
In 2024 the e-residents founded 4818 new Estonian companies, or an average of 400 new companies per month, which is more than ever before. For the year e-residents and their enterprises contributed to the state count in total complexity of 66,8 million euros in the form of taxes on workforce and income taxes on dividends, and also state taxes for applying to obtain an Estonian digital ID card and establishing a business. According to Minister of Economy and Industry Erkki Keldo, in the need to continue the active development of the e-residency program, so that it can fully realize its potential to increase Estonia’s economy. “Every euro invested in the success of e-residency is already now generating Estonia at least 8 euros. For ten years e-residency has made Estonia a famous digital state, and in the future we need to increase our competitive advantage as the best in Europe business environment with the aim of attracting new companies
e-residents to Estonia, paying taxes, ” Keldo said. In last year the number of new e-residents increased by 11 484, which is 3% more than the year ear earlier. In 2024 E-Residents were created a record number of 4818 companies – 4818, which is also 5% more, than in 2023 year (the previous record was set in 2021 year when 4712 companies were established ). The most new Estonian companies are established by e-resident citizens of Spain (711), Ukraine (387), Turkey (305) and
Germany (299). These citizens of the same countries also lead the ranking of new participants in the program.e-residency Liina Wachtras, the anniversary year of the program was marked by positive dynamics. “We clearly see that as a result of our continuous work, entrepreneurs are increasingly choosing Estonia: every fifth company founded in Estonia last year is e-resident, and more companies have been founded than ever before. Besides quantity, we should focus on quality, that is, on the growth of companies in Estonia, so that their tax revenues and
contribution to the Estonian economy will continue to increase with time, Vahtras noted. She added, that the new strategy for the program for 2026-2029 years, the work on which will be completed in the fall of this year. “If asked what e-residents we want to see in Estonia, the primary attention is on the companies, which already have an operating business and the potential to immediately hire workers in Estonia. For this we need to make the process of establishing the enterprise faster and convenient, develop a cardless program and improve the ecosystem of business services, ” Explained Wachtras. As a positive example of an e-resident company contributing to the Estonian economy, the head of the program cites the PRNEWS – content marketing platform created by an e-resident from Ukraine. Today the Estonian office employs 21 people, a total of six countries, including Ukraine, Armenia, Poland, Belgium, and the United States, a team of 58 employees. The company’s turnover increased in 2024 by 30%, reaching 5.2 million euros, which is three times more than the average of the indicator in the Company.market. In 2024 year the PRNEWS company paid in total more than 375 375 000 euros of taxes on workforce . With the recruitment of new employees and increases
in wages, planned for 2025 year, The company expects that taxes on labor paid to the Estonian government will increase by 50 percent. “E-Residency allowed me to establish a company in the most convenient and transparent business environment in the world. Estonia is now the location of our headquarters and the center of talent from many countries. We are proud that our online platform is used in 109 countries and that
it strengthens Estonia’s reputation as a digital state.” – said founder and member of the Board of PRNEWS Alexander Storozhuk. In 2024 year tax receipts to the state customs from enterprises e-residents were 63.6 million euros. In last year the major part of tax receipts 71%, that is 45 million euros, was from taxes on labor . The remaining 29% was collected from the income tax of legal individuals (mostly from dividends), Total amount of which, received from
Estonian e-resident companies, was 18 million euros. Total expenditures on the e-residency program for all government institutions were 7.5 million euros in 2024. The E-Residency Program was established at the end of 2014 year with the purpose of providing foreign citizens secure access to Estonian government electronic services. Over the past years more than
121 121 600 people (not counting cancelled statuses) from 185 countries. There are more than 59 000 in activity in today .digital ID cards of e-residents with five-year activity period. Over the years of the program e-residents founded and became co-founders of over 33 33 800 Estonian enterprises. The total direct economic effect of the e-residency program for the state (taxes on workforce and
taxes on dividends, and also government fees) was 274 million euros. The program provides the state also considerable revenues thanks to Estonia’s high reputation, the growth of the number of Estonian companies serving e-residents, and investment. The basis for determining the economic effect of the program is the model approved at the state level, which considers the taxes paid by Estonian e-resident companies on the employment power and income
taxesoflegalindividuals(mainlyfromdividends).E-ResidentE-residententerprisesare deemed to bethoseEstonianenterprisesinwhichtheroleofe-residentintheenterpriseisestablishedatthemomentofestablishmentorwithin90daysafterthat,and thee-residentstatusof theforeigncitizenenteringtheenterprisemustbeestablishedbeforetheestablishmentoftheenterprise.