Legal notice and website terms of use

1.1.Website owner. The averium.ee website, including all its language versions (English, Estonian, Russian and Ukrainian), subdomains and related pages (the “Website”), belongs to and is administered by the following person:

1.2.Information society service provider details. The information set out in clause 1.1 is published in compliance with § 4 of the Information Society Services Act (Infoühiskonna teenuse seadus), which requires an information society service provider to provide direct and permanent access to its identification data.

1.3.Applicable legislation. The use of the Website and these terms are subject to the Law of Obligations Act (Võlaõigusseadus, hereinafter “VÕS”), the Information Society Services Act, the Copyright Act (Autoriõiguse seadus), the General Data Protection Regulation (EU) 2016/679 and the Personal Data Protection Act (Isikuandmete kaitse seadus). The Consumer Protection Act (Tarbijakaitseseadus) and the mandatory provisions of VÕS on consumer contracts apply only where a visitor to the Website acts as a consumer, that is, a natural person acting outside their economic or professional activity. Averium's services are aimed at businesses and legal persons (B2B); the reservations that apply to consumers are set out separately in this document.

1.4.Document structure. This Legal Notice applies together with the Privacy Policy, the Cookie Policy, the Client Acceptance Policy and the Prohibited and Restricted Jurisdictions Policy published on the Website. Relationships with clients for the provision of services are governed by the service agreement (engagement letter) and the general terms of service, which take precedence over this document to the extent that they apply.

2.1.Not a law office. Averium Consulting OÜ is not a law office within the meaning of the Bar Association Act (Advokatuuriseadus) and is not a member of the Estonian Bar Association. Averium's employees and consultants do not act towards clients as sworn advocates (vandeadvokaat) or as assistants to sworn advocates: under the Bar Association Act, an advocate provides legal services only through a law office. This means that advocates' professional secrecy and the professional privileges within the meaning of § 43 and § 45 of the Bar Association Act do not apply to the relationship with Averium. Instead, the confidentiality of client information is ensured by contractual obligations and § 625 VÕS, professional ethics, the provisions of the Privacy Policy and the rules on trade secrets. Where a matter requires the involvement of a sworn advocate (for example, representation in cassation proceedings or privileged correspondence), Averium engages a partner law office under a separate agreement with the client.

2.2.Not a financial institution. Averium Consulting OÜ is not a credit institution, payment institution, electronic money institution, investment firm, crypto-asset service provider (CASP) or other entity subject to financial supervision, holds no licence from the Financial Supervision and Resolution Authority (Finantsinspektsioon) and does not provide payment services, investment services, electronic money services, or services for the exchange, custody or transfer of crypto-assets. Averium does not accept, hold or transfer the funds of clients or third parties, does not open accounts in its own name for the benefit of clients and does not act as an agent or distributor of financial institutions. Advice on the choice of a bank or payment institution is purely analytical and organisational in nature: the decision to establish a business relationship is taken by the institution concerned independently.

2.3.Other limitations. Averium is not an auditor or an audit firm and does not provide statutory audit services; is not a notary and does not perform notarial acts; is not a sworn translator and does not certify translations; and is not a licensed tax adviser (no such licence exists in Estonia, and tax advice is provided as part of general legal and business consulting). Where a result requires a notary, an auditor, a sworn translator or a sworn advocate, Averium arranges for their involvement, but those persons perform the acts themselves and under their own responsibility.

2.4.Obliged entity under RahaPTS. Averium Consulting OÜ is an obliged entity under the Money Laundering and Terrorist Financing Prevention Act (Rahapesu ja terrorismi rahastamise tõkestamise seadus, RahaPTS) as a provider of accounting services and tax advice, company formation services and legal services in clients' transactions (RahaPTS § 2(1)(7)–(9) and (2)). This means mandatory client due diligence before work begins, sanctions screening, retention of due diligence data and, in the cases provided for by law, reporting to the Financial Intelligence Unit without informing the client. For details, see the Client Acceptance Policy.

