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Crypto Regulation & Licenses Explained by Consulting24

Most Popular - Lithuania crypto licenses

Company registration

VASP registration acquisition within FNTT

State and notary fees included

AML/CTF documentation

Share capital deposit account opening

Staff recruitment 

Our Journey

At Consulting24, what sets us apart is our unparalleled experience in the crypto sector, starting in 2017 with the ZPAY token launch via an ICO for Zantepay. This initial phase of developing a crypto wallet and debit card integration laid the groundwork for our deep understanding of the blockchain technology. Facing challenges head-on, we pivoted to become a leading force in Estonia's emerging crypto hub. Since 2019, we have excelled in crypto license consulting, processing over 500 licenses, including a crypto license in Estonia for Binance, investing in over 100 innovative projects, and providing strategic guidance to major crypto funds like Sheesha Finance. Our expertise extends across Ethereum, Stellar, Tron, and BNB Chain, with a focus on token development, staking, minting, and liquidity pools. With a robust LinkedIn network of over 30,000 followers, we stand out in the consulting world by leveraging our rich experience to empower our clients at Consulting24.

token launch via an ICO for Zantepay and crypto licenses

Our Clients 

testimonials

Compare Lithuania, Estonia and Dubai Crypto Regulation.

Feature
Lithuania
Estonia
Dubai
Cost
20 000€
25 000€
20 000€
License Type & Government fee
1. Cryptocurrency exchange license 2. Crypto wallet and custodian services license
1. Cryptocurrency exchange license 2. Crypto wallet and custodian services license
1. 9,700€ - Advisory Services & VA Transfer and Settlement Services
No additional fee
10 000€
2. 24,250€ - Broker-Dealer, Custody, Exchange, Lending and Borrowing & VA Management and Investment Services
Audit
Not required
Monthly and yearly are needed
May be required by VARA
Office
Can be virtual
Required
Required
AML (Anti-Money Laundry Officer)
Local needed
Local needed
Can be any nationality
AML monthly salary
Starting from 1200€
Starting from 2000€
5000€
Local director
Can be any nationality
Can be of any nationality, but have to live in Estonia
Can be any nationality
Share capital terms
25% now, 75% within a year.
Immediately
Immidiately
Required share capital
125 000€
100 000€ - Crypto wallet and custodian services license. 250000€ - Cryptocurrency exchange license
24,250€ (Advisory Services) - 194,000€ (Exchange Services)

Tax Comparison

Tax type
Lithuania
Estonia
Dubai
Dividends
15%
Estonia generally does not levy withholding tax on dividends. A 7% withholding tax applies to dividends paid to resident and nonresident individuals by companies subject to corporate income tax at the reduced rate of 14%.
0%
Corporate tax
Entities with under ten employees and annual revenues below EUR 300,000 qualify for a 0% Corporate Income Tax (CIT) in their first year, and 5% thereafter. Others face a 15% rate.
0%
Profits below AED 375,000 are taxed at 0%, while those above are at 9%.
crypt license

Lithuania Crypto License - Your Guide to Cryptocurrency Regulations in Lithuania

In Lithuania, obtaining a crypto license is crucial for businesses dealing with cryptocurrencies. The regulatory framework ensures compliance with EU directives, focusing on anti-money laundering (AML) and counter-terrorism financing (CTF) measures. Applicants must adhere to strict financial, operational, and security standards, and are often required to establish a physical presence in Lithuania.

Lithuania's picturesque landscape serving as the backdrop for an emblem representing Lithuania's commitment to regulating crypto licenses.

Company  & License Setup

30-60 days

 Remote bank account setup

Lithuania's crypto license is accepted by more than 70 banks and payment institutions.

Manage Online

Manage the Lithuania unit remotely.

 Lithuania Crypto License Explained

Lithuania's picturesque landscape serving as the backdrop for an emblem representing Lithuania's commitment to regulating crypto licenses.

In Lithuania, companies providing virtual asset services mainly need two key licenses:
 

  1. Cryptocurrency Exchange License: This allows a company to manage transactions converting virtual currencies to FIAT and vice versa. Additionally, it authorizes the company to enable digital currency exchanges between users, earning revenue via service fees.
     

