Estimating the three-dimensional motion of an object from a sequence of projections is of paramount importance in a variety of applications in control and robotics, such as autonomous navigation, manipulation, servo, tracking, docking, planning, and surveillance. Although "visual motion estimation" is an old problem (the first formulations date back to the beginning of the century), only recently have tools from nonlinear systems estimation theory hinted at acceptable solutions. In this paper we formulate the visual motion estimation problem in terms of identification of nonlinear implicit systems with parameters on a topological manifold and propose a dynamic solution either in the local coordinates or in the embedding space of the parameter manifold. Such a formulation has structural advantages over previous recursive schemes, since the estimation of motion is decoupled from the estimation of the structure of the object being viewed, and therefore it is possible to handle occlusions in a principled way.