Estonia’s New E-Resident ID Card Opens Doors
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.
If the Estonian parliament makes the relevant changes to legislation without any significant delays, the Ministry will be ready to hand out the first ID cards for e-residents at the end of this year.
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.