Crypto license in Estonia

Liberal economic policy, regulator’s loyalty to cryptocurrencies, and support for blockchain projects have made Estonian jurisdiction one of the most popular in Europe. If you are interested in obtaining an Estonia crypto license, SBSB Fintech Lawyers experts will tell you in detail about the licensing features in this country, help prepare the necessary documents, and obtain official permission for your activities.

Regulation of Estonian Cryptocurrency Industry

Financial market regulation in this jurisdiction is the responsibility of the Estonian Financial Intelligence Unit. Cryptocurrency is legalized in the country, and the activities of crypto companies are legal, like those of any other financial institution working with fiat money. Estonia cryptocurrency laws and regulations aimed at combating money laundering and terrorism financing create a transparent market where both operators and platform users are protected.

According to legislative norms, an organization must obtain a license as a virtual currency service provider license Estonia. Its functionality covers the following types of services:

• cryptocurrency exchange for fiat money and vice versa, as well as exchange exclusively for cryptocurrencies;
• creation of cryptocurrency wallets for online and cold storage of cryptocurrency;
• provision of custodial services.

If you want to enter the European market and then scale your business, SBSB experts recommend choosing crypto-friendly jurisdictions to launch a platform for working with cryptographic online tools.

Benefits of Obtaining Crypto License in Estonia

Many startups want to get an Estonia cryptocurrency exchange license because this jurisdiction has important advantages:

• transparent legislation regulating crypto assets;
• a relatively fast licensing procedure, not exceeding 6 months;
• some of the most favorable tax rates for businesses. attractive conditions for foreign investors;
• the possibility of remote registration with the help of a legal representative;

There is another significant reason why many companies choose this Baltic country for registration and licensing. Since there are no strict requirements for the residency of the organization’s founders, foreigners can own a crypto company. Additionally, a crypto licence Estonia is issued indefinitely without established annual fees for its renewal.

How to Get Crypto Exchange License Estonia

According to Estonia cryptocurrency regulations, a potential licensee must meet the following main requirements:

• open an account in an Estonian bank or in financial institutions of other EEA countries;
• prepare a business plan and company founding documents;
• compile a document package with information about shareholders, founders, ultimate beneficiaries, and, if necessary, a legal representative (passport details, copies of diplomas). Note that everyone must have a good business reputation and no criminal record. Documents in English must be notarized;
• open a physical office in Estonia and obtain a legal address;
• hire local qualified employees;
• pay the share capital ranging from €100,000 to €250,000. The amount depends on the type of activity and services provided by the future organization;
• develop internal policies and implement KYC and AML procedures.

One of the Estonia crypto license requirements is that the company must have an AML officer on staff. One board member must be a resident. Despite the lenient requirements, a financial audit is required in this jurisdiction.

Both a newly established institution and a branch of a foreign company that has been registered in Estonia can submit an application for a license. When reviewing submitted documents, the regulator may request additional information.

All stages — from document preparation, opening bank accounts, and communicating with regulatory authorities to Estonia crypto license register — can be completed with the help of a team of professional lawyers. Contact the SBSB experts, and we will simplify the complex licensing process for you! Our specialists will become your legal representatives during registration and provide full legal support before and after launching the project. 

Cost of Estonia Cryptocurrency License

You can find out the exact cost of document processing by contacting our specialists. Contact our lawyers and get a free consultation on all your questions, including the cost of licensing. We analyze each project and take into account many factors — the individual features of the client’s company and additional services (costs of processing, payment of state and notary fees, assistance in finding and renting a physical office).

Why you should address SBSB Fintech Lawyers experts for obtaining Cryptocurrency licenses in Estonia

If you are interested in obtaining Crypto License Estonia or licenses in another jurisdiction, contact the SBSB team! Since 2013, we have been helping clients launch crypto projects in different regions of the world, providing comprehensive turnkey legal support. Our specialists turn ideas into successful international businesses. Trust professionals, and our team will take care of solving all bureaucratic issues related to registration and licensing.