the transaction to the public? (0-2) Disclosure on the 2.0
transaction and
on the conflict of
interest
Extent of director liability index (0-10) 3.0
Can shareholders representing 10% of Buyer's share capital sue for the damage the No 0.0
transaction caused to Buyer? (0-1)
Can shareholders hold Mr. James liable for the damage the transaction caused to Buyer? (0- Liable if negligent 1.0
2)
Can shareholders hold the other directors liable for the damage the transaction caused to Liable if negligent 1.0
Buyer (0-2)
Must Mr. James pay damages for the harm caused to Buyer upon a successful claim by Yes 1.0
shareholders? (0-1)
Must Mr. James repay profits made from the transaction upon a successful claim by No 0.0
shareholders? (0-1)
Is Mr. James disqualified upon a successful claim by shareholders? (0-1) No 0.0
Can a court void the transaction upon a successful claim by shareholders? (0-2) Only in case of 0.0
fraud or bad faith
Ease of shareholder suits index (0-10) 6.0
Before suing, can shareholders representing 10% of Buyer's share capital inspect the Yes 1.0
transaction documents? (0-1)
Can the plaintiff obtain any documents from the defendant and witnesses at trial? (0-3) Any relevant 3.0
document
Can the plaintiff request categories of documents from the defendant without identifying No 0.0
specific ones? (0-1)
Can the plaintiff directly question the defendant and witnesses at trial? (0-2) No 0.0
Is the level of proof required for civil suits lower than that of criminal cases? (0-1) Yes 1.0
Can shareholder plaintiffs recover their legal expenses from the company? (0-2) Yes if successful 1.0
Extent of shareholder governance index (0-10) 5.7
Extent of shareholder rights index (0-10) 8.0
Does the sale of 51% of Buyer's assets require shareholder approval? No 0.0
Can shareholders representing 10% of Buyer's share capital call for a meeting of Yes 1.0
shareholders?
Must Buyer obtain its shareholders’ approval every time it issues new shares? Yes 1.0
Page 31
Do shareholders automatically receive preemption rights every time Buyer issues new Yes 1.0
shares?
Must shareholders approve the election and dismissal of the external auditor? Yes 1.0
Are changes to the rights of a class of shares only possible if the holders of the affected Yes 1.0
shares approve?
Assuming that Buyer is a limited company, does the sale of 51% of its assets require Yes 1.0
member approval?
Assuming that Buyer is a limited company, can members representing 10% call for a Yes 1.0
meeting of members?
Assuming that Buyer is a limited company, must all or almost all members consent to add a No 0.0
new member?
Assuming that Buyer is a limited company, must a member first offer to sell their interest to Yes 1.0
the existing members before they can sell to non-members?
Extent of ownership and control index (0-10) 3.0
Is it forbidden to appoint the same individual as CEO and chairperson of the board of No 0.0
directors?
Must the board of directors include independent and nonexecutive board members? No 0.0
Can shareholders remove members of the board of directors without cause before the end Yes 1.0
of their term?
Must the board of directors include a separate audit committee exclusively comprising board No 0.0
members?
Must a potential acquirer make a tender offer to all shareholders upon acquiring 50% of Yes 1.0
Buyer?
Must Buyer pay declared dividends within a maximum period set by law? No 0.0
Is a subsidiary prohibited from acquiring shares issued by its parent company? No 0.0
Assuming that Buyer is a limited company, must Buyer have a mechanism to resolve Yes 1.0
disagreements among members?
Assuming that Buyer is a limited company, must a potential acquirer make a tender offer to No 0.0
all shareholders upon acquiring 50% of Buyer?
Assuming that Buyer is a limited company, must Buyer distribute profits within a maximum No 0.0
period set by law?
Extent of corporate transparency index (0-10) 6.0
Must Buyer disclose direct and indirect beneficial ownership stakes representing 5%? Yes 1.0
Must Buyer disclose information about board members’ primary employment and No 0.0
directorships in other companies?
Must Buyer disclose the compensation of individual managers? No 0.0
Must a detailed notice of general meeting be sent 21 days before the meeting? Yes 1.0
Can shareholders representing 5% of Buyer’s share capital put items on the general meeting Yes 1.0
agenda?
Must Buyer's annual financial statements be audited by an external auditor? Yes 1.0
Must Buyer disclose its audit reports to the public? Yes 1.0
Assuming that Buyer is a limited company, must members meet at least once a year? No 0.0
Assuming that Buyer is a limited company, can members representing 5% put items on the No 0.0
meeting agenda?
Assuming that Buyer is a limited company, must Buyer's annual financial statements be Yes 1.0
audited by an external auditor?
Page 32
Paying Taxes
This topic records the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year, as well as the
administrative burden of paying taxes and contributions and complying with postfiling procedures (VAT refund and tax audit). The most recent
round of data collection for the project was completed in May 2018 covering for the Paying Taxes indicator calendar year 2017 (January 1,
2017 – December 31, 2017). See the methodology for more information.
Tax payments for a manufacturing company in Using a case scenario, Doing Business records taxes and mandatory contributions a
2017 (number per year adjusted for electronic medium size company must pay in a year, and measures the administrative burden
and joint filing and payment) of paying taxes, contributions and dealing with postfiling processes. Information is
also compiled on frequency of filing and payments, time taken to comply with tax
• Total number of taxes and contributions paid or laws, time taken to comply with the requirements of postfiling processes and time
withheld, including consumption taxes (value
waiting.
added tax, sales tax or goods and service tax)
• Method and frequency of filing and payment To make data comparable across economies, several assumptions are used:
- TaxpayerCo is a medium-size business that started operations on January 1, 2016.
Time required to comply with 3 major taxes It produces ceramic flowerpots and sells them at retail. All taxes and contributions
(hours per year) recorded are paid in the second year of operation (calendar year 2017). Taxes and
• Collecting information, computing tax payable mandatory contributions are measured at all levels of government.
• Preparing separate tax accounting books, if The VAT refund process:

required - In June 2017, TaxpayerCo. makes a large capital purchase: the value of the
• Completing tax return, filing with agencies machine is 65 times income per capita of the economy. Sales are equally spread per
month (1,050 times income per capita divided by 12) and cost of goods sold are
• Arranging payment or withholding equally expensed per month (875 times income per capita divided by 12). The
Total tax and contribution rate (% of commercial machinery seller is registered for VAT and excess input VAT incurred in June will be
fully recovered after four consecutive months if the VAT rate is the same for inputs,
profits)
sales and the machine and the tax reporting period is every month. Input VAT will
• Profit or corporate income tax exceed Output VAT in June 2017.
• Social contributions, labor taxes paid by
The corporate income tax audit process:
employer
- An error in calculation of income tax liability (for example, use of incorrect tax
• Property and property transfer taxes depreciation rates, or incorrectly treating an expense as tax deductible) leads to an
• Dividend, capital gains, financial transactions incorrect income tax return and a corporate income tax underpayment. TaxpayerCo.
taxes discovered the error and voluntarily notified the tax authority. The value of the
underpaid income tax liability is 5% of the corporate income tax liability
• Waste collection, vehicle, road and other taxes due. TaxpayerCo. submits corrected information after the deadline for submitting the
annual tax return, but within the tax assessment period.
Postfiling Index
• Time to comply with a VAT refund (hours)

• Time to obtain a VAT refund (weeks)
• Time to comply with a corporate income tax
correction (hours)
• Time to complete a corporate income tax

correction (weeks)
Page 33
Paying Taxes - Estonia

income Performance
Payments (number per year) 8 11.2 3 (Hong Kong SAR, China)
Time (hours per year) 50 159.4 49 (Singapore)
Total tax and contribution rate (% of profit) 48.7 39.8 26.1% (32 Economies)
Postfiling index (0-100) 99.38 84.41 None in 2017/18
Figure – Paying Taxes in Estonia and comparator economies – Ranking and Score
DB 2019 Paying Taxes Score
0 100
Note: The ranking of economies on the ease of paying taxes is determined by sorting their scores for paying taxes. These scores are the
simple average of the scores for each of the component indicators, with a threshold and a nonlinear transformation applied to one of the
component indicators, the total tax and contribution rate. The threshold is defined as the total tax and contribution rate at the 15th percentile
of the overall distribution for all years included in the analysis up to and including Doing Business 2015, which is 26.1%. All economies with a
total tax and contribution rate below this threshold receive the same score as the economy at the threshold.
Figure – Paying Taxes in Estonia and comparator economies – Measure of Quality
99.38 98.11 97.52

100 93.09
89.06
84.41
80
Index score
60
40
20
Page 34
Details – Paying Taxes in Estonia
Tax or Payments Notes on Time Statutory Tax base Total tax Notes on
mandatory (number) Payments (hours) tax rate and TTCR
contribution contribution
rate (% of
profit)
Social 0.0 online and 31.0 33% gross salaries 37.22

security jointly
contributions
Dividend tax 1.0 online 5.0 20/80 distributed 7.91

dividends
Land tax 1.0 online 2.5% property 1.89

value
Unemployme 0.0 online and 0.8% gross salaries 0.78

nt insurance jointly
contributions
Fringe benefit 0.0 online and 66.25% fringe benefits 0.75 0.007472926
tax jointly 99309493
State fee 1.0 online EUR 630 fixed fee 0.09

(stamp duty) according to
on property schedule
transfer
Heavy vehicle 1.0 online EUR 275 fixed fee 0.04

tax depending on
type of
vehicle
Advertising 1.0 online EUR 0.55 /m2 fixed fee 0.00 small amount
tax / day
Stamp duty 1.0 online contract value 0.00 small amount
Fuel tax 1.0 included in 0.00 small amount

price of fuel
Employee 0.0 online and 2% gross salaries 0.00 withheld

paid - jointly
Compulsory
pension
contributions
Employee 0.0 online and 1.6% gross salaries 0.00 withheld

