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Obtain cryptocurrency licence in Estonia in 2021

Cryptocurrency licence in Estonia in 2021

2020-11-26
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You can apply for a crypto licence to Estonia in 2021 by contacting our specialists at IT-OFFSHORE. We will help you to collect the necessary documents and answer all your questions.

Features of licence registration

Obtaining a cryptocurrency licence in Estonia in 2021 to exchange electronic means allows you to start your own legal exchange office. This business area is notable for its profitability, provided that an adequate exchange rate is offered.

You can create an exchange office remotely if you have a cryptocurrency licence in Estonia. In order not to violate the rules of law, a permit is required for such activities. Estonia is the country that offers a relatively small amount of permission in the foreseeable future.

It is possible to obtain a licence only to exchange different cryptocurrency with each other or to exchange ordinary money for digital and vice versa. The advantages of obtaining a cryptocurrency licence in Estonia:

  • It is possible to obtain a licence in Estonia according to the current legislation;
  • The fee for reinvested profits has a zero rate, which allows optimizing taxation;
  • The state is a member of the European Union;
  • The country has a well-developed infrastructure;
  • It is possible to open accounts in the EU and other countries.

When applying for a licence, it is important to consider that working with cryptocurrencies is considered risky and some banks are cautious about such corporate clients. However, it is possible to find a suitable bank in Asia or Europe.

Stages of the registration process

The licence is issued in several stages. First, you need to select the licence type and prepare a number of documents. Permission can be granted only for exchange of cryptocurrencies among themselves or for exchange of all currencies.

To get a licence you need to register a company in Estonia with the address. It is required to have an Estonian resident on the board. Afterwards, an application for a licence is made and an account is opened. After these steps, you can do business. Report documents must be submitted on time.

To open a company, you need to submit a foreign passport, data on the residence address, the address of the company, as well as detailed information on the activities and members of the board. To obtain a licence it is necessary to have a share capital in excess of 12 000 euros, which can only be paid in cash. An obligatory condition is the presence of an office and confirmation that the business owners have no problems with the laws.

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