How to open Crypto Business in Estonia
Being famous as one of the most secure sites in the world to invest in cryptocurrency, Estonia encourages Crypto Consulting Services and investors to set up companies followed by a registration and taxation system. Our company is a place where businessmen can get professional advice to open a company in Estonia.
Estonia is proved as an enthusiastic market for financial technologies and virtual coins. Moreover, the Estonian government is also very supportive of cryptocurrency initiatives. Now, Estonia is the home of a specialized workforce and the latest generation technology.
The term cryptocurrency means a digital asset which is created as an exchange means to make transactions more secure. It also controls additional currency units generation.
First of all, finalize a company name and check its availability. Then register your company at the Commercial register. It must also be registered as a VAT payer.
If you are planning to open a company in Estonia, then here are the different types of crypto licenses:
(i) The cryptocurrency wallet service provider license
(ii) the cryptocurrency exchange service provider license
The first type of license is issued for the companies which offer e-wallets whereas, another type of license is to give exchange services to clients who show interest in trading cryptocurrencies against money. Some companies like digital token mining activities do not need any special license. Moreover, these companies also handle the installation of ATMs for virtual money.
The application to obtain a crypto license should be filled with the Financial Supervisory Authority. This application must be filled using the Financial Intelligence Unit. Attach Certificate of incorporation of a company with it. Then the Intelligence Unit will take approx 30 days to review the applications. Any Estonian company can't start work until the license is granted.
Around two weeks are required to get the cryptocurrency license in Estonia. Also note, operations must be started within 6 months since the license was issued.
As Estonia is one of the best countries in Europe and providing Crypto Consulting Services to the world in technological form, now it is permitting international clients to open companies remotely to access government services from a distance.
Businessmen should contact the local business register to set up their own cryptocurrency business in Estonia. Important proofs to submit are:
An identity proof
A copy of the bank account
Articles of association
Wallet technologies which are very important for bitcoin and other cryptocurrencies storage
The record so that there can be transparency in public information
Mining which gives you a technological infrastructure for transactions of cryptocurrency.
Cryptocurrency support to help employers in hiring.
There are no strict conditions for employers to establish a cryptocurrency company. No special license is required to apply in this sector.