paid - jointly
Unemployme
nt insurance
contributions
Value added 1.0 online 14.0 20% value added 0.00 not included
tax (VAT)
Totals 8 50 48.7
Page 35
Details – Paying Taxes in Estonia – Tax by Type
Taxes by type Answer
Profit tax (% of profit) 7.9
Labor tax and contributions (% of profit) 38.8
Other taxes (% of profit) 2
Page 36
Details – Paying Taxes in Estonia – Measure of Quality
Answer Score
Postfiling index (0-100) 99.38
VAT refunds
Does VAT exist? Yes
Does a VAT refund process exist per the case study? Yes
Restrictions on VAT refund process None
Percentage of cases exposed to a VAT audit (%) 0% - 24%
Is there a mandatory carry forward period? No
Time to comply with VAT refund (hours) 1.3 97.5
Time to obtain a VAT refund (weeks) 2.3 100
Corporate income tax audits
Does corporate income tax exist? Yes
Percentage of cases exposed to a corporate income tax audit (%) 0% - 24%
Time to comply with a corporate income tax correction (hours) 1.5 100
Time to complete a corporate income tax correction (weeks) No tax audit per 100
case study
scenario
Notes: Names of taxes have been standardized. For instance income tax, profit tax, tax on company's income are all named corporate
income tax in this table.
The hours for VAT include all the VAT and sales taxes applicable.
The hours for Social Security include all the hours for labor taxes and mandatory contributions in general.
The postfiling index is the average of the scores on time to comply with VAT refund, time to obtain a VAT refund, time to comply with a
corporate income tax correction and time to complete a corporate income tax correction.
N/A = Not applicable.
Page 37
Trading across Borders
Doing Business records the time and cost associated with the logistical process of exporting and importing goods. Doing Business measures
the time and cost (excluding tariffs) associated with three sets of procedures—documentary compliance, border compliance and domestic
transport—within the overall process of exporting or importing a shipment of goods. The most recent round of data collection for the project
was completed in May 2018. See the methodology for more information.
Documentary compliance To make the data comparable across economies, a few assumptions are made
about the traded goods and the transactions:
• Obtaining, preparing and submitting documents
during transport, clearance, inspections and port
Time: Time is measured in hours, and 1 day is 24 hours (for example, 22 days are
or border handling in origin economy
recorded as 22×24=528 hours). If customs clearance takes 7.5 hours, the data are
• Obtaining, preparing and submitting documents recorded as is. Alternatively, suppose documents are submitted to a customs agency
required by destination economy and any transit at 8:00a.m., are processed overnight and can be picked up at 8:00a.m. the next day.
economies The time for customs clearance would be recorded as 24 hours because the actual
• Covers all documents required by law and in procedure took 24 hours.
practice, including electronic submissions of
Cost: Insurance cost and informal payments for which no receipt is issued are
information
excluded from the costs recorded. Costs are reported in U.S. dollars. Contributors
Border compliance are asked to convert local currency into U.S. dollars based on the exchange rate
prevailing on the day they answer the questionnaire. Contributors are private sector
• Customs clearance and inspections experts in international trade logistics and are informed about exchange rates.
• Inspections by other agencies (if applied to more
than 20% of shipments) Assumptions of the case study:
- For all 190 economies covered by Doing Business, it is assumed a shipment is in a
• Handling and inspections that take place at the warehouse in the largest business city of the exporting economy and travels to a
economy’s port or border
warehouse in the largest business city of the importing economy.
- It is assumed each economy imports 15 metric tons of containerized auto parts (HS
Domestic transport
8708) from its natural import partner—the economy from which it imports the largest
• Loading or unloading of the shipment at the value (price times quantity) of auto parts. It is assumed each economy exports the
warehouse or port/border product of its comparative advantage (defined by the largest export value) to its
• Transport between warehouse and port/border natural export partner—the economy that is the largest purchaser of this product.
Shipment value is assumed to be $50,000.
• Traffic delays and road police checks while - The mode of transport is the one most widely used for the chosen export or import
shipment is en route product and the trading partner, as is the seaport or land border crossing.
- All electronic information submissions requested by any government agency in
connection with the shipment are considered to be documents obtained, prepared
and submitted during the export or import process.
- A port or border is a place (seaport or land border crossing) where merchandise
can enter or leave an economy.
- Relevant government agencies include customs, port authorities, road police,
border guards, standardization agencies, ministries or departments of agriculture or
industry, national security agencies and any other government authorities.
Page 38
Trading across Borders - Estonia

income Performance
Time to export: Border compliance (hours) 2 12.5 1 (19 Economies)
Cost to export: Border compliance (USD) 0 139.1 0 (19 Economies)
Time to export: Documentary compliance (hours) 1 2.4 1 (26 Economies)
Cost to export: Documentary compliance (USD) 0 35.2 0 (20 Economies)
Time to import: Border compliance (hours) 0 8.5 0 (25 Economies)
Cost to import: Border compliance (USD) 0 100.2 0 (28 Economies)
Time to import: Documentary compliance (hours) 1 3.4 1 (30 Economies)
Cost to import: Documentary compliance (USD) 0 24.9 0 (30 Economies)
Figure – Trading across Borders in Estonia and comparator economies – Ranking and Score
DB 2019 Trading Across Borders Score
0 100
Note: The ranking of economies on the ease of trading across borders is determined by sorting their scores for trading across borders. These
scores are the simple average of the scores for the time and cost for documentary compliance and border compliance to export and import.
Figure – Trading across Borders in Estonia – Time and Cost
Time (hours) Cost (USD)

2.5 1.2
2 1
2
Time (hours)
Cost (USD)
0.8
1.5
1 1 0.6
1
0.4
0.5 0.2
0 0 0 0 0
0 0
Export Export Import Import

