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Cryptocurrency company in Estonia

  1. Company registration
  2. VASP license application

  3. State and notary fees included

  4. AML/CTF documentation

  5. Banking account opening

               25 000 €

 Image of Estonia flag and  Cryptocurrency Company In Estonia

Why Estonia? 

Estonia's welcoming stance on cryptocurrency companies stems from its forward-thinking government, digitized public services, and proactive regulation. The country's approach is geared towards promoting innovation, and cryptocurrencies are no exception. With its flexible and supportive regulatory framework, Estonia has become a nurturing environment for both startups and established businesses in the crypto space.

Leading Cryptocurrency Companies in Estonia.

Numerous cryptocurrency companies have chosen Estonia as their base of operations. They offer an array of services from trading platforms, crypto wallets, blockchain technology development, to cryptocurrency mining. These organizations are contributing to a more decentralized financial system while fostering innovation in the Estonian economy.

 

The Regulatory Environment

Estonia’s Financial Intelligence Unit (FIU) is responsible for regulating cryptocurrency companies. Businesses must obtain two different licenses to operate: a virtual currency exchange license and a virtual currency wallet service provider license. This transparent and efficient regulatory process fosters trust, ensuring companies can operate within a safe, legal framework.

Our Clients 

We offer our clients a crypto-currency service provider license offered by the Estonia government and covers;
 

  • 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.

Cryptocurrency license requirements

 

  • A minimum of 250 000 euros share capital for private limited companies;

  • Details of the company shareholders;

  • Company must have local office;

  • Specification of the company activities;

  • Bank account;

  • Local director;

  • Local AML; 

  • Monthly auditor; 

 Image of desk and Cryptocurrency Company In Estonia

Cost

  • 3500€ - company registration, authorized person 1-year fee, and notary,

  • 1500€ - banking introduction and registration of share capital to 100 000€;

  • 5000€ - AML/CTF documents; 

  • 15 000€-  Application for the license 5000€, license application government fee 10000€; ( business model description, aml documentation, risk management documentation, board member responsibilities description)

  • Total: 25000€

    Extra if needed:

  • Hire local director - recruitment fee 4000€

  • Hire AML - recruitment fee 4000€;

  • AML - min monthly cost 2500€ ( AML can take max 1 company by law)

  • Local director - min monthly cost 2500€ ( director can take max 2 companies by law)

  • Office: min 600€/month

  • Outsourcing auditor - 4000€ ( monthly & yearly audit required )

Process:

  • KYC ( Know-your-costumer) and SOF ( Source-of-Funds);

  • Sign the contract;

  • Company registration (private limited company, LTD, in Estonian - OÜ); The registration process takes up to 48h; -

  • Company shares transfer at the notary via Power of Attorney (POA) - transfer of shares and company remotely (no visit required). The only remote transfer is accepted for the time being due to COVID-19 outbreak; 

  • After company transfer, the client opens a bank account/PSP account in an EEA country that is providing cross-border services in Estonia or which provider has established a branch in Estonia; Registration of share capital: exchange activity 100 000€, wallet activity 250 000€ ;

  • Setting up an office in Tallinn

  • Hire local director

  • Hire AML

  • Virtual currency service provide license application

Looking for more option?

 

At Consulting24, we provide top-tier crypto consulting services. Leveraging our deep industry knowledge and vast experience, we guide you through the regulatory landscape, helping you to secure your crypto licenses with ease.

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Documents required for licensing
 

  • Criminal records certification.

  • Passport copies for the company directors

  • Local director/AML officer

  • Registered office address in Estonia

  • A bank account. 

Opening a bank account
 

Opening a bank account is must-have. We will help with that. This is included.

 

The bank accounts enable the company to monitor and manage their daily activities while maintaining a reasonable cost.


e-Residency ID in Estonia

Registration of a company in Estonia requires e-Residency compliance. It provides access to many e-services that are accessible to Estonians.


Where not all the company members are Residents of Estonia, the applications will not be approved until all the members acquire the e-Residency. 


To acquire an e-Residency, you are required to visit our official e-Residency application then make an application by inputting your personal information including all the details. It would take between 3 to 4 weeks before the applications can be completed.
 

If you're eager to learn more or explore the intricacies of obtaining a crypto license in Lithuania, your journey can start with us. Visit our detailed guide at Consulting24 to unravel the possibilities.

Born from a shared vision and deep understanding of the transformative power of blockchain and cryptocurrencies, we created Consulting24. Our role as devoted cryptocurrency consultants is to unravel the intricacies of the digital asset sphere.

Our main goal as cryptocurrency consultants is to simplify the often complex landscape of virtual assets. We equip businesses with an easy-to-follow roadmap to weave this technology into their operational matrix, whether it pertains to the adoption of digital currencies, token issuance, or NFT launches.

Mardo Soo, CEO of Consulting24, top, top Cryptocurrency Company In Estonia
CEO - Mardo Soo 
  • LinkedIn

Consulting with us
 

We take care of the entire company start-up processes for our clients such as staff recruitments, office set-up, local director recruitments, workforce permit processing, among other procedures.


The entire processes are conducted electronically and without the need for middlemen to attain compliance. Most things shall be done online while also fulfilling the local requirements, such as statutory compliance, accountancy services, and banking. 


There are no hidden costs in operating businesses around the country. You can freely outsource services you may need by entering contracts and terminating the same when you need to.

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