It is closed under exponentiation, that is what E was for. The exponential as it is usually defined for complex numbers is really just the limit if a Taylor series of algebraic polynomials. And incidentally, I am curious how you consider such quantities as e^i, without this kind of redefinition of exponentiation that fundamentally changes what it means to raise a number to a power, from the usual way we think of it. Its easy to define x^3 = xxx, and from that use roots and limits get to any real raised to any other real, but to go from that to raising to an imaginary power of are going to have to extend the definition of exponentiation in a quite artificial (but very useful) way that probably invloves Taylor series.
I think a good example of what I am talking about would be the Fourier transform which I’m sure you know because it is fundemental to physics and also makes very strong use of complex numbers. However from a mathematical point of view, all it really is is a change of basis. Rather like moving from Cartesian to polar coordinates.
A vector is still the same thing no matter what coordinate system I use. If I want to talk about adding vectors I’m better off using Cartesian coordinates. But if I want to rotate vectors, then I am better off using polar coordinates. That doesn’t mean that I couldn’t do it without polar coordinates, just that its a pain in the ass relative to doing it with Taylor series.
The Fourier transformation is the same thing. It provides an easy way to represent functions that makes the convolution of two functions trivial to calculate, while without it doing such calculations is a pain in the ass. But all it is really doing is making the symbol manipulation easier.