'This is so freaking huge man, it's insane': The plan to let anyone become European – digitally

Summary: Estonia's government has launched a plan to bring e-resident ID cards to the country — meaning anyone can apply to be an Estonian citizen, whether they've set foot in the country or not.

In the near future, those from outside the country will have an opportunity to apply for an Estonian e-resident ID card — which means that they can use Estonian online services, open bank accounts, and start companies without ever having to physically visit Estonia.

That is, if they pass a background check similar to the visa application process and sign up to identify themselves with biometrics such as their fingerprints or iris scans.

Under a plan presented by the deputy secretary general for communication and state information systems Taavi Kotka, the head of the Estonian Ministry of the Interior's migration and border policy department Ruth Annus, and ICT policy adviser at the government office of Estonia Siim Sikkut, in 2025 10 million people could already have got Estonian e-identity.

In his opinion, Estonia has great potential to attract entrepreneurs needing an investment account in the European Union, bringing more customers to Estonian companies and capital into the country's economy. Future e-residents could be charmed by the opportunity to create a company and bank account in the European Union in just one day, the country's fully online tax system, and its highly developed internet banking infrastructure. Also, any profit reinvested in Estonia is tax-free.

"I sent a description of the plan to some well-known investors in Silicon Valley," he said. "If the startups in their portfolio want to expand their business to Europe then instead driving to San Francisco international airport, they can just walk to Page Mill Road, step into the Estonian honorary consul Richard Horning's office, and become an e-resident of European Union via Estonia.

"[They can] register their companies, open accounts — do everything they need to. The first reaction I got from one legendary investor was just one line — 'This is so freaking huge man, it's insane'."

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The primary target groups of the e-residence are:

• Foreign investors and the foreign employees of their companies;

• Foreigners who serve on the Boards of companies (Management Board or Board of Directors), or hold a stake in the corporation;

• Foreign specialists and employees of Estonian companies, their foreign customers and partners;

• Foreign scientists, educators and students;

• Representatives of other countries and international institutions (e.g. the European IT Agency) in the Republic of Estonia;

• Estonian nationals and their heirs who have emigrated from Estonia;

• The family members of the persons listed above.

Thought to share it round here. Brilliant idea in my eyes from economic perspective. All the stuff mentioned in the article (online authentication) can be done anyways from banking and making companies to giving signatures, so why not make use of the current systems and use it to attract foreign investors (win-win) . As reinvested profit is not taxed as well, a lot of investments are likely to come.

Of course, it could lead to some scams, although I love the way they said it.

Criminals are going to be always there," he said. "The question is, are we going to abandon a truly innovative idea because of that? If there are 100,000 companies created and 4,000 of them are scams… that's a problem that we will deal with, but it shouldn't stop us.

originally posted by: Cabin

Summary: Estonia's government has launched a plan to bring e-resident ID cards to the country — meaning anyone can apply to be an Estonian citizen, whether they've set foot in the country or not.

In the near future, those from outside the country will have an opportunity to apply for an Estonian e-resident ID card — which means that they can use Estonian online services, open bank accounts, and start companies without ever having to physically visit Estonia.

That is, if they pass a background check similar to the visa application process and sign up to identify themselves with biometrics such as their fingerprints or iris scans.

Under a plan presented by the deputy secretary general for communication and state information systems Taavi Kotka, the head of the Estonian Ministry of the Interior's migration and border policy department Ruth Annus, and ICT policy adviser at the government office of Estonia Siim Sikkut, in 2025 10 million people could already have got Estonian e-identity.

In his opinion, Estonia has great potential to attract entrepreneurs needing an investment account in the European Union, bringing more customers to Estonian companies and capital into the country's economy. Future e-residents could be charmed by the opportunity to create a company and bank account in the European Union in just one day, the country's fully online tax system, and its highly developed internet banking infrastructure. Also, any profit reinvested in Estonia is tax-free.

"I sent a description of the plan to some well-known investors in Silicon Valley," he said. "If the startups in their portfolio want to expand their business to Europe then instead driving to San Francisco international airport, they can just walk to Page Mill Road, step into the Estonian honorary consul Richard Horning's office, and become an e-resident of European Union via Estonia.