2.5.Partner firms. The legal and consulting firms in other jurisdictions with which Averium cooperates are independent legal entities. They are not branches, subsidiaries or agents of Averium, and Averium is not their agent. The reference to “36 jurisdictions” and similar wording on the Website means the geographic coverage provided jointly with partner firms, not that Averium has its own offices or licences in those countries. The terms on which a partner firm is engaged in a particular matter are determined by the agreement with the client.

2.6.Services are provided under an agreement. The Website is not a channel for providing services. All services are provided only under a written service agreement concluded after client due diligence and agreement on the scope of work and the fee.

3.1.Informational nature. All materials on the Website – service descriptions, blog articles, answers to frequently asked questions, overviews of legislation, case studies and reference tables – are published for general information purposes only. They do not constitute legal, tax, financial, investment or other professional advice, do not take into account the circumstances of any particular person and cannot replace advice on a specific situation.

3.2.Currency. The materials reflect the state of legislation and practice as at the date of their publication or last update stated in the material. Legislation and the practice of banks, regulators and courts change; Averium does not undertake to update previously published materials and does not guarantee that they are current at the time of reading.

3.3.Jurisdiction. Unless the material states otherwise, it describes the law of the Republic of Estonia and applicable European Union law. Applying the approaches described in other jurisdictions may be incorrect or impermissible.

3.4.Not an offer. Information about services and prices on the Website is not an offer within the meaning of § 16 VÕS but an invitation to send an enquiry (an invitation to make offers). Where prices marked “from” are shown on the Website, they are indicative minimum figures for standard engagements; the final fee is determined in an individual proposal after the scope of work has been assessed and may differ. All prices are stated in euros exclusive of VAT unless otherwise stated; state fees, notarial and registration fees, translation costs and third-party services are not included in the price.

3.5.Decision-making. Any decision you take on the basis of the Website's materials is taken at your own risk. Before taking a decision with legal, tax or financial consequences, we recommend that you seek advice from Averium or another qualified professional that takes your circumstances into account.

4.1.An enquiry does not create a contract. Sending an enquiry through the Website form, by e-mail, through a messaging app or by telephone, and Averium's reply to such an enquiry, do not create a client relationship, do not constitute the conclusion of a contract and do not give rise to any obligation on Averium to provide a service. A client relationship arises only when the parties sign a service agreement (engagement letter) after client due diligence has been completed.

4.2.Conflict of interest and compliance check. Before accepting an engagement, Averium checks that there is no conflict of interest and that the prospective client satisfies the Client Acceptance Policy. Averium may refuse an engagement without giving reasons and, in the cases provided for in § 42 RahaPTS, is required to refuse it.

4.3.Confidential materials before a contract is concluded. Until the agreement is signed, do not send Averium confidential documents, trade secrets or information constituting the secrets of third parties, other than the minimum information needed to describe the matter and to carry out the checks. Information received before a contract is concluded is processed in accordance with the Privacy Policy and is used only to assess whether the engagement can be accepted; however, until a contract is concluded, that information is covered only by the prohibition laid down in § 14(4) VÕS on disclosing it to other persons and on using it in bad faith in the recipient's own interests, and not by the contractual confidentiality obligations set out in the general terms of service.

4.4.E-mail is not secure. Ordinary e-mail is not a secure communication channel. For the transfer of confidential materials, Averium agrees a secure method of exchange with the client (encrypted attachments, secure cloud storage, electronically signed containers).

4.5.Response time. The response time stated on the Website, “within one business day”, is a target service standard and not a contractual obligation; failure to meet it does not give rise to any liability on the part of Averium. Business days are working days in the Republic of Estonia.

4.6.Urgent matters. If your matter is subject to a procedural or administrative deadline (a deadline for an appeal, for replying to a bank or regulator, or for filing a return), be sure to state it in your enquiry. Until the agreement is signed, Averium is not responsible for meeting such deadlines.