- - - -
Border Documentary Border Documentary
Compliance Compliance Compliance Compliance
Page 39
Details – Trading across Borders in Estonia
Characteristics Export Import
Product HS 85 : Electrical machinery and HS 8708: Parts and accessories of motor

equipment and parts thereof; sound vehicles
recorders and reproducers, television
image and sound recorders and
reproducers, and parts and accessories of
such articles
Trade partner Sweden Germany
Border Paldiski Estonia-Latvia border crossing
Distance (km) 6 190
Domestic transport time (hours) 2 4
Domestic transport cost (USD) 229 265
Details – Trading across Borders in Estonia – Components of Border Compliance
Time to Complete (hours) Associated Costs (USD)
Export: Clearance and inspections required 0.0 0.0

by customs authorities
Export: Clearance and inspections required 0.0 0.0

by agencies other than customs
Export: Port or border handling 2.0 0.0
Import: Clearance and inspections required 0.0 0.0

by customs authorities
Import: Clearance and inspections required 0.0 0.0

by agencies other than customs
Import: Port or border handling 0.0 0.0
Page 40
Details – Trading across Borders in Estonia – Trade Documents
Export Import
CMR waybill CMR waybill
Commercial Invoice Commercial Invoice
Packing List Packing list
Intrastat Intrastat
SOLAS certificate
Page 41
Enforcing Contracts
The enforcing contracts indicator measures the time and cost for resolving a commercial dispute through a local first-instance court, and the
quality of judicial processes index, evaluating whether each economy has adopted a series of good practices that promote quality and
efficiency in the court system. The most recent round of data collection was completed in May 2018. See the methodology for more
information.
Time required to enforce a contract through the The dispute in the case study involves the breach of a sales contract between 2
courts (calendar days) domestic businesses. The case study assumes that the court hears an expert on the
quality of the goods in dispute. This distinguishes the case from simple debt
• Time to file and serve the case enforcement.
• Time for trial and to obtain the judgment
To make the data comparable across economies, Doing Business uses several
• Time to enforce the judgment assumptions about the case:
Cost required to enforce a contract through the - The dispute concerns a lawful transaction between two businesses (Seller and
courts (% of claim) Buyer), both located in the economy’s largest business city. For 11 economies the
data are also collected for the second largest business city.
• Attorney fees - The buyer orders custom-made goods, then fails to pay alleging that the goods are
• Court fees not of adequate quality.
- The value of the dispute is 200% of the income per capita or the equivalent in local
• Enforcement fees currency of USD 5,000, whichever is greater.
- The seller sues the buyer before the court with jurisdiction over commercial cases
Quality of judicial processes index (0-18)
worth 200% of income per capita or $5,000.
• Court structure and proceedings (-1-5) - The seller requests the pretrial attachment of the defendant’s movable assets to
secure the claim.
• Case management (0-6)
- The dispute on the quality of the goods requires an expert opinion.
• Court automation (0-4) - The judge decides in favor of the seller; there is no appeal.
• Alternative dispute resolution (0-3) - The seller enforces the judgment through a public sale of the buyer’s movable
assets.
Page 42
Enforcing Contracts - Estonia
Standardized Case
Claim value EUR 31,294
Court name Harju County Court

income Performance
Time (days) 455 582.4 None in 2017/18
Cost (% of claim value) 21.9 21.2 None in 2017/18
Quality of judicial processes index (0-18) 13.5 11.5 None in 2017/18
Figure – Enforcing Contracts in Estonia and comparator economies – Ranking and Score
DB 2019 Enforcing Contracts Score
0 100
Note: The ranking of economies on the ease of enforcing contracts is determined by sorting their scores for enforcing contracts. These
scores are the simple average of the scores for each of the component indicators.
Figure – Enforcing Contracts in Estonia – Time and Cost
Time (days) Cost (% of claim value)

700 30
Cost (% of claim value)

600
582.4
23.3 23.1 23.6 25
21.9 21.2
485 485 469
500 455
Time (days)
20
400 16.2 370
15
300
10
200
100 5
0 0
Denmark Estonia Finland Latvia Lithuania OECD

high
income
Page 43
Figure – Enforcing Contracts in Estonia and comparator economies – Measure of Quality
Estonia 2.5 3.5 4 3.5
Denmark 2.5 4.5 3.5 3.5
Finland 2.5 2 2.5 1.5
Latvia 3 4.5 2 3
Lithuania 3 4.5 4 3.5
OECD high income 2.5 3.1 2.3 3.6
0 2 4 6 8 10 12 14 16
Sub-Indicator Score
Alternative dispute resolution (0-3) Case management (0-6) Court automation (0-4) Court structure and proceedings (-1-5)
Details – Enforcing Contracts in Estonia
Indicator
Time (days) 455
Filing and service 60
Trial and judgment 320
Enforcement of judgment 75
Cost (% of claim value) 21.9
Attorney fees 9
Court fees 11.9
Enforcement fees 1
Quality of judicial processes index (0-18) 13.5
Court structure and proceedings (-1-5) 3.5
Case management (0-6) 3.5
Court automation (0-4) 4.0
Alternative dispute resolution (0-3) 2.5
Page 44
Details – Enforcing Contracts in Estonia – Measure of Quality
Answer Score
Quality of judicial processes index (0-18) 13.5
Court structure and proceedings (-1-5) 3.5
1. Is there a court or division of a court dedicated solely to hearing commercial cases? No 0.0
2. Small claims court 1.5
2.a. Is there a small claims court or a fast-track procedure for small claims? Yes
2.b. If yes, is self-representation allowed? Yes
3. Is pretrial attachment available? Yes 1.0
4. Are new cases assigned randomly to judges? Yes, automatic 1.0
5. Does a woman's testimony carry the same evidentiary weight in court as a man's? Yes 0.0
Case management (0-6) 3.5
1. Time standards 0.0
1.a. Are there laws setting overall time standards for key court events in a civil Yes
case?
1.b. If yes, are the time standards set for at least three court events? No
1.c. Are these time standards respected in more than 50% of cases? Yes
2. Adjournments 0.5
2.a. Does the law regulate the maximum number of adjournments that can be No
granted?
2.b. Are adjournments limited to unforeseen and exceptional circumstances? Yes
2.c. If rules on adjournments exist, are they respected in more than 50% of cases? Yes
3. Can two of the following four reports be generated about the competent court: (i) time to Yes 1.0
disposition report; (ii) clearance rate report; (iii) age of pending cases report; and (iv) single
case progress report?
4. Is a pretrial conference among the case management techniques used before the No 0.0
competent court?
5. Are there any electronic case management tools in place within the competent court for Yes 1.0
use by judges?
6. Are there any electronic case management tools in place within the competent court for Yes 1.0
use by lawyers?
Court automation (0-4) 4.0
1. Can the initial complaint be filed electronically through a dedicated platform within the yes 1.0
competent court?
2. Is it possible to carry out service of process electronically for claims filed before the Yes 1.0
competent court?
3. Can court fees be paid electronically within the competent court? Yes 1.0
4. Publication of judgments 1.0
4.a Are judgments rendered in commercial cases at all levels made available to the Yes
general public through publication in official gazettes, in newspapers or on the
internet or court website?
4.b. Are judgments rendered in commercial cases at the appellate and supreme Yes
court level made available to the general public through publication in official
gazettes, in newspapers or on the internet or court website?
Alternative dispute resolution (0-3) 2.5
1. Arbitration 1.5
Page 45
1.a. Is domestic commercial arbitration governed by a consolidated law or Yes

