The role of a notary in Estonian business transactions

Aug 7, 2023 | Business, Estonia

In the dynamic landscape of the Estonian economy, various legal procedures and professionals play a central role in ensuring transparent and secure transactions. Among these professionals, notaries occupy a special place due to their significant contribution to business transactions. This blog post looks at the important role notaries play in Estonian business transactions, highlighting their roles, importance and the benefits they have for entrepreneurs and investors alike.

Notarisation of legal documents:

Notaries in Estonia play a crucial role in the authentication and certification of legal documents. When establishing a business, transferring property rights or concluding contracts, notaries ensure the legality and validity of documents. Their seal and signature lend authenticity and credibility to these documents and provide a solid legal basis for business transactions.

Notarise signatures:

In many business transactions, notaries act as witnesses for the signing of important documents. This witnessing provides additional security and prevents potential disputes over the authenticity of signatures. Notaries verify the identity of the parties involved and confirm their agreement to the terms, minimising the risk of fraud or misunderstanding.

Legal advice and consultation:

Notaries have in-depth knowledge of Estonian laws and regulations related to business transactions. Entrepreneurs and investors can benefit from their expertise by seeking legal advice and consultation. Notaries guide parties through the legal intricacies of contracts, agreements and other documents to ensure compliance and minimise legal risks.

Fiduciary services:

Notaries often act as intermediaries in escrow services for complex business transactions. This involves holding assets or funds in trust until certain conditions are met. By overseeing the escrow process, notaries provide a level of security and impartiality that builds trust between the parties involved.

Property transfers and real estate transactions:

In real estate and property transactions, notaries oversee the transfer of ownership and ensure that all legal requirements are met. They conduct thorough due diligence, verify property titles and notify changes in ownership to the relevant authorities. This thorough process safeguards the rights of buyers and sellers alike.

The role of notaries in Estonian business transactions cannot be overstated. Their diverse tasks include notarising documents, providing legal advice, certifying signatures and facilitating complex transactions. By upholding the principles of legality and transparency, notaries contribute significantly to the overall business environment in Estonia. Whether you’re a local entrepreneur or an international investor, understanding the role of notaries is essential to smoothly navigate the Estonian business world.

At BBCTallinn, we understand the importance of notaries in ensuring the legality and security of business transactions. Our comprehensive business services include legal advice, company formation and much more. A dedicated team of experts will guide you through every step of your business journey. Contact us today to find out how we can assist you with your business ventures in Estonia.

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