Consulting24 Helping Business Obtain an Estonia Cryptocurrency Licence

Estonia's government is borderless, secure, virtual, and run on a blockchain. It is according to a Forbes article by contributor Philip Salter. The digital haven isn't new to many, primarily entrepreneurs in the cryptocurrency space. There are dozens of reasons why internet and crypto entrepreneurs have opted for Estonia as a destination for registering their cryptocurrency businesses. Chief among them is the low cost of acquiring an Estonia cryptocurrency license, the low processing time for newly registered companies, globally recognized legislation, favorable tax environment, the efficiency, and the reputation of the country E-Residency.

Individuals need to obtain a cryptocurrency license in Estonia to launch a successful
cryptocurrency business in the nation. An Estonia cryptocurrency license for a crypto exchange will hold all enterprises operating services for processing  transactions from Virtual currencies to fiat currencies. For instance, the crypto exchange license will give a business the ability to receive funds and transfer funds from third parties in any form, Bitcoin, or fiat.

Consulting24 is a cryptocurrency consulting company that helps entrepreneurs start
cryptocurrency companies in Estonia
. The firm is among the fastest-growing consultancy companies by volume in the country and has managed to obtain at least 300 crypto licenses in Estonia. Besides helping entrepreneurs set up new businesses in Estonia, the consulting firm also provides ready-made companies for sale.

Features of the Cryptocurrency License in Estonia

Estonia's government has guiding objectives that influence the building and development of startups and businesses. Most of the country's operations are run electronically and online. Before launching a cryptocurrency business in the nation, entrepreneurs need to educate themselves as much as they can about Estonia's business regulation laws and the procedure for obtaining an Estonia crypto license. A cryptocurrency license Estonia covers the following:

Virtual Currency - Virtual Currency Exchange - The license allows a business to process crypto-crypto transactions.

Virtual currency - fiat currency - The license also allows a business to process fiat-crypto or crypto-fiat transactions.

Virtual wallet service - The license finally allows the business to provide hot and cold digital currency wallet services, as well as the generation and storage of user keys.

The cryptocurrency license Estonia will further allow a crypto business to conduct any of the following activities:


  1. Issuance of tokens

  2. Exchange services

  3. Wallet services

  4. Initial Exchange Offerings (IEOs)

  5. Over the Counter Services(OTCs)

  6. Selling of bitcoin through credit/debit card and bank transfers

  7. Trading with utility tokens

  8. Crypto-crypto, fiat-crypto, crypto-fiat transaction

Once an individual company is registered, it qualifies as a financial institution. However, at this point, it usually lacks special reporting requirements for the tax agency. Accounting work for the company takes place just like any other company. Special reporting to the regulator is also unnecessary; however, Estonia's Financial Intelligence Unit can make inquiries and precepts about the corporation's activities.

To learn more about Bitcoin check Buy BitcoinWhat is Bitcoin or What is Crypto

To obtain a cryptocurrency license - Estonia, the following documents are necessary.


  1. Certificate of the Register of Convictions (Criminal records) about all individuals indirect relationship with the company, including board members, shareholders, ultimate beneficiaries owners, and persons responsible for the entity's formation. The criminal conviction certificate has to be original, legitimate, apostilled, and submitted, in this case, to the office of Consulting24 in Estonia.

  2. Passport copies of board members, shareholders, ultimate beneficiaries, and persons responsible for the formation of the entity.

  3. Local director/AML officer

  4. Office registration in Tallinn

  5. Proof of impeccable reputation of the company’s AML compliance officer.

  6. Bank/PSP account in a European Economic Area (EEA) nation provides cross-border services to Estonia.

There are cases where Estonia officials will request additional information such as descriptive documents of the project and Curriculum vitae of the associated persons.

Crypto Banking Account for Businesses looking for Estonia Crypto License

It is a must-have for cryptocurrency businesses to open a bank account before obtaining a cryptocurrency license in Estonia. Consulting24's banking solution helps companies access 3 crypto banking solutions. With these three solutions, the Consultancy firm has been able to open at least 15 bank accounts for clients in the past. The company has ties with over 40 banking institutions and PSPs across the world. Most of which allow crypto projects.

Cost of Obtaining an Estonia Crypto License


    1. The registration of the company costs EUR 2,500.
    2. The authorized Contact person will cost another EUR 500
    3. Virtual currency service provider license will cost EUR 17,000
    4. Anti Money Laundering Officer will cost another EUR 200 - 1200 per month.
    5. Office Equipment will cost EUR 1,500
    6. Office [ EUR 2,000 for 3 months, EUR 3,500 for 6 months and EUR 6,000 for one year ]
    7. This totals to EUR 22,000

Cryptocurrency License Estonia Vs. Cryptocurrency License Malta

The top destination for business registration when it comes to most internet businesses include Malta, Switzerland, and Estonia. This brief review looks at the differences between obtaining a business license in Malta Vs obtaining one in Estonia.

 Variable                                                                 Estonia                                                        Malta

Deposit                                                                EUR 12 000                                              EUR 730 000€

Company registration                                         EUR 3000                                                   EUR 2500
Capital requirement                                          EUR 12 000                                                EUR 720 000
Incorporate                                                             tax 0%                                                           35%
Licenses issue time                                               60days                                                      4-6 months

Licenses cost                                                      EUR 17 000                                                  EUR 12 500

Consulting24 Procedure for Obtaining a Cryptocurrency License in Estonia for Businesses

     A. Signing the Contract
     B. Processing Company share transfer at the notary through the Power of Attorney (POA) -presently, the company is                           accepting remote transfers as a result of the COVID-19 pandemic. Takes about 1 - 2 weeks.
     C. Opening a banking solution for the new company and depositing the share capital. It takes at least 2 - 4 weeks.
     D. Set up of the office
     E. Recruitment of a local director
     F. Transfering of the virtual currency service license and takes a duration of up to 60 days.

Bottom line


Consulting24 provides comprehensive business support and the necessary direction of applying to acquire a crypto license in Estonia. Furthermore, the consulting firm offers a detailed relocation analysis for entrepreneurs that want to relocate to Estonia. The country has already made a name for itself as a digital establishment, and no one wants to be left out.

Contact US

Rävala puiestee 19, Tallinn, 10143, Estonia

Email :

WhatsApp :    +372 5815 5779


Rävala puiestee 19, Tallinn, 10143, Estonia

Email :

Phone :    +372 5815 5779



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