E-Residency is a system that provides the opportunity to establish a European Union company online. Thanks to this system, you can manage your company digitally from anywhere in the world. Entrepreneurs who are not EU citizens but aim to reach the market and customers in the EU with e-residency can establish their companies online after becoming "e-resident" with a digital identity.
In order to establish a company in the European Union with e-residency, you must first be an e-resident. For this, you need to complete the application process and get approval. After approval, you must receive your digital ID and complete the process of establishing a company and opening a bank account. After opening the bank account, which is the last step, you can take your place in the European Union market.
How can you apply for e-resident?
The first step in the application process is to complete the required documents. Documents to be prepared for e-residency applications:
Passport: The passport submitted in the Estonian residence application must be up-to-date. Persons whose e-residency applications are approved must have their passport with them when receiving their card.
Digital photograph: A newly taken digital photograph with the size of 1300 x 1600 pixels in compliance with biometric standards is required.
Letter of intent: Must submit a letter of intent that explains the reasons for the application.
Resume: A resume containing work and educational backgrounds is required.
Credit card information: In order to make the application fee payment, the credit card information of the applicant must be provided. VISA and MasterCard type credit cards belonging to the applicant are accepted.
How to start a new business with e-Residency?
There are 2 methods to establish a new company with e-Residency. The first is E-Commercial Register's Company Registration, the second is the establishment of a company through a notary public.The most preferred and easiest method is the online company registration method. In this method, limited companies, sole proprietorships or non-profit companies can be established. When creating a commercial record, the names of all the founders, company name and other information containing details about the company are arranged. The proportions of the shareholders from the partnership structure of the company should be specified separately. The application is completed by making the payment for the application process together with detailed information about the company.
How to open a business bank account?
There are multiple ways to open a bank account for your company. The most preferred types of bank accounts are current accounts, digital or mobile accounts and offshore accounts. If you want to establish a company abroad with e-residency, the fastest and easiest method would be to choose digital bank accounts. You can complete the entire account creation process online. You may want to consider creating an e-Residency certified wamo account. With wamo you can have a business account fast, easy and better than a bank account.