Have you heard about E-Residency?
When you are location independent, working from whenever your heart desires has huge advantages. It also comes with some difficulties, especially when it comes to legalities of running your own business and paying the right taxes.
This is where E-Residency comes in. It enables digital entrepreneurs to start and manage an EU-based company online.
Estonia is the first country to offer E-Residency.
Estonia is the first country to offer e-residency. Essentially it is a digital identity that gives you access to Estonia’s transparent digital business environment.
As Estonia is a small country, it transitioned quite easily and quickly into the new digital culture and formed a real digital society. Almost all of the common day to day transactions like paying your bills, doing your banking and even voting is done online in Estonia. Not to mention that Skype was also invented in Estonia. You can probably see that I am slightly bias, as this is a country I grew up in and it will always have a special place in my heart.
Benefits of the E-Residency
E-Residency allows digital entrepreneurs to manage business from anywhere, entirely online.
It allows you to be location independent. You can start a company 100% online from anywhere in the world. It allows you to travel and operate your business remotely. If you live in one country and decide to move abroad, e-residency will save you the hassle and the need to re-establish your company.
Having e-residency will allow you to start an EU based company, accept online payments through providers like PayPal and others. You will also own your company without the need to appoint a local director.
You will be able to manage all the operational processes remotely, like issue and sign contracts. This also includes any other paperwork, for example declaring your taxes online. There will also be access to EU Single Market and cross-border capital.
Also, Estonia has an agreement with more than 56 countries to help you and your business avoid double taxation.
Whether you are running your own business and don’t want to deal with the bureaucracy in your own country or are location independent and need a base for your company, I think you should definitely take a look at this option.
To understand more about benefits of E-Residency and if it is for you, head over to this website. The application process is quite easy and is clearly explained step by step.