This page contains a Flash digital edition of a book.
After Hours


TRAVEL Estonia


ESTONIA, A TINY COUNTRY OF about 1.3 million citizens, is many things: a former Soviet republic, a Baltic country and a member of the European Union — the one with the lowest debt-to-GDP ratio. The birthplace of Skype, it’s also one of the most digitally advanced countries in the world.


When it regained independence in 1991, Estonia had a chance to build new systems — everything from banking to government — from scratch and it used best practices from western nations while dispensing with those it saw as outdated. The Index of Economic Freedom, an annual guide published by The Wall Street Journal and US think-tank The Heritage Foundation, ranked Estonia’s economy as the eighth freest in the world (out of 178) and second in Europe in 2015. Its efficient reforms from 1991 onward and its openness to foreign capital have been behind its economic success.


Facts for investors


1 TALLINN is the capital and the financial centre.


2 ESTONIA ranks 17th out of 189 countries on the World Bank’s 2015 Ease of Doing Business index.


3 ESTONIA RANKED 22nd out of 146 countries surveyed in Forbes’ Best Countries for Business list.


4 THE E-RESIDENCY PROGRAM offers a government-issued digital ID card to foreigners who want to do business with an Estonian-registered company. You can digitally sign and encrypt documents, conduct e-business, access online payment service providers and pay your taxes online.


Business etiquette 1 GET THE LOOK Dress the way you would


58 | CPA MAGAZINE | DECEMBER 2015


for business in Canada. Suits for men, dresses and suits for women.


2 TAME YOUR GREETING More reserved than Canadians on first meeting, Estonians will shake hands and simply say “tere,” which means “hello.” They may come across as cold but eventually they’ll warm up.


3 MEETING EATS Lunch will be provided for long meetings. Estonian cuisine is exceptional, with many modern takes on traditional fare, such as herring tartare with pickled beetroot and cloudberry crème brûlée.


4 TICKTOCK Estonians are extremely punctual. Arrive on time — not two minutes late or two minutes early.


5 DEVICE VICES Mobile phones are kept off during meetings unless there are exceptional circumstances.


Travel tips


1 WEATHER The country has warm, dry summers and cold winters. July is the warmest month; summer temperatures are typically about 20 C, while January and February are the coldest, with tem- peratures below 0 C, occasionally dipping to -20 C. Spring and fall can be rainy.


2 WI-FI Aſter decades of oppression, free Wi-Fi is considered a basic human right; the law states that all must have free ac- cess to it. Pubs, restaurants and corner stores provide access to those in their vicinities.


3 LANGUAGES The official language is Estonian. Although Russian is the first language for about 30% of the population, English is widely spoken by younger people and in urban areas.


4 TIPPING It’s common practice to tip 10% to 15% in restaurants.


5 GETTING AROUND Direct flights are available from Tallinn to many other European cities, such as Helsinki. A bus ride to Latvia’s capital, Riga, takes only four-and-a-half hours, while the train to St. Petersburg takes about seven-and-a- half hours. — Jennifer Campbell


Stanley Chen Xi/Getty


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68