Consulting24- Estonia Company Formation
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 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.
Additionally, the digital movement has also attracted many of the locals to the crypto industry.It presents opportunities for cryptocurrencies to do business in the country, thus providing further incentive to launch their operations in Estonia.
Consulting24’s role in Estonia company formation
Consulting24's founders have established the need for consultancy services tailored to help local and international companies launch their operations in the country. One of the significant advantages that this consultancy service provides to crypto companies is to provide regulatory guidance. The consulting firm has a robust team of individuals with a deep understanding of the regulatory and licensing procedures that companies need to successfully achieve all the requirements that they need before being allowed to operate in Estonia.
Among the services that the consultancy service provides to crypto companies include;
Since the consultancy service has a good understanding of the processes involved in the registration process, it is well-positioned to guide companies to secure the licenses they require to start operating. Crypto companies are required by law to obtain two main licenses, and they are a license to provide exchange services and also a license for a crypto wallet.
Fortunately, securing the licenses is not a costly affair, as one would expect. It costs about 40,000 Euros to acquire the two licenses and including the documentation required for risk appetite and internal AML procedures. You will be glad to know that the country does not charge VAT on trading activities, nor will you be required to deposit the license application process.
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.
Providing relocation analysis
Consulting24 does not just provide services that facilitate Estonia company formation. It also has a business suite for foreign companies relocating to Estonia. As noted earlier, Estonia is rapidly becoming one of the most attractive markets for cryptocurrency companies thanks to favorable regulations and ease of entry.
Sometimes companies may decide to shift their base of operation from a country with higher taxes and stringent regulations to a country where they will enjoy more freedom for operations and lower taxes while still running their business within legal bounds. The relocation services include the provision of cost analysis for companies that plan to move to Estonia.
The type of companies that go for Consulting24’s services
Although the consultancy firm mainly provides its services to companies in the crypto segment, it may have some differences. However, thanks to the way it delivers its services and the critical areas of focus, its services appeal to different types of companies that aim to tap into growth through the crypto market.
Cryptocurrency exchanges are the most common types of businesses that subscribe to Consulting24’s Estonia company formation guidelines or services. Exchanges are more likely to get customers if they run their operations from a country where they are regulated. It helps them to ensure to their customers that their services are legitimate since they exist under a regulatory jurisdiction. It is also about tapping into operational efficiencies such as lower cost and less friction of entry into the market. That is why Estonia is currently attractive to exchanges because it provides such opportunities.
Cryptocurrency mining operations have also been finding Estonia attractive, particularly because it has favorable guidelines. More importantly, setting up a crypto mining operation can be expensive. Some countries make it more robust for operators of crypto mines by charging hefty taxes, expensive electricity rates, and costly licensing. These are not issues they face in
Estonia, and thus many have ended up being Consulting24's clients.
Blockchain companies that help develop lockchain-based systems for existing companies across the world are currently in high demand. They are entering the Estonian market to provide their services in the country and other countries. Estonia happens to be an attractive place for Blockchain companies. It is because locals, including corporations, have embraced the technology and are among the easiest countries to operate out of. They can quickly secure licenses to operate in the country, and the cost of the entire process is significantly lower than what they would have to pay in many other counties.
Rävala puiestee 19, Tallinn, 10143, Estonia
WhatsApp : +372 5815 5779