E-Residency gives foreigners the opportunity to apply for a digital residency permit in Estonia even if they don't live there.
When a person registers for the Estonian e-residency, that person is given a government-issued smart ID card that enables digital identification. A person can digitally sign important documents, access secure services and conduct secure transactions - even if a person does not live in Estonia.
E-Residency enables an Indian entrepreneur to set up an Estonian company from Singapore to serve clients based in Italy. With his digital signature, he could also sign EU-wide contracts. Everything would be done online remotely.
How does it work? E-residents receive an identity card containing a special chip. With this card, they can use Estonian public and private sector services, sign documents and encrypt files remotely.
The program has become a global success story. Once the program took off, media abounded, making it possible to let people know about the official launch. Within a few hours, people in different countries signed up for a notification. Then more than 6,000 people applied.
The list of Estonian e-residents includes some of the biggest names in the world, including Japanese Prime Minister Shinzō Abe, former Apple evangelist Guy Kawasaki and Timothy Draper of venture capital firm Draper Fisher Jurvetson.
E-residency is a new concept. The idea of a government-issued digital ID card does not exist. Estonians have been using these cards for a long time. With Estonia often referred to as e-Estonia due to technological advancements, it made sense to extend this ID service to the rest of the world. By extending all public and private sector transactions to people in other countries, Estonia has added long-term value to the idea of secure digital identities.
Why E-Residency? The main goal of the e-Residency is to make life and business easier for freelancers, digital nomads, business owners, international partners, and any other non-residents. If a person want to start a business, expand business, make investments or study in the EU - Estonian e-Residency makes it simple.
e-Resident is be able to:
Create and run a company online Conduct banking online Access international payment service providers Digitally sign documents Verify the authenticity of documents Encrypt documents securely Declare taxes online Benefits of E-Residency in Estonia A person will be able to digitally identify himself - a person can digitally sign documents, authenticate documents, and encrypt documents for three years. A person will be able to enjoy all of the convenience that Estonian residents have been taking advantage of.
A personal Estonian e-Residency card is not a physical ID card - it can't be used for travel. E-Residency will not grant a person citizenship, tax residency, residence permit or entry into Estonia or the rest of the European Union.
But why would a person want to run a personal business in Estonia?
Person will benefit greatly from switching a business to a country with minimal bureaucracy, fewer administrative hassles, and an infrastructure that is easy to use remotely.
Specifically, a person will get:
A presence in the EU market Access to international payments providers A trusted and transparent business entity Access to a simple and fair tax system Full remote control Paperless administration Digital signature and encryption
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Fri May 12, 2023 11:51 pm (Last edited: Fri May 12, 2023 11:52 pm)
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