Estonia is regarded as one of the world’s most advanced digital nation. Anybody who wishes to start a business in Estonia can become an eResident and get a so-called e-residency to access all electronic services offered by the government. E-residency provides the possibility to establish a company online, manage it remotely and achieve location independence. The E-Residency program saves time you would otherwise have spent on bureaucracy, tax authorities, and incorporation. Although there are obvious benefits to incorporating your cryptocurrency business in eEstonia, it is important to consider the legal and compliance obligations. Incorporating your business is a major decision which should be well planned and for which advice should be sought from professionals.
I became an eResident in Estonia to join the Baltic digital pioneers, and thousands of digital nomads from all around the world. Considering the eResident movement as a milestone in our journey to decentralized organizations, often considered as the superior organization model. The former Soviet republics Estonia, Latvia, and Lithuania have turned themselves into some of the most tech-savvy, digitally focused governments in Europe. They address the market opportunity of the European digital single market.
When there is more brain than budget – you may find yourself in the #baltics.
About – eEstonia and eResidents
The Republic of Estonia is the first country to offer e-Residency — a transnational digital identity available to anyone in the world interested in administering a location-independent business online. e-Residency additionally enables secure and convenient digital services that facilitate credibility and trust online.
- Digitally sign documents and contracts
- Verify the authenticity of signed documents
- Encrypt and transmit documents securely
- Establish an Estonian company online. A physical address in Estonia is required to establish an Estonian company but may be obtained via an external service provider.
- Administer the company from anywhere in the world.
- Conduct e-banking and remote money transfers. Establishing an Estonian bank account currently requires one in-person meeting at the bank. E-residents are not guaranteed bank accounts and may establish them at the sole discretion of our banking partners.
- Access online payment service providers
- Declare Estonian taxes online. e-Residency does not automatically establish tax residency.
As an eResident, I can start a location-independent EU company remotely, run it online from anywhere, as well as access all the tools needed to easily conduct business globally. Legal address for your Estonian company and accounting services.
Virtual office services, Legal address in Estonia, Virtual secretary and call answering, Bookkeeping, Mail receiving, and forwarding, Assistance package, e-Residency in Estonia, Market analysis, Market development. Partner search, Research
The future – a potential initial coin offering from Estonia
In a blog post published on December 18, Estonia’s e-Residency program managing director Kaspar Korjus outlined three use cases for its proposed national cryptocurrency “estcoin”
- The first use case for the estcoin would be a “community” token. “The community estcoin would be structured to support the objective of growing our new digital nation by incentivizing more people around the world to apply for and make greater use of eResidency,” wrote Korjus. “This includes encouraging investors and entrepreneurs to use e-Residency as their platform for trusted ICO activity.”
- The second use case would be an “identity estcoin.” In this case, the cryptocurrency would allow members of the e-Residency society to do such things as digitally sign documents or log into services safely and securely. These tokens could not be sold or traded — they would be inextricably linked to their owners.
- The third use case is the most controversial. The “euro estcoin” would have a value linked to that of the euro, the fiat currency used in Estonia. Korjus claims this estcoin wouldn’t be an alternative to the euro, the creation of which is currently prohibited for any nation within the eurozone, but would instead be a token that combines cryptocurrency’s advantages with the stability of fiat currency.
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