e-Residency Reflections
Back in the summer of 2017 Estonia’s e-Residency scheme (which had been launched in late 2014) caught my eye.
Post the Brexit referendum, and with a number of unknowns, it seemed like an effective way of maintaining an EU company.
The application process was straightforward and although it was not essential at that stage I selected a service provider, XOLO, who I am still happy with today. About 6 weeks later I found myself at the Estonian Embassy in London collecting my first Digital Identity Card.
Estonian Embassy, London - 28th September 2017
It didn’t take long to get to grips with digital signing, appreciating the high degree of security and the ease with which I could access Estonian business services. Then, I admit, I didn’t do very much. The card sat on my desk a little unloved as I contemplated moving business there.
Eventually, I realised I didn’t have to move anything. I would simply wait until I had a new piece of business and onboard that entirely using e-Residency.
It was probably the most straightforward business operation I had done.
Five and a half years later I was back at the Embassy collecting my new ID. The flags outside the Embassy may have changed along with the colour of the card but not the simplicity of e-Residency.
Estonian Embassy, London - 29th March 2023
In summary, these have been the positives for me;
(1) A simple and efficient way of setting up an EU company (I now have two).
(2) A business culture and infrastructure that supports and encourages the entrepreneur.
(3) A country that embraces digital governance and start-up culture.
(4) An e-Residency team that hosts events, fosters connections, and has built a strong and mutually supportive community.
(5) A change in my mindset to embrace new ways of doing things and the benefits of practicing virtual, nomadic business.
(6) Service infrastructure which takes all the strain out of the administration of running your business - you can focus on actually doing business.
(7) A whole lot of new friends and contacts.
(8) Tallinn is now one of my favorite places to visit - even though you don’t have to go there to run your business.
I’m very much looking forward to the next 5 years !
ABOUT THE AUTHOR
Mark Izatt is a brand consultant living in London and the founder of Mission Critical, a highly focused and curated weekly briefing for time-poor and information-hungry decision-makers.
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