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e-Residency 2.0

On the 6th of December, 2018 the Estonian goverment approved the new course of action for the e-Residency program. More and more focus is being shifted towards entrepreneurship, the development of the e-residency community and the introduction of Estonian culture to e-residents.

The Minister of Entrepreneurship and Information Technology Rene Tammist said that the e-Residency program has proven itself by helping grow the Estonian economy. The minister commented: ’’Estonia has over 50 000 e-residents who as of today have established over 6000 companies in our business environment. The tax revenue from the program has earned back the initial investment made by the state and even more than that.’’

Tammiste, naming the new focus points of the e-Residency program, added: ’’The e-Residency program has from the beginning mostly been of interest to entrepreneurs. It is time to select, which sectors’ and partner countries’ businesses we wish to bring to Estonia and actively offer them e-Residency and it’s benefits. It is also important to improve the communication inside the e-Residency community so that entrepreneurs can cooperate together and provide each other with valuable products and services.’’

’’The foreign entrepreneur community that e-residents make up is a good target group to whom we can introduce Estonian culture and heritage. These are all people from a wide range of different nationalities and by introducing them to our national culture, we spread the word about Estonia all over the world’’ Tammist said.

The e-Residency status is issued by the Estonian Police and Border Guard Board and makes it possible for foreign entrepreneurs to establish a company in Estonia or to invest in our companies. E-residency is not a travel document nor a citizenship. ’’The current background check procedure is being made even more effective by a risk-oriented approach, exchanging information between countries and collaboration between national authorities and institutions’’ Tammist added.

E-residents can use numerous Estonian e-services. ’’Foreign entrepreneurs are interested in e-Residency because they appreciate our transparent tax system and e-services which are targeted towards entrepreneurs, making it a good alternative to their home countries’ paper based systems.’’

The e-Residency 2.0 white paper was  introduced on the 18th of December 2018 and contains 49 recommendations for how e-Residency can become even more beneficial for everyone in our digital nation — including our citizens in Estonia and around the world, all residents of Estonia and, of course, the e-residents themselves. Prime Minister Jüri Ratas has also had a key role in driving this process forward and his Cabinet of Ministers has accepted all 49 recommendations.

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By Richard J. Witismann on 20 December, 2018