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Comment by wiradikusuma | Hacker News Reader

I'm still unclear of the benefits.

Could anyone shed some light: What can we do with it that we can't do now? Let's say that I'm a solo entrepreneur or small SaaS owner from a developing country (e.g from Asia, Africa or LatAm) -- basically, typical HNer who's not from Europe/US.

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From the article, the author is able to be on the board for an Estonian company and take payment in Euro as a consultant. He can also e-sign documents.

> take payment in Euro as a consultant

Isn't it relatively easy to open a Euro denominated account in most countries?

For an individual it is, not so much for a company

I don't know about other countries but in India it is fairly simple to open one for a company (they are called FCNR accounts). I don't see any government having issues with foreign income making its way to local businesses.

e-residents also have access to Estonia's "estcoin" once it's released: https://medium.com/e-residency-blog/were-planning-to-launch-...

I wish they would first translate all the necessary documents to run a business in Estonia to english, and after succeeding in that, then jump into creating new financial instrument for the new brave digital world.

It is basically a way to make it easier for entrepreneurs to do business in the Eurozone and take advantage of Estonia's generous corporate tax structure. It's mostly a legal / financial device, you can't use it for travel or citizenship purposes.

Are there any real benefits for citizens of other European nations?

For example, I run a small B2B company in the UK - would there be any benefits to incorporating in Estonia?

0% tax on retained earnings.

OK, I can see how that would be a big draw for some companies. Doesn't help me personally though, since I take everything out.

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