00:00Estonia wants to attract entrepreneurs and is banking on the concept of e-residency to do it.
00:05The digital passport allows companies to be founded online in Estonia without the founders living there.
00:12The small country of 1.3 million hopes this will boost economic growth.
00:16For entrepreneurs, it means access to customers in Europe, less bureaucracy and...
00:21Yeah, it's a really energizing business environment.
00:24Michael Opondo from Kenya became an e-resident in January of 2024.
00:28He got a startup visa two weeks later and relocated his IT company, Controva, to Estonia.
00:34Having a presence in Estonia helps him find customers in Northern Europe.
00:39Most of his employees, meanwhile, mostly programmers, live and work in Kenya, lending IT support to Controva's clients.
00:47We keep most of our payroll on the Kenyan side because that keeps our cost very low.
00:52And that enables us to keep moving without the pressure of having to fundraise or have, you know, big money.
01:01About 40,000 e-residents have established companies in Estonia.
01:05They hail from all corners of the globe.
01:07For Michael Opondo, Estonia has become a springboard.
01:11This summer, he plans to relocate his headquarters to Finland.
01:14He sees even greater potential there.
01:17For the small Baltic country, the goal is clear.
01:21More founders, more companies, more economic growth.
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