  2. Cryptocurrency Wallet License: This license permits a firm to securely hold clients' digital currencies in their wallets, also giving the firm authority over the private keys associated with these wallets, ensuring the secure handling of digital assets.

price

Cost 

Company & license cost

1. 15 000€ - Company registration & crypto authorisation submission;

2. 1500€ - Fees for opening deposit and operational account. Fees applicable by EMI are excluded;

3. 3500€ - Required AML/KYC policies;

Total: 20 000€

Extra service:

3500€ - Exclusive AML officer recruitment. Salary starting from 1500€.

Virtual office

500€/year

(1-st year included)

Process

Consultation

 

To start, register for 30-minute free consulting.

01

02

Signing the Contract

 

Finalizing the agreement and initiating a group chat with the Consulting24 team to start the process.

Payment

 

To start the process, the first payment has to be made. 

03

04

Documents & process 

 

1. Passport copies; ( verification via link);

2. Address, phone numbers, e-mails;

3. We provide POA to register a company on the client's behalf; 

Setting up a starter account and share capital registration

 

To register the company and get crypto authorization, first needs to open a starter account for the company in SEB, and 31,250€ needs to be deposited for the share capital registration. 

05

06

Company registration and crypto activity authorization

 

The next step is company registration, preparation for all necessary documents, and AML person recruitment for the crypto authorization approval.

Oce approved, you can start opening different payment gateways and accounts for processing.

Lithuania Crypto Regulation & MiCa

Initiating a cryptocurrency venture in Lithuania is streamlined through the establishment of a UAB, a type of limited liability company. This framework is optimal for budding crypto exchanges or custodial services, requiring an initial capital of €125,000. An upfront payment of €31,250 is mandated, while the remaining 75% (€93,750) can be infused over the subsequent year.

We value diverse leadership and are open to directors from any country. However, to maintain the integrity of our crypto environment, it's imperative that the Anti-Money Laundering (AML) officer is based in Lithuania.

Lithuania's approach to granting a Crypto Exchange License is both progressive and economical. Notably, there's a swift establishment timeline ranging between 30-60 days. Additionally, having a local bank account is essential, and our Consulting24 team is primed to assist you in this regard. Lithuania's proactive stance makes it a top destination for cryptocurrency endeavors.
 

MiCA regulation
Incorporating the MiCA Directive's pivotal elements, Lithuania ensures that the crypto license is passportable within the EU. This means businesses licensed in Lithuania can operate seamlessly across all EU member states, amplifying the country's appeal as a prime hub for cryptocurrency endeavors. 

Possible Activities for a VASP Located in Lithuania

Custodial Service

Securely store clients' digital assets in custodial wallets. Essentially, the licensee can generate a digital wallet for a client and retain control over its private keys continuously.

Crypto to Fiat, Fiat to Crypto

Exchanges between digital currencies and conventional fiat currencies. This enables clients to trade utility tokens like Bitcoin, Ethereum, BNB, and more, against established currencies like the USD and Euro.

Crypto to Crypto

This allows trading of utility tokens and coins, including but not limited to Bitcoin, Ethereum, BNB, and more.

ICO/IDO/IEO

Carry out ICOs, IEOs, and IDOs, offering avenues to introduce its cryptocurrency.

Staking as Service

Leverage staking for passive cryptocurrency income. This approach, akin to bank deposits, entails committing cryptocurrencies to bolster a network's operations. Stakers often receive additional coins as rewards, allowing asset growth while retaining their digital holdings.

Mint & Trade NFTs

Establish an NFT trading platform or delve into NFT creation, paving the way for a distinctive digital asset marketplace.

Why Consulting24?

 

500+ crypto licenses acquired

 

Consulting24 Strongest in Estonia Award 2023. Top crypto consultants.

Team

Consulting24 CEO, Mardo Soo, leading our team to success.

Mardo Soo

  • Mardo Soo LinkedIn, Consulting24.co

"Our experience consistently highlights that Lithuania's licenses stand unparalleled in the crypto industry. It's the preferred choice for forward-thinking enterprises aiming for growth and compliance."

Consulting24 Founder, Lena Elvbakken, leading our team to success.

Lena Elvbakken

  • Lena Elvbakken LinkedIn, Consulting24.co

"Lithuania's licenses have proven to be the gold standard, especially with a swift setup time of 30-60 days. This efficiency, coupled with robust regulations, makes it the top choice for visionary enterprises.

"

team

Our Advisory Projects

CONTACT US

Our Offices 

Consulting24 in Estonia

Address: Poordi 3, Tallinn, Estonia

WhatsApp: +372 5815 5779

Consulting24 in Dubai

Address: School Street 6, Dubai, UAE

WhatsApp: +971 50872 9118

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