In regards to the Estonian e-Residency program, most questions I receive come from people in Third World or developing countries.
It’s ironic that especially those people who are often at a disadvantage already, have the ambition to do improve their situation and start an online business are often barred from using essential online services and platforms.
While PayPal, Amazon FBA and similar platform continuously add new countries, there are still a lot of places in the world in which aspiring online entrepreneurs can’t use absolutely essential online services.
Using the e-Residency program to establish a company allows you to use using any of those platforms and bypass any country-specific restrictions.
You see as soon as you have your Estonian company set up, the location of your business changes from your home country to Estonia. Thereby, the restrictions don’t apply anymore. For all Amazon/PayPal knows, your business is in Estonia.
The problem is that without this setup, some people are literally trapped.
Estonia e-Residency for India
For this example, let’s assume an Indian software developer wants to use a service which is not available for India. It doesn’t matter whether he signs up for that service under his personal name (as a sole proprietor) or under the name of his Indian company.
In both instances, the location is India – and in our example the service/platform is not available for India.
You can change your physical location by moving to another country and becoming a resident there but this option isn’t available to most. It’s costly and comes with it’s own set of downsides.
The only solution is to have a company in another country. You can’t just move your Indian company abroad, but you can start one abroad.
The Estonian e-Residency program allows you to do just that. In just a few steps, you are able to establish and run your own corporation remotely – from India and anywhere in the world.
You apply for the digital identity card online.
This e-Residency card allows you to establish an Estonian company. The process takes roughly 2 weeks and costs are minuscule (around 200€).
Once the company has been established, you have all the necessary documents to use (almost) any service/platform you desire. You are able to open a PayPal business account, use TransferWise, Amazon FBA …
Another benefits is that there is no paperwork involved during this process (or later on) and everything is done online. This includes signing legal document by using your e-Residency card.
The company has full legitimacy (since it’s located in the European Union) and you have all the tools to take your online business to the next level!