consolidated chapter or section of the applicable code of civil procedure
encompassing substantially all its aspects?
1.b. Are there any commercial disputes—aside from those that deal with public No
order or public policy—that cannot be submitted to arbitration?
1.c. Are valid arbitration clauses or agreements usually enforced by the courts? Yes
2. Mediation/Conciliation 1.0
2.a. Is voluntary mediation or conciliation available? Yes
2.b. Are mediation, conciliation or both governed by a consolidated law or Yes

consolidated chapter or section of the applicable code of civil procedure
encompassing substantially all their aspects?
2.c. Are there financial incentives for parties to attempt mediation or conciliation No
(i.e., if mediation or conciliation is successful, a refund of court filing fees, income
tax credits or the like)?
Page 46
Resolving Insolvency
Doing Business studies the time, cost and outcome of insolvency proceedings involving domestic legal entities. These variables are used to
calculate the recovery rate, which is recorded as cents on the dollar recovered by secured creditors through reorganization, liquidation or
debt enforcement (foreclosure or receivership) proceedings. To determine the present value of the amount recovered by creditors, Doing
Business uses the lending rates from the International Monetary Fund, supplemented with data from central banks and the Economist
Intelligence Unit. The most recent round of data collection was completed in May 2018. See the methodology for more information.
Time required to recover debt (years) To make the data on the time, cost and outcome comparable across economies,
several assumptions about the business and the case are used:
• Measured in calendar years
• Appeals and requests for extension are included - A hotel located in the largest city (or cities) has 201 employees and 50 suppliers.
The hotel experiences financial difficulties.
Cost required to recover debt (% of debtor’s - The value of the hotel is 100% of the income per capita or the equivalent in local
estate) currency of USD 200,000, whichever is greater.
- The hotel has a loan from a domestic bank, secured by a mortgage over the hotel’s
• Measured as percentage of estate value
real estate. The hotel cannot pay back the loan, but makes enough money to
• Court fees operate otherwise.
• Fees of insolvency administrators
In addition, Doing Business evaluates the quality of legal framework applicable to
• Lawyers’ fees judicial liquidation and reorganization proceedings and the extent to which best
• Assessors’ and auctioneers’ fees insolvency practices have been implemented in each economy covered.
• Other related fees

Outcome
• Whether business continues operating as a going

concern or business assets are sold piecemeal
Recovery rate for creditors
• Measures the cents on the dollar recovered by

secured creditors
• Outcome for the business (survival or not)

determines the maximum value that can be
recovered
• Official costs of the insolvency proceedings are

deducted
• Depreciation of furniture is taken into account

• Present value of debt recovered
Strength of insolvency framework index (0- 16)
• Sum of the scores of four component indices:

• Commencement of proceedings index (0-3)
• Management of debtor’s assets index (0-6)
• Reorganization proceedings index (0-3)
• Creditor participation index (0-4)
Page 47
Resolving Insolvency - Estonia

income Performance
Recovery rate (cents on the dollar) 40.7 70.5 None in 2017/18
Time (years) 3.0 1.7 0.4 (Ireland)
Cost (% of estate) 9.0 9.3 1.0 (Norway)
Outcome (0 as piecemeal sale and 1 as going concern) 0 .. ..
Strength of insolvency framework index (0-16) 13.0 11.9 None in 2017/18
Figure – Resolving Insolvency in Estonia and comparator economies – Ranking and Score
DB 2019 Resolving Insolvency Score
0 100
Note: The ranking of economies on the ease of resolving insolvency is determined by sorting their scores for resolving insolvency. These
scores are the simple average of the scores for the recovery rate and the strength of insolvency framework index.
Figure – Resolving Insolvency in Estonia – Time and Cost
Time (years) Cost (% of estate)

