At today’s plenary sitting, the Riigikogu passed the Act that creates the possibility to apply for citizenship under a simplified procedure for minors who were born in Estonia and whose parents or grandparents have resided here before the restoration of the independence of the Republic of Estonia.
The Act on Amendments to the Citizenship Act (58 SE), initiated by the Government, concerns minors one of whose parents is of undetermined nationality and whose other parent is a citizen of a foreign country. A minor acquires Estonian citizenship at the request of his or her legal representative if his or her parent or grandparent was a resident of Estonia as at 20 August 1991. If a minor who wishes to acquire Estonian citizenship is a citizen of another country, he or she must first renounce citizenship of the relevant country. A Resolution of the Government on the granting of Estonian citizenship enters into force on the day following the day on which the certificate to the effect that the person has been released from citizenship of the other country is submitted to the governmental authority authorised by the Government.
During the debate, Andrei Korobeinik (Centre Party), Hanno Pevkur (Reform Party) and Jevgeni Ossinovski (Social Democratic Party) took the floor on behalf of the factions.
64 members of the Riigikogu voted in favour of the passage of the Act and 26 voted against.
Two Bills passed the first reading:
The Bill on Amendments to the Commercial Code (transfer of share) (117 SE), initiated by the Government, will simplify the transfer of shares of private limited companies and eliminate unnecessary restrictions and formal requirements. The minimum value of a share will be set at one cent instead of the current one euro which will allow to determine the amounts of the shares of private limited companies more flexibly. The notarisation requirement will generally remain in force as a formal requirement for the disposition for the transfer and pledge of a share. Only private limited companies with a share capital exceeding 25,000 euro will be able to waive this requirement with the consent of all partners.
During the debate, Toomas Kivimägi (Reform Party), Siim Kiisler (Isamaa) and Riina Sikkut (Social Democratic Party) took the floor.
The Bill on Amendments to the Commercial Code, the Notarisation Act and the Notary Fees Act (101 SE), initiated by the Legal Affairs Committee, is intended to simplify the legal transactions performed with the shares of private limited companies and to eliminate unnecessary restrictions and formal requirements. In the drafting of the amendments, particular account has been taken of the interests of private limited companies with a circle of international shareholders, and the problems that have become apparent in practice. The purpose of the Bill is to make Estonian private limited companies as a form of enterprise more attractive in competition with such forms of enterprise in other countries, in particular other European Union Member States. The Bill is intended to reduce situations where investors choose not to use Estonian private limited companies to carry out business projects related to Estonia because this is too complicated or costly.
Video recordings of the sittings of the Riigikogu can be viewed at https://www.youtube.com/riigikogu
(The recording will be uploaded with a delay.)
Your feedback is important. Please share it with us!