Cryptocurrency license in Estonia (cryptocurrency exchange license and crypto wallet 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 700 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 1.5 months to register a company and get a license to operate the crypto-currency
2. Legislation
A license for the alternative payment instrument is issued in Estonia (referred to as the “virtual value” since 08.12.2017) to run exchange operations with crypto-currency
ICO experts prefer Estonia since the risk of token qualification as the valuable security is far lower than in the USA or Singapore
3. Cost
The license for the currency exchange in Estonia is 3 to 4 times lower than in the United Kingdom, 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-residence
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
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
CryptoExchange
A license of the crypto-currency exchanger with the fiat operations allowed
From 3000 EUR
CryptoWallet
Digital wallet license for crypto-currency
From 3000 EUR
Support includes this turnkey package of services
Preliminary review of the business model, consultation
Full support to establish a company
Help to open a bank account 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. If necessary, search for a separate office and staff hiring
Payment for all state duties
Legal and accounting consulting
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.
