Management Board

Directors, board or management board

Directing body

A private limited company must have a management board. The management board is the directing body of the private limited company that represents and directs the business of the company. The management board may have one member (director) or several members. A member of the management board need not be a shareholder. A member of the management board must be a natural person with active legal capacity.

Place of residence

If the members of the management board of the Estonian company are residing outside of Estonia, then there is an obligation to appoint a contact person to receive procedural documents. As a licensed service provider, KRM Advisor can act as a contact person in your company.  


It is not obligatory to pay salary to members of the management board, but if it is decided to pay, the amount of remuneration payable shall be determined by a resolution of the shareholders.