Just imagine that you could register your EU business from any corner of the world even if you live in Papua New Guinea no matter who you are and where you come from.
Having a digital identity will give you access to the EU business environment, in other words to services such as company formation, online banking, taxation, document signing, and even medical prescription fulfillment.
Estonia is the first country in the world that launched an e-Residency program allowing any citizen of the globe to open a legal EU company by issuing an ID card that is used for access to all e-services.
Once my friend who lives in India asked me how difficult it is to register a business in Europe and particularly in Estonia. My friend is a web-developer and has lots of clients from Europe, so for him, it would be very convenient to have a registered business entity in Europe rather than India.
At that moment I wasn't aware of the Estonian e-Residency program and promised him to get the information on what he has to do. Imagine my friend`s delight after I discovered the e-Residency and informed him about it. Now he is both a happy Indian resident and Estonian e-resident owning a legal EU company working 100% online. E-Residency made his life much easier and turned out to be the secret sauce that helped him earn his clients' trust.
Here is what Kaspar Korjus, the former e-Residency Program Director says:
"What we aim to do is to create a worldwide virtual business environment, where people from both the developed and developing countries can easily become entrepreneurs and start doing business anywhere in the world. Physical national borders and restrictions will no longer present an obstacle. You can start a business, open bank accounts, make transactions, sign contracts, and even declare taxes, all on your computer."
Let me note that this is the best quote ever precisely describing what e-Residency is.
If this is the first time you are hearing about it, you most likely have tons of questions.....You can get answers to all of them on the official e-Residency website
They also have monthly webinars and other events to help future e-residents better understand how it works. Find more info here
I also recommend reading this interesting article
about online entrepreneur Clement from Beirut telling about his experience as an e-resident.
Natalia and moduulo team.