Crypto license in Poland
The definition of the crypto license
- exchange between virtual currencies and fiat money (for example EUR to BTC or BTC to USD);
- exchange between virtual currencies (for example BTC to LTC);
- brokering in exchange;
- keeping accounts related to crypto assets (custody services).
- Registration number (crypto-authorization) of the company;
- Date of authorization;
- KRS number (person number in the national court registry);
- NIP number (taxpayer identification number (TIN);
- Type of activity for what the company is authorized.
Why Poland is interesting as a crypto business jurisdiction?
- Poland is developing as a crypto-hub
- Loyal attitude to the development of virtual assets
- Easy and favorable business registration procedure
- Opening a business without the physical presence
- The advantage of being a reputable European company;
- A wide range of banks to open an account for you;
- More favorable maintenance of the company’s accounts.
- Low requirements for the authorized capital of the company;
- Virtually no restrictions on your citizenship, unlike in other countries;
- Preferential tax rates for businesses based on virtual assets
- No physical office requirements.
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How much does it cost to obtain the license?
The cost for obtaining a crypto license in Poland is 8 000 euros.
Why should you choose Fintech Harbor Consulting to receive Polish crypto authorization?
The strategy for starting a crypto business in Poland
- Signup and run a domestic legal entity (in the legal form of Sp. z o.o.);
- Setting up a local business office (not required a physical office) with ZIP-code;
- Opening a corporate bank account in Poland (or EU);
- Registering information about the company in Polish registers (legally binding);
- Preparing of information about company officials (Director(s), UBO(s), shareholder(s), required documentation, policies AML/CFT, KYC;
- Collecting of documents confirming the official origin of funds;
- Applying in Polish Tax Service for authorization;
- Payments of state fees;
- The pending review is about 30 days.
New legislation affecting the crypto industry
1. Application process
2. Firm employees
3. Anti-money laundering (AML/CFT FATF policies)
4. Corporate account
5. Governmental duty
- opening a legal entity – initial capital of 5000 zlotys (1200 euro)
- payment of state fees for the application (about 600 PLN)
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FAQ
The main stages of obtaining Polish crypto authorization
To enter the registry of companies that work with virtual assets, you need:
Prepare corporate documents of the company, as well as the person authorized to represent the interests of the company;
- Incorporation documents (Articles of Association, Memorandum);
- Certificate of shareholders;
- Registered address for company;
- ID for Representative (passport)
- Other required documents.
Pay currently at a cost of 616 PLN (130 EUR); - Complete the procedure required by the Anti-Money Laundering Law.
After obtaining Polish authorization the main necessity is to open a bank account to be able to make payments and profit from their products and services.
Since Polish crypto-authorization is an officially adopted governmental decision (and Poland is within the European Economic Area), customers can open an account at payment institutions (such as Revolut, Bankera and others). They allow you to open an account quickly, reliably, and, most importantly, without the physical presence of an authorized person. Everything can be done remotely.
But if you consider it necessary to open an account in a traditional bank, these options are also possible, but you should pay attention to the pricing policy and the possibility of the necessary physical presence to open an account.
What documents are required?
- Incorporation documents (Articles of Association, Memorandum);
- Certificate of shareholders;
- Registered address for company;
- ID for Representative (passport);
- Bill for paying fees and duties;
- Utility bill or other proof of address (for representative and company);
- KYC, AML/CFT policies;
- Certificate from national court register and polish E-sign.
- Other
We can help you with receiving all required documents.