The Baltic states’ population may only be around 6 million, but the countries are among the most technologically innovative in the European Union.
Estonia is a leader in this sphere and it is seen as a strong start-up hub, especially in the sphere of fintech business. Governmental regulations, that support the new era of innovations, created great conditions for digital commerce.
Estonia is a playground for entrepreneurs
The country holds third place for most start-ups per capita – 30 enterprises for every 100 000 citzens, which is 6 times more than the EU average.
Million Dollar tech companies, such as Skype and TransferWise, were developed in Estonia and went on to conquer the global market.
Founding a company in the country is not merely an administrative act, but also a sign of prestige. The Baltic state has been doing its best to stimulate the growing fintech wave by implementing cut-ting-edge legislative norms and offering a strong helping hand to start-ups.
The development of a healthy and efficient conditions for start-up fintech to grow is largely due to the regulations and initiatives the government has been working on for years now.
The country has the means and mechanisms to not only attract foreign investors, but to provide them with conditions that will give them the opportunity for a long-term prosperity.
The Estonian government has been developing and applying a variety of e-services that reshape the way locals and foreigners make business.
i-Voting, e-Taxing, e-Banking and many more digitally managed services are available to ensure ease and transparency of the business. However, the e-Residency program is something that truly distinguishes Estonia.
The initiative gives you the opportunity to acquire a smart ID card that provides foreign investors the same electronic services that a physical resident would have.
Estonia is the first country in the world to offer such an option and has already attracted more than 24 000 foreign entrepreneurs since its establishment in 2014.
Global traders are also able to open a bank account in the country, without having to enter a brick-and-mortar bank.
All e-services have the same value and legality, as if they were done in person. Their main purpose is to attract more entrepreneurs and give them the means to start a legitimate business, even if they are not resident in the country.
A new world suggests new forms of trade
The ever-evolving realm of digital commerce and the quickly developing fintech sphere require the states and international organizations to provide new forms of regulation.
Estonia is not only a compliant member to all EU-wide regulatory requirements but is actually a driving force in the development and implementation of new frameworks that accommodate new forms of business.
As an established company in the sphere of fintech, we always keep up with the dynamic regulatory changes.
P2P investing with iuvo is conducted entirely in compliance with the most recent changes of the EU requirements, in a manner that is simultaneously secure and transparent.
We pride ourselves on being among the leading P2P platforms in a country that is one of the best developed fintech hubs on the whole continent – we have taken on the challenge and invite you to join us.