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What's the Difference Between Shareholders and Board Members?

Shareholders are the individuals or entities that own company shares, giving them control over that company.

The members of the board don’t control the company (unless they are also shareholders), but they make the day-to-day decisions of the business. In a startup context, a board member may be the CEO, CTO, or CMO. Learn more about these roles – and how they relate to your company in Estonia in this article.

In Estonia, most decisions can be made by any director. However, certain changes, especially those affecting the registry and requiring online signing, must be signed by a majority of the directors (board). It’s not entirely one or the other; it’s a mixed system.

In an e-resident company, a director is typically a management board member of the company, as per Estonian rules. The director may also be the sole owner of the company and has the responsibility of managing the company's affairs.

Updated on: 21/02/2024

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