This is a short post to evaluate the Estonia e-residency program.
The cover picture is from wikipedia, credits here.
The e-residency program seems to be target especially to app developers and cloud providers.
e-residency is not related to citizenship and does not give the right to physically enter or reside in Estonia.
- e-residents can benefit digital inclusion by using their cards to login into Estonian state services and into private services like Banks and Insurances.
- e-residents can setup and manage a company online.
- e-residency is NOT a proposal to avoid taxes, so it is legal in your home country.
- there are treaties for the avoidance of double taxation between Estonia and many countries, so e-resident companies should pay taxes only in one country, either Estonia or they home country.
- e-residents companies can sign contracts and make business under the same Estonian law system.
- e-residents can open a bank account and operate un €.
- low bureacracy cost: bank account + business address + accounting cost around € 100 / month.
- the Estonian state certifies the identity of all e-residents by collecting their fingerprints.
- e-residency grants access to the eIDAS program.
- authentication APIs can be used by service providers.
- e-residents still have to deal with their own country tax bureaucracy.
- to deal with tax offices from two different countries results in an increase of bureaucracy, even if a company avoids double taxation.
- starting 29.09.2018 Estonia has to accept Italian digital identity and eIDAS compliant digital identities as electronic identification. So for european citizens who alreaady have an eIDAS compliant indentity, the e-resident card will be become unnecessary in 2018.
Here is the link to the e-residency AMA on Reddit.