E-residency helps the established company save time and money on formal procedures and rather focus on the business side.
It is a digital identity given by Estonia to non-citizens, that enables the person to digitally sign documents and use the public electronic portals without physically coming to Estonia.
As many necessary procedures for everyday business can be conducted through official online portals in Estonia, it helps the e-resident to save time and money regarding procedures with many public authorities (e.g. Tax and Customs Board) and also to avoid unnecessary bureaucracy.
Additionally, as the digital signature is deemed to be equal to a signature certified by a notary, the e-resident can digitally sign power of attorney and other legal documents (e.g. employment contracts).
Starting from 01.02.2020, e-residents also have the opportunity to take part in some Estonian notarial transactions (e.g. the sale of shares), without the need to travel to Estonia (and go to an Estonian Foreign Representation instead).
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