‏إظهار الرسائل ذات التسميات estonia. إظهار كافة الرسائل
‏إظهار الرسائل ذات التسميات estonia. إظهار كافة الرسائل

Estonia Firm to Roll Out e-Residency Program for Saudi Arabia

Estonia Firm to Roll Out e-Residency Program for Saudi Arabia

Estonia is partnering with Saudi Arabia to develop a e-Residency or digital residency program. The Estonian company B.EST Solutions has signed a deal with the Saudi firm Professional Solutions to roll out this program, which aims to provide a government-verified digital identity for accessing Saudi Arabia's digital infrastructure and business environment.

This initiative is designed to attract skilled foreigners to set up businesses in Saudi Arabia.

For an uninitiated, Digital Residency or e-Residency is a program that allows individuals and businesses to establish a legal and digital presence in a country without physically residing there. This concept is particularly popular in countries like Estonia, which pioneered the e-Residency program.

The e-Residency program will rely on blockchain technology to ensure secure and transparent digital identities and transactions. This will help prevent identity theft and fraud by providing a tamper-proof record of identity verification.

This initiative is part of a broader digital governance exchange between Estonia and Saudi Arabia, focusing on secure cross-border services and attracting global talent and investment.

The agreement was signed during the LEAP 2025 technology conference in Riyadh, highlighting Estonia's commitment to expanding its digital services into new markets. The program is expected to leverage blockchain technology and follow the blueprint of Estonia's successful e-Residency program, which has been online since 2014.

The program offers several bureaucratic and legal advantages for foreigners, including business networking opportunities and access to Saudi Arabia's digital and financial infrastructure without roadblocks.

This collaboration aligns with Saudi Arabia's Vision 2030 plan to diversify its economy and modernize public services. Estonia's expertise in secure digital services and strong state support play a crucial role in this partnership.

The partnership has the backing of the Saudi government and aligns with Saudi Arabia's Vision 2030 plan to diversify its economy and modernize public services. Representatives from the Estonian Association of Information Technology and Telecommunications (ITL) were present at the signing, hinting at future collaborations between Estonian and Saudi IT firms.

Notably, this collaboration builds on previous partnerships between Estonia and Saudi Arabia. In 2024, B.EST Solutions signed a memorandum of understanding (MoU) with Saudi Arabia for collaborations in digital health. Estonian-based firm Bamboo Group is also forging new infrastructure security ties in the Kingdom.

This collaboration is expected to open new opportunities for Estonian companies in the Middle East, particularly in the areas of digital services and secure digital infrastructure.

Several countries have embraced the concept of digital residency, offering programs that allow individuals to establish a digital presence without physically residing there. The countries include Estonia, Liberland, Palau, Azerbaijan, Lithuania, and Portugal

The pioneer of digital residency, Estonia launched its e-Residency program in 2014. It allows individuals to start and manage an EU-based company online, access banking services, and sign documents digitally.

Estonian Startup Glocalzone OÜ Increased its Valuation to €2.15 Mn with the Investment

Estonian startup Glocalzone OÜ, the peer to peer delivery marketplace, today announces it has raised €150K in seed investment, led by Angel Effect firm. The funds will be used to testing new markets and build new partnerships in different regions. 

Glocalzone app is a marketplace for travelers and shoppers who want to reach any product from overseas. You can reach any product from any country via Glocalzone Travelers. Also, you can earn money while you are traveling. 

The “accessibility” and “monetization” problems that Glocalzone offers solutions were real problems that existed in all areas of history, in every region, all the time. Glocalzone established for the solved all that product accessibility problems. 

[caption id="attachment_142388" align="aligncenter" width="1024"] Glocalzone Team[/caption]

This funding round was led by Angel Effect, with participation by Ali Can Kaya, Onur Gargılı, Koray Bahar and Ahmet Bilgen. It takes the total raised by Glocalzone to more than €300K 

Glocalzone CEO Dogan Turan commented: “Glocalzone works on a model that can produce high GMV at a very low cost. Within the first 8 months, we have dominated the market in Turkey. With this investment, we will test several countries. Our first target is India. Also, we will prepare for the Series A investment. Glocalzone can eliminate all obstacles to product access problems for everyone. We will continue to work hard for Borderless Shopping with our team."

App Store : https://apps.apple.com/app/id1439762719?mt=8 

Google Play Store : https://play.google.com/store/apps/details?id=com.glocalzone 

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