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Estonia Takes Leading Strides in the Digital Age

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Estonia has taken definitive steps towards integrating their country with the digital age. This new service allows individuals and businesses to register themselves as an e-Resident of Estonia via easy e-estonia.com.

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From the 1st of April 2015, foreign representatives will be ready to take interested parties applications. You will still be required to visit the Estonia office twice at this time, once to apply, and then again to receive your card.

However, starting from May 2015 online applications will be available. Applying via an online application beforehand means that you will only need to visit the office once.

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How to Find an Office

id paperIf you are in Estonia, then you simply need to find your nearest Police and Border Guard Office. You can find a list and contact information of all of these offices here.

Or you will be able to visit the local Estonia Embassy in your country. The following countries and cities where this will be available are as follows;

Australia: Canberra / Austria: Vienna / Belarus: Minsk / Belgium: Brussels / Brazil: Brasilia / Canada: Ottawa / China: Beijing and Shanghai / Czech Republic: Prague / Denmark: Copenhagen / Egypt: Cairo / Finland: Helsinki / France: Paris / Georgia: Tbilisi / Germany: Berlin / Greece: Athens / India: New Delhi / Ireland: Dublin / Israel: Tel Aviv / Italy: Rome / Japan: Tokyo / Kazakhstan: Astana / Latvia: Riga / Lithuania: Vilnius / Netherlands: The Hague / Norway: Oslo / Poland: Warsaw / Portugal: Lisbon / Russia: Moscow, St. Petersburg and Pskov / Spain: Madrid / Sweden: Stockholm / Turkey: Ankara / Ukraine: Kiev / United Kingdom: London / USA: Washington D.C. and New York City.

You will have to wait a background check to be conducted, once that is complete you will be notified and your e-Resident card will be available.

Why Become an Estonia E-Resident

E-Residency is currently in beta phase, with a minimal of options available for those entering this element of the digital age. The services available will be expanded upon and will likely reach into every potential possible.

For now, during the beta phase, you will be able to:

● Register your company online in electronic Business Register here (information sheet on the Company Registration Portal can be found here)
● Sign documents digitally with partners, employees and the government
● Exchange encrypted documents
● Conduct secure online bank transfers (with Estonian bank account – list of Estonian banks can be found here)
● Declare taxes online (information about the Estonian tax system can be found here)
● Do online reporting to electronic Business Register here (e.g. submit annual reports)
● Digital prescriptions in pharmacies in Estonia (see overview here)

What You Need To Register

In order to apply for E-Residency you will need:

● Travel document or physical identification document from your native country
● Document photo, taken at the location
● Application form filled out at the location
● Present your biometrics at the location (fingerprints)
● Pay the state fee of 50 euros (currently in cash only, on-site)

E-residency has the potential to save residents noticeable time for business or individual affairs; it can save expenses, and it is more friendly to the environment.

Would you become an e-Resident? Leave your thoughts below. Images from Shutterstock.

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7 Comments

7 Comments

  1. Michael

    April 2, 2015 at 6:32 pm

    It sounds like the opposite of bitcoin. It sounds like über centralisation to me.

    • zash

      April 2, 2015 at 9:46 pm

      well, since bitcoin is going to single digits – who cares? 😀 😀 trololol

      • Michael

        April 3, 2015 at 6:02 am

        it still can. the majority of people prefer centralisation and government control above freedom. Do you know any country without government?

        • zash

          April 4, 2015 at 10:34 pm

          This is one of ur most stupid comments!

    • Ott

      April 3, 2015 at 10:15 am

      Digital anonymity and government backed digital identity are not mutually exclusive. You can build a lot of services if you can prove your identity over the internet. E.g. you can’t do your taxes over the internet with 1 min if you are anonymous or if your identity can’t be proven at all.

  2. ken Code

    April 3, 2015 at 8:14 am

    Um, let me see, why exactly should I go and pay yet another government for my “freedom”? This is like putting lipstick on a pig.

  3. Nerastas Vardas

    April 4, 2015 at 12:07 pm

    Ok, I register company, so will be taxated second time… will it include social insurance pack?

    They tried to do it in “Second Life”, now again… Good way to collect some euros…

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House Pushes Forward With Trump Tax Plan Amid Dissent

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The U.S. House of Representatives is pushing hard to move President Trump’s tax proposal through the legislative process, even as growing dissent rattles confidence in the landmark bill.

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Congressional Analysis

An analysis by the Joint Committee on Taxation concluded Tuesday that tax cuts for lower- and middle-income Americans would fade over the next decade at a faster rate than those for high earners. The analysis found that four out of every five tax filers earning between $50,000 and $75,000 would receive tax relief from the bill in 2019. However, by 2027, that figure would drop to 60%.

Meanwhile, those earning more than $1 million would also see their tax savings fade, albeit at a slower rate than the smaller income brackets. In 2019, about three-quarters of those earning $1 million-plus will get tax relief, a figure that drops to two-thirds in 2027.

