5. Estonia’s business advantages
Trusted — access the tools needed to grow, such as payment providers (PayPal, etc)
Minimal bureacracy — Everything is online. Paperwork is eliminated.
Membership of the EU — Easier to conduct business globally.
Low cost of business services – accounting, virtual office, etc.
Remote management — Digital signatures, easy for multiple founders operating across
borders.
Business-friendly regulations — No local director required.
Simple taxation.
6.
7.
8. 1. Become an e-resident
1. Submit online application and pay state fee — https://apply.gov.ee
2. Application validation by PPA
3. Collect ID card from embassy in Kiev or in Estonia (ID, biometrics)
4. Install ID card software and start using services — http://id.ee
Application steps. Cost 100€ (state fee)
9. 2. Start a company
1. Choose and check your business entity name
2. Contact Virtual Office provider for physical address
3. Register a company online
4. Open bank account (choose bank) – Estonian, Holvi or
foreign bank
Company registration online.
10. 3. Run remotely, administer online
Taxation
Admin
Board resolutions
Dividends
etc.
Who has been to Estonia? Who has heard of e-Residency? Any e-residents in the room?
In the early days of independence, we had few resources and poor infrastructure. Fortunately, the internet was coming online at the same time. We decided to build a digital nation instead. We provided all citizens with a unique digital identity and put almost all government services online to minimise bureaucracy. [Take out your own ID card to discuss how it works] We now use this for 2,500 digital services - everything from voting in elections to collecting prescriptions. Almost all government interaction takes place using this card. That makes it much easier to run a business.
Among our 2,500 digital services there are just three things that our digital society doesn’t provide: getting married, getting a divorce and performing real estate transactions. Not yet anyway.
Our digital society makes it easier to start and run a business. As a result, we have more successful start-ups per capita than any other country in Europe. First world changer was Skype, now TransferWise, GrabCAD, Fortumo, Pipedrive, Starship Technologies, and more
We decided to spread those benefits globally by launching e-Residency. It can provide anyone in the world with access to our digital infrastructure so they can also start an EU company and run it entirely online. Launched in beta mode – we know not everything is perfect, but we are always working to improve it.