Buying a ready-made company with a cryptocurrency license: what you need to know
A cryptocurrency license is official permission to work with virtual assets. It can be obtained in two ways. The first way is to register a company, collect documents, apply to the supervisory body that issues the license, and wait for several months while the authorities examine the papers. A faster way is to buy a ready-made company with a cryptocurrency license, which allows you to start working immediately. Read what to look out for when buying a company in this article.
Why you need a cryptolicense
Before getting a license, a cryptocurrency company is subjected to a thorough inspection, which minimizes the risk of fraud and money laundering. In this way, legalizing a crypto business protects users' cryptocurrency assets. Such a company is trusted and uses its services.
Where you can get a cryptolicense
Before buying a ready-made company with a cryptolicense, you need to decide where you plan to do business. Many governments are just looking at the possibilities of virtual assets, so they don't issue licenses everywhere.
The official cryptocurrency license is issued in the following countries:
- Lithuania - 2 licenses. One for exchange services, the second - for storage of virtual assets in cryptocurrency wallets. Lithuania is loyal to the crypto-business, characterized by low prices;
- Estonia - 1 license, the price of which is more expensive than in Lithuania, but cheaper than in many countries;
- Portugal - license started to be issued in 2021, there are few legal cryptocompanies, it is not easy to buy;
- UK - positive attitude to cryptocurrency business. The Isle of Man, which is part of it, is one of the leading cryptocurrency centers in the world;
- Switzerland is one of the first countries to officially legalize cryptocurrency;
- Croatia - the crypto market is actively developing, there are many interesting proposals;
- USA - each state has its own laws, tax rates, and different types of licenses;
- Japan - one of the few countries where cryptocurrency is an official means of payment;
- Hong Kong - you can trade tokens without problems, but to change them into real currency, you need to get a license Money Service Operator.
Cryptolicense, obtained in the EU, opens wide opportunities to work in the European market.
How the purchase of a cryptocurrency company proceeds
Having determined the country where you want to work, you need to start looking for a cryptocurrency company. Entrust the task to IT OFFSHORE specialists who will help you buy a ready-made company with a cryptocurrency license that meets all requirements. The whole negotiation stage, deal execution, re-registration is accompanied by lawyers who will defend your rights as much as possible.
Buying a cryptocurrency company goes like this:
- We thoroughly check the company you want to buy. We study the financial performance over the past few years, the structure of the company, evaluate the business, report on all the strengths, weaknesses, and credits;
- Lawyers check the purity of the transaction. If everything is OK, we offer to make a deposit;
- Specialists prepare/verify all the documents that are required to buy/sell a cryptocurrency company in a given country;
- Paperwork is certified by a local notary, and the apostille is applied;
- Purchase of the company (personally or through proxies). The contract clearly describes what is sold (whether the deal includes equipment, office, etc.);
- The seller transfers the property rights, the buyer transfers the money. Purchase is legally formalized at the notary.
When the transaction is completed, the documents are submitted for re-registration.