Crypto License Requirements in Estonia
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Company Registration
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Bank Account Setup Guidance
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Prepare Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) Documentation
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Submitting Virtual Asset Service Provider (VASP) License Application
Inclusive of Government and Notary Fees
Total cost: €25,000
NOTE! Lithuania's crypto authorization offers a cheaper and quicker solution, with a 30-60 day process, if Estonia's procedure feels too prolonged or expensive.
Feature | Crypto Wallet and Custodian Services | Crypto Exchange |
|---|---|---|
Setup time | ~6 months | ~6 months |
Audit | Monthly and Yearly | Monthly and Yearly |
Government Fee | 10 000€ | 10 000€ |
Local AML | Yes | Yes |
Local Director | Yes | Yes |
Bank Account | Yes | Yes |
Share Capital | 100 000€ | 250 000€ |
Estonia Crypto License Explained
Estonia offers an extensive "Virtual Asset Service Provider" license, paving the way for a broad spectrum of cryptocurrency operations:
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Cryptocurrency Wallet and Custodial Services: This license grants service providers the ability to generate and control cryptographic keys on behalf of their customers. These keys are critical for the secure storage and transfer of digital currencies.
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Cryptocurrency Exchange Services: This license creates a bridge between traditional fiat money and digital assets. It supports smooth conversions from conventional money to digital currencies, and the other way around. It also simplifies transactions involving different cryptocurrencies, making the exchange of one digital asset for another more straightforward.
Potential Services for Deployment
Crypto to Crypto, Crypto to Fiat, Fiat to Crypto
Create a dynamic marketplace for your users to trade top cryptocurrencies like Bitcoin, Ethereum, BNB and more. Empower them with an easy, secure, and seamless crypto trading experience.
ICO/IEO/IDO
Launch your own token or facilitating token launches for your clients through ICOs, IDOs, and IEOs. Enter the market with a bang and fuel the crypto revolution.
Staking
Provide an added source of income to your clients by introducing them to profitable staking services.
Branded Debit Card
With your own branded debit card, allow your clients to make payments effortlessly using major cryptocurrencies like Bitcoin and Ethereum.
Mint & Trade NFTs
Launch your own NFT trading platform, providing a space for users to buy, sell, and mint their unique digital assets.
Custodial Service
Offer your clients the security and control of managing their own digital assets with a self-custody wallet solution. Their keys, their control.
If you're intrigued and want to explore more about the world of crypto consultancy, then we've got just the resource for you. Check out our comprehensive guide here for deeper insights and assistance. Don't miss this chance to unlock your crypto potential.
Crypto License Estonia Comparison with Lithuania & Dubai
Feature | Dubai | Lithuania | Estonia |
|---|---|---|---|
Cost | 20 000€ | 20 000€ | 25 000€ |
License Type & Government fee | 1. 9,700€ - Advisory Services & VA Transfer and Settlement Services | 1. Cryptocurrency exchange license
2. Crypto wallet and custodian services license
| 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 | 10 000€ | |
Audit | May be required by VARA | Not required | Monthly and yearly are needed |
Office | Required | Can be virtual | Required |
AML (Anti-Money Laundry Officer) | Can be any nationality | Local needed | Local needed |
AML monthly salary | 5000€ | Starting from 1200€ | Starting from 2000€ |
Local director | Can be any nationality | Can be any nationality | Can be of any nationality, but have to live in Estonia |
Share capital terms | Immidiately | 25% now, 75% within a year.
| Immediately |
Required share capital | 24,250€ (Advisory Services) - 194,000€ (Exchange Services)
| 125 000€ | 100 000€ - Crypto wallet and custodian services license.
250000€ - Cryptocurrency exchange license |
Our Team
Mardo Soo - CEO
As Consulting24's CEO, Mardo exemplifies leadership in the digital currency consulting field. His proficiency not only lies in onboarding clients but also in nurturing long-lasting alliances. His guidance is invaluable in helping clients traverse the complexities of the crypto landscape.
Lena Elvbakken - Founder
Lena, a co-founder of Consulting24, is a seasoned expert in crypto license Estonia's requirements. Her extensive experience in guiding entrepreneurs through the complexities of crypto exchange and token launches is a testament to her expertise. Lena's skillset streamlines the process of establishing cryptocurrency exchanges, marking a significant contribution to Consulting24's influential role in the global crypto revolution.