3.5 15.0 16
3.0
3 14
Cost (% of estate)
12
Time (years)
2.5 10.0 2.3

9.0 9.3 10
2 1.7
1.5 8
1.5
1.0 6
1 4.0 0.9
3.5 4
0.5 2
0 0
Denmark Estonia Finland Latvia Lithuania OECD

high
income
Page 48
Figure – Resolving Insolvency in Estonia and comparator economies – Measure of Quality
Estonia 5.5 2.5 3 2
Denmark 6 3 2 1
Finland 6 3 3 2.5
Latvia 5 2.5 2 2.5
Lithuania 4 2.5 1 0.5
OECD high income 5.3 2.8 2.2 1.9
0 2 4 6 8 10 12 14 16
Sub-Indicator Score
Management of debtor's assets index (0-6) Commencement of proceedings index (0-3) Creditor participation index (0-4)
Reorganization proceedings index (0-3)
Note: Even if the economy’s legal framework includes provisions related to insolvency proceedings (liquidation or reorganization), the
economy receives 0 points for the strength of insolvency framework index, if time, cost and outcome indicators are recorded as “no practice.”
Figure – Resolving Insolvency in Estonia and comparator economies – Recovery Rate

Recovery rate(cents on the dollar)
100
88.5 88.3
80
70.5
60
40.7 41.1 40.6

40
20
Page 49
Details – Resolving Insolvency in Estonia
Indicator Answer Score
Proceeding liquidation Because Mirage is not able to make its loan payment and the bank will not renegotiate the loan, it
is most probable that BizBank would first send Mirage a bankruptcy warning in case of non-
payment. If Mirage still fails to pay, BizBank will file a bankruptcy petition against Mirage.
Moreover, because Mirage is already unable to pay, the board of Mirage would itself be under
obligation to file a bankruptcy application against Mirage without delay. Reorganization could not
be considered in a situation where Mirage is already in fact unable to meet its financial obligations
as opposed to the situation where the difficulty to meet its obligations is likely to occur in the
future.
Outcome piecemeal sale In order to keep the hotel operating, creditors would have to finance its operations. The bank is
likely to be interested in returning its money as soon as possible and not in lending more money to
the hotel, therefore, it would advocate for a piecemeal sale of the assets. The proportion of
businesses that survive insolvency as a going concern is significantly small.
Time (in years) 3.0 Generally, it takes around 3 years to resolve liquidation in Estonia. The main procedural steps
include: - filing of a bankruptcy petition; - appointment of an interim trustee (within 10-20 days after
the acceptance of the bankruptcy petition); - court ruling of the county court (court of first instance)
declaring bankruptcy, which can be appealed within 15 days after the publication of bankruptcy
notice and the judgment of the court of second instance can also be appealed within 30 days; -
first general meeting of creditors appointing the bankruptcy committee, confirming the insolvency
representative (trustee), and deciding on the continuation or termination of the activities of the
undertaking (within 15-30 days after the declaration of bankruptcy); - notification of claims by
creditors (no later than 2 months after publication of the bankruptcy notice); - general meeting(s)
of creditors for the defense of claims (within 1-3 months after the deadline for notification of
claims); - disputes over recognition of claims, recovery of assets, etc. (may take years); -
preparation of the proposal for distribution of assets by the representative after the general
meeting for the defense of claims, which may be contested within 10 days in court; - sale of assets
(time varies); - distribution of assets according to the distribution plan (1 month).
Cost (% of 9.0 The cost associated with the case would amount to 9% from the value of the hotel. The major
estate) expenses will include fees of the insolvency representative (5%), attorneys’ fees (3%), and other
fees (1%).
Recovery rate 40.7

