How Estonia is Becoming a Prominent Place for Expats and Business Owners Through Innovation
There are many countries in Eastern Europe that are often neglected by prospective investors and expats. One country that is a great example of this is Estonia. The reason that Estonia has mass appeal is that it has sophisticated innovation combined with a very low cost of living for expats. This culminated with the high quality of life that expats can live there makes for a very alluring destination that is not as discovered as of yet. When contemplating where to settle as an expat or start a global business, consider the following discussion about why Estonia may be the hidden gem that you are looking for:
Living In Estonia As A Foreigner: Pros And Cons
You will be astounded by Estonia as a foreigner. This beautiful country tucked delicately away is a powerhouse when it comes to natural landscapes and competitive innovation.
Estonia, with all of its advantages and disadvantages, could be your next paradise home.
Living In Estonia Pros
1. The Education System And Quality Are Outstanding
Educating your kids in Estonia is one of the smartest decisions you can ever make. In 2021, Estonia bagged the top spot in the OECD leaderboards in primary education, specifically in reading, and bagged second place for science and third for mathematics.
Expats with children can be confident in the quality of education and the school system, as Estonia is one of the best countries in the world in terms of education. The unique learning system continues until university, with Tartu University being among the 500 top global universities in the world.
2. Estonia Offers Its Residents Free Public Transportation
Once you become a resident of Tallinn, you can start processing your personalized smart card, which you can use on public transportation. All the modes of public transport in Estonia—the buses, trams, and trains—are very efficient and inexpensive. They are comfortable and equipped with charging points and free Wi-Fi hotspots.
3. It Is An Environmentally Friendly Nation
Even if you are not an eco-warrior, you can’t help but be influenced by how conscious and environmentally friendly the Estonians are. They grow up aware of the importance of taking care of their environment, and you’ll be impressed by how seriously everyone takes recycling here.
The government offers cashback to support these green initiatives, like bringing empty bottles and cans to the “taaraautomaat”. You will receive a cashback voucher that you can use the next time you do your grocery shopping.
Estonia also has the cleanest air worldwide, so if you want a healthier environment for your family, this alone is a good deal.
Living In Estonia: Cons
1. It Is Freezing During The Winter
Experiencing your first winter in Estonia will help you decide if you can endure countless more, or if the biting cold is not for you.
In winter, temperatures in Estonia can drop to -4 °F (-20 °C), and because the country is located in the north, shorter and darker days are common.
On the bright side, you can try plenty of activities like skiing and sledding during these months.
2. There’s A Visible Gap Between Estonia’s Rich And Poor
Based on data from the OECD, there is a clear divide between the rich and poor in Estonia. The income of the top 20% of the population is six times that of the bottom 20%. Almost 18,000 people live in poverty
Only 40 people are identified as super rich in Estonia, and the owner of TransferWise, Kristo Käärmann, is one of Estonia’s wealthiest with a net worth of 258 million euros.
3. Learning Estonian Is Difficult
Learning any language is difficult, but Estonian is a different story. You can always get by in Estonia speaking English, but if you want to stay longer or even start a business there, it would be in your best interest to learn the language.
Be prepared for a nerve-wracking learning experience because, for one, the Foreign Service Institute has ranked Estonian as the 5th hardest language to learn, especially for English speakers. Imagine a language with 14 noun cases and 25 diphthongs. Good luck!
Cost Of Living In Estonia
The cost of living in Estonia is reasonable.
Some essential commodities are cheaper in Estonia—for example, rental costs are relatively low in this Baltic city, up to 62% cheaper than in the US. But as with most European countries, other day-to-day necessities, like baby clothes, cars, and specific groceries, are more expensive in Estonia.
Your monthly expenses vary significantly based on your lifestyle, but overall, most primary needs are more affordable in Estonia. Rent depends on the location and size, but in the capital, Tallinn, a one-bedroom apartment is around €480 ($513.48), and an apartment farther from the city costs around €360 ($385.11).
With a decent lifestyle and occasional treats, you can expect to spend an average of €1200 ($1283.70) monthly.
Best Places To Live In Estonia
Tallinn is a viable option for expats to stay because it is the capital city, where high tourism is anticipated, and because multinational corporations frequently settle here.
Opportunities abound, especially for foreigners fluent in languages other than English, Estonian, and Russian. They can easily find employment in the industries of customer service, engineering, and tech media, to name a few.
Tallinn is Estonia’s commercial and cultural hub, and despite the medieval old towns, it also has high-rise business buildings for Estonia’s highly digitized system.
