Estonian E-residency

in #finance7 years ago (edited)

Estonia is creating a borderless digital society for global citizens as the first country to offer e-Residency.

e-residency-id-card.jpg

E-Residency is a transnational digital identity that anyone in the world can apply for to obtain access to a platform built on inclusion, legitimacy and transparency. E-residents then have access to the EU business environment and can use public e-services through their digital identity.

The primary reason e-residents are joining this community is to run a trusted location-independent EU business online with all the tools needed to conduct business globally.

e-Residents can:

  • Establish and manage a location-independent company online from anywhere in the world

  • Establish a trusted EU company online in one day

  • Manage the resulting company fully online

  • Apply for a business bank account and credit card, and conduct secure e-banking

  • Access international payment service providers (Paypal, Braintree, etc.)

  • Digitally sign and transmit documents

  • Declare Estonian taxes online

Why open a company in Estonia?

  • Membership of the EU, NATO, OECD and eurozone provides advantages and stability

  • Low startup and maintenance costs

  • Growth is incentivized with 0% corporate tax on reinvested profits

  • Minimal bureaucracy and a clear tax framework

  • Minimal corruption in a transparent business environment

  • Trade in euros to mitigate the risk of currency fluctuations

E-residents receive a digital ID-card with two PIN numbers for secure digital authentication and digital signatures. Secure digital signatures are legally equivalent to a handwritten signature and face-to-face identification in Estonia, as well as between partners upon agreement anywhere around the world.

e-Residency is Estonia’s gift to the world – the opportunity for anyone, anywhere to succeed as an entrepreneur.

source: https://e-estonia.com/solutions/e-identity/e-residency/

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seems great and what is the cost structure associated

"You can contract with a virtual office service provider to obtain a legal address in Estonia. It costs around €200/year and solves the problem. It’s a cheap price to pay to escape from loads of paperwork."

https://www.contriber.com/e-residency-estonia/

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