500 Entrepreneurs Run Their Companies via Estonian e-Residency20-11-2015
e-Residency offers to every world citizen a government-issued digital identity and the opportunity to run a trusted company online, unleashing the world's entrepreneurial potential. It is especially useful for entrepreneurs and others who already have some relationship to Estonia, e.g., who do business, work, study, or visit the country.
Estonia is the first country in the world to offer e-Residency – a secure government-backed digital identity, available to anyone around the world wanting to enjoy a wide range of government and business services developed in Estonia since the 1990s. By providing e-Residency, Estonia is unleashing the world’s entrepreneurial potential.
As of today, we have received over 6,700 e-Residency applications from 120 countries, and there are more than 500 companies connected to e-residents. We have already exceeded our initial goal for 2015 by more than three-fold, and have received a vast amount of positive feedback, especially considering that we are still in the beta phase.
We are also happy to announce that in the last few months, we have had several well-known additions to the e-Residency community, such as the Prime Minister of Japan Shinzō Abe, former Apple evangelist Guy Kawasaki, and Swedbank President and CEO Michael Wolf.
-- digitally sign documents and contracts;
-- verify the authenticity of signed documents;
-- encrypt and transmit documents securely;
-- establish an Estonian company online within a day. At the moment a physical address in Estonia is required, which may be obtained using 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, and is 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. To learn about taxation and to avoid double taxation please consult a tax professional.
All of these and more efficient and easy-to-use services have been available to Estonians for over a decade. By offering e-Residents the same services, Estonia is proudly pioneering the idea of a country without borders.
e-Residents receive a smart ID card which provides:
-- digital identification and authentication to secure services;
-- digital signing of documents;
-- digital verification of document authenticity;
-- document encryption;
-- e-Resident id-card
Digital signatures and authentication are legally equivalent to handwritten signatures and face-to-face identification in Estonia and between partners upon agreement anywhere around the world. The e-Resident ID card and services are built on state-of-the-art technological solutions, including 2048-bit public key encryption. The smart ID card contains a microchip with two security certificates: one for authentication, called PIN1, and another for digital signing, called PIN2. PIN1 is a minimum 4-digit number for authorization, PIN2 is a minimum 5-digit number for digital signature.
e-Residency does not confer citizenship, tax residency, residence or right of entry to Estonia or to the European Union. The e-Resident smart ID card is not a physical identification or a travel document, and does not display a photo.
Should you have any questions about Estonian e-Residency or need help, do not hesitate to contact AU Accounting at http://auaccounting.eu/en/.
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