5.1.Anonymisation. The case studies published on the Website are anonymised: details that could identify the client, counterparties, banks and other participants have been changed or removed; certain circumstances may have been generalised or combined from several matters. Any resemblance to real persons who are not clients of Averium is coincidental.

5.2.No guarantee of results. The results described were achieved in specific circumstances and do not guarantee a similar result in other matters. Decisions to open an account, grant a licence, issue a residence permit, or uphold a complaint or claim are taken, respectively, by banks and payment institutions, regulators, the Police and Border Guard Board, tax authorities and courts – on their own and independently of Averium.

5.3.Figures. The figures given on the Website (the number of jurisdictions, practice areas and staff, timeframes, amounts) reflect the position as at the date of the Website's update, are for information only and are not representations within the meaning of VÕS.

6.1.Averium's rights. All rights in the content of the Website – texts, the structure and selection of materials, design, graphics, icons, photographs, videos, software code, databases – and in the designation “Averium” (used as a trade mark and business name), the logo and the corporate identity belong to Averium Consulting OÜ or are used under licence. The content of the Website is protected by the Copyright Act, the Trade Marks Act (Kaubamärgiseadus), European Union law and international treaties.

6.2.Licence to use the Website. Averium grants you a limited, non-exclusive, revocable, non-transferable licence to view the Website and its materials for personal and internal business purposes. No other rights are granted.

6.3.Permitted quotation. The Website's materials may be quoted to the extent justified by the purpose of the quotation, in the manner and within the limits laid down in § 19 of the Copyright Act, provided that the source is always cited as “Averium Consulting OÜ, averium.ee”; when publishing online, please include an active link to the original page.

6.4.Prohibited use. Without Averium's prior written consent, it is prohibited to: reproduce, adapt, translate, distribute or publish the Website's materials in whole or in substantial part; use the materials for commercial purposes, including in your own information products; carry out systematic or automated data extraction (scraping, parsing, crawling) beyond what the Website's robots.txt file permits; use the Website's materials to train, fine-tune, evaluate or test artificial intelligence models and machine learning systems, unless this is permitted by the Website's robots.txt file or by law; embed pages of the Website in other resources (framing, mirroring); remove or alter copyright and trade mark notices; use the name “Averium”, the logo and the corporate identity in a way that creates the impression of a connection with Averium or of its endorsement.

6.5.Third-party materials. The Website may contain materials in which the rights belong to third parties (licensed images, partner logos). Such materials are used with the permission of the right holders or on a lawful basis; the rights in them remain with the right holders.

6.6.Infringement. If it discovers an infringement of intellectual property rights, Averium may demand that the infringement cease, that the materials be removed and that damages be paid. If you believe that materials on the Website infringe your rights, please report it to info@averium.ee with a description of the material and the basis of your rights.

7.1.General rule. The Website may be used only for lawful purposes and in accordance with these terms.

7.2.Prohibited actions. It is prohibited to: interfere with the operation of the Website, servers or networks; gain unauthorised access to the Website, its administrative area, accounts or systems; circumvent technical protection measures and access restrictions; place or transmit malicious code; place an excessive load on the Website, including by means of automated requests; use bots, scripts or other automated means to access the Website, except for well-known search engines and other robots permitted access by the Website's robots.txt file; carry out security testing without Averium's written consent; use the Website to send unsolicited messages, for phishing or to mislead; impersonate Averium, its employees or partners.

7.3.Response measures. If these terms are breached, Averium may, without notice, restrict or block access to the Website from particular addresses and networks, remove transmitted materials, notify law enforcement authorities and take other lawful measures.

7.4.Responsible vulnerability disclosure. If you discover a vulnerability in the Website, report it to info@averium.ee marked “Security”, without exploiting the vulnerability and without accessing data beyond what is necessary to demonstrate it. Averium appreciates good-faith reports and takes no legal action against researchers who act in good faith and within the scope of this clause.

