Indian businessmen can now virtually set up their startup businesses in Estonia in just 80 minutes. Foreign businessmen can set up their startups through Estonia’s e-Residency program.
307 Indian startups are currently registered with the e-Residency program. 1,062 Indians had applied through this program in 2018. 207 Indians had applied to start a company in Estonia.
There are 2,300 Indian e-residents in Estonia. The list includes Indian bigwigs like Mukesh Ambani and Ravi Shankar Prasad, Union Minister. In fact, a research centre has been set up by Reliance Industries for Jio in the country.
The e-Residency program was launched in December 2014. The program allows you to apply for a digital ID card of Estonia and register an EU company. Applicants can also avail its e-services like banking, finance etc. Applicants also get access to tools which allow them to sign documents digitally.
Riho Kruuv, Ambassador to Estonia, says that the benefit of the program is that foreign entrepreneurs do not need to visit Estonia even once. They can virtually set up their business in as less as 80 minutes.
Mr Kruuv also said that India stood at 8th position in terms of the number of e-residency startups. China stood at the 18th position among 167 countries, as per Your Story.
Estonia is keen to attract India’s rich pool of talent in startups and technology. Numbers are expected to go up in 2019. The country aims to attract 300 more Indian companies in 2019.
Estonia has also partnered with Startups Club which provides support to e-residents from India. It also conducts workshops in cities like Chennai, Delhi, Mumbai etc to raise awareness about the e-Residency Program.
The Startups Club also helps Indian businessmen understand the various benefits of the program. They also guide them in the process of setting up their companies in Estonia.
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If you are looking to Study, Work, Visit, Invest or Migrate to Estonia, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.
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