"[They can] register their companies, open accounts — do everything they need to. The first reaction I got from one legendary investor was just one line — 'This is so freaking huge man, it's insane'."

www.zdnet.com...
taavikotka.wordpress.com...
estonianworld.com...

The primary target groups of the e-residence are:

• Foreign investors and the foreign employees of their companies;

• Foreigners who serve on the Boards of companies (Management Board or Board of Directors), or hold a stake in the corporation;

• Foreign specialists and employees of Estonian companies, their foreign customers and partners;

• Foreign scientists, educators and students;

• Representatives of other countries and international institutions (e.g. the European IT Agency) in the Republic of Estonia;

• Estonian nationals and their heirs who have emigrated from Estonia;

• The family members of the persons listed above.

Thought to share it round here. Brilliant idea in my eyes from economic perspective. All the stuff mentioned in the article (online authentication) can be done anyways from banking and making companies to giving signatures, so why not make use of the current systems and use it to attract foreign investors (win-win) . As reinvested profit is not taxed as well, a lot of investments are likely to come.

Of course, it could lead to some scams, although I love the way they said it.

Criminals are going to be always there," he said. "The question is, are we going to abandon a truly innovative idea because of that? If there are 100,000 companies created and 4,000 of them are scams… that's a problem that we will deal with, but it shouldn't stop us.

Great Idea, Can't wait to sign up. Can I get a passport as well?

This WILL lead to criminal activity, but it won't be the majority, it never is. The only question is, When will the European Union or America put a stop to this.

I've always wanted to be part Estonian. A dream come true. Maybe I'll meet an actual Estonian. Do you have to know the language? Point Estonia out on a map? I can't, but who cares!!! Estonians unite.

Interesting that this is news shortly following the articles about the IRS getting access to offshore accounts in those Island nations as well as others.

Coincidence?

I do not think it will increase criminal activity. The criminals already go where ever they want.

a reply to: TXRabbit

The idea of it has been out there longer. First heard about like 2-3 years ago. In recent months it has gotten more attention, as it got further than just an idea.

a reply to: Cabin

Thanks for sharing! It's a great idea. I will look into this when I have a chance.

I'd always thought Estonia is just a part of Russia and I wasn't sure if Estonia still exists after the fall of Russia. However, it's still around as an independent country.

a reply to: Cabin

What about the illegals what if they start signing up? I mean they say anyone from the world, if that's the case sooner or later we might see an influx of illegals in Estonia

Get them all in one place and nuke them

a reply to: starwarsisreal

There will be background checking, mostly the target groups are the ones I listed in the OP.Generally immigration to here is not easy round here, the laws are strict in that part. The amount of immigrants is quite low currently.

Also it does not grant residence permit (at least I believe so). There is a ID-card system working right now, which lets people authenticate themselves online (banking, signing in to places, giving signatures digitally etc). Every citizen is required to have that card. Now they will just start giving these cards out to foreigners, so that they could use the IT-systems, which also gives them access to European markets without the need to travel here.

As a self-employed contractor scratching out a living in an over-inflated economy with an average starter home for 400K, a big HMMMMM. Esto-what?Where?

S&F

With a name like 'Estonia' they have to legalize the plant which must not spoken of here. That would attract many more entrepreneurs.

What an awesome, and interesting idea. Thank you for sharing.

originally posted by: starwarsisreal
a reply to: Cabin

What about the illegals what if they start signing up? I mean they say anyone from the world, if that's the case sooner or later we might see an influx of illegals in Estonia

What illegals are you talking about?

This is perfect! I literally just started talking to a girl from Estonia not too long ago, and have been looking for a way over there... I may be able to use this to my advantage...

Thanks for bringing this up!

The title of this posting is very suspicious, I suspect the person who posted it may have inside knowledge of something.

Many countries grant right of permanent residency if they have over $500,000 in saving to invest. So that won't be much different.

a reply to: Cabin

Nice but European, no thank you very much.

Heh, the mother of my children was born in Estonia , maybe this might make it simpler for me to get a citizenship ?
Naa, the heck with her I'll just sign up on my own just in case she ever decides to take my kids to Estonia without telling me

Tee hee hee