Company Registration and Obtaining BSP and DASP Licenses in El Salvador

With the European MiCA law coming into force, more and more crypto companies are looking for alternative jurisdictions to operate in. El Salvador, which has officially recognized Bitcoin as a legal means of payment, offers entrepreneurs attractive conditions for creating and developing a cryptocurrency business.

Advantages of the El Salvador jurisdiction

El Salvador is actively developing the legal framework in the field of digital assets and provides the opportunity to obtain two key licenses: BSP (Bitcoin Service Provider) and DASP (Digital Asset Service Provider). These licenses allow you to legally provide a wide range of crypto services both domestically and internationally.

Among the main advantages of registering a company in El Salvador are a zero-tax regime, minimal requirements for the size of the authorized capital (only $2,000, of which it is enough to contribute only 5% at the registration stage), as well as the absence of restrictions on the citizenship of the founders. The company can be established without personal presence, and all participants can be both individuals and legal entities.

Requirements for obtaining licenses

To obtain BSP (Bitcoin Service Provider) and DASP (Digital Asset Service Provider) licenses, the following conditions must be met:

• At least two shareholders and two directors (individuals or legal entities);
• All participants must have a tax identification number in El Salvador;
• At the licensing stage, two local directors and two AML officers with experience from 1 to 2 years are required;
• After receiving the license, it is enough to leave one local representative as a contact person.

Registration times

The registration and licensing process is organized efficiently:

• Company registration (LLC) - 5 working days;
• Obtaining a BSP license - about 4 weeks;
• Obtaining a DASP license - up to 6 months;
• Opening a bank account - about 4 weeks.

The processes of obtaining BSP and DASP licenses can be carried out in parallel, which reduces the overall time to launch a business.

For those interested in a quick start, there is an opportunity to purchase a ready-made company with a BSP license, with the DASP procedure included. This significantly speeds up market entry and minimizes initial organizational difficulties.

El Salvador offers a unique opportunity to enter the regulated crypto market with flexible and transparent conditions. This is especially relevant against the backdrop of tightening regulation in EU countries.

IT-OFFSHORE specialists are ready to accompany you at all stages of registration and obtaining licenses, selecting the best solutions for your goals and objectives.