Our Clients
Why Estonia?
Estonia's crypto license offers a distinct edge with its no corporate tax structure, ideal EU location, and crystal-clear crypto laws. This setup encourages the evolution of crypto enterprises, promoting expansion and maintaining regulatory adherence.
Estonia Crypto License - Virtual Asset Service Provider
Estonia grants a unified, extensive crypto license, termed as the "Virtual Asset Service Provider." This license includes a broad spectrum of crypto services:
Virtual Wallet and Custodian Services: This component of the license enables service providers to generate and oversee keys for clients. These keys are employed for the storage, protection, and transfer of digital currencies.
Crypto Exchange Services: The license allows the smooth execution of transactions between fiat and digital currencies, enabling the conversion from traditional money into cryptocurrencies, and vice versa. Additionally, it facilitates transactions between various digital currencies, simplifying the process of trading one type of cryptocurrency for another.
Exploring Estonia VASP Services in Depth
Crypto to Crypto, Crypto to Fiat, Fiat to Crypto
Utility Token Exchange: Facilitating Seamless Transactions of Bitcoin, Ethereum, BNB, and Others into USD and Euro for Customers.
ICO/IEO/IDO
Optimizing ICOs, IEOs, and IDOs: Propel Market Evolution with Your Unique Utility Token Debut.
Staking
Boost Revenue Opportunities: Discover New Earning Pathways with Savvy Crypto Asset Management.
Branded Debit Card
Leverage Branded Debit Cards for Smooth Transactions with Prominent Cryptocurrencies like Bitcoin, Ethereum, BNB, and Beyond.
Mint & Trade NFTs
Empowering NFT Generation and Trade: Crafting Bespoke Platforms for Digital Assets. Shape Your Distinctive Marketplace with Cutting-Edge NFT Functionality.
Custodial Service
Delivering Secure Custodial Wallet Solutions: Safeguarding Client's Digital Assets with VASP Licensing. Retain Full Command Over Private Keys for Superior Security and Autonomy.
Estonia Crypto License
Feature | Crypto Wallet and Custodian Services | Crypto Exchange |
|---|---|---|
Setup time | ~6 months | ~6 months |
Audit | Monthly and Yearly | Monthly and Yearly |
Government Fee | 10 000€ | 10 000€ |
Local AML | Yes | Yes |
Local Director | Yes | Yes |
Bank Account | Yes | Yes |
Share Capital | 100 000€ | 250 000€ |
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€3,500 - For incorporation, annual authorized person's fee, and notary expenses.
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€1,500 - For setting up a bank account and registration of a €100,000 share capital.
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€5,000 - For Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) documentation.
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€5,000 - License application fee, and €10,000 for government charges. This includes drafting a business model, preparing AML and risk management documents, and detailing board member responsibilities.
Total Cost: €25,000.
Additional Services:
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€3,500: Local Director Recruitment. The minimum monthly charge for a local director, as mandated by law, is €2,500 (one director required for every two companies).
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€3,500: AML Officer Recruitment. The law requires at least one AML officer per company, with a minimum monthly cost of €2,500.
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From €600: Office Establishment per month.
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€3,500: Procurement of an External Auditor.
Estonia Crypto License List Registration Process
Step 1: Carry out Know-Your-Customer (KYC) and Source-of-Funds (SOF) procedures
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Step 2: Execute the contractual agreement
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Step 3: Initiate company registration as a Private Limited Entity (LTD or OÜ in Estonian) - Completion possible within 48 hours
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Step 4: Execute company shares transfer via Notary-backed Power of Attorney (POA) - Remote transfers enabled due to COVID-19, negating the need for physical visit
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Step 5: Post-company transfer, initiate the process to open a bank or a PSP account in an EEA nation offering cross-border services in Estonia or with a provider operating a branch in Estonia
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Step 6: Undertake share capital registration - €100,000 for exchange activities, €250,000 for wallet operations
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Step 7: Set up a corporate office in Tallinn
Step 8: Appoint a local director
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Step 9: Assign an AML officer
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Step 10: Lodge the application for acquiring a Virtual Currency Service Provider
Choosing Your Crypto Base: Estonia, Lithuania, or Dubai?
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 |
Our Team
Mardo Soo
Founder
"At Consulting24, our purpose is to lead aspiring entrepreneurs towards the prosperous landscape of Estonia's crypto sector. We transform intricate procedures into streamlined processes and expenditures into value-adding investments. Our commitment to making the licensing journey smooth and uncomplicated signifies our contribution to global change."
Lena Elvbakken
Co-Founder
"As a co-founder of Consulting24, my goal is to demystify the process of starting a crypto business in Estonia. We turn potential challenges into opportunities, paving the way for your successful entrance into Estonia's booming digital sector. We're not just changing businesses; we're changing the industry."