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Your path to obtaining a cryptocurrency license in Estonia.

  • Procedure for Establishing a Corporate Entity

  • Guidance in Setting up a Bank Account

  • Compilation of AML/CTF Compliance Documents

  • Assistance in Filing VASP License Application

  • Inclusive of Government and Notary Charges

  • Cumulative Cost: €25,000

Image by Julius Jansson

Our Clients 

Why Estonia?

Estonia's cryptocurrency license is an attractive prospect for several compelling reasons. Here are a few crucial factors that give it an edge:

  • Tax Advantage: Estonia is one of the very few countries offering a 0% corporate tax structure, which is a significant draw for businesses globally.

  • Prime EU Location: Being situated in the European Union, Estonia provides easy access to a vast and diverse market, opening doors for extensive growth opportunities.

  • Robust Regulatory Framework: Estonia's well-defined crypto laws ensure that businesses operate within a secure, transparent, and regulated environment, thus minimizing legal and financial risks.

  • Pro-Business Climate: Estonia is widely recognized for its forward-thinking, innovative, and business-friendly policies, which greatly foster entrepreneurial initiatives in the crypto space.

These combined factors result in a fertile ground for the burgeoning of crypto enterprises, all within a regulatory compliant framework. The unhindered entry into European markets paired with Estonia's conducive business climate creates an enticing opportunity for innovators desiring to establish their niche in the cryptocurrency industry.

Cryptocurrency License Estonia

cryptocurrency license in estonia

Estonia provides a holistic cryptocurrency license termed as the "Virtual Asset Service Provider," which covers an extensive array of crypto services:

Crypto Wallet and Custody Solutions: This license empowers service providers to generate and administer cryptographic keys on behalf of their clients. These keys play an indispensable role in the secure handling, storage, and transmission of digital currencies.

Crypto Exchange Services: This segment of the license ensures smooth operations for transactions involving traditional fiat and digital currencies. It aids in the seamless switch from regular money to digital assets and vice versa. Furthermore, it simplifies trades across various cryptocurrencies, making the process of trading one digital currency for another more convenient.

Cryptocurrency License in Estonia

  • Phase 1: €3,500 - This outlay includes the inception of the company, the yearly fee for an approved representative, and related notary costs.

  • Phase 2: €1,500 -  Establishment of a bank account and the registration of share capital. For custody services, the share capital is set at €100,000, while for exchange services, it amounts to €250,000.

  • Phase 3: €5,000 - This amount is allocated to the preparation and submission of Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) compliance documents.

  • Phase 4: €15,000 - This funding covers a €5,000 license application expense and €10,000 in administrative charges. This crucial stage encompasses crafting a sustainable business model, compiling AML paperwork, strategizing risk management tactics, and defining the tasks of board members.

Crypto Wallet and Custodian Services
Crypto Exchange
Setup time
~6 months
~6 months
Monthly and Yearly
Monthly and Yearly
Government Fee
10 000€
10 000€
Local AML
Local Director
Bank Account
Share Capital
100 000€
250 000€

Supplemental Services:

1: €3,500 - A fee for recruiting a local director. It's a legal requirement to have one director for every two companies, implying a minimum monthly cost of €2,500.

2: €3,500 - The cost for employing an Anti-Money Laundering (AML) officer. Each company is legally obligated to have an AML officer, necessitating a minimum monthly charge of €2,500.

3: Starting from €600 - The estimated monthly cost for establishing and maintaining a corporate office space.

4: €3,500 - This fee caters to the engagement of an external auditor who will conduct financial audits and ensure compliance with regulatory standards.

A Deep Dive into Estonia's VASP Services

Crypto to Crypto, Crypto to Fiat, Fiat to Crypto

Enhancing Utility Token Exchanges: Facilitating Seamless Transactions from Bitcoin, Ethereum, BNB, and Other Cryptocurrencies into USD and Euro for Clients.


Leveraging ICOs, IEOs, and IDOs: Propel Market Dynamics with the Launch of Your Distinctive Utility Tokens.


Optimizing Earning Opportunities: Unearth New Revenue Streams with Strategic Cryptocurrency Asset Management.

Branded Debit Card

Facilitating Seamless Transactions with Customized Debit Cards: Assure Easy Swaps of Key Cryptocurrencies like Bitcoin, Ethereum, BNB, and More.

Mint & Trade NFTs

Leading the Way in NFT Creation and Exchange: Tailored Platforms for Your Digital Assets. Sculpt Your Own Unique Marketplace with State-of-the-Art NFT Technologies.

Custodial Service

Providing Trustworthy Custodial Wallet Services: Protecting Client's Digital Assets through VASP Licensing. Retain Complete Control Over Private Keys for Optimal Security and Sovereignty.

Image by Jaanus Jagomägi

Registration Process

Step 1: Commence the Know-Your-Customer (KYC) and Source-of-Funds (SOF) verification.

Step 2: Finalize necessary contract stipulations.

Step 3: Begin the incorporation process to establish a Private Limited Company (LTD or OÜ in Estonian), a task achievable within 48 hours.

Step 4: Facilitate the company's share transfer via a notarized Power of Attorney (POA). In light of the ongoing COVID-19 situation, remote transfers are available, eliminating the need for physical presence.

Step 5: After the transfer, initiate the creation of a bank or PSP account in an EEA country serving Estonia, or with a service provider operating a branch in Estonia.

Step 6: Proceed with the registration of share capital - €100,000 for wallet services and €250,000 for exchange functions.

Step 7: Launch a fully operational office in Tallinn.

Step 8: Hire a qualified local director.

Step 9: Assign an adept AML officer.

Step 10: Submit the application to obtain a Virtual Currency Service Provider License.

Estonia vs. Lithuania vs. Dubai: A Comprehensive Crypto License Analysis.

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€
May be required by VARA
Not required
Monthly and yearly are needed
Can be virtual
AML (Anti-Money Laundry Officer)
Can be any nationality
Local needed
Local needed
AML monthly salary
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
25% now, 75% within a year.
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 of Consulting24, at the forefront of cryptocurrency license in Estonia
Mardo Soo
  • LinkedIn

"As the founder of Consulting24, my aspiration is to mentor entrepreneurs venturing into Estonia's robust crypto ecosystem. We specialize in decoding complex tasks, transforming expenditures into substantial investments. Our relentless promise to make the licensing process fluid highlights our unique role in this global paradigm shift."

Lena Elvbakken, Founder  of Consulting24, a leader in cryptocurrency license in Estonia
Lena Elvbakken
  • LinkedIn

"As the bedrock of Consulting24, we aim to usher entrepreneurs venturing into Estonia's lively crypto industry. Our forte lies in simplifying intricate procedures, transmuting costs into worthwhile investments. Our resolute dedication to streamlining the licensing pathway underscores our distinctive position in guiding the global transformative current."

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