The Estonian e-residency program was launched in 2014 and by 2020, more than 70,000 foreigners registered about 13,000 Estonian companies.

At the beginning of this spring, the sales of goods and services of such companies totalled more than one billion euros.

According to the official representative of the e-residency program, the gross turnover of companies increased by 450 million euros in 3 years.

According to him, the rapid growth of companies established through e-residency is a huge support for the Estonian economy.

The tax revenue of these companies also increases.
According to the Tax and Customs Board, the main income comes from:
- social tax;
- income tax.

E-residency has existed for more than 5 years, during which time a large number of companies have become successful, large companies both in Estonia and abroad. Many were able to bring their goods and services to the world market and are in high demand. These companies include our customers.

Managing Director Ott Watter is pleased that this program has met all expectations:

- took Estonia to a new level;

- significantly complements the state budget;

- contributes to the development of the country.

In addition to the investments and indirect economic income related to the growth of Estonian companies providing services to e-residents, the program brought a direct income of 35 million euros to the Estonian economy during its five years of existence, which is quite an impressive amount.

He also notes that e-resident companies contribute to the development of local companies - the growth in demand gives Estonian companies a profit and a reason for expansion.

You can find out how to get an e-resident card and use it to register a company in Estonia 100% online in our previous article Managing business 100% online or leave an inquiry on our website.