Cryptocurrency License in Estonia

Cryptocurrency license in Estonia (virtual currency service license) and blockchain business in Estonia

Most businessmen decided on Estonia for their ICO or cryptocurrency business; on the top of it, they keep on doing their business there. The number of ICO and cryptocurrency projects launched in Estonia is on the rise. Since 2017 more than 2000 companies got their cryptocurrency license in Estonia

ATM (automatic teller machine) for Bitcoin are installed, as well as a variety of cryptostartups, virtual exchanges and exchangers

Estonia is ranked first, among the top global countries, for the Internet availability and speed which makes it the comfortable place to do business related to crypto-currency and blockchain projects

6 reasons why crypto-business is to be done in estonia rather than anywhere else

1. Terms

It takes only 3 months to register a company and get a license to operate the crypto-currency project

2. Legislation

In 2017 Estonia was one of the first countries in the world which introduced cryptocurrency regulation. Crypto/blockchain projects can apply for virtual currency service license. (Till 10.03.2020 there were two licenses: for exchanging a virtual currency against a fiat currency and providing a virtual currency wallet service)

3. Cost

The license for the currency exchange in Estonia is 3 to 4 times lower than in Malta, Singapore, Switzerland or the USA

4. Regulatory bodies

Interaction with regulatory bodies and their accessibility is vital for blockchain projects.
Communication and interface with the Financial Inspectorate and the Money Laundering Data Bureau in Estonia is much easier than in the US or Singapore: the required legal information, assistance in solving various issues within their jurisdiction, possibility to communicate in English and Russian languages

5. E-residency

Estonia is open to any entrepreneur from all over the world and is recognized as one of the most developed countries in terms of digitalization and IT. A person who intends to do business in Estonia may apply for an e-residece card that allows access to all government services and simplifies communication with state authorities. This card prevents you from bureaucracy and saves a lot of your time

6. Tax policy and 0% Tax

According to the OECD, the tax policy in Estonia is one of the most competitive tax policies in the world. There is no profit tax in Estonia. Bitcoins and altcoins are not subject to VAT. Yet, ICO projects are not taxed. That means that ICO attracted funds are not subject to profit tax until ICO dividends are distributed

License support in Estonia

Cryptocurrency License in Estonia

Virtual Currency Service License

from 5 900 EUR

The package includes the following services

Preliminary review and analysis of the business model, consultation

Full support to establish a company

Assistance with bank account opening for cryptocurrency operations

Full support to get a license

Submission of all documents and applications to the Financial Inspection and Financial Intelligence Unit

Legal address for the company, contact person service. If necessary, search for a separate office and staff hiring

Payment of all state and notary duties

Legal and accounting consultation

To maintain the regulated crypto-business in Estonia is easier than in any other jurisdiction, but it is noted that full compliance with all legal norms and acts is required.
The governmental policy allows us to assert for sure that Estonia will keep on developing and supporting the blockchain and crypto business.

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