Eternity Law International — News — Crypto license in El Salvador

Crypto license in El Salvador

Published:
August 8, 2023

El Salvador is a small country in Central America, but it has already managed to attract the attention of many players in the crypto market. The fact is that for more than 4 years, not only the USD but also Bitcoin is considered the official settlement coin here. This is the only state where crypto-currency is recognized at the national level.

The active development of cryptocurrencies in El Salvador is supported by local governments. Various tax benefits are provided for companies in this industry. But to get them, you need to apply for a crypto license in El Salvador. Conveying it is not very difficult, but you need to understand the specifics of the local institutions.

Benefits of accepting El Salvador`s crypto-license

Achieving a crypto license in El Salvador in 2023 will provide your corporation with many advantages that you have not thought about before. First of all, in this country, you can use crypto-currency as a real payment instrument. Such freedom of action is not available in any other country in the world.

In addition, representatives of corporations that have such a permission, highlight the following advantages of the execution of such a document:

  • working in an attractive market with high growth potential;
  • virtually no taxation on operations with cryptocurrencies;
  • working with cryptocurrency not only in the B2B but also in the B2C sphere;
  • simple and clear rules of the game on the market;
  • possibility to enter other markets;
  • possibility to cooperate with state enterprises.

Such advantages are not offered in all markets today. Therefore, toiling under El Salvador`s crypto-license is an excellent solution that will help you to actively develop in this area.

Cryptocurrency-license approach

To process a crypto-license, the applicant corporation needs to undergo El Salvador crypto authorization with local officials. There are 3 general steps to pass the authorization:

  • submission of docs;
  • registering a legal entity;
  • unfurling a corporate-account.

After that, the license can be obtained. In general, this approach can take up to 3 months.

The first stage of collecting documents and their examination by the regulator will take no more than 2 weeks. Among the documentation, it is essential to furnish the name of the legal-entity, data on co-owners and management (including their residence addresses and powers of attorney), and a business-plan for the development of the corporation.

The second stage is the longest and takes up to 5 months. During this time the corporation registration will be completed, corporate and license docs will be prepared and an app for a crypto-license will be submitted.

In the third stage, bank accounts are drawn up in 2 months, the docs essential for the start of work are provided and preparatory approaches for the launch of the business begin.

Prerequisites for the applicant-company

To operate in the El Salvador Cryptocurrency market, your application must comply with local legal requirements. Therefore, all applicant companies commit to:

  • complete the corporate registration processes with the relevant-entities, including the national commission for digital-assets;
  • include a minimum of 2 persons or legal-entities as co-owners;
  • provide residency and citizenship docs for all executives and co-owners;
  • provide a business plan outlining the steps to develop a crypto-business through the established company;
  • describe the organizational structure of the corporation, including positions and info about each worker who manages internal workflows;
  • operate according to standards for digital data storage and processing;
  • file financial statements with info on the ownership of the assets of each co-owner and the conditioning of the registered corporation;
  • furnish data on user and investor data protection tools;
  • assist and enable regulatory controls in collecting the necessary information and reporting;
  • establish monetary crime detection units.

These prerequisites are not extraordinary for the cryptosphere. But if a corporation fails to comply with at least one of them, it is unlikely to qualify for a license to operate.

Who can help with the crypto-license approach

Representatives of companies can try to collect a package of documents on their own and get this authorization. But we recommend that you consult our experts first. Each of our employees has applied for a crypto license several times to the regulatory controls of El Salvador. Therefore, they all know the prerequisites of the regulator and will help you to form the right package of docs that will allow you to quickly obtain a license without making edits.

While your competitors will be redoing the documents, with our help you will already enter the market and be able to earn money. In this interchange you need to work quickly, so contact our staff for preliminary consultation in any convenient way for you.

What is a cryptocurrency-license in El Salvador?

It is an authorization document without which it is impossible to conduct shiftings in the field of crypto-currencies in the territory of this condition.

How do I get a cryptocurrency-license in El Salvador?

It is necessary to collect a package of documents and submit it to the supervisory authority to consider your application. If all the docs are correct and the organization meets the essentials of the controller, it will be able to apply for a license.

Businesses for sale

Crypto license in Bahamas for sale

North America, Bahamas Crypto licenses for sale
This is a new investment opportunity – сrypto license in Bahamas for sale. Please check out the main details regarding this proposal below. For Sale Crypto license in Bahamas: key considerations The company licensed by Securities Commission of Bahamas; Activities (custodial services, trade execution, staking); Company is currently not active; Bank account in local financial...

Bulgarian crypto license for sale

Europe, Bulgaria Crypto licenses for sale
The following is an opportunity to buy crypto license in Bulgaria. Please review the primary information regarding this deal. Crypto license in Bulgaria for sale: details of the transaction Registered Address: The purchase of the company includes a registered address for 12 months. Documentation: The proposal includes an apostilled and sworn translated set of documents...

