Crypto License in Estonia
Estonia extends a comprehensive "Virtual Asset Service Provider" license, encompassing numerous cryptocurrency operations:
Digital Wallet and Custodial Services: This license equips service providers with the capabilities to generate and control cryptographic keys for their customers. These keys are fundamental to the safe storage and transaction of digital currencies.
Cryptocurrency Exchange Services: This license builds a conduit between traditional fiat money and digital currencies. It smoothens the transition from traditional currencies to digital assets and vice versa.
Moreover, it eases the exchange process of various cryptocurrencies, simplifying the act of trading one digital currency for another.
Crypto License Requirements
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Company Registration Services
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Guidance in Bank Account Establishment
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Preparation of AML and CTF Compliance Documents
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Assistance in Submitting VASP License Application
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Includes Government and Notary Fees
Total Cost: €25,000
Note: If you find the procedure in Estonia lengthy or expensive, consider Lithuania's crypto authorization as a quicker and more cost-effective option, with a 30-60 day processing period.
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€ |
Potential Services for Deployment
Crypto to Crypto, Crypto to Fiat, Fiat to Crypto
Launch a cryptocurrency exchange, allowing your users to seamlessly trade major cryptocurrencies such as Bitcoin, Ethereum, BNB, and beyond, offering a smooth and secure transactional journey.
ICO/IEO/IDO
Release your token or aid your clients in launching their tokens through ICOs, IDOs, and IEOs.
Staking
Open new income avenues for your clients by providing them with profitable staking services.
Branded Debit Card
Offer your clients the advantage of directly spending their Bitcoin, Ethereum and more using your own uniquely branded debit card.
Mint & Trade NFTs
Launch your NFT trading platform for users to buy, sell, and create unique digital assets in the intersection of art and blockchain.
Custodial Service
Provide your clients with the power of a self-custody wallet solution, ensuring they have the security and control to oversee their own digital assets - their keys, their rules.
Crypto License in Estonia Compared 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 |
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Our Clients
Team
Mardo Soo - CEO
In his role as CEO of Consulting24, Mardo is an expert in guiding clients through the process of obtaining a crypto license in Estonia. His comprehensive knowledge extends beyond client onboarding, including building lasting partnerships. Mardo's insights are essential in helping clients navigate the complexities of the Estonian crypto licensing landscape.
Lena Elvbakken - Founder
Lena, as a co-founder of Consulting24, brings a wealth of knowledge on Estonia's crypto license requirements. Her expertise lies in guiding entrepreneurs through the intricacies of crypto exchange launches and token introductions. Her proficient skills simplify the establishment of cryptocurrency exchanges, signifying a pivotal role in Consulting24's contribution to the global crypto transformation.
