Cryptocurrency exchange license in Estonia

Estonia crypto exchange license

Many companies whose activities imply working with crypto wallets and cryptocurrency exchanges give preference to Estonia for licensing. In this small country, you can profitably launch a cryptocurrency exchange, in particular, due to the minimum rate of corporate income tax — 0%.

Estonia crypto exchange license is a mandatory permission document. All business owners working in this field must obtain it to legally provide their services.

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Company registration in Estonia

It is necessary to register a local company, for which a license will subsequently be issued. You should select the name of the company, indicate the participants and provide their documents in order to register a company.

Account opening

The company needs to open a bank account in order to deposit the share capital. Opening an account is a complex process that should be entrusted to professionals. In order to open an account, you should to collect a package of documents and competently conduct further negotiations.

Contribution of authorized capital

The exact amount of authorized capital depends on the type of the license. The beneficiary must provide documents on the source of origin of funds contributed as authorized capital upon bank's request.

Hiring required employees

The company must have key positions employees, some of them must be local. We will help with the search and selection of employees.

Office rent

One of the mandatory requirements is office rent. We will select a budget option that meets the requirements.

Preparation of documents for applying for a license

It is necessary to prepare a business plan, and policies. In addition, application forms must be filled out. The client will only need to provide a basic information, on the basis of which we will prepare documents, taking into account local legislation.

Filing an applicationa

It is necessary to submit an application to the regulator after preparing the company and documents. After submitting an application, you must be ready to answer additional questions from the regulator. We will take care of timely and competent answers.

Obtaining a license

The company receives a license after successfully passing the previous stages. At the same time, it must begin work within six months from the date of receipt of the license. Otherwise, the license may be cancelled.

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Why do you need the Estonia cryptocurrency license?

The above-mentioned permit gives a company the status of a virtual currency service provider. It allows you to engage in:

  • Exchanging cryptocurrency into fiat money and vice versa. The license allows you to legally perform such transactions. Many companies focused on initial coin offering (ICO) will have an additional advantage in the form of compliance with the requirements of Estonian legislation.
  • Providing services related to cryptocurrency wallets. A license to work with cryptocurrency in Estonia allows the company to provide services for sending and receiving cryptocurrencies and storing them.

If you are interested in an Estonia crypto exchange license, it will be issued by the Committee on Financial Monitoring (CFM). To ensure that your company meets all the requirements of this regulatory body and Estonian laws, please contact our experts. They will provide you with qualified legal advice and take care of preparing for licensing.

Cryptocurrency license Estonia: Peculiarities of the procedure

To successfully pass the licensing procedure and legally provide services related to cryptocurrencies, you must first register a company. Its organizational and legal form must be a Limited Liability Company. There are no special reporting or accounting requirements. From time to time, CFM may require certain information related to the company's activities. It is usually associated with confirming compliance with a number of AML and KYC policies.

If you are interested specifically in cryptocurrency exchange, a cryptocurrency license Estonia is granted to companies that have:

  • At least one shareholder and one director.
  • An Estonian resident on the Board of Directors.
  • A bank account opened in the territory of the European Union.

Obtaining an Estonia crypto exchange license: Requirements

It is also necessary to prepare certain documents and meet several requirements. The following list is the minimum requirements necessary to obtain a cryptocurrency license Estonia. In this regard, before beginning licensing, we recommend that you contact our experts to clarify all the nuances.

To establish a company:

  • Passports and proof of residence address of each of the directors and shareholders.
  • E-mail for contacting authorities.
  • Description of the company's activities.
  • Information about the board members.

Requirements to be met to obtain an Estonia cryptocurrency license:

  • Fully paid authorized capital — from 12,000 EUR.
  • An office registered in Estonia.
  • Criminal record certificates — for owners, all board members, managers, and the AML officer.
  • Proof of experience in the field of virtual currencies — for all board members, as well as the AML officer.

If you are interested in cryptocurrency license Estonia, the price of the procedure, full list of necessary documents, and other nuances, our employee will inform you about all these issues during the consultation. Contact us by phone, and we will take care of licensing your company.

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