Costumers
Navigating Crypto Tax Regulations: A Guide by Consulting24
For those eyeing a foothold in the crypto domain, navigating the cryptocurrency and regulation landscape of Lithuania, Estonia, and Dubai is vital. Each locale presents a distinct blend of legislative specifics and entrepreneurial opportunities:
🔹 Lithuania:
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Efficient crypto licensing: A passport to the broader European market.
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Capital requirements: 125,000€ upfront, 31,250€ (25%) immediately, balance over a year.
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Operational freedom: Virtual office and universal directorship permitted.
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Minimal regulatory hurdles: No mandated audits, yet an AML officer is a must.
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Prompt process: Licensing completion within 30-60 days.
🔹 Estonia:
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Fiscal allure: Beneficial 0% corporate tax; no enforced dividend handouts.
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Licensing overhead: Set at 10,000€.
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Regulatory essentials: Local AML representative and director required.
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Compliance check: Mandatory periodic audits.
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For crypto trading platforms: A hefty capital of 250,000€ is non-negotiable.
🔹 Dubai:
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Recognized global financial hub: Apt for robust crypto initiatives.
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Tax benefits: Zero taxation on crypto transactions and profits.
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License fees: Spanning from 9,700€ to 24,250€; supervision fee equals half of the primary fee.
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Ideal for high-end projects: Due to the substantial costs involved.
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Strong foundation: A 194,000€ capital reserve is obligatory for crypto exchanges.
In conclusion, mastering the cryptocurrency and regulation nuances of Lithuania, Estonia, and Dubai is pivotal for attaining unparalleled success in the crypto world. Adapting strategies to these specific regions ensures a prosperous journey.
Lithuania, Estonia, Dubai: A Comparative Study on Crypto Regulations
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 |
Consulting24 Team
Mardo Soo - CEO
As the chief executive of Consulting24, Mardo stands out with his exceptional expertise in blockchain consulting. His role isn't limited to merely acquiring clients; he excels in building and growing long-term business relationships. His keen insight into the complex nuances of blockchain distinguishes his leadership, solidifying his reputation as a unique force in the industry.
Lena Elvbakken - Founder
As a key architect of Consulting24, Lena has etched a prominent mark in the realm of cryptocurrency and regulation. Her profound insights equip her to guide innovators seamlessly through the intricacies of establishing exchanges and rolling out tokens, especially in crypto-approving environments like Estonia and Lithuania. Lena's pivotal role in simplifying the complexities of crypto exchange launches amplifies Consulting24's influence in driving the global rise of cryptocurrency.
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