e-Residency contributes €31 million to state coffers in first half of 2024
The direct economic impact of the e-Residency program on the Estonian state amounted to €31 million in the first half of this year.
By comparison, the direct economic revenue from the e-Residency program to the state budget for the whole of 2023 was €67.4 million.
Liina Vahtras, managing director of e-Residency, said the interest in establishing companies in Estonia remains high, though is showing signs of slowing. A
t the same time the number of e-Residency applications was up 7 percent on year to the first half of this year, Vahtras said in a press release.
Taxes paid by Estonian companies founded by e-residents in the first half of the year were mainly made up of labor taxes (€22 million, or 76 percent of the total), income taxes on special cases, primarily dividends, which came to €7 million (24 percent of the total).
€2 million in state fees paid by e-residents during the first six months of the year can be added to this total.
Since the program was launched a decade ago, the direct economic impact on the Estonian state has totaled €244 million.
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Editor: Andrew Whyte