Parnu is a luxurious tourist destination for beach-loving expats. It has several beaches and parks that give off that relaxed and natural vibe, making it a favorite among tourists as well.
As a result, it has transitioned from being a 19th-century space into one thriving with world-class amenities like cocktail bars and spas. But don’t worry, you can still experience the mud bath houses that Parnu is famous for during your visit because they are still widely available in the city.
Compared to the capital, foreigners would have fewer employment opportunities here, but the tourism industry is thriving, and there’s always that demand for English speakers. The cost of living in Parnu is also relatively lower thanks to its laidback lifestyle.
Tartu, with its energetic atmosphere both during the day and at night, is another top-rated place to live in Estonia. Since Estonia’s oldest university is located in this city, it is where the majority of students reside.
The energy of the youth, young expats, and digital nomads flocking into the country brings this ancient city back to life.
If you want to experience a laidback lifestyle, settle in Tartu. It has plenty of cafés and recreational areas that are huge bonuses for remote workers. Additionally, since research is at the heart of Estonia’s economy, foreigners can find lucrative job opportunities in the fields of technology, science, and education.
Estonia, The Digital Society
Estonia was the first country to introduce and use digital identity cards, allowing all residents to authenticate online quickly. The card also has tie-ups with companies like ISPs and public transportation and can be used as proof of residence and a health insurance card.
Estonia is a forerunner in using technology for the benefit and convenience of its citizens.
Why Is Estonia A Digital Country?
Estonia has earned a reputation as an advanced nation where almost all transactions are done online—voting, submission of tax returns, and even closing contracts. This is, in part, owing to an IC card system that the country has adopted, a mandatory ID for all of its residents.
Every corner of the country boasts technology and a glimpse of what’s to come from the future, like delivery robots, electric scooters, and even reliable 4G connections in the forests.
Starting A Business In Estonia As A Foreigner
For starters, yes, a foreigner can start a business in Estonia. This is made possible by the nation’s initiative to use its E-Residency program to draw technical profiles and digital startups.
This makes it possible for digital entrepreneurs to create their startups without actually having to reside in Estonia. Once you have your E-Residency ID card, you can establish your business in Estonia.
Starting A Business In Estonia: It’s Easy
Although you can still create and build your own business with this government-issued ID, securing your E-Residency is more complicated and will take longer.
E-Resident ID holders can establish their Estonian company in as little as a day, as the process is straightforward, hassle-free, and one that you can do online.
How To Open A Business In Estonia?
Here is the most straightforward approach to opening your business in Estonia:
1. Secure Your E-Residency ID
Apply online, pay the state fee of €100-120 ($106.97-128.37), and select the pickup location for your ID.
2. Choose Your Service Provider
You need to choose an Estonian contact representative from the e-Residency Marketplace. The average monthly cost is €30-150 ($32.09-160.46), including bookkeeping and other services.
3. Register Your Company
Register your company structure online at the e-Business Registry, and pay the company registration fee of €265 ($283.48).
4. Find A Business Banking Partner
Find a fintech business partner at the e-Residency Marketplace to ensure that all your banking needs are taken care of.
5. Be An Active Business Partner In The Estonian Community
Grow your network and be active in the e-Residency community.
As an expat, business owner, or simply someone who wants a cleaner and more relaxed environment, you might want to consider Estonia. If you are a digital junkie who loves everything about technology and how it can contribute positively to society, Estonia is where you should be!
