Estonia’s e-Residency programme has shown significant growth in the past year, with data revealing that the majority of new businesses in the country are founded by entrepreneurs who have recently joined the programme. The report, published on Tuesday 15 September, 2026, shows that 80% of new e-resident companies were created by individuals who became e-residents in the same or previous year.
Since the beginning of the year, Estonia has welcomed 9,000 new e-residents, with a record-breaking 34% of them already starting a business in the first two months. This has resulted in over 4,200 new companies being founded, with an average of 600 companies starting each month. This marks a 36% increase from the same period in 2025 and a 47% increase from the same period in 2024.
The state has received 57.6 million Euros in direct income from e-residents’ businesses in Estonia, with 35.3 million in labor taxes, 19.5 million in dividend income tax, and 2.8 million in state fees. Since the establishment of e-Residency, the programme has contributed a total of 457 million Euros to the Estonian economy.
According to Minister of Economic Affairs and Industry, Erkki Keldo, e-Residency has become a key tool for attracting international business and growing service exports. “e-Residency allows entrepreneurs from around the world to choose Estonia as their home for business and brings companies and income to our economy that would otherwise go elsewhere,” said Keldo. He added, “The demand for Estonian accounting, tax, legal, and other business services is growing, giving our companies new clients and the opportunity to grow in the global market.”
Head of e-Residency, Liina Vahtras, explained that the programme specifically targets foreign entrepreneurs with growth ambitions, who are ready to quickly start their business in Estonia. She highlighted that almost every second Estonian startup is associated with an e-resident, showcasing the value of attracting international talent to the country’s business ecosystem. “The faster a foreign entrepreneur goes from application to company establishment, the sooner their activities will have an impact on the Estonian economy, and they will immediately start contributing to the sales revenue of service providers,” noted Vahtras.
A recent study revealed that in 2025, e-residents purchased over 18 million Euros in business services from Estonian companies operating on the programme’s official service provider platform, the e-Residency Marketplace. Turnover from servicing e-residents has grown by 17% year-on-year, with some companies reporting that e-residents make up over half of their business. According to Igor Raikhelgauz, founder of Magrat, which services e-residents, the programme has created opportunities for Estonian service providers to build an international business from a local base. “The Estonian market alone would not be able to offer such growth opportunities,” he noted. In the past financial year, Magrat’s turnover grew by over 60% to 1.37 million Euros, and their team has expanded to 22 people. Raikhelgauz stated that the reason behind these numbers is the increasing number of e-resident companies and the need for good accountants and advisors.
He also mentioned that e-residents require services such as company formation, local contact persons, and monthly accounting the most. As companies grow, the demand for more complex cross-border tax and business advice also increases. Magrat has seen the most significant growth potential in Ukrainian entrepreneurs, including in the diaspora, but interest in the Estonian business environment also remains strong in Western Europe.
Since its launch a decade ago, over 144,000 people from 187 countries have become e-residents of Estonia, with over 43,600 companies founded or co-founded by e-residents. Approximately one in five new Estonian companies is founded by an e-resident each year. The programme’s economic impact is measured by the labor taxes and special income taxes paid by Estonian companies founded by e-residents, with the majority being income tax on dividends, as well as state fees related to applying for e-residency and establishing companies.
The e-Residency programme is implemented by the Estonian Business and Innovation Agency and has generated direct economic impact equal to 0.5% of Estonia’s GDP annually through taxes and state fees. For more details and statistics, visit: e-resident.gov.ee/
