As many of you know I have been following the Estonia E-residency project since it’s inception. I think it is a very important experiment in innovative ways that countries can structure their business and immigration laws to be more attractive to potential residents.

In the past it has taken four visits to Estonia to set up a company. They then lowered in down to one visit, which was necessary for opening an Estonian bank account.

All that has changed today.

The Estonia E-residency team has just come out with announcement that it is no longer required to visit Estonia in order to become an e-resident and open a business bank account.

They have partnered with Holvi bank in order to offer borderless digital banking for entrepreneurs. If you’re already an e-resident you can see more about the account offered here.

This announcement has a lot of implications. In his latest blog post E-residency program Director Kasper Korjus (Who has been interviewed on Borderless twice, 1 & 2) writes:

By providing a transnational digital identity backed by the Estonian government and full access to our public e-services, e-Residency enables anyone to set up an EU-based business and then use our advanced digital infrastructure to manage it from anywhere in the world.

It’s Estonia’s gift to the world and it’s creating a new borderless digital nation for global citizens.

For more information read the rest of Kaspers blog post here and find out more about E-residency at their website here.

UPDATE: Unfortunately this service is not available for US citizens.