Nonprofit organization

The defination of a NPO is not to earn an income from economic activity but it can be economically active, like holding a bank account, entering into contracts and paying salaries.
The income of a NPO may be used only to achieve the goals specified in its articles of association. A NPO shall not distribute profits among its members (may not pay dividends).
The management board organizes the accounting of NPO. Accounting is similar to the limited liability company (OÜ).
Registration process usually takes up to 1 week.