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One of Estonia's first "e-residents" explains what it means

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Re: One of Estonia's first "e-residents" explains what it means

#171
post #110

Earlier quoted context omitted.

I haven't read it (yet) but it was described and exerted in a recent BBC podcast on voting patterns in Brexit/Trump elections: https://www.bbc.co.uk/programmes/b09tcvp4 Some interesting people interviewed and points raised.

> exerted "exhorted", perhaps?

Thanks, I actually meant "excerpted". Passages from the book were included in the podcast. I lazily used a phonetic spelling without checking.

Re: One of Estonia's first "e-residents" explains what it means

#172
post #161

Earlier quoted context omitted.

What's the fictitious number? You do need to show proof that you have the 2500 € in a bank account.

If the actual number is 100000, then 2500 seems fictitious?

It's just a matter of how you want to structure the balance sheet.

You can have 2.5k€ share capital and 97.5k€ free capital. This is usually a better arrangement than having it all in the share capital which is "bound" equity. (Bound is probably not the right English word for this — I only know the terminology in Finnish.)

Re: One of Estonia's first "e-residents" explains what it means

#173
post #161

Earlier quoted context omitted.

What's the fictitious number? You do need to show proof that you have the 2500 € in a bank account.

If the actual number is 100000, then 2500 seems fictitious?

The confusion here stems from the multiple meanings of the word "capital".

The logic is identical to for example founding a company in the UK: https://www.gov.uk/limited-company-formation/shareholders

You pick a "name value" and number of shares when founding, for example £1 x 500 shares. This is the "share capital", and official maximum liability of the founders for the company's debts. It also defines the smallest unit of ownership that can be assigned to a person. But of course the actual starting investment, assets, and the market value of the shares can be much higher.

Estonia doesn't use the concept of "number of shares out of total shares", but instead "euros of ownership out of total share capital". For a typical small business you would set it to 2500 EUR and can split ownership at 1/2500 granularity.

Re: One of Estonia's first "e-residents" explains what it means

#174

Earlier quoted context omitted.

Competency in what? The best person to make decisions may not be the best person to talk about those decisions in front of a camera, or the best person to inspire confidence in those decisions in a nation of (by definition) less-competent people who (again by definition) would have made the decision differently.

Well, for example, take the medical profession. There are of course many problems with how doctors are trained and licensed. The AMA might do well with a shake up. But in America you are not getting a license to practice without demonstrating a huge amount of skill, dedication, and competence. Your cousin who is already a doctor doesn't just get to say, "You are in". Or you just have to pay some large amount of money…

um.. it costs a LOT of money to become a doctor in America.

Re: One of Estonia's first "e-residents" explains what it means

#175
post #72

Earlier quoted context omitted.

I accept your argument that few are starving like a national geographic picture. Instead we have merely undernourished schoolchildren in the richest country in world history. As for the adults, maybe we can write sleep outside until you freeze, get shot/stabbed, or jailed where you're threatened with sexual assault and are in general treated like a disease until you acquire enough money to escape the poverty trap and…

The root cause of childhood hunger is more often than not either criminal neglect or parental/financial incompetence than actual cost. I personally grew up in a single minimum wage income household, which supported 2 adults and 3 children. I'm very familiar with dubious food. That said, it is quite reasonable to meet the caloric needs of a grade school-age child in the United States with little regard for taste or va…

This is a very helpful comment thanks for posting. However, I would posit that financial incompetence is something we can avoid by removing financial barriers to decent food. If a child wants a snack, and those snacks were free, then how good you or your parents are with money wouldn't matter. We can implement systems that don't rely on individual competence to achieve end results we want in that vein.

As for the homeless, I would posit for that 20-70% with behavioral issues, we can start at least by offering medicare for all so their symptoms can be treated. Secondly, for the 80-30% who are merely unhoused, the solution for them works quite well!

Re: One of Estonia's first "e-residents" explains what it means

#176
post #47

What Estonia's e-residency actually means. Let's assume you have a startup and you want it to be registered in Estonia, paying taxes and using the Estonian banks for financial purposes. 1. With e-Residency you can't enter Estonia, you need a separate business or travel visa [1] 2. At present, it’s still necessary to travel to Estonia in order to apply in person for an Estonian business bank account. [2] 3. Good, fanc…

> You can't remotely open a bank account, you need to travel personally to Estonia Unless you're from US, you can open bank account remotely http://www.zdnet.com/article/borderless-banking-estonias-e-r...

https://about.holvi.com/e-residents/ - try here o)

Re: One of Estonia's first "e-residents" explains what it means

#177

Earlier quoted context omitted.

Your comment just proved the other guys point. You name drop a few politicians for not having "merit" because you disagree with them.

Nope. There are plenty of politicians I disagree with that are competent. Kissinger, for example. These are incompetent.

Lol. Kissinger. Right.
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