Estonia is the first country that issues e-residency cards to people anywhere in the world under very simple conditions. This country with a population of 1.4 million people separated from the Soviet Union in the last decade of the 20th century. Estonia focused on the development of digital businesses for economic growth, and today it is considered one of the most advanced e-communities in the world. This country has provided the necessary conditions for an electronic society and has facilities such as electronic police, electronic school, and electronic government.
Since 2014, the Estonian government has provided the necessary platform for electronic residence for citizens of other countries. In this way, e-residency ID-card holders can register their businesses, or make changes to their articles of association with only a few clicks, they can even apply for investment, or obtain a residence permit in Estonia.
When an individual’s Estonian e-residency application is approved, he/she will be granted a digital identity card for a payment of 100-120 Euros. This card contains an Estonian personal code for its holder. After receiving this ID card, the holder is practically a virtual resident of Estonia. If you want to know how to get this card and its benefits, stay with us.
What is electronic residency?
E-Residency is a Program that was first implemented by Estonia in 2014. In this program, people who are not residents of Estonia are allowed to use the country’s services such as opening a bank account, establishing a company, Payment process, and even tax systems after receiving a digital identity card. Based on this program, applicants will be given a smart card and they can send their documents using this card.
The main purpose of running this program is to encourage independent entrepreneurs such as programmers, freelancers, content writers, graphic artists, etc. Estonia is one of the countries in the European Union and establishing or registering a company there is attractive for many start-ups and online businesses. But don’t forget that an Estonian residency does not mean a residence permit in this country or other European countries. Most importantly, you should know that an e-residency is not a citizenship document.
How to apply for Estonian e-residency
The application process for Estonian e-residency is completely online. You must enter the official website and fill in the necessary forms. Scanning a passport and a personal photo is one of the important stages of electronic residence application registration. You must provide an acceptable reason for your request. One of the main criteria for accepting your application is not having a bad financial history and committing acts such as money laundering.
After reviewing the documents and confirming them, in about two-three months the applicants are invited to the Estonian Embassy to provide biometrics and signatures and of course to pick up the issued Digital ID cards. The validity of these documents is 5 years. After completing this course, if the person wants to use e-residency again, he must resubmit the necessary documents. The process of renewing the electronic residence card is completely similar to the process of receiving the card. You should know that people are required to pay a fee to the Estonian government for obtaining or renewing an electronic residence card.
Benefits of Estonian e-residency
All financial activities of people who have received an Estonian e-residency are monitored digitally and completely transparent. You should know that using the e-residency card does not create any tax liability or exemption from it. E-residency allows people to do things electronically without the need to visit in person for things like company registration, signing commercial documents, exchanging documents in encrypted form, submitting tax returns, receiving medical prescriptions, online banking, and similar things, there are many service providers listed on e-residency marketplace.
The expansion of this plan provides access to more services for applicants. To access the above services, one is required to use a fully smart digital ID card issued by the Estonian police, customs, or embassy. Experts believe that using Estonian e-residency services is very useful and profitable for online businesses, especially those who do not have access to the EU market.
The lack of access of startups in some countries to the World Bank network
Startups active in countries such as Iran, Ukraine, and Belarus do not have access to the World Bank network for political reasons. using e-residency can be useful in solving the problems of these startups. Don’t forget that E-residency in Estonia does not provide permission to enter the country. but if you are interested in staying in this country, you can use this method to register the company and prove its profitability.
The e-residency method reduces the cost of exporting to other countries. If you want to start a startup in the field of exporting products to European countries, an Estonian residency is very cheap and efficient. Using this residence card, you can register your company in the European Union. Holders of this card will also benefit from a bank account related to the European Union. By obtaining electronic residence, you can expand your services and products in Europe.
In summary, the advantages of Estonian residency can be stated as follows:
- The applicant’s residence in the European Union has been confirmed and you can apply for a legal residence permit in this country.
- If the applicant submits a request for a work or tourist visa to the embassy in the future, the process of receiving the visa will be done in a shorter period.
- This stay is completely done online; therefore, you do not need a local partner to register the company.
- You can manage your online business in Estonia anywhere in the world.
- The process of running the company is done without paperwork and any border restrictions and is completely integrated.
- It is possible to communicate with other big companies in a completely secure environment.
What kind of people is Estonian e-residency suitable for?
- People who live outside of Estonia or non-EU residents who want to access the European market.
- People who have customers in this country or want to find a suitable market for their products in Estonia or in Europe.
- Using E-Residency Estonia for people who need a European or multi-currency bank account.
- People who want to access the European market.
- People who are interested in spreading their assets in different countries follow an internationalization strategy.
If you like to invest your property in a country whose government does not constantly follow the policy of reducing the budget Using the Estonian electronic residence card will be useful for you.
Documents required for e-residency in Estonia
- The person applying for electronic residence must be over 18 years of age.
- Do not have any type of criminal or financial record.
- All people who meet these two conditions can apply for an Estonian residency. As we said, this process is done completely online.
The most important documents you need to register your application are:
- Name and identity information
- Passport scan
- Scanning of all identification documents and their confirmation in valid offices
- Provide at least one paragraph about the reason and motivation for applying for e-residence
- Payment of the Estonian e-residence fee (about 120 Euros)
Estonia is a very small country in the European Union. Estonia has all the benefits of other EU member states. Companies and start-ups who intend to develop their business activities in Europe can use Estonian e-residency services. Applicants will be able to receive a digital ID card after confirming their eligibility.
During the article, we mentioned that receiving an electronic residence does not mean a residence permit in Estonia. But, you should know that one of the important conditions for staying in EU countries is proof of financial ability or company registration in Europe. E-residence has provided safe conditions for starting a business in Estonia. If your business is successful, you can submit the necessary documents to the Estonian government and apply for permanent residence. All people over 18 years of age, freelancers, investors, and company owners can have a legal personality in this country and the European Union through e-Residency Estonia.