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Brexit is a mess, but UK startups may find refuge in Estonia’s e-Residency
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The UK government has tried to come up with solutions to make the breakup easier on the country’s startups, but it hasn’t addressed the biggest issue: losing access to the EU single market. Luckily, Estonia offers a way for the UK to maintain its foothold.
I visited the e-Residency office in the capital city Tallinn, a unique program that lets foreigners register to become ‘e-residents’ of Estonia. “We saw a sharp increase in applications due to Brexit right after Article 50 was triggered,” Arnaud Castaignet, Head of Public Relations for e-Residency, told TNW. “We received more than a thousand emails that week as many people discovered that they had a solution which could potentially help them remain in the EU business environment and single market.”
Estonia currently has 2,651 British e-residents that have set up 312 companies in the country, and 40 of those were established this year. There’s clearly a lot of interest from the UK in Estonia’s e-Residency program, but what exactly does it mean to be an e-resident, and can it really solve UK startups’ Brexit woes?