This is awesome.
Estonia could have a shot at becoming the "Delaware" for non-US entrepreneurs, esp EU, i.e. have all the high-growth companies incorporate because of clear, friendly startup support infrastructure and laws.
Become Estonia’s e-resident
31–40 of 129 posts
Re: Become Estonia’s e-resident
#32For some time, I have daydreamed of various cool scenarios that would only be possible with a government-issued digital ID. But in my daydreams, I've never considered a third-party government issuer. I don't see value in this beyond the value that I see in a corporate-issued digital ID, and that's hardly more valuable than a self-issued ID. Obviously, Estonia has considered some angle which I have not. You can become…
For some time, I have daydreamed of various cool scenarios that would only be possible with a government-issued digital ID.
But in my daydreams, I've never considered a third-party government issuer. I don't see value in this beyond the value that I see in a corporate-issued digital ID, and that's hardly more valuable than a self-issued ID.
Obviously, Estonia has considered some angle which I have not.
I think the angle is that it allows a business presence in the EU and Eurozone for essentially anyone.
Re: Become Estonia’s e-resident
#33Two things leap out - who makes the smart card? What is the model? - wow - that's just like Neal Stephenson and joining Tribes based not on location but membership. But I can't see myself going to Estonia just to pick one up ... I'll wait till the embassy in London does it :-)
Ah yes the Phyles of Diamond age. But this e-residency is still within the confines of a nation-state, whereas Stephenson's Phyles/Tribes replace the nation-state.
I can see Bitcoin - or its decedents - easily being used for Phyle "ID-card" infrastructure; no nation-state required.
Re: Become Estonia’s e-resident
#34Is there a tax advantage here? Estonia's tax system is supposed to be very simple, and allows for a 0% corporate income tax on all profits that are re-invested into the corporation (source: http://www.incorporate.ee/why-estonia/low-tax-jurisdiction).
Does this mean I can form a corporate entity in Estonia and gain all the tax benefits without any physical presence?
Re: Become Estonia’s e-resident
#35Earlier quoted context omitted.
Which scenarios have you thought of? A start would be to do anything an Estonian can do today online in almost real time. Founding a company online: 5 minutes and you're in business. Very simple tax and other legislation, so very simple reporting online - and getting tax refunds if needed in a few days. But this should not be limited to existing legacy services we use. Think of what you could do anything online with…
* Will and testament * Voting * Facebook (or whatever) * Spam * Banking * Contracts * Jury duty (Don't think boring.. think sci-fi!) * Taxes * Whistleblowing * Bar tabs * Power of Attorney (This one has new meaning in this context. It's a technical thing, a provable act of delegation.) * Police reports Basically the same use cases as PKI, but if it were government issued, the common person would know what it means. A…
Seems pretty practical and doable for me. Probably more than half of these will be available to you via the Estonian e-residency.
The government and ministry under which this is is pretty open to ideas that need a change of legislation to make the e-services available and happen. So keep those ideas coming.
The thing about Estonian e-services has always been that while many other countries say it's not doable, Estonia just does it. Possible in a lean country of smart people.
Re: Become Estonia’s e-resident
#36Why is Estonia the smartest country? Because in Estonia, EVERYONE needs to learn how to code, from primary school to graduating high school. http://venturebeat.com/2012/09/04/estonia-code-academy/
Re: Become Estonia’s e-resident
#37What are the differences between residency and e-residency? E.g. they won't allow me to vote, will they? What else?
Re: Become Estonia’s e-resident
#38Is there a tax advantage here? Estonia's tax system is supposed to be very simple, and allows for a 0% corporate income tax on all profits that are re-invested into the corporation (source: http://www.incorporate.ee/why-estonia/low-tax-jurisdiction ). Does this mean I can form a corporate entity in Estonia and gain all the tax benefits without any physical presence?
Yes, you can keep the corporate profits in the corporate entity until their distribution. There is a 21% tax though on distributed profits like dividends. Until you keep the money in the company or re-invest to subsidiaries, it's ot taxed. http://www.investinestonia.com/en/investment-guide/tax-syste...
The rest depends on various double-taxation treaties which affect more individuals.
Re: Become Estonia’s e-resident
#39Why is Estonia the smartest country? Because in Estonia, EVERYONE needs to learn how to code, from primary school to graduating high school. http://venturebeat.com/2012/09/04/estonia-code-academy/
Re: Become Estonia’s e-resident
#40why isn't this an HTTPS site?