Advices
e-Residency
Estonia

Having an electronic residency is becoming more and more relevant every day, especially for business owners who want to relocate it to a more favorable environment. Today we suggest you think about e-Residency in Estonia.

Estonia is a technological wonder in terms of doing business, especially in IT. It has earned this title by developing the IT sector over the years. So, already in 2014, the country announced its decision to launch e-Residency services. If you do not have the opportunity to open a “physical” company in Estonia, but want to conduct your business within the EU, then this is one of the few options available to you. This option is especially relevant for people from Asia, South America, and the Middle East. So, let’s look more closely at what e-Residency in Estonia is.

Some facts about e-Residency in Estonia

• As of November 2023, there are 107 609 e-Residents in Estonia
• 28326 companies opened in Estonia by e-residents
• 7608 of them are in the IT sector
• 1086 people applied for Estonian e-residency in October 2023

Below you can see the list of countries whose nationals actively participate in Estonia’s e-Residency program.

From the official page https://www.e-resident.gov.ee/dashboard

Advantages of Estonian e-Residency for non-residents: 

• Possibility to register a company in Estonia online.
• European registration for your business with all the tax benefits as for Estonian residents.
• No share capital payment is necessary.
• Remote online access to state institutions so you can make payments and submit all documents online, as well as obtain licenses.
• Possibility to do all bookkeeping online.
• Obtaining an electronic signature.

Who can get e-Residency in Estonia?

Any citizen of another country who is at least 18 years old and can pay for the service (100-120 euros). Almost the whole procedure is done online — you still have to visit the Estonian embassy in your country to submit your biometric data. Otherwise, there are no restrictions for you.

What the program does not provide 

Of course, e-Residency in Estonia has many advantages. But it is also important to understand what it does not provide:

• Citizenship;
• Residence permit (e-Residency is not an automatic residence permit in Estonia or the EU);
• Tax residency (you cannot avoid paying taxes in your country through it);
• ID card;
• Advantage in opening accounts in Estonian banks.

The process of applying for e-Residency 

To obtain e-Resident status, you must: 

• Prepare all necessary documents for the application, namely:

1. A copy of your ID card;
2. A digital photo;
3. Letter of motivation;
4. Visa or Mastercard details.

• Apply online through the official website of e-Residency Estonia.
• Pay the state application fee of 100-120 euros (depending on where you receive it).
• Within 1-1.5 weeks, expect a response to your application at the indicated postal address
• After receiving the confirmation, you can collect your e-Residency kit at the previously stated place.

You got e-Residency status. What’s next? 

Once you have obtained Estonian e-Residency status, you can start registering your company. For that, you have to provide a contact person and a virtual office.

Both are obligatory when registering a company in Estonia with e-Residency!

How Finevolution can help

We can help you correctly complete your e-Residency application. The application is processed within 1-1,5 weeks.

Important: You have to pay the state fee of EUR 120 for your application. Once you receive a positive answer, you will receive an e-Residency card at the Estonian consulate in your country of residence.

• We cooperate with partners working in Estonia for years, and we will help you find a contact person.
• Our company also helps with the registration of the virtual office in Estonia.
• We are ready to take care of the tax structuring of the company and comprehensive support of all accounting.
• We provide assistance in opening a bank account or account in the payment system.

About Finevolution

Our company has been providing financial and legal support to IT companies in Ukraine and abroad for more than 5 years. Our portfolio includes more than 1000 clients all over the world. We cooperate with 50 organizations worldwide — banks, programs, payment systems.

For consultations regarding e-Residency in Estonia, please leave a request through the form below Viber, Telegram, WhatsApp.