Estonia aims to introduce restrictions on its popular e-Residency program, limiting the number of foreigners who can apply. Here are the key points:
- Reducing Risks: Estonia plans to tighten eligibility due to concerns over security and financial crime.
- Stricter Screening Process: The proposal includes more rigorous background checks to prevent misuse.
- Targeting High-Risk Nationalities: Estonia will specifically restrict applications from countries flagged for higher risks of illegal activities.
- Focus on Quality Applicants: The goal is to prioritize quality applications from trustworthy individuals or businesses.
- Boosting Program Integrity: These changes aim to maintain the e-Residency program’s credibility and international reputation.
- Safeguarding Estonia’s Digital Ecosystem: By tightening eligibility, Estonia hopes to protect its digital infrastructure.
- Potential Impact on Existing Residents: Current e-residents may not face immediate changes, but stricter oversight is expected.
- Collaboration with EU: Estonia is coordinating efforts with other EU member states to ensure a robust, secure digital framework.
- Timeline for Implementation: Authorities have not provided an exact date, but the reforms are expected by 2024.
- Program’s Future: Estonia remains committed to its e-Residency initiative but wants to balance growth with security.
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