Why should I join Estonia’s e-Residency programme?
Established almost ten years ago, Estonia’s e-Residency programme has revolutionised the way digital businesses can be established within a global market. For the first time ever, businesses physically located outside of the country could operate benefitting from the same services as companies located inside the country, and for very little cost.
Here are Silva Hunt’s top 5 reasons why your business will benefit from joining Estonia’s e-Residency programme:
1: Set up and Manage your business digitally with e-Residency
Whatever industry your business is in, establishing a digital presence these days is a must. Operating a business digitally, even if it is only part of it, has many benefits. What do we mean by digital? Well, it’s as simple as having a website and social media for the company. If you utilise LinkedIn, you’re operating digitally. If you utilise e-commerce tools, you’re operating digitally. If you rely on Google for traffic to your business then you are operating digitally. You may not be a digital business in nature, but you will rely on digital platforms.
Through e-Residency, you will be establishing your business in one of the most advanced digital societies in the world. Let’s not forget that in recent years, many founders and start-ups who would previously have been located in Silicon Valley have instead chosen to operate out of Estonia, but physically relocating here isn’t possible for everyone which is where e-Residency fills the gap.
2: Work anywhere in the world
Even before Covid, being able to operate internationally was important to businesses, but since 2021, it’s never been more beneficial to do so. Where previously freelancers and small start-ups would have to operate locally, times have now changed and anybody can work with clients located in a different country with considerable ease as a result of the e-Residency programme.
The programme is revolutionary because no matter where you are physically located, you can operate as if you are based within Estonia – the place where digital businesses thrive.
3: Easy financials
As an e-Resident, you can benefit from digital business banking and online payment services. It means you can administrate financial services, such as managing invoices and payments, easily. Without access to these services, financials can be complex, time-consuming and even costly to manage, so access to Estonian financial platforms and banks takes away all the hassle.
Furthermore, with e-Residency card you can use all Estonian e-services. By using Estonian e-services for tax declarations also grants you access to a range of benefits. For instance, you can quickly obtain your tax residency certificate, which is a vital document for avoiding double taxation. Additionally, by leveraging Estonia’s highly efficient tax system, you can reduce the overall amount of time and money you spend on tax-related matters. In short, e-Residency can help you streamline your business operations, boost your bottom line, and simplify your overall tax management process.
4: Access the European single market
A major plus to e-Residency is the ability to operate within and access the European single market; Something the United Kingdom left in 2021. The European single market was created to enable the free movement of services and goods all across the European Union. That’s 27 countries, plus special additions Norway, Iceland and Liechtenstein – so quite a lucrative market to be in.
Being able to operate within the EU is a huge bonus for any organisation located outside of it. In the digital world and thanks to e-Residency, borders are no longer an issue!
5: Be a member of the e-Residency Marketplace
Businesses that are part of the e-Residency programme can apply to be part of the e-Residency Marketplace. Think of this as an official community of trusted companies, which receives endorsement and free promotion! Businesses that are members of the Marketplace are allocated a dedicated page on the official e-Residency website, together with a function which allows positive reviews from your customers. Think of the many cross-referrals you could receive as a result of being part of this! Take a look at https://marketplace.e-resident.gov.ee/ and it will be clear why being listed here could really give your business a boost.
In some ways, it is difficult to explain exactly why e-Residency is so beneficial. You almost need to try starting a digital business somewhere else in the world before you could fully appreciate just how easy the e-Residency programme makes it! That is why around 100,000 people have already signed up!
Think about being able to easily manage all of your finances, taxes and administration, having none of the bureaucracy of trying to trade outside of the European Union and having full, remote access to one of the most advanced start-up ecosystems in the world…without any huge costs or inconvenience to you!
Estonia is a Powerhouse for Digital Business! Estonia has established itself as a leader in digital innovation and a hub for eCommerce and technology companies. With its modern and progressive laws, the country offers a favorable business environment that provides a competitive edge for companies looking to establish their presence in 2023. The digital infrastructure and technology-focused culture of Estonia offer companies a cutting-edge environment that allows for easy and efficient company formation and the ability to operate globally.
Advantages of Estonian Jurisdiction: By choosing Estonia as a jurisdiction, companies can take advantage of numerous benefits that will put them ahead of their competition. These benefits include a low tax rate, a streamlined process for company formation, access to a highly skilled and educated workforce, and a pro-business government that is committed to supporting the growth of the technology and eCommerce industries. In addition, Estonia’s location at the crossroads of Europe and its commitment to the digital economy make it an ideal hub for businesses looking to expand into new markets and grow their reach.