Consulting24- Estonia Company Formation
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Consulting24 is an Estonia company specializing in the provision of services in the crypto and blockchain space for individuals and companies that want to start a crypto business in the country. It aims to provide relevant information, guidance, and services that assist in Estonia's company formation in digital space for local entrepreneurs and international ones looking to
launch their services in the country.
Setting up a company in any country can be a hassle for any entrepreneur, especially if they do not know how to navigate the complexities of the local regulations and licensing processes. Going at it alone presents significant challenges, and it will undoubtedly slow you down, thus potentially keeping you from taking advantage of potential opportunities in the market. Consultancy services help a company go through the necessary processes, thus improving the company to bypass most friction to entry in the target market.
Why crypto companies are interested in Estonia as a base of operations
Estonia happens to be one of the most crypto-friendly countries in Europe and the world in general. The country is focused on digitization, and lawmakers in the state established that cryptocurrencies and blockchain represent an excellent avenue through which the country can achieve fast-paced growth. It has thus embraced cryptocurrencies but in a regulated manner designed to prevent illegal activities such as money laundering.
Crypto Exchange License in Estonia​
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.
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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.
Explore if you wanna know about FCIS Lithuania crypto authorisation or cryptocurrency license in Lithuania.
Crypto Exchange License Covers​
The cryptocurrency license in Estonia enables a crypto business to engage in a wide range of activities, including:
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Token issuance
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Exchange services
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Wallet services
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Initial Exchange Offerings (IEOs)
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Over the Counter Services (OTCs)
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Selling of bitcoin through credit/debit card and bank transfers
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Trading with utility tokens
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Conducting crypto-crypto, fiat-crypto, and crypto-fiat transactions
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Buying and selling NFTs
Crypto license cost
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3500€ - company registration, authorized person 1-year fee, and notary,
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1500€ - banking introduction and registration of share capital to 100 000€;
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5000€ - AML/CTF documents;
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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 services:
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Hire local director - recruitment fee 4000€
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Hire AML - recruitment fee 4000€;
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AML - min monthly cost 2500€ ( AML can take max 1 company by law)
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Local director - min monthly cost 2500€ ( director can take max 2 companies by law)
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Office: min 600€/month
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Outsourcing auditor - 4000€ ( monthly & yearly audit required )
Crypto companies applying for the two licenses are also not subjected to any corporate tax. The application process also takes just about 60 days. The consultancy service also helps the applicants to navigate the tax requirements.
Estonia also issues virtual wallets licenses. The issuance of these types of licenses is overall aimed at ensuring that the companies that operate their cryptocurrency businesses in the country will adhere to the framework put in place to protect investors. It provides that they take the necessary security measures for safe and secure cryptocurrency storage.
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If you wanna learn more and compare Estonia license with Lithuania crypto license requirement, check here.
Our Clients
About us
Here at Consulting24, our track record speaks for itself. With over 500 licenses successfully completed and more than 50 face-to-face meetings with regulators, we have established ourselves as experts in the field. When it comes to starting your business in Estonia, our experience and proven results ensure that you receive the highest level of guidance and support. Trust in our expertise to navigate the complexities of license acquisition and regulatory compliance, setting you on the path to success.
