Estonia imposed restrictions on obtaining e-residency and opening crypto companies

The new sanctions have affected the citizens of Russia and Belarus

29.03.2022 - 07:25

332

1 min

What’s new? The Estonian authorities have decided to limit the issuance of the country’s new e-residency permits for citizens of Russia and Belarus. This was announced by the Estonian Police and Border Guard Board.

News on the website Politsei.ee

What is the reason for the restrictions? The suspension of the acceptance and issuance of e-residency applications is related to the country’s joining of the anti-Russian sanctions.

Those citizens who already have a valid Estonian e-resident certificate will be subject to increased monitoring by the Financial Intelligence Unit, the Internal Security Service, and the Tax and Customs Board. If violations are detected, the e-residency will be revoked.

What is known about e-Residency? E-Residency is a special program to provide foreign nationals with access to digital public services in Estonia, including the remote opening of companies. This service has been popular with the founders of cryptocurrency startups, who were given the opportunity to quickly enter and legally operate the company in the EU market.

Author: