Gibraltar crypto license
Gibraltar is one of the most attractive territories for IT businesses. The country has created comfortable conditions for commercial activities, including low tax rates, no taxes on dividends, and a corporate tax of only 12,5%, which is attractive for fintech companies and cryptocurrency projects. If your business is blockchain-related and you want to run it legally, Gibraltar is a suitable solution. This is a chance for start-up companies looking to launch an investment project following the flexible legal requirements set in that country.
What is the Gibraltar virtual finance license?
The Gibraltar crypto license is a special permit to conduct activity in the field of virtual financial services, digital money wallet management, and cryptocurrency exchange. The digital financial sector is legal. The Financial Services Commission (GFSC) regulates the work of firms in the industry. It is quite possible to obtain a license in this regulated sector of the economy, but one will have to submit an impressive list of documents and wait several months.
Why should you choose www.fintecharbor.com to receive a crypto license in Gibraltar?
The national regulator carefully checks each applicant and transaction for several months. Regulatory compliance is required, so filling out applications yourself will be problematic. Lawyers at Fintecharbor keep track of updates in legislation and are ready to guide you through all stages of obtaining a license.
The process to receive a crypto license in Gibraltar
To become a licensed provider of crypto services in Gibraltar, you need to have a real office in the country, hire local employees and a manager (or relevant position), and also confirm that the firm is running domestically. It is required to transfer the authorized capital, draw up necessary policies and business plans to comply with the AML requirements, and pay state fees. Typically, a license is issued within 9 to 12 months.
How much does it cost to get a Gibraltar crypto license?
Licenses must be renewed annually. The amount differs depending on the type of activity. The complexity of the proposed form of business is assessed at the stage of application. Simple blockchain projects – £10,000 per year, ICO projects – £20,000 per year, crypto exchange operator – £30,000 per year, but in order to set up this business, you should obtain a DLT license – approximately budget for this near 1 million EUR and more than 100,000 EUR per year.
We were looking for an appropriate territory for a crypto startup. The lawyers advised us in detail on the specifics of the legislation, and we chose Gibraltar. We are now in the registration process.
Thanks to the counselors for detailed advice and support in the process of setting up a cryptocurrency exchange. Everything went smoothly and faster than we expected.
Yes, cryptocurrencies belong to the regulated sector of the economy and are recognized as a means of payment on par with fiat money. The activities of exchanges, exchange, issue of tokens, and ICO are allowed.
Commonly, you can obtain a DLT license in 9-12 months, provided you have a local establishment, a payment account, and an office. It should be noted that all applications are evaluated individually. The regulator will check the level of risk, the organization’s management structure, protocols for protecting personal data and financial resources, an action plan in case of force majeure, and much more. It is worth mentioning that every license holder is obliged to report annually to the state regulator.