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Consulting24: Your partner for launching a Crypto Business in Estonia.

VASP license Estonia
  1. Business Registration

  2. VASP License Processing

  3. Covered State & Notary Charges

  4. AML/CTF Documentation Assistance

  5. Bank Account Initiation

25 000 €

Image by Ilya Orehov

Clients 

  • Virtual wallet service:

These permits for the provision of online currency services which enables the company to generate or keep keys for clients that can be used to keep, store, and transfer virtual currencies.
 

  • Exchange of virtual money against fiat currency:

The License allow parties to transact fiat money to crypto money and crypto money to fiat transactions.
 

  •  Exchanging virtual currency against the virtual currency:

The License allows fiat to crypto money and crypto money to crypto money transactions.

Crypto license requirements:

 

  • Min. Share Capital: 250,000€ for Private Ltd.

  • Shareholders' Information

  • Local Office Requirement

  • Company Activities Specification

  • Bank Account Setup

  • Local Director Necessity

  • Local AML Compliance

  • Monthly Auditor Services

Image by  Crypto business in Estonia

Fees Breakdown:
 

  • €3500: Company Registration, Authorized Person 1-Year Fee, Notary

  • €1500: Banking Introduction & Share Capital Registration up to €100,000

  • €5000: AML/CTF Documents

  • €10 000€: License government fee

  • €5,000: License Application (Including Business Model Description, AML Documentation, Risk Management Documentation, Board Member Responsibilities Description)
     

Total: €25,000
 

Optional Extras:

  • €4000: Local Director Hire - Recruitment Fee, Monthly Cost: €2500

  • €4000: AML Hire - Recruitment Fee, Monthly Cost: €2500

  • from €600/month: Office Rental

  • €4000: Outsourcing Auditor (Required Monthly & Yearly)

Process:

  • KYC and SOF Verification

  • Contract Signing

  • Company Registration (Takes up to 48 hours)

  • Remote Company Shares Transfer at Notary via Power of Attorney

  • Bank or PSP Account Opening in an EEA Country Operating in Estonia (Share Capital Registration: €100,000 for exchange activity, €250,000 for wallet activity)

  • Establishing Office in Tallinn

  • Recruitment of Local Director and AML Officer

  • Application for Virtual Currency Service Provider License

Cryptocurrency License Overview: Comparing Dubai, Lithuania, and Estonia

Feature
Estonia
Dubai
Lithuania
Total Price
25,000€
20,000€
20,000€
License type and government fee
10,000€ 1. Cryptocurrency exchange license 2. Crypto wallet and custodian services license
1. 9,700€ - Advisory Services & VA Transfer and Settlement Services
1. Cryptocurrency exchange license 2. Crypto wallet and custodian services license
2. 24,250€ - Broker-Dealer, Custody, Exchange, Lending and Borrowing & VA Management and Investment Services
No additional fee
Required share capital
250,000€ - Cryptocurrency exchange license 100,000€ - Crypto wallet and custodian services license.
24,250€ (Advisory Services) - 194,000€ (Exchange Services)
125,000€
Share capital payment
Immediately
Immidiately
25% to start (31,250€), 75% within a year.
Renewal fee
None
50% of Government fee
None
Supervision fee
None
20,000€ - 50,000€
None
Audit
Both monthly and yearly audits are necessary
VARA may mandate its need
Not required
Office
Must have
Must have
Virtual
AML (Anti-Money Laundry Officer)
Local
Can be any nationality
Local
AML monthly salary
Starting price point: €1,200
Starting price point: €5,000
Starting price point: €1,200
Local director
Open to all nationalities, but living in Estonia is required.
Any nationality
Any nationality
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