8.1.Enquiry form. The enquiry form transmits your name, e-mail address, company name and a description of your matter. This data is processed in accordance with the Privacy Policy solely to reply to the enquiry and to assess whether the engagement can be accepted.

8.2.Accuracy. By submitting data through the Website, you confirm that it is accurate, that you are entitled to transmit it (including any third-party data contained in the enquiry) and that its transmission does not infringe the rights of third parties, the law or contractual obligations.

8.3.Prohibition of misuse. It is prohibited to use the Website's forms to send advertising, spam or offers unrelated to Averium's services, to transmit malicious files or for mass automated submissions.

8.4.Rights in submitted materials. The rights in materials you submit through the Website or by e-mail remain with you. You grant Averium the right to use such materials to the extent necessary to reply to the enquiry, carry out client due diligence and provide the services.

9.1.External links. The Website contains links to external resources: state registers, regulators' websites, legislative databases, partner firms' websites and third-party services. Such links are provided for convenience. Averium does not control the content of external resources, is not responsible for their content, availability or data processing policies, and does not endorse their content by the mere fact of providing a link.

9.2.Links to the Website. You may link to the Website and to its individual pages (including deep links), provided that the link leads to the original page of the Website without framing, does not create a false impression of a connection with, sponsorship by or endorsement by Averium, is not placed on resources whose content is unlawful or damages Averium's reputation, and is not used in a misleading context. Averium may require the removal of a link that breaches these conditions.

10.1.No warranties. The Website and its materials are provided “as is” and “as available”. To the extent permitted by law, Averium gives no warranties, express or implied, as to the accuracy, completeness, currency or fitness for a particular purpose of the materials, the uninterrupted and error-free operation of the Website, its compatibility with your equipment, or the absence of viruses and other harmful components.

10.2.Limitation. To the extent permitted by law, Averium is not liable for losses arising in connection with the use of, or inability to use, the Website and its materials, including loss of profit, loss of data, reputational damage and other indirect losses, for actions taken on the basis of the Website's materials without obtaining advice, for the content of external resources, or for unauthorised access by third parties to data transmitted through unsecured channels.

10.3.Mandatory provisions. Nothing in this document excludes or limits Averium's liability where such exclusion or limitation is not permitted by law, in particular liability for intentional breach (§ 106 VÕS), for gross negligence and for causing death or injury to health (§ 42(3)(1) and § 44 VÕS), and liability towards consumers to the extent of mandatory provisions.

10.4.Contractual relationships. Averium's liability to clients under service agreements is governed by the relevant agreement and the general terms of service, not by this document.

11.1.The processing of personal data of Website visitors, persons who have sent an enquiry and clients is governed by the Privacy Policy published on the Website.

11.2.The use of cookies and similar technologies is governed by the Cookie Policy. At present, the Website sets only two necessary cookies, for the selected language (NEXT_LOCALE) and for your choice in the cookie banner (averium_consent), and does not use analytics or marketing cookies; if such tools are introduced, they will be set only with your consent, which you can change in “Cookie settings” at any time.

11.3.The controller is Averium Consulting OÜ; data protection requests should be sent to privacy@averium.ee.

12.1.Official channels. Averium conducts official e-mail correspondence only from addresses in the @averium.ee domain. Messages from other domains, including look-alike domains (for example, with characters replaced or added), are not sent on behalf of Averium.

12.2.Bank details. Averium never notifies changes to its bank details by e-mail or through messaging apps. Payment details are stated in the agreement and in an invoice signed with an electronic signature or sent from an official address. If you receive a message about a change of bank details, an urgent payment or a transfer to a third party's account, do not make the payment, and confirm the details by telephone or in person with an Averium contact person known to you.

