The National Financial Intelligence Unit (FIU, or Rahapesu Andmebüroo, RAB) is the local government institution responsible for granting cryptocurrency licenses in Estonia.

A team of experts from Foster Swiss will accompany you in your project through all the necessary procedures in preparing documents and obtaining legal authorization from the authorities to launch your crypto-business.

Our advisors are available to ensure that the company registration meets all your expectations, always adjusting to your interests and future projects.

For activities in the field of cryptographic services in Estonia, in accordance with the Law on the Prevention of Money Laundering and Financing of Terrorism, a license called a single cryptocurrency license is required.

The new regulations for companies working in the cryptocurrency field went into effect on March 10, 2020.V

Below, we will indicate the information about the new requirements and regulations that Estonia demands:

Real/physical office of the company in the country. The board of directors and the location of the company must also be in Estonia.

Information should be provided about accounts in banks and payment systems that are opened in the name of the company.

The paid-up share capital of the company on the basis of (1) 4) Article 70 of this Law must not be less than EUR 12 000.

The application for a crypto-license will be reviewed by the financial intelligence unit within 60 days. Based on the decision of the financial intelligence unit, the period can be extended to 120 days.

Companies that are already licensed must comply with the law by July 1, 2020 and provide additional information to the FIU.

Foster Swiss Consultants will help you in practically everything, we provide you with personalized advice from the moment of choosing the jurisdiction where to apply for your Crypto License that best benefits you, until the constitution of the company.

For more information on this topic or any requirement related to our services, you can contact us directly through info@fosterswiss.com