What is e-Residency?

What is e-Residency?

e-Residency enables entrepreneurs to establish a company abroad online without the need for European citizenship and large capitals.

e-Residency was first implemented by the Estonian government in 2014. Thanks to e-Residency, anyone who meets the necessary conditions can obtain digital citizenship by applying online. In this way, it is aimed that entrepreneurs can benefit from the advantages of being a company established in the European Union market. Entrepreneurs can have the freedom to establish and operate an online business anywhere in the world by establishing a legal company in the EU market. The e-residency program makes it possible to work regardless of location.

How to apply for e-Residency?
First of all, it is necessary to be an e-Resident in the system. For this reason, several documents are requested to be uploaded to the system:

1. A copy of the relevant pages of the passport,
2. A digital photograph compatible with the passport,
3. Letter of intent for the planned company,
4. Online application fee payment with visa or mastercard.

Acceptance of the application and the procedures are completed within 30 days. Information about the acceptance of the application is given by e-mail. Afterwards, digital identity cards can be obtained from the embassy selected during the application. In order to establish a company after becoming e-Resident, it is necessary to obtain a legal address and open a bank account.

How to open a bank account?
There are different types of bank accounts to choose, so you can select what is most suited for your needs. The most preferred types of bank accounts are current accounts, digital and mobile accounts. If you are an entrepreneur and plan to operate your company abroad with e-residency, the most recommended method is to use digital bank accounts. Because with digital bank accounts, the transaction process is shortened and all banking and accounting transactions are easily completed online.

You can prefer wamo's business account. With e-residency approved wamo, you can create an account for your business completely online within minutes. Be sure to check out the wamo business bank account, which is better than a bank account.