Crypto license in Slovakia for sale

Europe, Slovakia Crypto licenses for sale
This is a new investment opportunity – сrypto license in Slovakia for sale. Please check out the main details regarding this proposal  below. Crypto license for sale: key considerations Clean cryptocompany in Slovakia registered in 2021; Crypto exchange, Virtual wallet, ICOs, IEOs, IDOs; Company is also capable of doing tokenization; Company has its own bank...

You could be interested

Offshore gambling license in 2023

The boom of the gambling sector is likely to continue tremendously for the foreseeable future thanks to the use of cutting-edge and dynamic technology. iGaming is coming up with new ways to satisfy the requirements of clients from any country at a time when many market segments are having trouble. The number of individuals asking...

Financial risk management

Any large enterprise will fail if it does not follow the principles of risk management, in other words, it ignores financial risk management. In this publication we will try to reveal the most important aspects of this area of ​​activity. Business is primarily a risk, so every entrepreneur tries to make every effort to keep...

SEMI license in Switzerland

Local authoritative bodies are precisely controlling the dynamically-developing FinTech-market and are quickly reacting to innovative developments. Laws regulating business-activities of providers, operators-issuers of e-money and payment mechanisms are periodically adjusted following norms and standards of current time. Permits from the country’s official body FINMA are becoming mandatory for FinTech-banks, crypto-exchanges and other organizations operating in...

Protection Against Political Persecution in Italy

Political oppression is a considerable issue that can  have an impact on people around the world. Governmental body of the particular country takes an aim at those who express their different viewpoint or belief. Sometimes these people can resort to actions which threaten the country one way or another. They can encounter unjust trial, confinement,...

Trademark registration procedure and why it is so important

Worldwide globalization of all spheres of life causes the actualization of protection of intellectual property rights. Day to day any customers meet with logo, brands, names and simultaneously realize that here is a hallmark of some brand. According to Ukrainian civil law, a trademark is an object of copyright and intellectual property as well. In...

Singapore FinTech Festival 2023: Igniting Innovation in the Heart of Asia

From November 15th to 17th, 2023, the Singapore FinTech Festival blazed a trail through the global fintech landscape, setting the stage for an electrifying convergence of innovation, collaboration, and opportunity. Held in the dynamic city-state of Singapore, this premier event brought together industry leaders, innovators, investors, and policymakers from around the world to explore the...

Related posts

El Salvador Authorised Crypto Companies

This jurisdiction has claimed itself as a global pioneer in virtual currencies regulation, making headlines with its bold implementation of Bitcoin as legalised currency in 2021. This thriving move has turned this region into a core for novelty in the virtual monetary segment, alluring financiers and venturers worldwide. With its forward-thinking legislative base, charge programs,...

Cryptolicense in El Salvador 2024

El Salvador has been a global pioneer in the adoption of cryptocurrencies, starting with the recognition of Bitcoin as an official means of payment in 2021. Since then, the country has been actively developing the legal and economic infrastructure to attract investment in the digital asset sector. In 2024, the digital assets business license in...

Crypto License in Cyprus

This region is emerging as a major hub for e-currency commercial operations, thanks to its pioneering legislative scheme, low charges, and strong monetary facilitation. For organisations looking to enlarge their activity within the e-currency space, a crypto licence in Cyprus to obtain  from the CySEC is notable. While the process is thorough, the benefits of...

Crypto gaming license

As the acceptance and popularity of crypto transactions continue to rise around the globe, any online gambling website that wants to stay afloat should be able to provide its users with the option to place and withdraw funds in crypto rather than only legal tenders like USD and EUR. A crypto gaming license must be...

Registration of a cryptocompany in El Salvador

Opening a cryptocompany in El Salvador is highly beneficial due to the recognition of Bitcoin as legal tender, tax exemptions on capital gains from virtual currency transactions as well as low cost of living and doing business. Although registering a crypto entity can seem daunting, especially if you’re unfamiliar with the jurisdiction’s requirements, our lawyers...

Gambling license in El Salvador

El Salvador is a country on the Pacific coast of Central America. It has an attractive financial performance. Licensing of gambling in El Salvador is carried out regularly. The development strategy is based on a policy of openness to international trade and investment. Therefore the state has an open attitude to foreign direct investment. Licensed...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Ready-made companies for sale

Companies with a bank account around the world

Banks for sale

Established Banks for sale

Ready-made licenses for sale

Forex, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Licensing

Forex licenses, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Offshore company registration

Expert advice on the acquisition of an offshore company

Open a bank account

Open bank accounts in more than 120 banks around the world
Fill the blank: