Ministry of Finances sent instructions to entrepreneurs for transition to euro

The Ministry of Finances, in co-operation with the Centre of Registers and Information Systems (RIK), has sent an electronic memo to all enterprises and commercial associations registered in the Commercial Registry.
29. 06. 2010

The e-letter sent to entrepreneurs contains links to the informative brochure in Estonian and Russian languages, published at the “Euroveeb” website at and explaining in an integral manner all matters of entrepreneurship related to transition to the euro. Direct link to the brochure: brošüürile.

“Estonia has fulfilled the Maastricht criteria and there is high probability that we will start using the euro from January 1, 2011. This means that all entrepreneurs must already start the technical preparations for the transition. With this letter, we wish to draw the attention of all enterprises to the coming changes in due time, because six months is a relatively short period,” said Ingvar Bärenklau, Project Manager of Euro Communications in the Ministry of Finances.

The brochure has been prepared by the euro communication task group of specialists in the field of transitioning to the euro. Additionally, the information letter included the Regulation of the Minister of Economic Affairs and Communications from June 4, published in the Riigi Teataja (State Gazette), which establishes the obligation to indicate prices in parallel as EEK and EUR amounts starting from July 1, 2010; also, instructions for performing this obligation were enclosed to the letter. Direct links: the regulation and the instructions.

According to Bärenklau, the posting of this letter was started on Monday, June 7, and the letter was sent to a total of 96,543 addressees. The sending of the e-mails took seven hours and was finished only shortly before the midnight. “The interest of entrepreneurs toward our information letter has been higher than expected, many additional questions have been asked and interest has been expressed towards additional materials,” said Bärenklau.

There is comprehensive information available about transitioning to the euro in Estonia at the “Euroveeb” website at, which has been created specifically for that purpose and includes practical information about currency exchange procedures, price rounding, exchange rate and also about details of contracts and accountancy. There is also a free-of-charge Euroinformation telephone number 800 3330, which answers calls in both Estonian and Russian language.