“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.“
The Republic of Estonia is the first country in the world to offer e-Residency – a transnational digital identity available to anyone in the world interested in administering a location-independent business online.
The Estonian government launched e-Residency to make Estonia bigger: to grow the country’s digital economy and market with new customers, thereby sparking innovation and attracting new investments. In addition, e-Residency makes life and business easier and more efficient for everybody who already have a business or other relation to Estonia.
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 digital ID 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.
According to Ronald Kleverlaan, co-founder of the European Crowdfunding Network and founder of the CrowdfundingHub the Estonian government issued digital identity card can solve a number of problems for Crowdfunding and Alternative Finance platforms, such as KYC-regulations, cross-border investments and e-voting for shareholders in Equity crowdfunding projects. Statistics about e-Residency: https://goo.gl/O5cQwI
The e-Residency card is not a physical ID-card or a travel document as it has no photo. Also, e-Residency does not entail citizenship, tax residency, residence permit or rights of entry to Estonia or the EU.
All of this can be done in a cost-efficient and hassle-free way, without the need to hire any local director or representative (unless you want to, of course).
The next big step for e-Residency programme is to add new services for e-residents.
Identit – a program to accelerate innovation around e-Residency, Blockchain, and e-identity, and to build the ecosystem of people and organisations interested in exploring the potential and opportunity created by this new innovation in civic tech.
Fundwise – the equity crowdfunding platform in Estonia and the Baltic states which aims to be also the first business crowdfunding platform with secure authentication and digital signing.
Funderbeam – crowdfunding is raised through syndicates. This way, investors can pool their resources and multiply their investment power. Headed by the lead investor or startup founders, each syndicate is represented by a separate special-purpose vehicle (SPV). This is a private limited company that invests the syndicate’s funds and will hold the startup equity it receives.
eResNetwork – the world’s safest business networking platform where every user is a real governmentally-verified person with a legitimate name and legal identity.