Estonia’s e-residency ID card.
The e-residency programme has earned Estonia €31 million in tax revenues
Estonia’s e-residency programme has since its launch earned the state €41 million – €31 million of which is direct tax revenue, the team behind the state-owned initiative announced.
Businesses founded by Estonia’s e-residents have earned the state close to €31 million in tax revenue since the programme’s launch in December 2014, the Tallinn-based e-residency team announced in a statement. Adding the fees paid by e-residents, the state has earned €41 million, according to the programme.
The focus of the e-residency programme has shifted from rapid growth in the number of e-residents to encouraging them to establish strong businesses in various economic sectors to foster their growing tax payment in Estonia.
Ott Vatter, the director of the e-residency programme, said in a statement that tax payments by e-residents’ businesses to the state budget now total over €1.3 million each month. “E-residents have created over 13,000 businesses in Estonia. They are predominantly individual entrepreneurs and creators of small businesses in development stage,” Vatter said. He added that the companies started by e-residents employ over 1,800 people in Estonia.