bw lecture: what is estonian e-residency and how it can be useful to you?
TRANSCRIPT
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e-Residency21.02.2017
Kaspar Korjus
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digital name infrastructure+
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apply.gov.ee100€
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1. Incorporation and administration2. Bank account and credit card3. Online payment provider4. Automated accounting and taxes5. Legal and business guidance
LOCATION INDEPENDENT EU BUSINESS ENVIRONMENT
for Internet Entrepreneurs
Set up at home, work from anywhere
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STARTUP ENTREPRENEUR
#Peace of mind while travelling
FREELANCER FROM AN EMERGING MARKET
#Accepting online credit
card payments
BUSINESSMAN OUTSIDE THE EU
#Export to the EU market
BUSINESSMAN IN THE EU
#Low admin with multipleEU members
#Access to cross-border
capital
DIGITAL NOMAD
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17,000 e-residents
1,200 new companiesfrom 135 countries
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Country all applicants(17356) %
# of e-residents created new companies
(1418)1418 conversion
rate
1Finland 2760 15,9% 206 14,5% 7%2Ukraine 929 5,4% 149 10,5% 16%3Russia 1335 7,7% 128 9,0% 10%4Germany 840 4,8% 81 5,7% 10%5Italy 776 4,5% 71 5,0% 9%6UK 923 5,3% 55 3,9% 6%7Latvia 567 3,3% 53 3,7% 9%8France 536 3,1% 51 3,6% 10%9USA 1033 6,0% 45 3,2% 4%10Turkey 332 1,9% 44 3,1% 13%11Belarus 246 1,4% 33 2,3% 13%
12India 548 3,2% 32 2,3% 6%
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Income to Estonia?
=362€/month
x1000 companiesx10,000 companies
X100,000 companiesX100m companies
= 4,3m€ / year= 43m€ / year
= 430m€ / year= 430b€ / year
Taxes; 165 €
Services; 85 €
Investments; 83 €
Business trips; 29 €
Monthly income per company
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Business opportunities for international and Estonian companies: 1. Supporting e-residency companies (virtual office services, accounting, and legal/tax advice).2. Putting together a business package (Stripe Atlas, LeapIN, etc.).3. Selling your own services or products to e-residents (e-Residency Hotel).4. Building new services (e-voting platform, e-residency community, etc.).5. FinTech services can make use of strong AML/KYC (Know Your Customer) and access e-res
data. 6. Blockchain services can become more legitimate through strong identities (e-notaries).7. Instead of hiring staff for short term projects, they can sell their services via an e-res
company8. Turn shareholders and investors into e-residents for easier cross-border administration 9. Send encrypted data between entities with a high level of privacy (e.g. health test results)10. Estonian companies can use e-Residency brand in their export activities even if there is no
direct relation to it
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e-Residency: a digital nation for global citizens powered by the Republic of Estonia
INCLUSIVE LEGITIMATE TRANSPARENT EMPOWERING
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Incorporation
Bank account
Credit card
Payment provider
Lending market
Crowdfunding
Funding
Climate
Engineers
Family
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Incorporation
Bank account
Credit card
Payment provider
Lending market
Crowdfunding
1. Location independence2. Financial inclusion3. Empowered people
Funding
Climate
Engineers
Family
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Country as a ServiceAPIs:
Incorporation Bank account Credit card Payment
provider Lending market Crowdfunding
Authentication Digital Signing Tax returns
Incorporation Company profile Personal profile
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e-Residency: the country of everybody
@kasparkorjusapply.gov.ee