The conclusion could spark another round of debate as the Trump administration seeks to push forward on tax reform this year. The tax plan has faced attack from both sides of the political divide, with high-tax state Republicans criticizing individual deductions for state and local taxes.

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The reform bill, which promises to reduce the number of tax brackets, cut the corporate tax rate and implement a one-time repatriation fee, has been described as the most ambitious since the Reagan administration. Through Reagan’s tax reform, the U.S. economy managed to grow by an average of 3.4% annually until the beginning of the Obama administration. And that includes three recessions between the two presidents.

To his credit, President Jimmy Carer before him implemented the biggest regulatory overhaul in postwar history.

Mid-Terms Loom

Republicans have good reason to raise questions about Trump’s tax reform, especially those in high-tax states such as California. Already faced with a difficult re-election next year, California’s GOP Representative Darrell Issa said he wouldn’t endorse changes that “may make it the tremendous burden felt by California taxpayers even worse.”

Republican Ed Gillespie of Virginia was defeated in state elections on Tuesday, a clear sign that the GOP-controlled Congress is under attack. South Carolina is seen as an important barometer of the Democrats’ chances of winning in crucial swing states ahead of next year’s midterms.

Democrat Ralph Northam will be the next governor of Virgina, various news outlets reported late Tuesday.

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Libertarian Speaks: Ron Paul Says U.S. Government Should Not Intervene in Cryptocurrency

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The U.S. government has no place intervening in cryptocurrency, according to former U.S. presidential candidate Ron Paul.

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In an interview with Kitco on Oct. 27, Paul said the government should “stay out” of bitcoin if people want to use it. The former Congressman acknowledged that he didn’t know much about cryptocurrency, but that he was “amazed” by the market’s growth.

“I take some very strong political positions on competing currencies,” Paul said, when asked if he was a believer of cryptocurrency. “And if you can come up with a competing currency, and there is no fraud, I think it should be.”

Although a lot has been said about bitcoin’s black market roots, Paul says government involvement shouldn’t be a given. That message has been lost on several nations, which have grown uneasy about the growth and widespread adoption of cryptocurrency. Major economies like  China, South Korea and Russia have already stepped in to halt the expansion of crypto-assets.  However, most policymakers appear to be open to regulating cryptocurrency insofar as its criminal elements can be controlled.

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Libertarians like Ron Paul are very weary of government involvement in all aspects of life. It should therefore come as no surprise that bitcoin and its altcoin competitors have received strong buy-in from the libertarian, free market community. While the United States has a strong libertarian presence across key segments of its society, this has largely failed to translate into meaningful political reform.

Bitcoin’s market capitalization climbed back above $100 billion over the weekend, with the sum of all coins valued at around $179 billion. Cryptocurrency is by far the fastest growing asset class of 2017, dwarfing stocks, crude oil and other traditional financial assets.

“I am amazed,” Paul said, ” at all the capitalization on these cryptocurrencies. It’s a huge amount of money.”

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Draft of U.S. Tax Bill Coming Within Days, According to GOP Lawmaker

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It won’t be long now before congressional Republicans table their first draft bill to reform the U.S. tax code, according to House conservative Mark Meadows. GOP lawmakers are under the gun to meet President Trump’s ambitious goal of delivering a major tax overhaul by the end of 2017.

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Draft Bill Coming in Less Than Ten Days

House Freedom Caucus Chairman Mark Meadows says the House Ways and Means Committee has promised to release a preliminary tax bill about seven days after this Thursday’s vote on a budget resolution. Based on that timeline, the tax bill should be published on or before Nov. 3, according to Bloomberg.

Last week, Republicans stuck together to pass a 2018 budget plan that many say is the preamble to tax reform. The budget resolution was approved by a 51-49 vote. Rand Paul of Kentucky was the lone GOP member to vote against the measure.

Before giving the final approval, lawmakers must go through another voting process that will begin Thursday and run into Friday morning.

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The new plan, which was first unveiled by the White House this past spring, is pursuing drastic changes to the tax regime. This includes reducing the number of tax brackets, slashing the corporate tax rate and instilling a one-time repatriation tax to encourage multinationals to bring offshore profits back home.

Challenges Remain

President Trump and fellow Republicans face numerous challenges implementing the most ambitious tax reform of a generation. This includes balancing promises of major overhaul against a self-imposed $1.5 trillion limit on the size of those cuts over the decade.

Analysts say that President Trump has considerable leeway to influence the proposal, but that the ultimate penning of the bill is a legislative process. This means it will be Congress, not the president, that will put the final details together.

Tax overhaul was a cornerstone of Trump’s election campaign. Combined with deregulation of key industries and massive infrastructure spending, tax breaks are expected to boost economic growth and make the U.S. more resilient to cyclical downturns.

That’s exactly what happened under the Reagan tax cut more than three decades ago. Although often maligned today, the Reagan tax plan laid the foundation for 25 years of strong, noninflationary growth. The U.S. economy grew an average of 3.4% annually between Reagan and Obama despite three recessions. To be sure, President Carter also helped lay the foundation by leading the biggest deregulatory effort in the postwar era.

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