Member Article

Estonian e-Residency Partners with Top Unicorn Deel

Remote hiring unicorn Deel, whose value is estimated at 5.5 billion dollars, has joined the virtual marketplace of the Estonian e-Residency Programme. Deel facilitates the hiring of international workers and freelancers in 150 countries worldwide, offering a quick, hassle-free and reliable solution to more than 6 000 customers around the world.

The virtual marketplace of the Estonian e-Residency programme continues to expand, now boasting altogether 90 verified service providers catering to the needs of nearly 90 000 e-residents. “Freelancing and digital nomads are currently among the most prominent global megatrends and Estonian e-Residency is the first national programme in the world to empower remote entrepreneurs and teleworkers, offering 100% digital solutions to meet their needs,” said Lauri Haav, Managing Director of the Estonian e-Residency Programme. “The COVID-19 pandemic has profoundly transformed people’s habits, and it is clear that location-independent entrepreneurship and international talent mobility are here to stay. The demand for services facilitating teleworking is high and we are extremely excited that Estonian e-residents can now benefit from Deel’s wide-ranging service portfolio,” explained Haav.

Remote hiring unicorn Deel ranks among the fastest growing startups in the world. According to Deel’s Co-Founder and CEO Alex Bouaziz they are incredibly excited to work with e-Residency. “Having the ability to start a company without the need to go through the usual long and complicated process, which can sometimes take months and tie you to a certain location, helps save new business owners time, money and stress. Deel and e-Residency believe that people’s way of working is fundamentally shifting, and both companies are at the forefront of changing the way the world works. Our collaboration will help meet the needs of thousands of entrepreneurs and enable them to onboard talent across the globe,” he said

Estonian e-resident and Deel customer Dylan Hey believes that this collaboration will expand the opportunities for many other businesses like his. “Becoming an e-resident of Estonia helped me quick start my business much faster than I initially expected. Today, I run Hey Digital as a global team, while constantly on the move, which is possible thanks to the reliable support services provided by Deel and many others available through the larger e-Residency marketplace. While e-Residency allowed me to set up a virtual business that I can run remotely from anywhere in the world, Deel facilitates both payroll and employment contracts, which would otherwise take months and incur considerable cost, i.e., to account for the specificities of national legislation in each person’s country of origin. I believe that partnership between e-Residency and Deel will finally open the door for many other excellent business ideas that have thus far been stifled by excess bureaucracy,” explained Hey.

The Estonian e-Residency Programme was launched in December 2014 with the aim of providing foreign nationals secure access to digital services offered within the Estonian e-governance ecosystem. To date, Estonia has welcomed nearly 90,000 e-residents who have established around 20,000 new companies. In addition to the indirect economic impact (i.e., growth among and investments into Estonian companies offering services to e-residents), the e-Residency programme has generated direct revenue for the Estonian state budget in the amount exceeding 80 million euros.

This was posted in Bdaily's Members' News section by Lauri Haav .