Bitcoin Forum

Because of unhelpful Indian laws relating to Cryptocurrency, I'm thinking of obtaining an Estonian eResidency, and starting the ICO/ Blockchain Company virtually in Estonia.  Has anyone here used this Estonian eResidency route before?

Also, will my ICO/Blockchain Company be recognised as an European (Estonian) Startup? I'm asking this because there are several incubators/ accelerators that are open to European Startups exclusively.

Yeah, I've been studying this Estonian E-Residency for some months now, though it appears that the "full package" can be quite costly to obtain (some capital required). However, aspects of the programme appear to be accessible, as proven recently by an application successfully going through for a crypto exchange licence - an individual applied on his own and got it last month after only 2 weeks: https://bitcointalk.org/index.php?topic=3018363

Estonia abandoned its own plans for a national ICO, but also seems to be going ahead for ICO regulatory framework. Gibraltar might be farther ahead with this, but aimed at institutional grade investment.

the e-residency card itself doesn't cost so much. If I remember correctly the fee is €100. Then they do a background check on you. It must be a basic verification to know if you're not well know as a criminal or expert about fraud related to money.
I don't remember reading about another fee to pay to create your company

Lots of people have obtained the Estonian eResidency Card; and several among them have formed virtual companies "in Estonia" for ease of trading in the EU. But, I haven't come across any eResidency Card holder who has formed a company to launch an ICO virtually through Estonia.

Thanks to all the people who posted answers to my query. That was very nice, and helpful on your part. :)

I think that the ICO idap.io is an Estonian eResidency and Virtual Company project. All it's team members are Indians, and only one among them has an 'Estonia' designation, without reference to nationality. Their contact address is also an Estonian virtual address in Tallinn. So, in all probability, it is possible to launch an ICO via the virtual company, virtual address, and Estonian eResidency.

But the e-residency in itself is not sufficient to start a business that is legally Estonian. You need a "real" address in Estonia as well (even if it's just a mailbox with an office service provider).

Yes, you are right. You can rent an office or use a mailbox the cheapest solution. The Estonian authorities help to get this, their website lists reputed providers https://e-resident.gov.ee/service_category/virtual-office-contact-person/. 1Office charges about €200 per year but you can find a lot cheaper.

of course the indian government is unhelpful, they are all unhelpful. main problem for the indian government is to aquire devises abroad. so they can buy industrial equipment abroad.

regards

Hello Guys,

Can anyone help me to get contact details for genuine consultant who can help me to setup company and residency in Estonia.

I'm assuming you mean eResidency. The Estonian Government's website has some useful links. I've found the Facebook group 'Estonian e-Residents' to be very helpful. I'll suggest that you join that group and ask this question over there.

You don't really need a consultant. You can do it alone, it's very hard to do it wrong. All the government websites there, have an English version. You can complete the process in English without any problem. Don't lose your money, unless you're rich. You can even contact them on the sites if you need help with something or have a question.

Has any one done this?  Need more info..