Estonia's e-Residency programme hits EUR 125M record revenue in 2025

E-Residency generated EUR 124.9 million in direct state revenue in 2025, up 87% year-on-year, with 13,828 new e-residents (up 20%) and 5,556 new companies formed (up 15%). Part of the revenue surge was driven by accelerated dividend payouts before Estonia’s new dividend tax regime took effect.

Plans for card-free mobile-based e-residency could boost company formation a further 20%. Despite the impressive numbers, prospective e-residents should be aware that Estonia’s evolving tax landscape – including changes to dividend taxation – may affect the cost-effectiveness of the structure compared to previous years.