More similar posts:
The Psychology of Expatriation and its Risk
Moving to a new country can be a lucrative career opportunity that only a few are blessed with. But is
How Estonia is Becoming a Prominent Place for Expats and Business Owners Through Innovation
There are many countries in Eastern Europe that are often neglected by prospective investors and expats. One country that is
USA Visa Application – How to Obtain a United States Immigrant Visa
The United States policy on immigration follows some core principles: admitting immigrants with skills that can boost the economy, protect
What to do Before Moving Abroad: Top Tips for New Expats
Moving to a new country can be one of the most exciting and exhilarating undertakings one can take, but it
Cost of Living in Switzerland Vs UK
The UK and Switzerland are both exceptional countries that offer promising prospects for anyone looking to relocate. However, when it
The Ideal Places to Migrate to in Eastern Europe
Eastern Europe is now one of the best areas to migrate and retire. The region has been seeing robust growth,
Relocating to the Netherlands: Pros and Cons
Dubbed the Gateway to Europe, the Netherlands boasts a picturesque setting and is a welcome haven for expats who want
Living In USA: Pros And Cons
Considering moving to the Land of the Free? The United States of America attracts visitors from all over the world
Living In Spain: Pros And Cons
Does the thought of moving to Spain excite you more than all the other relocation options? Yes, but you’re unsure
Moving to Brunei for Work – What It is Like to Live and Work There
Expatriation has become increasingly common in recent years. That being said, expats have formed sizable communities in many areas. For
Living In South Africa: Pros and Cons
South Africa is a beautiful country with amazing weather, incredible wildlife, places of cultural importance, and a laid-back vibe. Often
Living In New Zealand: Pros And Cons
The number of immigrants in New Zealand is among the highest in the world. This may be attributed to the
Living In France: Pros And Cons
Almost everyone dreams of visiting or living in France. French life, with picnics under the Eiffel Tower, glorious nights in
Living In Australia: Pros And Cons
Australia is a dream destination for expats, digital nomads, and travelers alike. With its vast landscape, diverse natural attractions, and
Cost Of Living In Spain Vs UK
When it comes to the cost of living in Spain versus the UK, it’s clear that the Spanish know how
Cost Of Living In New Zealand Vs USA
Between New Zealand and the United States of America, the cost of living is cheaper by up to 22% in
Cost Of Living In Canada Vs UK
Are you thinking about relocating to Canada or the UK and curious how much it will cost to live there?
Cost of Living in Australia Vs Canada
Whether you prefer the Land Down Under or the Great White North, both Australia and Canada offer a high standard
Cost Of Living In Australia Vs UK
Australia and the UK offer compelling relocation options owing to their top-notch educational systems, high standards of living, and diverse
Cost Of Living In Spain Vs USA
The United States of America and Spain are among the best places to live in the world, but they are
Cost Of Living In France Vs USA
France is a treasure mine of history, stunning architecture, and delectable gastronomy. Living there comes at a steep price, which
Cost Of Living In Australia Vs US
The United States and Australia are two countries on the list of attractive destinations for international migrants. There are several
Best Places For Expats To Live In France
Being an expat gives you the flexibility that no other position could give. And it is only natural that expats
Living in Nicaragua: Pros and Cons
There is something so exciting about visiting a new destination—the sights, the sounds, the new people—it’s all so vivid and
Cost of Living in Portugal vs USA
Depending on your personal needs and preferences, living in Portugal or the United States can be a wonderful experience. Although
Cost of living in Colorado vs Texas
Cowboys and rodeos, delicious food and beer served in generous amounts, and a Wild West heritage — Colorado and Texas
What You Should Absolutely Know Before Even Considering Moving to Egypt
Pyramids, deserts, mummies, pharaohs, and sphinxes are all things that people typically associate with Egypt. The names Cleopatra, Ramses, Tutankhamun,
How to Transfer a Pension Abroad: Your Friendly Guide
If you’re planning on retiring abroad, getting your pension in order will be one of your top priorities. In this
Brexit: Timeline, Impact and Aftermath
It’s January 31, 2023 and it’s been three years since the momentous occasion of Brexit. The United Kingdom’s departure from
Property Investments Overseas – Tips and Tricks
Restricting property investment to your own domestic market can mean limiting your returns. After all, what is the chance that
Financially Preparing to Moving Abroad
Many people are considering leaving the country to take advantage of more lucrative job markets, reduced living expenses, or simply
2023’s Most Popular Destinations for British Expats🌎
The decision to move abroad is one that many British expats make every year. Whether seeking new professional opportunities, a
Best Expat Blogs in 2023
Relocating to another country is tough. There is no better way to get the nitty-gritty of expatriation than reading other
Cost of living in Florida vs California
If you love the tropical climate and are keen on living the laidback beach life, you’re probably debating moving to
Cost Of Living In New Zealand Vs Australia
Australia and New Zealand are among the most popular choices for those looking to move to a country with a
Living in Guatemala: Pros and Cons
Guatemala is an ideal blend of natural beauty, attractive architecture, a pleasant climate, and a peaceful, hospitable environment — a
Top 10 UK Expat Destinations in the USA
Where are the top places for Brits to call home when relocating to the US? We have searched the Internet
Moving to Papua New Guinea
Papua New Guinea has experienced a very unique history in that the territory has influences from Spain, Portugal, Germany, Australia,
Should You Move to Portugal?
Portugal is a wonderful and vibrant society that has existed for centuries. For those expats that are looking for a