(cents on the
dollar)
Page 50
Details – Resolving Insolvency in Estonia – Measure of Quality
Answer Score
Strength of insolvency framework index (0-16) 13.0
Commencement of proceedings index (0-3) 2.5
What procedures are available to a DEBTOR when commencing insolvency proceedings? (a) Debtor may 1.0
file for both
liquidation and
reorganization
Does the insolvency framework allow a CREDITOR to file for insolvency of the debtor? (b) Yes, but a 0.5
creditor may file
for liquidation
only
What basis for commencement of the insolvency proceedings is allowed under the (c) Both (a) and 1.0
insolvency framework? (b) options are
available, but
only one of them
needs to be
complied with
Management of debtor's assets index (0-6) 5.5
Does the insolvency framework allow the continuation of contracts supplying essential goods Yes 1.0
and services to the debtor?
Does the insolvency framework allow the rejection by the debtor of overly burdensome Yes 1.0
contracts?
Does the insolvency framework allow avoidance of preferential transactions? Yes 1.0
Does the insolvency framework allow avoidance of undervalued transactions? Yes 1.0
Does the insolvency framework provide for the possibility of the debtor obtaining credit after Yes 1.0
commencement of insolvency proceedings?
Does the insolvency framework assign priority to post-commencement credit? (a) Yes over all 0.5
pre-
commencement
creditors,
secured or
unsecured
Reorganization proceedings index (0-3) 2.0
Which creditors vote on the proposed reorganization plan? (b) Only creditors 1.0
whose rights are
affected by the
proposed plan
Does the insolvency framework require that dissenting creditors in reorganization receive at No 0.0
least as much as what they would obtain in a liquidation?
Are the creditors divided into classes for the purposes of voting on the reorganization plan, Yes 1.0
does each class vote separately and are creditors in the same class treated equally?
Creditor participation index (0-4) 3.0
Does the insolvency framework require approval by the creditors for selection or Yes 1.0
appointment of the insolvency representative?
Does the insolvency framework require approval by the creditors for sale of substantial Yes 1.0
assets of the debtor?
Does the insolvency framework provide that a creditor has the right to request information No 0.0
from the insolvency representative?
Does the insolvency framework provide that a creditor has the right to object to decisions Yes 1.0
accepting or rejecting creditors' claims?
Note: Even if the economy’s legal framework includes provisions related to insolvency proceedings (liquidation or reorganization), the
economy receives 0 points for the strength of insolvency framework index, if time, cost and outcome indicators are recorded as “no practice.”
Page 51
Labor Market Regulation
Doing Business presents detailed data for the labor market regulation indicators on the Doing Business website
(http://www.doingbusiness.org). The report does not present rankings of economies on these indicators or include the topic in the aggregate
ease of doing business score or ranking on the ease of doing business.
The most recent round of data collection was completed in May 2018. See the methodology for more information.
Hiring To make the data comparable across economies, several assumptions about the
(i) whether fixed-term contracts are prohibited for worker and the business are used.
permanent tasks; (ii) maximum cumulative duration
of fixed-term contracts; (iii) length of the The worker:
probationary period; (iv) minimum wage. - Is a cashier in a supermarket or grocery store, age 19, with one year of work
experience.
Working hours - Is a full-time employee.
(i) maximum number of working days allowed per - Is not a member of the labor union, unless membership is mandatory.
week; (ii) premiums for work: at night, on a weekly
rest day and overtime; (iii) whether there are The business:
restrictions on work at night, work on a weekly rest - Is a limited liability company (or the equivalent in the economy).
day and for overtime work; (iv) whether - Operates a supermarket or grocery store in the economy’s largest business city.
nonpregnant and nonnursing women can work For 11 economies the data are also collected for the second largest business city.
same night hours as men; (v) length of paid annual - Has 60 employees.
leave. - Is subject to collective bargaining agreements if such agreements cover more than
50% of the food retail sector and they apply even to firms that are not party to them.
Redundancy rules - Abides by every law and regulation but does not grant workers more benefits than
(i) whether redundancy can be basis for terminating those mandated by law, regulation or (if applicable) collective bargaining
workers; (ii) whether employer needs to notify agreements.
and/or get approval from third party to terminate 1
redundant worker and a group of 9 redundant
workers; (iii) whether law requires employer to
reassign or retrain a worker before making worker
redundant; (iv) whether priority rules apply for
redundancies and reemployment.
Redundancy cost
(i) notice period for redundancy dismissal; (ii)
severance payments due when terminating a
redundant worker.
Job quality
(i) whether law mandates equal remuneration for
work of equal value and nondiscrimination based on
gender in hiring; (ii) whether law mandates paid or
unpaid maternity leave; (iii) length of paid maternity
leave; (iv) whether employees on maternity leave
receive 100% of wages; (v) availability of five fully
paid days of sick leave a year; (vi) eligibility
requirements for unemployment protection.
Page 52
Labor Market Regulation - Estonia
Details – Labor Market Regulation in Estonia
Answer
Hiring
Fixed-term contracts prohibited for permanent tasks? Yes
Maximum length of a single fixed-term contract (months) 60.0
Maximum length of fixed-term contracts, including renewals (months) 120.0
Minimum wage applicable to the worker assumed in the case study (US$/month) 530.7
Ratio of minimum wage to value added per worker 0.2
Maximum length of probationary period (months) 4.0
Working hours
Standard workday 8.0
Maximum number of working days per week 5.0
Premium for night work (% of hourly pay) 25.0
Premium for work on weekly rest day (% of hourly pay) 0.0
Premium for overtime work (% of hourly pay) 50.0
Restrictions on night work? Yes
Whether nonpregnant and nonnursing women can work the same night hours as men Yes
Restrictions on weekly holiday? No
Restrictions on overtime work? No
Paid annual leave for a worker with 1 year of tenure (working days) 24.0
Paid annual leave for a worker with 5 years of tenure (working days) 24.0
Paid annual leave for a worker with 10 years of tenure (working days) 24.0
Paid annual leave (average for workers with 1, 5 and 10 years of tenure, in working days) 24.0
Redundancy rules
Dismissal due to redundancy allowed by law? Yes
Third-party notification if one worker is dismissed? No
Third-party approval if one worker is dismissed? No
Third-party notification if nine workers are dismissed? No
Third-party approval if nine workers are dismissed? No
Retraining or reassignment obligation before redundancy? Yes
Priority rules for redundancies? Yes
Priority rules for reemployment? No
Redundancy cost
Notice period for redundancy dismissal for a worker with 1 year of tenure 4.3
Notice period for redundancy dismissal for a worker with 5 years of tenure 8.6
Notice period for redundancy dismissal for a worker with 10 years of tenure 12.9
Notice period for redundancy dismissal (average for workers with 1, 5 and 10 years of tenure) 8.6
Severance pay for redundancy dismissal for a worker with 1 year of tenure 4.3
Page 53
Severance pay for redundancy dismissal for a worker with 5 years of tenure 4.3
Severance pay for redundancy dismissal for a worker with 10 years of tenure 4.3
Severance pay for redundancy dismissal (average for workers with 1, 5 and 10 years of tenure) 4.3
Job quality
Equal remuneration for work of equal value? Yes
Gender nondiscrimination in hiring? Yes
Paid or unpaid maternity leave mandated by law? Yes
Minimum length of maternity leave (calendar days)? 140.0
Receive 100% of wages on maternity leave? Yes
Five fully paid days of sick leave a year? No
Unemployment protection after one year of employment? Yes
Minimum contribution period for unemployment protection (months)? 12.0
Page 54
Business Reforms in Estonia
In the past year, Doing Business observed a peaking of reform activity worldwide. From June 2, 2017, to May 1, 2018, 128 economies
implemented a record 314 regulatory reforms improving the business climate. Reforms inspired by Doing Business have been implemented
by economies in all regions. The following are reforms implemented since Doing Business 2008.
= Doing Business reform making it easier to do business. = Change making it more difficult to do business.
DB2016
Starting a Business: Estonia made starting a business simpler by allowing minimum capital to be deposited at the time of company
registration.
DB2014
Enforcing Contracts: Estonia made enforcing contracts easier by lowering court fees.
DB2012
Paying Taxes: In Estonia a municipal sales tax introduced in Tallinn made paying taxes costlier for firms, though a later parliamentary
measure abolished local sales taxes effective January 1, 2012.
DB2011
Dealing with Construction Permits: Estonia made dealing with construction permits more complex by increasing the time for obtaining
design criteria from the municipality.
Getting Credit: Estonia improved access to credit by amending the Code of Enforcement Procedure and allowing out-of-court enforcement
of collateral by secured creditors.
Paying Taxes: Estonia increased the unemployment insurance contribution rate.
Resolving Insolvency: Amendments to Estonia’s recent insolvency law increased the chances that viable businesses will survive insolvency
by improving procedures and changing the qualification requirements for insolvency administrators.
Labor Market Regulation: Estonia eliminated the applicable priority rules for dismissals as well as the obligation to notify and obtain the
approval of a third party in case of redundancy dismissals. It also removed restrictions on night work and reduced notice period and
severance payment applicable in case of redundancy dismissals.
DB2010
Registering Property: Estonia made registering property easier by computerizing property records at the land registry and thereby
enabling notaries to carry out the process online.
Resolving Insolvency: Estonia enhanced its insolvency process by establishing a new reorganization procedure to enable financially
distressed companies to restructure their debt and apply other means to restore financial health and profitability.
DB2008
Starting a Business: Estonia made starting a business easier and less costly by introducing standard articles of association and a fixed fee
schedule for company registration.
Page 55
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Doing Business 2019

