Heaven Invest OÜ operation license FIU000276
Service of trust funds and companies
Estonia enjoys a reputation for being the most advanced nation in terms of technology when it comes to government. Some renowned magazines, like Wired, have also recognized the country as “the most advanced digital society in the world.”
During recent times, the country’s legislative body, department of justice, education, healthcare, banking and those for voting and even taxes and policing, were digitized into a single platform under the e-Estonia project.
Furthermore, the country is the first to introduce the e-Residency concept to the world. E-residency allows non-Estonian citizens to apply for citizenship with the Estonian government. It allows for them to be issued a digital identity card backed by the country’s government. Estonia company registration is made easy by e-residency card.
During the last decade, Estonia has transformed into a technology hub, wherein dozens of successful startups have flourished.
One of the main reasons for this is the simple and reasonable tax environment. Tech entrepreneurs are charged zero tax on retained profits whereas a 20% tax is charged on the distributed ones. There is an ease of compliance as almost every filing can be done electronically using the e-residency card.
When it comes to Blockchain, Estonia has the most affordable and simple licensing process for setting up your cryptocurrency exchange and be a cryptocurrency wallet service provider. Even while you are reading this piece, more than around 2000 licenses would already have been issued.
New company registration and Estonia crypto license will cost 15 000EUR.
Yes, no additional capitalization requirements!
Also, due to low set-up costs and access to a broad range of payment options, Estonian companies are often the first choice for e-commerce and internet entrepreneurs. Other popular jurisdictions like Malta and Switzerland you are looking 100 000 - 200 000€ total setup fees.
1. Crypto is regulated - companies can acquire virtual wallet and exchange services license;
2. Licenses don't require a deposit;
3. No VAT added on trading;
4. Licenses allow trade all utility tokens, issue your own coin, operate wallets, exchanges;
5. Licenses allow to onboard clients globally.
6. Licenses total cost 10,000 €, including internal AML procedures and risk appetite documents.
7. Licenses application processing time is 30 days.
8. 0% corporate tax - Estonia has selected as number one ecosystem for startups
9. E-residency - Government powered tool to access government services and business registry 24/7, manage your business online.
Corporate income tax -
(none distribute profit)
Private person income tax -
Social security tax -
Unemployment tax -
NB! Crypto is not subject of VAT
WHY ESTONIA CRYPTO ECOSYSTEM
ESTONIA CRYPTO EXCHANGE LICENSE
Companies that deal with digital currencies can apply for 2 different activity licenses:
1. Virtual wallet operating license:
It allows providing virtual currency (hot and cold) wallet service in the framework of which the company generates keys for Clients or keeps Clients’ encrypted keys, which can be used for the purpose of keeping, storing and transferring virtual currencies.
2. Cryptocurrency exchange operating license:
It allows exchanging fiat to crypto, crypto to fiat, crypto to crypto.
The operating licenses are issued by the Estonian Financial Intelligence Unit (FIU), which is an independent structural unit of the Estonian Police and Border Guard Board.
When applied together, two applications must be submitted and two different licenses are issued.
The main acts that regulate the activity can be found here.
The company is qualified as a Financial Institution but has no special reporting requirements to tax authorities. The accounting must be done like for any other company. No special reporting to the regulator is needed, but FIU can always make precepts and inquiries about the company’s activities. You may find Financial Intelligence Unit’s advisory guidelines here.
Certificate of the register of convictions (a.k.a. criminal record) for all related persons (shareholders, board members, ultimate beneficiary owners and responsible person). A criminal record has to be original, apostilled and submitted to Estonia to our office.
Passport copies of all above-mentioned persons
In some cases officials have the right to ask for additional information:
CV-s of related persons
Description of planned activities
BUSINESS FOR SALE
E-Residency, powered by the Republic of Estonia, is a concept of a digital nation for global citizens with a host of attendant benefits. A Government of Estonia issued digital ID is made available to anyone in the world. It gives the recipients of the ID the freedom to start and manage a global business in a trusted EU environment.
The entire registration process of the business can be made online, and documents and contracts can be signed digitally. Business banking and online payment providers can be accessed to accept payments from clients worldwide.
We will help you to become e-resident.
Are you thinking of relocation to Estonia or setting up an office in Tallinn?
We can make a full report that will give you the full cost of business relocation to Estonia.
Relocation Cost Analysis:
*Workforce permits for existing employees//family
*Salary analysis within the industry
*Business set-up, licensing
*Banking account set-up
*Authorised Contact person
*Relocation Support Team
CRYPTO BANKING ACCOUNT
We will provide 3 crypto bank account solutions where we have opened over 15 accounts for our clients. With one EMI in the UK, we will connect you directly with the owner, then you can discuss your deal.
We will also share a list of 40+ institutions (banks and PSP) globally that you can check. More likely they can onboard crypto projects.
Onboarding is case-by-case.
3. Common chat with EMI owner + 2 link where we have opened over 15 bank accounts
4. Share an excel sheet with all the data.
PRICE AND PROCESS
CRYPTOCURRENCY COMPANY REGISTRATION
€ 2 500
Authorized contact person
Exchange license Wallet license
€ 12 000
Total set-up fee
€ 15 000
PROCESS AND TIMELINE
1. Company registration (private limited company, LTD, in Estonian - OÜ) with a paid share capital of minimum 12 000;
At this stage, Is needed name, address, e-mail address, phone number, passport copy.
The registration process takes up to 48h.
2. Apply for licenses:
i) Virtual wallet operating license;
ii) Exchange license (crypto to crypto, crypto to fiat, fiat to crypto);
At this stage I would need police clearance certificate ( according to the passport), in English, notarized and verified by apostille;
Project ´s website address (if any), your CV, country of birth.
3. Company shares transfer requires one day trip to Tallinn (Estonia) to sign the documents at the notary or via Power of Attorney.
ESTONIA vs MALTA
WE ARE HERE
Rävala puiestee 19, Tallinn, 10143, Estonia
Phone : +372 5815 5779
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