If you decided to venture into the world of cryptocurrencies, and you need to form a company with its respective License, Estonia is presented as the ideal jurisdiction for the formation and performance of a crypto company.
Estonia is a jurisdiction with an ideal regulatory scenario for foreign investors interested in obtaining future income with the cryptocurrency business.
Mandatory requirements for cryptocurrency licensing in Estonia
The requirements required to qualify for the cryptocurrency license in Estonia are minimal:
Required share capital of ˆ 12,000 euros.
Physical office, local management team
Appointment of a local ADLY/CFT officer
A director who must be an Estonian citizen
Non-criminal record of all members of the company, regardless of their citizenship.
The corporate bank account must be opened at a bank or electronic money institution (EMI) in a country belonging to the European Economic Area (EEA)
Documents to opt for a Cryptocurrency License in Estonia
Document legislation, certifying personal and company documents before a notary public, followed by legislation at your local Estonian embassy.
Transfer of the Estonian company to the shareholders.
Application for change of licensee to the Estonian Financial Intelligence Unit (FIU). The estimated approval time is 30 business days.
Please note that the Estonian FIU may require an interview with the application representative. However, you are not required to travel to Estonia.
Once the transfer of the company has been obtained and the license proceeds to the opening of an international corporate bank account compatible with cryptocurrencies.
If you want to locate your next cryptocurrency company in Estonia, contact the financial advisors of Foster Swiss international company registered in Switzerland that provides financial and compliance advice on a variety of topics related to company formation and commercial banking internationally.
Foster Swiss specializes in implementing businesses in different countries, which means that they offer value-added services helping clients in their expansion abroad.
Some of these services include: advice and consulting, visas, offices, director/shareholder/nominee secretary, accommodation if necessary... to name a few.
Consult with a financial advisor for more information, info@fosterswiss.com