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29 June 2018

Payoneer Believes in E-Residency — Now is Partnering With Estonia’s Government

The European country is creating its own digital nation with plenty of benefits for international investors, the numbers keep growing.

In a world where cryptocurrency, blockchain and hyperconnectivity are taking new grounds, entrepreneurship is being rewarded in so many ways that is reshaping the landscape of the workspace all over the planet. One of these new solutions came to fruition in Estonia on December 2014, a new concept called “e-residency”, challenging the traditional rules of business location.

Now, the prepaid card service Payoneer and the government of Estonia are joining in one single effort to provide an “e-residency package” to more people, so the citizens can enjoy the benefits of both options.

According to an official press release: “E-Residency is a government-issued digital identity that gives you the freedom to run a global EU company entirely online”. But the real question lies in: Who can take a real advantage of this legal tool? We have the answers.

  • People that offer services online.
  • Freelancers, contractors, investors or entrepreneurs.
  • Individuals that don’t have access to financial services.
  • People that want to operate across borders.
  • Entrepreneurs that want to increase their trust online by operating inside the European Union legal framework.
  • Individuals without a fixed location.
  • Investors that want funding within the European Union environment.
  • People that want to trade in Euros (€).
  • So much more.

Seems important to clarify that the e-residency process does not grant you the opportunity to avoid paying taxes and to trespass international rules, nor seeking citizenship to reside in Estonia. To this day, more than 25,000 individuals have applied, establishing around 2,500 companies.

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