Estonian officials have revealed that an e-residency project has had 3,816 applications since its launch in December last year – almost double the initial target of 2,000 officials hoped would sign up before the end of 2015.Officials say the figures underline the potential for the initiative to have economic benefits for the economy."This is a new and important market for our businesses," Kristen Michal, the minister of economic affairs, said. "For example, if we get 30,000 e-residents, it could bring an estimated €60 million." "This is the Estonian e-government's best investment opportunity that must not be missed," he added.Citizens of Finland, Russia and Ukraine have submitted the most applications.Targeted at improving business connections, the "e-residency" initiative effectively gives anyone in the world access to the Estonian e-environment.According to the government, this means e-residents will be able to sign documents within minutes, establish a company within an hour, make bank transfers within seconds, and participate actively in the management of a company registered in Estonia despite not being there.To obtain an e-residency, applicants must visit a Police and Border Guard office in Estonia to submit an application and provide biometrical data (your facial image and fingerprints) for a background check. There is a one-off cost of 50 euros (US$64).The country is also planning to expand the program so people can apply at local Estonian embassies around the world within a few years.

Also in the news:

Default ThumbnailEntrust Datacard launches PartnerPlus Default ThumbnailSecuEra Technologies solution earns Federal certification Default ThumbnailMorphoTrust USA wins SAFETY Act certification