12.3.Phishing and fraud. Report to info@averium.ee any messages, websites and calls in which third parties impersonate Averium, its employees or partners. Averium is not liable for damage caused by the actions of third parties impersonating Averium unless those actions resulted from Averium's fault.

12.4.Electronic signatures. Averium signs agreements and documents with a qualified electronic signature (Estonian ID card, Mobile-ID, Smart-ID, e-Residency) or another signature agreed with the client. Signatures can be verified in the DigiDoc application or in equivalent tools for verifying EU qualified signatures.

12.5.Misdirected messages. If you have received a message from Averium that was not addressed to you, please notify the sender, delete the message and do not use or disclose its contents.

13.1.The Website and these terms are published in English, Estonian, Russian and Ukrainian. The translations are provided for the convenience of visitors.

13.2.In the event of any discrepancy between the language versions of these terms and of the Website's policies, the English version prevails unless the agreement with the client provides otherwise. For service agreements, the prevailing language version is determined by the agreement.

13.3.Translations of legal acts and terminology given in the Website's materials are not official; the official texts of Estonian legal acts are published in Riigi Teataja (riigiteataja.ee (opens in a new tab)), and those of EU acts in EUR-Lex (opens in a new tab).

14.1.Procedure. Requests, comments and complaints relating to the Website, its materials or these terms should be sent to info@averium.ee or by post to Maakri tn 19/1, 10145 Tallinn. State the substance of your request, the page or material it concerns and your contact details.

14.2.Response time. Averium acknowledges receipt of a request within 2 business days and gives a substantive reply within 14 calendar days. If more time is needed to reply, Averium says so and indicates the expected timeframe.

14.3.Client complaints. The procedure for handling client complaints about the quality of services is set out in the service agreement and the general terms of service.

14.4.Consumers. If you are a consumer and the dispute could not be settled with Averium, you may apply to the Consumer Disputes Committee (Tarbijavaidluste komisjon), which operates at the Consumer Protection and Technical Regulatory Authority (Tarbijakaitse ja Tehnilise Järelevalve Amet, TTJA, Endla 10a, 10122 Tallinn, info@ttja.ee, www.ttja.ee (opens in a new tab)); an application can be submitted electronically on the TTJA website. The European Commission's online dispute resolution (ODR) platform ceased operating on 20 July 2025 and is no longer available.

14.5.Data protection. Complaints about the processing of personal data are handled in accordance with the procedure set out in the Privacy Policy; the supervisory authority is the Data Protection Inspectorate (Andmekaitse Inspektsioon, Tatari 39, 10134 Tallinn, info@aki.ee).

15.1.These terms, the use of the Website and any disputes arising from them are governed by the law of the Republic of Estonia, excluding its conflict-of-laws rules.

15.2.Disputes are resolved by negotiation; failing agreement, by Harju County Court (Harju Maakohus) as the court of first instance.

15.3.If you are a consumer, clauses 15.1 and 15.2 do not deprive you of the protection afforded by the mandatory provisions of the law of the country of your habitual residence in the cases provided for in Regulation (EC) No 593/2008, or of the right to bring proceedings in the court of your place of residence in the cases provided for in Regulation (EU) No 1215/2012 and § 90 of the Estonian Code of Civil Procedure (Tsiviilkohtumenetluse seadustik).

15.4.The invalidity of any provision of these terms does not render the remaining provisions invalid; an invalid provision is replaced by a valid provision that comes closest to its purpose.

16.1.Averium may amend these terms at any time. A new edition takes effect on its publication on the Website, with the edition date shown at the beginning of the document, unless it specifies a different effective date.

16.2.Continued use of the Website after a new edition has been published constitutes acceptance of it. We recommend checking the current edition periodically.

16.3.Previous editions are available on request at info@averium.ee.

This table summarises the representations of Averium on which clients, banks, payment institutions and other counterparties may rely when assessing a business relationship with Averium and its clients.