Paymentwall today launches Passport in a partnership with Estonia’s e-Residency program to help entrepreneurs from around the world establish and manage a business in the European Union.
“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 democratize entrepreneurship globally by offering location independent company management, and Paymentwall Passport will help contribute to our shared goal of digital and financial inclusion worldwide.”
Passport created a global network of companies to help founders find a working space, get localization services, access business banking, register a company in Estonia, an EU member country, and start accepting payments – all in one platform. 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, and Altagram.
“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
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.
“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.”
Passport is officially open for founders from around the world. You can find local services and join Passport at passport.paymentwall.com.
For more information please contact:
Yev Petrov at Paymentwall
+1 (415) 592-7779
passport@paymentwall.com
Arnaud Castaignet at e-Residency
+372 5699 8730
arnaud.castaignet@eas.ee