The small northern European nation of Estonia became the first place in the world to offer digital residency in 2014. It means anyone can base their finances and businesses there, no matter which countries they actually live and work.
Estonian e-Residency is great for digital nomads who need a location-independent business, but also want the credibility and benefits that come with having a limited company set up inside the European Union. It works because Estonia has an advanced digital infrastructure so everything needed to run a company there can be easily accessed online. From the start of next year, it will be possible to open an Estonian bank account from abroad.
Wired has just described Estonia as “the world’s most advanced digital society”, the Economist says it’s “a leader in technology” and the Daily Telegraph says it’s “the new European startup hub”. It’s also worth checking out The Daily Show with Trevor Noah interviewing the Estonian Prime Minister about how the country became so digitally advanced.
E-Residency costs a one-off fee of 100€. That’s good value considering the massive investment that Estonia has made into the digital infrastructure that you’ll now have access to.