Estonia, EU – Baltic States, Good for Business, Markets and Companies

There are approximately 4,000 Finnish companies, which actively operate in Estonia attracted by lower labor costs than at home as well as a general business-friendly atmosphere, writes LETA.

"One great advantage is that if you want to grow and invest, the state doesn't step in to take taxes, unless you take profits out of the company," explained Timo Parmasuo, the chairman of the board of Meconet Oy, a Finnish metal components manufacturer.

In past years, most of the Finnish companies setting up in Estonia have been in the metals and machine shop sector. Currently design companies, architect offices and IT companies have increasingly shown interest in moving to Estonia.

For years to come, Estonia is likely to retain its corporate appeal at least until the end of the decade.