In order to start up a successful cryptocurrency exchange business in Estonia entrepreneur is required to obtain a crypto currency exchange license. Estonian cryptocurrency exchange license applies to transactions with funds that are recognized by the society and can be converted into a fiat currency. For example, Estonian license allows you to carry out operations with Bitcoin cryptocurrency. With cryptocurrency exchange license, you may receive funds from third parties as well as transfer them.
To carry out operations with cryptocurrencies, incorporated Estonian company should have a minimal authorized capital that equals to 2,500 Euros. There are no strict authorized capital deposit requirements, however, to get the reputation of a reliable enterprise, it is highly recommended to deposit 2,500 euros on the company bank account, that our team of specialists is ready to open for the client.
An incorporated Estonian company structure should include:
Shareholders of the company have the right to simultaneously act as members of the board. A key requirement for the person responsible for AML is the continuous monitoring of clients' activities with an objective to prevent money laundering and the financing of terrorism. In case of revealing suspicious activites it is necessary to notify the state authorities of Estonia.
Financial services of joint-stock companies are not subject to VAT. For companies, there is a zero income tax rate. Following taxes are compulsory:
Accounting services cost aprx. 100 euros / month and legal address necessary for incorporation and functioning of the company costs aprx. 300 euros / year. Compared with PI and electronic money licensed companies, the overhead costs of the cryptocurrency licensed company is cheaper.
Cryptocurrecny exchange license obtaining procedure in Estonia is regulated and approved by the local law. Our team of skilled professionals will guide you through a specific process and will explain all details, that are vital for the successful result. Our experts accompany clients at all stages - from the process of the incorporation of the company till the final procedure of obtaining the license.
First stage requires:
All these processes are conducted and controlled by our skilled team members. In order to incorporate a company, we will help to collect the following package of documents:
After the company registration is completed, we prepare the documents for a license obtaining procedure.
Cryptocurrency exchange license is issued by Estonian regulator in case following information and documents are prepared and presented in the required manner: