Estonia, a small country in Northern Europe, is known for its digital innovation. One of these innovations is E-residency, a program that allows foreign citizens to obtain a digital identity card and open a business in Estonia without leaving their country. This is very beneficial for both the businessmen themselves and the country’s economy. In this article, we will look at what E-residency is, what rights and opportunities it provides, and also analyze in detail the process of obtaining it and the costs associated with it.
What is E-residency?
E-residency is a program launched by the Estonian Government in 2014. It allows citizens of other countries to obtain an electronic identification card, which gives them access to various Estonian public services online. This means that E-residents can manage their businesses, open bank accounts, file tax returns, and more without leaving their home country.
Advantages of E-residency
One of the main advantages of E-residency is the ability to open a company in Estonia without having a physical presence in the country. This makes Estonia an attractive destination for entrepreneurs who want to do business in the European Union. Please note: E-residency does not grant tax residency, entry permits to the European Union, or residence permits.
E-residents can use the following features::
- Opening a bank account. E-residents can open a bank account in Estonia, which allows them to conduct financial transactions, accept payments and manage their finances.
- Filing tax returns. E-residents can file their tax returns in Estonia online, which greatly simplifies the business process.
- Electronic signature. E-residents get the opportunity to use an electronic signature. It has the same legal force as a traditional signature on paper.
- Company management. E-residents can manage their company in Estonia remotely, without requiring a physical presence in the country. There will be no special restrictions.
- Access to public services. E-residents can access various Estonian government services, such as company registration, reporting, and others.
- Security and privacy. Estonia is known as one of the most secure and confidential countries in the world, which is why it is so attractive for doing business.
- Tax advantages. Estonia offers favorable tax conditions for doing business, including no tax on retained earnings.
- Access to the European market. By becoming an E-resident of Estonia, entrepreneurs are able to do business in the European Union, which opens up new opportunities for growth and development.
Since the launch of the E-residency program in 2014, its popularity has been steadily growing. According to the Estonian Government, there are currently more than 80,000 E-residents in the country from more than 170 countries around the world. This indicates that E-residency is becoming increasingly popular among entrepreneurs and freelancers from all over the world.
How do I apply for E-residency in Estonia?
During the registration process, you will need the following documents::
- copy of your passport (or European Union ID card);
- digital photo with a resolution of more than 1300×1600;
- link or file with a business project and resume.
To become an E-resident of Estonia, you need to follow a few simple steps::
- Submit an online application for e-residency. To do this, use the official website of the program, where the corresponding form is located. It is filled in in several stages. We recommend that you prepare your documents in advance.
- Pay the state fee. If you plan to pick up your digi ID at a service center, you will need to pay 100 euros. If the Estonian Embassy is chosen as the place of receipt, then you need to pay 120 euros. The location is selected at the first stage.
- Wait for all checks to be completed. After submitting your application, you must wait for the police and border guard service to check your data and decide whether or not to issue an E-residency card. The process takes up to 30 days, and you can track your progress on the same site.
After that, you will receive a notification and you will be able to pick up the resident’s ID card.
Summarizing
When you become an E-resident, you get a digital identity card, an electronic signature, the ability to open a bank account and register a company in Estonia without leaving your country. This allows you to manage your business remotely, enjoy government electronic services, tax benefits, and other benefits.
Q & A
Here you will find answers to the most frequently asked questions.
How long does the E-residency process take?
The process of obtaining an E-residency takes an average of 4 weeks + 2 weeks for delivery to any Estonian consulate around the world.
Can I get Estonian citizenship through E-residency?
No, E-residency does not qualify you for Estonian citizenship. If a person receives a residence permit, permanent residence, or Estonian citizenship, they are automatically deprived of their E-residency.
Can I travel in Europe with an e-residency?
No, E-residency does not give you the right to free movement in the EU. This requires a visa or residence permit.
Can I cancel my E-residency?
Yes, E-residency can be terminated at any time at the request of the resident.