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Benefits and limitations of e-residency
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E-residents will have their financial footprint monitored digitally, in a manner stated to be transparent; the reaction to the widespread financial misbehaviour at high level revealed by the Panama Papers leak was suggested to be a factor helping the more transparent Estonian initiative according to Korjus. E-residency itself does not have an effect on income taxation — neither does it establish an income tax liability in Estonia nor does it relieve from income taxation in the resident's home country.[5]
E-residency allows company registration, document signing, encrypted-document exchange, online banking, tax declaration, and fulfilment of medical prescriptions. Other services become available as the scheme is expanded.[6] A digital ID smart card issued by the Estonian Police and Border Guard Board in Estonia or at an embassy is used for access to services.[7]
Korjus said that registering an Estonian business was "useful for internet entrepreneurs in emerging markets who don’t have access to an online payment provider", and for startups from countries such as Ukraine or Belarus which suffer financial limitations from their governments.[5]
E-residency is not related to citizenship and does not give the right to physically enter or reside in Estonia.[7]
Benefits and limitations of e-residency
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E-residents will have their financial footprint monitored digitally, in a manner stated to be transparent; the reaction to the widespread financial misbehaviour at high level revealed by the Panama Papers leak was suggested to be a factor helping the more transparent Estonian initiative according to Korjus. E-residency itself does not have an effect on income taxation — neither does it establish an income tax liability in Estonia nor does it relieve from income taxation in the resident's home country.[5]
E-residency allows company registration, document signing, encrypted-document exchange, online banking, tax declaration, and fulfilment of medical prescriptions. Other services become available as the scheme is expanded.[6] A digital ID smart card issued by the Estonian Police and Border Guard Board in Estonia or at an embassy is used for access to services.[7]
Korjus said that registering an Estonian business was "useful for internet entrepreneurs in emerging markets who don’t have access to an online payment provider", and for startups from countries such as Ukraine or Belarus which suffer financial limitations from their governments.[5]
E-residency is not related to citizenship and does not give the right to physically enter or reside in Estonia.[7]
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