Estonian and Norwegian governments have adopted a number of measures to help companies. Find out more here 👇
March 30, 2020
Economic stimulus package Estonia
In order to mitigate the impact of the coronavirus on the Estonian economy and entrepreneurs, the Government of the Republic Estonia has developed a package of urgent economic measures. Please find enclosed stimulus package decision (by pressing the button below) translated in English, Russian, Finnish, Swedish, German and Norwegian languages.
Extraordinary residence permit applications during the national emergency situation.
Persons covered by the specific application are:
Owners and board members who are directly involved in the executive management of the company operating in Estonia.
Owners who are in the process of investment in the company established in Estonia. Owners who require a residence permit to execute all the necessary activities to complete the investment.
A special application is found at firstname.lastname@example.org. Application feedback is provided within 24 hours.
Terms of the temporary salary compensation paid through the Unemployment Insurance Fund
To grant an income for the employees and help employers to overcome temporary difficulties, the government has entered into force a regulation introducing a temporary salary compensation paid through the Unemployment Insurance Fund on March 23, 2020.
If you have any questions regarding the fulfilment of the prerequisites for the salary compensation, please contact email@example.com.
The basic terms and conditions for the salary compensation are the following
The temporary salary compensation is paid to an employee whose employer is significantly impacted by the emergency situation.
The salary compensation is paid, when an employer is in a situation where they comply with at least two of the following terms:
the employer must have suffered at least a 30% decline in turnover or revenue for the month they wish to be subsidized for, as compared to the same month last year;
the employer is not able to provide at least 30% of their employees with work at the agreed volume;
the employer has cut the wages of at least 30% of employees by at least 30% or down to the minimum wage.
The amount of salary compensation will be 70% of the average monthly wage of the employee. The maximum amount of salary compensation is €1000. In addition to that, the employer must pay a wage of at least €150 to the employee.
The Unemployment Insurance Fund will pay all taxes on the salary compensation (treated as wages) and the employer will pay the taxes on the employee’s wage.
To qualify for the salary compensation, the employer must pay the minimum wage for the emergency situation and then apply for the temporary salary compensation within 5 calendar days. The employer will send a separate application to the Unemployment Insurance Fund per each month.
The salary compensation shall be payable for the period from March 1, 2020, to May 31, 2020, but for no more than two calendar months during which the terms were met.
The explanations provided by the Unemployment Insurance Fund can be found here:
What State measures are available or are being planned for your company in each of the Baltic States?
As of the 24th of March, the Baltic governments have adopted a number of measures to help companies, the most important of which are outlined in the overview table on the link (please press the button below for more info).
New measures are being introduced daily, and the table only covers the most important support instruments currently (as of 24.03.2020) implemented or proposed. It is only intended to give a general comparison across the Baltic countries. COBALT will update the table above as necessary to also cover further major measures.