Estonia is creating a borderless digital society and is the first country to offer e-Residency.
E-Residency is a transnational digital identity that anyone can apply for to obtain access to a platform built on inclusion, legitimacy, and transparency. E-Residents can establish a company online in one day and the company can be managed remotely. They can also apply for a business bank account and conduct secure e-banking with unrestricted access to international payment service providers (Paypal, Braintree,). All of this can be done in a cost-efficient and hassle-free way.
The primary reason e-Residents are joining this community is to run a trusted location-independent EU business with all the tools needed to conduct business globally.
Some of the benefits of e-Residency:
. It enables the creation of a European company registered in Estonia and its management fully online, all of this without coming to Estonia
· It provides full access to European business environment, market, and finance
· It gives access to Estonian e-services, to a community of digitally-empowered global citizens and to all the tools needed to grow your business and succeed
Speaking to ‘SupportBiz’, Salma Moosa, Founder, Startups Club, says, “Startups have started looking at global markets in the past years and it has become the need of the moment for businesses to have their presence across continents. Even a Startup sitting out of Tier 2 or 3 cities in India can access 742 Million people in EU through a simple digitally designed process of e-Residency. This initiative is a huge step towards giving Startups / Businesses an opportunity to tap into markets that much easier for their growth. E-Residency has enabled more International Investors to look at Indian businesses as possible opportunities as well”.
Arnaud Castaignet, Head of Public Relations, e-Residency, Republic of Estonia, Talking about their activities in India, said, “More than 1,200 Indian citizens have already chosen to become e-residents because many entrepreneurs are looking for fast company creation, access to EU capital, clients and funds and envision our programme as a gateway to Europe. Indeed, an EU company established through e-Residency doesn’t only make it easier to conduct operations in Europe, it also benefits from the EU’s legal frameworks and higher levels of trust when conducting business globally. India doesn’t lack innovative ideas and we are convinced e-Residency can help unleash the country’s huge entrepreneurial potential.”