Estonia's e-Residency Program • Hacker News Board

Re: Estonia's e-Residency Program

#21

Post by Tomte » Mon, May 09, 2016, 4:34 AM UTC

deftnerd wrote: post #3

The current requirement for e-residents to have an Estonian postal address is quite a speedbump for what they're trying to accomplish. The article mentions several companies filling in the gap by offering virtual addresses. Does anyone have any suggestions on a good Estonian company that provides this service?

There is no requirement for e-residents to have an Estonian address. Quite a few tourists who have only been in the country for two weeks (me included) have an e-Residency card.

Maybe you mean a requirement for incorporation or something?

Re: Estonia's e-Residency Program

#22

Post by simonebrunozzi » Mon, May 09, 2016, 4:48 AM UTC

neodypsis wrote: post #17

simonebrunozzi wrote: post #14

I wrote about the program a few months back: http://brunozzi.com/2015/08/22/estonia-e-residency/ (I hope you find it useful)

Thanks for sharing your experience. Have you noticed improvements in the different issues you wrote about? I think they have improved in those you raise in point 4.2 of your post. For example, I tried downloading their software (from https://installer.id.ee ) and got redirected to the Mac App Store to download from there.

I haven't checked recently, but I hope and assume that most of the issues are going to be fixed.

Re: Estonia's e-Residency Program

#23

Post by daghandler » Mon, May 09, 2016, 5:45 AM UTC

mixedbit wrote: post #10

ghock wrote: post #7

Earlier quoted context omitted.

UK probably. But resident requirements for starting companies are somewhat rare these days. Getting a bank account or sorting out your taxes is another story though.

I've heard that to start a company in UK, a UK bank account is required, and it is pretty difficult for non-residents to get.

To start a UK company, it is not necessary. To be in line with accounting compliance requirements, you need to be able to issue invoices from a UK company bank account. In order to obtain that, you need management to be based in the UK (i.e. be resident).

Re: Estonia's e-Residency Program

#24

Post by therein » Mon, May 09, 2016, 6:03 AM UTC

Yeah, I've applied when this was first announced but I couldn't pick it up since they only allowed it to be picked up at their New York Embassy but I was near Chicago at the time. Now I'm in SF and apparently they are coming to SF on May 20th so I'll hopefully get to pick it up.

Re: Estonia's e-Residency Program

#25

Post by zutnop » Mon, May 09, 2016, 7:20 AM UTC

edko wrote: post #8

deftnerd wrote: post #3

The current requirement for e-residents to have an Estonian postal address is quite a speedbump for what they're trying to accomplish. The article mentions several companies filling in the gap by offering virtual addresses. Does anyone have any suggestions on a good Estonian company that provides this service?

Yes. I use LeapIn. Take into account that an address alone is not enough. If you operate, you will also need accounting/tax-filing services. LeapIn provides all of that in a very professional way, and with reasonable prices.

Thank you edko for good words! We're happy to help you :)

Re: Estonia's e-Residency Program

#26

Post by zutnop » Mon, May 09, 2016, 7:32 AM UTC

ghock wrote: post #20

deftnerd wrote: post #3

The current requirement for e-residents to have an Estonian postal address is quite a speedbump for what they're trying to accomplish. The article mentions several companies filling in the gap by offering virtual addresses. Does anyone have any suggestions on a good Estonian company that provides this service?

While the postal address is annoying, I think (currently) having to go there to open a bank account is a bigger deal, since it will be hard to open one anywhere else. Even if you can get a bank account, many payment providers want you to have your business, bank account and residency in the same country (something e-residency won't do). So while I think the are moving in the right direction, it's still reminds me of…

In short:

1) law change for allowing bank account opening without physically coming to Estonia is in the government and should be in force by Autumn

2) our customers are successfully using different payment providers

3) LLC is the "de facto" incorporation type for our customers

4) Becoming an e-resident won't make you an Estonian tax resident, so you don't have to worry about your worldwide income. But when you start an Estonian company then the company finances/taxes have to be done by Estonian laws/rules.

5) Going to Estonia is like going to other European countries. You need transportation and a place to stay and you get them via normal means online :). Visa requirements depend on your real residency. Being an e-resident doesn't change this. For more info: http://www.visitestonia.com/en/

6) For physical coworking space, just google "coworking tallinn" or something similar. Should be plenty of spaces available. If you wan't to see the other end of Estonia, then "coworking tartu" :).

Erko, from LeapIN

Our take on e-Residency: https://www.leapin.eu/articles/e-residency

Re: Estonia's e-Residency Program

#27

Post by zura » Mon, May 09, 2016, 8:17 AM UTC

zutnop wrote: post #25

edko wrote: post #8

Earlier quoted context omitted.

Yes. I use LeapIn. Take into account that an address alone is not enough. If you operate, you will also need accounting/tax-filing services. LeapIn provides all of that in a very professional way, and with reasonable prices.

Thank you edko for good words! We're happy to help you :)

Is it possible to create a merchant account on Google Play store through your service + Estonia e-residency? (from the unsupported country).

Re: Estonia's e-Residency Program

#28

Post by phillc73 » Mon, May 09, 2016, 8:18 AM UTC

mixedbit wrote: post #5

In which EU country starting a company is the easiest and cheapest for people that are not residents of this country?

Consider Ireland.

Initial setup costs might be a little more onerous and expensive than the UK, but can still essentially be completed easily online. The benefit with Ireland is that corporate tax is only 12.5%, compared to 20% in the UK.[0]

[0] https://en.wikipedia.org/wiki/Tax_rates_of_Europe

Re: Estonia's e-Residency Program

#29

Post by neodypsis » Mon, May 09, 2016, 8:23 AM UTC

zutnop wrote: post #25

edko wrote: post #8

Earlier quoted context omitted.

Yes. I use LeapIn. Take into account that an address alone is not enough. If you operate, you will also need accounting/tax-filing services. LeapIn provides all of that in a very professional way, and with reasonable prices.

Thank you edko for good words! We're happy to help you :)

Does Braintree allows e-Resident companies to accept payments?

Re: Estonia's e-Residency Program

#30

Post by nordify » Mon, May 09, 2016, 8:40 AM UTC

Until the Estonian e-resident can open a bank account remotely (likely later this year when the new law goes into effect), the residency is mostly an interesting curiosity, not much more.