Monday, November 11, 2019 Mina olen Eesti e-resident! 🇪🇪

I believe the title of the post proclaims me to be an Estonian e-resident. jules likewise. This marks the culmination of a very straightforward on-line process which was remarkably painless right up to the moment that we had to attend the Estonian Embassy in London to pick up our identity cards in person, at which point we had to brave Britain’s creaking rail network.

The point of establishing e-residency is to be able to set up a business there, which will enable Blue Skies Research to remain seamlessly in the EU in the event of the UK ever managing to leave. Not that the latter looks very likely, but in order to collaborate on any long-term project based on EU funding we need to be able to prove that there’s a plan in place to cover the theoretical possibility. This must be one of these “Brexit bonus” things that the tories have been promising us for the past few years. Though “bonus” would usually imply some sort of gain rather than added costs and bureaucracy, not to mention the losses in corporation tax which will henceforth be paid in Estonia rather than the UK. Even for our part-time hobby business, that is likely to be several thousands, perhaps up to ten thousand pounds, per year lost to the UK indefinitely into the future. Our combined share of EU membership fees is probably under a hundred quid per year. Even the bare cost of health insurance for when we visit our colleagues there will cost more than that when we lose the EHIC. But we will apparently get blue passports and we may eventually get a new 50p piece too when they have worked out the design. Apparently they had almost finalised that a while back, but hadn't worked out what to do about the border. Boom tish. Of course they still haven't, so Bonson is just lying through his teeth every time he opens his mouth, and the same old tory voters will just lap it up cos he's such a cheeky chappy with those clever latin bons mots.

We did managed to arrange another couple of things during the two-day trip, so it wasn’t a total waste of time. And it was cheaper than expected too, due to three of the four train trips being significantly delayed to such an extent we can reclaim half of the travel costs.


crandles said...

Proudly boasting of your tax dodging transfer of all that goodwill value out of your UK company without paying the tax due on it? ;)

James Annan said..., there is no "goodwill value" being transferred anywhere. In fact the UK company will continue to exist, at least initially. will be a separate entity. Any contracts valued in UKP and originating from inside the UK might as well stay there - the issue is whether we will actually get any of these...

Corporation tax rate in Estonia is actually just a smidgin higher than the UK (20% versus 19%), but the choice is between paying a little more tax on the profit, versus having no profit to pay any tax on at all.

David B. Benson said...

Sorry about all that.