Economy Profile of Estonia

Doing Business 2019 Indicators

Getting credit Movable collateral laws and credit information systems

About Doing Business

More about Doing Business (PDF, 5MB)

Ease of Doing Business in DB 2019 Rank

City Covered Tallinn 80.50

DB 2019 Ease of Doing Business Score

80.83: Lithuania (Rank: 14)

80.50: Estonia (Rank: 16)

80.35: Finland (Rank: 17)

79.59: Latvia (Rank: 19)

77.80: Regional Average (OECD high income)

Rankings on Doing Business topics - Estonia

Ease of Doing Business Score on Doing Business topics - Estonia

What the indicators measure Case study assumptions

Paid-in minimum capital (% of income per

• Funds deposited in a bank or with third party

Starting a Business - Estonia

Legal form Private Limited Company (osaühing or OÜ)

Paid-in minimum capital requirement EUR 2,500

City Covered Tallinn

Indicator Estonia OECD high Best Regulatory

Procedure – Men (number) 3 4.9 1 (New Zealand)

Time – Men (days) 3.5 9.3 0.5 (New Zealand)

Cost – Men (% of income per capita) 1.1 3.1 0.0 (Slovenia)

Procedure – Women (number) 3 4.9 1 (New Zealand)

Time – Women (days) 3.5 9.3 0.5 (New Zealand)

Cost – Women (% of income per capita) 1.1 3.1 0.0 (Slovenia)

DB 2019 Starting a Business Score

95.25: Estonia (Rank: 15)

94.13: Latvia (Rank: 24)

93.18: Lithuania (Rank: 31)

92.52: Denmark (Rank: 42)

92.43: Finland (Rank: 43)

91.19: Regional Average (OECD high income)

Figure – Starting a Business in Estonia – Procedure, Time and Cost

Time (days) Cost (% of income per capita)

Cost (% of income per capita)

Details – Starting a Business in Estonia – Procedure, Time and Cost

No. Procedures Time to Complete Associated Costs

According to subsection 20(1) of the Value-Added Tax Act, an application for

Takes place simultaneously with previous procedure.

Dealing with Construction Permits

What the indicators measure Case study assumptions

Dealing with Construction Permits - Estonia

Estimated value of warehouse EUR 856,807.90

City Covered Tallinn

Indicator Estonia OECD high Best Regulatory

Procedures (number) 10 12.7 None in 2017/18

Time (days) 103 153.1 None in 2017/18

Cost (% of warehouse value) 0.2 1.5 None in 2017/18

Building quality control index (0-15) 11.0 11.5 15.0 (3 Economies)

DB 2019 Dealing with Construction Permits Score

86.94: Denmark (Rank: 4)

84.86: Lithuania (Rank: 7)

82.53: Estonia (Rank: 14)

75.79: Finland (Rank: 34)

75.41: Regional Average (OECD high income)

73.46: Latvia (Rank: 56)

Time (days) Cost (% of warehouse value)