Estonia and e-Residency
November 21, 2022
I have been to Estonia a couple of time. Once I visited in the summer. Another time I visited in February. Here’s a tip: “Leaves of Grass” weather is preferable in my opinion.
I mention Estonia because I noted a link to the Estonian government’s e-Residency information. You can find the basics at “Become and E-Resident.”
The main idea is that one can join Estonia’s digital nation. E-Residency is open to people from other countries. The idea is that the business would be “location independent” and the company would be an EU outfit.
The benefits include:
- Grow your business remotely
- Minimized bureaucracy (keep in mind that this is an EU company within a Baltic state with a Russian border)
- Joining an international community.
There are nominal fees, probably less than US$200, and a background checking process.
The idea is an interesting one. However, the e-Residency does not appear to include one of those “golden passports” available from some countries.
Are there downsides? A few, for example:
- Explaining to a US tax authority what’s going on
- Anticipating how the program will evolve; for example, laws passed in Estonia going forward
- Dealing with litigation in the US, EU, and elsewhere
- Resolving issues arising from payment to vendors and collecting money from customers.
If this approach to business appears attractive, check out the Estonia government’s Web site.
Stephen E Arnold, November 21, 2022
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