Breaking Down Borders: 23 facts that make Estonia’s e-Residency Program a game-changer
The world is becoming increasingly digital, and governments around the world are looking for innovative ways to attract businesses and investors to their countries. Estonia, a small country in Northern Europe, has taken a bold step in this direction. You can start your company in Europe with the help of e-Residency program.
‘’The program allows anyone, regardless of their location, to become a digital resident of Estonia and establish and run a company entirely online.’’
Today we'll take a closer look at the Estonian e-Residency program and explore 23 facts that make it a game-changer for entrepreneurs and investors around the world.
1. The Estonian e-Residency program was launched in 2014, making Estonia the first country in the world to offer a digital residency program.
2. The program has attracted over 100,000 e-residents from 170+ countries, and more than 25,000 e-Resident companies have been registered since its launch.
See more statistics here.
3. The e-Residency program is open to anyone in the world, regardless of their nationality, location, or business experience.
4. To become an Estonian e-resident, you need to apply online, pay a fee of €120, and provide some basic personal information.
5. Once you are approved as an e-resident, you will receive a digital ID card that enables you to sign documents, access online services as well as register EU company and conduct business in Estonia.
6. E-residents can establish a company in Estonia without the need to visit the country physically. All the registration and management processes can be done online. (We strongly recommend visiting anyway, Estonia is amazing!)
Contact us on the Nomad Business Solutions website here.
7. The Estonian e-Residency program is not a tax residency program, which means that e-residents are not automatically considered tax residents of Estonia. Since the circumstances are different for each and every e-resident, we strongly advise speaking to our partners in taxation.
Contact us on the Nomad Business Solutions website here.
8. Estonian companies registered by e-residents have access to the EU's single market and can conduct business across the EU.
9. The Estonian e-Residency program has been recognised as a model of digital innovation by the European Union. There are other countries that are now looking to replicate its success.
10. The Estonian e-Residency program has been praised for its contribution to global economic development. Moreover, it has been recognised by organisations such as the World Bank and the OECD for its innovative approach to digital governance.
11. The program has been successful in attracting tech startups, e-commerce businesses, and freelancers. Typically they want to access the EU market and take advantage of Estonia's favorable business environment. you can start your company in Europe with the help of Estonia's e-Residency program
12. E-residents can access a wide range of online services, including banking, accounting, and legal services, all from a single platform.
13. The e-Residency program has generated significant revenue for Estonia. E-Resident companies are paying over €150 million in taxes and state fees since its launch.
14. Estonia is a member of the European Union. This means that you can start your company in Europe with the help of Estonia's e-Residency program. Estonian companies registered by e-residents have access to the EU's free trade agreements and other benefits.
15. The Estonian government has made a commitment to creating a transparent and secure digital environment for e-residents with robust cybersecurity measures and data protection laws.
16. The Estonian e-Residency program has been praised for its transparency and accountability, with all company information available to the public on the Estonian Business Register website.
17. The e-Residency program has helped to create jobs and boost the economy in Estonia. E-Resident companies are employing over 3,000 people in the country. Bare in mind there’s only 1,2 million of us.
18. The program has also enabled Estonian companies to access a global talent pool. This is due to e-residents being able to work for Estonian companies from anywhere in the world.
19. E-residents can use their Estonian company to access funding from European investors. Furthermore, they can participate in EU grant programs and other funding opportunities.
20. The Estonian e-Residency program has been especially helpful for entrepreneurs and investors who face challenges in their home countries. For example, political instability or restrictive business regulations.
21. Estonia is constantly updating and improving the e-Residency program to ensure that it remains an attractive option for entrepreneurs and investors. For example, in 2020, the program introduced new services such as remote notarisation and digital authentication.
22. The Estonian e-Residency program has been particularly popular among freelancers and digital nomads. Most of all they appreciate the flexibility and ease of doing business online.
23. The program has also been successful in attracting entrepreneurs from emerging markets, who see Estonia as a gateway to the European market.
The Estonian e-Residency program has been a game-changer for entrepreneurs and investors around the world. It has created a digital platform for business that allows anyone to establish and manage a company in Estonia without the need for physical presence. The program has been successful in attracting entrepreneurs who see Estonia as an attractive destination for doing business, thanks to its simple tax system, access to the EU market, and favorable business environment. With constant updates and improvements to the program, Estonia is poised to continue leading the way in digital innovation, and the e-Residency program is likely to remain a key component of its success.
Do you need an EU company? Start your company in Europe with the help of Estonia's e-Residency program here.
