31.3.2022 | Estonia

E-residents established nearly 5000 new businesses in Estonia in 2021

Text Mark Taylor
Photo e-Residency

Last year, e-residents of established 4700 new businesses in Estonia – a record amount. Since the e-Residency program began in 2014, more than 20,000 businesses have been set up by e-residents in Estonia.

“Companies set up by e-residents enrich the local business environment and enhance Estonia’s image as an attractive destination for foreign investment,” explained Andres Sutt, Minister of Entrepreneurship and Information Technology

“Our e-Residency program empowers entrepreneurs from around the world by providing an opportunity to set up and run a business 100 per cent digitally. At the same time, international businesses and talents introduce new skills and knowledge to the Estonian business space, thereby contributing to the development of local companies and improving their global competitiveness,” Sutt added.

According to Lauri Haav, the managing director of Estonia’s e-Residency program, e-residents have been establishing new companies at a record speed. While it took 5 years to reach 10,000 companies, it took only two more to double that figure.

Source ERR

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