Estonia crypto license
The definition of the crypto license
Why should you choose fintecharbor.com to receive a crypto permit in Еstonia?
The strategy of starting a crypto business in Еstonia
New legislation affecting the crypto industry
To acquire a state license to operate with virtual currencies, you must first set up a firm in the territory. To do this, you should collect a bundle of documents, prepare a legal address, and pay authorized capital in the required amount.
Only then can you sign up for digital money consent in this Baltic State. The subsequent papers essential be presented to the Estonian Financial Intelligence Unit:
- The certificate number and business organization name;
- Corporate contact details;
- A brief description of the establishment operations;
- Internal procedures and policies intended to prevent money laundering;
- Personal information of a compliance officer (must be certified individual);
- Copies of passports of all related persons from all countries of citizenship;
- Information about the lack of criminal history of all related persons regardless of legal status;
- Professional resumes and scans of diplomas from all authorized individuals of the organization;
- Business plan and business projections for at least two years;
Request for a virtual asset provider license;
- Remittance for payment of the government duty;
- Details on existing deposit accounts in an EEA country with cross-border functions;
- List of accounts opened on behalf of the corporation, together with an IBAN of each.
The petition for crypto empowerment takes place through a firm enlisted in the homeland or through a registered branch of a foreign corporation.
Starting from March 2022, the strategy for registering documents has become tougher. As we wrote above, the fixed charge has increased 16 000 euros. The authorized capital has also increased, at least 100 000 or 250 000 euros must be paid.
In addition, new businesses need to register a legal entity, set up an account with a local bank and a place of business within the country. The expenditure of this assistance is paid separately and is calculated based on the specific terms of the customer.
To find out how much it costs to receive a permit and get a comprehensive proposal, call our firm. We will advise you about the cost of preparing papers and filing all required forms.