Digital Residency for Foreign Investors
Helps governments promote foreign investment
Automates the process of setting up a foreign-owned company from abroad
Supports landmark agreements such as AfCTA and CAFTA
Why it matters
Simpler and more accessible procedures lead to an increase in the number of companies registered. Unpredictable and lengthy procedures, as well as the need to make multiple visits to government offices are often cited by investors as a disincentive.
Further, recent restrictions placed on international travel, unpredictability of flights and reductions in companies’ travel budgets complicate the ability of investors to physically visit a country.
- Companies can more easily establish subsidiaries in the beneficiary country.
- Governments have a tool to improve their attractiveness as a place for foreign investors to do business.
Digital Residency is available to any government that allows foreign investment. It can be implemented in line with existing laws.
The project team analyses with government officials every element of the procedures to create and operate a company creation procedure (laws and rules, information needs, document requirements, fees, roles of different agencies and officials such as Business Registry, Tax administration, Social Security, etc.).
The project team develops the country platform.
The project team enters online procedures into the platform.
The project team trains government staff to operate the system.