Crypto-license in Estonia
Today, Estonia is defacto a single jurisdiction in EU that provides a trustworthy cryptocurrency license
Why in Estonia
The value of any license - is its acceptance by official departments and financial institutions. The Estonian crypto-license is recognized everywhere, due to the fact that it is constantly being improved and meets all international standards. This is a full-fledged financial license, and not just a notice of activity.
Why license
Estonian cryptolicense allows you to provide all the crypto-related services and stay in a safe, legal field.
Its also a great way to gain trust of your customers. Cryptocurrency itself is an independent means of payment and is often used in scams. However, a licensed company has same level of responsibility as traditional fiat-involved financial businesses.
And in case you want to attract investments, or planning to sell project later, crypto-license will significantly rise your company value.
Money Laundering and Terrorist Financing Prevention Act
The main law regulating Estonian crypto-license (in English).Changes in MLTFPA from 15.06.2022
Latest edit that will affect regulation of Estonian crypto-license (in Estonian).Official registry of activity licenses
Here you can check online whether particular company has a license and the current status of that license.Official commercial registry
Here you can check online the legal status of any Estonian company. Also, you will find most related commercial data, including the list of board members and shareholders.
Links to related official sources
Official requirements
Services included
Detailed roadmap
Prepayment
We issue an invoice, and you make a 50% prepayment + pay for all chosen additional services in full.
10.08.2024Documents from your side
From shareholder- Copy of passport main page, notarized;
- Power of attorney, notarized and sworn-translated into english (we will provide you a template);
- Proof of residential address;
- Certificate of a good conduct.
Other- Description of the planned business activity.
10.08.2024Neccesary preparations
Our lawyers make all the preparations:
- Ensure proposed company name is available to register
- Establish an Estonian legal entity with a desired name
- Assign a legal address to a company
- Write an Internal Control System document*
- Fill all the neccesary forms, required for a license application
* Internal Control System document - is a core document for license application. It regulates how you ensure compliance with the control requirements of the European Union AML/CFT and International Sanctions.
~5 working days15.08.2024You pay the rest 50% at this point
15.08.2024Finishing touches
- We assign to company a valid AML officer
- Onboard a valid member of the board
- Open a corporate bank account in EU payment institution
- Create a business plan for 2 years, required for application (or adapt yours if exists)
- Rent a physical office for your company
~5 working days20.08.2024Share capital increase
Share capital must be contributed in the amount specified for your type of license.
~3 working days23.08.2024Application submission
We submit an application to the Ministry of Economic Affairs and Communications. Within this period, the assigned AML specialist will be invited for an interview at Estonian Police and Border Guard Board.
23.08.2024License issuance
If there was no indication of deficiencies, the license is granted.
~45 days7.10.2024
Extra services
AML specialistLocal AML specialist. Estonian resident, with experience in financial sector and corresponding education.3 months7,500€6 months12,000€12 months18,000€
Member of the boardLocal member of the board. Estonian resident, with experience in financial sector and corresponding education.3 months7,500€6 months12,000€12 months18,000€
OfficePhysical office in Tallinn. Office meets all crypto-license requirements.3 months600€6 months1,050€12 months1,800€
AuditFinancial audit by sworn auditor. Required annually, starting 15th June, 2022.Price:
2,900€
BookkeepingBookkeeping service.3 months450€6 months720€12 months1,200€
EORIThe Economic Operators Registration and Identification (EORI) number is a unique identification number used in the customs territory of the European Union and assigned to an economic operator or other person by a customs authority in order to register that person for customs purposes.Price:
450€
ConsultationAdditional consultation regarding the best practices in crypto-related activity and taxes.1 hour150€3 hours400€10 hours1,050€
VATVAT (value-added tax) number.Price:
500€
In total
Crypto-license:
20,000€Additional services:
0€
Total:
20,000€
Ready-made companies
Dont want to wait? Buy the ready-made company already with license.
Cryptocorp OÜ (2019)
150,000€
Providing a virtual currency services
#FVR000988