The international payments company Paymentwall is launching a new service today called “Passport” in collaboration with Estonia’s e-Residency programme to help entrepreneurs from around the world to digitally establish and manage an EU company empowered with global payment solutions.
By using Passport, entrepreneurs and businesses will have access to a global network of companies that offer a range of support services to help them build a truly international company. The platform allows users to find workspace, get localization services, access business banking, register a company in Estonia – an EU member country – and start accepting payments all in one place. The network now consists of over 100 companies and institutions, including Estonia’s e-Residency program, the Estonian Centre of Registers and Information Systems, Paymentwall, Holvi, Terminal3, and Altagram.
“We are delighted to be part of this groundbreaking initiative from Paymentwall”, explained Kaspar Korjus, Managing Director of e-Residency. “The business world does not have any shortage of ideas or talent, but financial barriers are still holding people back from their entrepreneurial potential – often just because of their location. E-Residency is aiming to democratise entrepreneurship globally by offering location independent company management, and Paymentwall Passport will help contribute to our shared goal of digital and financial inclusion worldwide.”
“We are incredibly excited about the launch of Passport. Estonia’s e-Residency program was established to enable entrepreneurs from around the world to open and run a global EU company fully online. Now with Passport, the process of setting up an EU company and connecting the payment processing solutions becomes even easier. Passport is especially useful for entrepreneurs in countries like Ukraine, Turkey, India and others, where we already see strong growth, primarily because the global payment solutions are not as readily available.” said Oleg Gutsol, Head of Global Growth at e-Residency.
“Starting a business should be a simple and streamlined process anywhere in the world,” said Honor Gunday, CEO of Paymentwall. “We built Paymentwall Passport to remove the barriers that prevented entrepreneurs in emerging markets to pursue the most innovative ideas and to help them incorporate in the European Union.”
To start an EU-based company, you will need to become an e-resident of Estonia, obtain a business address from a number of service providers, choose your business name, and register the company online with the e-Business Register or with the help of a business service provider. Once you have successfully registered your company – you will gain access to a merchant account and will be able to start accepting payments from around the world.
Passport is officially open for founders from around the world. You can find local services and join Passport here.
For more information, please contact:
Yev Petrov at Paymentwall
+1 (415) 592-7779
Arnaud Castaignet at e-Residency
+372 5699 8730
About Paymentwall (www.paymentwall.com)
Paymentwall is the leading global payments platform. The platform allows 5 billion people make payments using not only credit cards but also 150 local payment options all over the world. Paymentwall solves payment problems of large scale companies with technology and we enable payments for end-users all over the world. Today, Paymentwall helps over 200,000 merchants, including SEGA, LG Electronics, Bandai Namco, Shopify, Kakao Games, Kigo, Wargaming, Tencent, and Gameforge to accept payments and scale globally.
About Estonia’s e-Residency program (e-resident.gov.ee)
E-Residency offers the possibility to open and run a global EU company fully online from anywhere in the world. Estonia is the first country to create a borderless digital society for global citizens by providing e-Residency. Everyone can apply for this transnational government-issued digital identity and benefit from the e-Residency platform, which is built on inclusion, legitimacy and transparency.
E-residents can: open a company within a day and run the company remotely, apply for a business banking account and payment card, conduct e-banking, use international payment service providers, declare taxes, and sign documents digitally. All of this can be done fully online, without the need to hire a local director. E-Residency does not provide citizenship, tax residency, physical residency or the right to travel to Estonia or EU. So far, more than 22,000 people from 138 countries have applied for e-Residency and together they manage more than 3,000 companies.