The best countries to register a cryptocurrency company

Registration of a cryptocurrency company in 2020 is relevant. The advantages of using cryptocurrency are that it is sufficiently reliable and is an independent monetary unit. To work with the cryptocurrency, it is recommended to choose countries that have a positive attitude to the use of such currency.

Top 6 countries to register a cryptocurrency company

There are several countries where it is most profitable to open a firm for cryptocurrency. There is a possibility of obtaining a license in the represented countries. To learn more about the nuances of registration, please contact our specialists at IT-OFFSHORE.

Estonia

The country is one of the few places where you can get a cryptocurrency license in Estonia in 2020 and start a company. In addition to obtaining a license, it is possible to officially work with electronic wallets.

The advantages of opening a company in Estonia are the following:

• Mining and ossession of digital currency is allowed;
• It is possible to sell and buy crypt currency;
• Development of information technology sector;
• ICO operates.

The concepts of Fiat and electronic wallet are officially established in the state. Foreign citizens, including those from CIS countries, can open a company. At the same time, every company working with cryptocurrency must have a contact person who has Estonian residence. To work with cryptocurrency, you will need a financial license. It can only be issued to Estonian legal entities.

Switzerland

It is profitable to open a cryptocurrency company in Switzerland in the canton of Zug. The conditions for running a cryptocurrency business are good, tax rates are relatively low, and the government has a positive attitude towards startups.  The cryptocurrency business is regulated by the general rules on financial intermediation.

You can obtain a work license from FINMA, the main regulator of the Fintech. Block companies do not need a special license to operate - they can obtain a banking permit or a financial intermediary license.

Isle of Man

The jurisdiction is one of the world's financial centers. An advantage of doing cryptocurrency business on the Isle of Man is that tax rates are relatively low  and there are privileges for different categories of business.

The interest of the government in cryptocurrency is growing, therefore, the work of companies with virtual currency is welcomed, provided that the legislation is observed. The country does not introduce a special regime for organizations working with cryptocurrency, as the market is just beginning to develop. For normal operation, companies are required to comply with laws, including reporting this fact to FSC if there is a suspicion of money laundering through services.

Malta

Malta is one of the most loyal countries to the Blockchain and service providers associated with cryptocurrency. The legal framework is constantly being improved and characterized by transparency.

There are several types of licenses in the country for working with cryptocurrency - from limited to complex. It is possible to obtain a Class 1 license for receiving and transferring orders and for consulting on virtual assets. To provide VFA services and conduct transactions with other people's funds, you will need a Class 2 cryptocurrency license in Malta. You will need a Class 3 license to perform all operations without exchange. The license of class 4 is required to execute VFA operations, including operations with client funds.

Denmark 

The country is friendly towards cryptovite. Some companies accept cryptocurrency as payment for goods and services. The country has repeatedly announced plans to give up cash over time. A positive attitude towards digital currencies has been formed due to potential changes.

The country has no taxes for operations with cryptocurrency due to the lack of regulation. The tax rate on profit from currency trading is actually 0%.

Australia

This country strives to become one of the centers of block technology development and is considered favorable for business establishment. Cryptocurrency in the country is one of the ways to make payments. Standard tax rules are applied to transactions related to virtual currency.