Crypto License in Poland

Crypto License in Poland

Now digital currency is becoming more and more popular. However, legislative crypto regulation in many states is still a rather complicated aspect. In Poland, cryptocoins are treated quite progressively. Investors will be interested in registering organizations there to offer crypto exchange services since getting crypto license in Poland has a great field to implement their own commercial plans.

Poland is one of the first EU states to evolve cryptographic currency as a separate type of activity at the legislative level. So, firms now have the right to officially deal with digital assets.

Crypto license in Poland 2022: changes in the market

New laws for crypto use and circulation have come into force in the jurisdiction. Now, to legally offer services with crypto assets, companies must undergo mandatory registration. Following requirements apply to persons who intend to deal with crypto wallet and exchange services:

  • passing firm registration in Poland and getting physical address;
  • providing copies of identification documentation of senior management and owners of the firm;
  • the absence of a criminal record for the implementation of certain illegal transactions related to crypto and fiat funds, securities and others. You can get the corresponding extract from the Polish justice authorities;
  • qualifications or proven experience in working with cryptocurrencies. This is necessary for those who have been working in the field of digital assets for more than a year;
  • confirmation of placement the company’s capital of at least five thousand zlotys. The entire amount must be paid upon firm registration;
  • AML/KYC policies, control schemes and procedures developed and ready for implementation in practice;
  • mandatory regulatory reports;
  • compliance with new rules regarding the KYC for operations with virtual assets. Previously, the allowable amount of transactions was 15 thousand euros, but now it is necessary to undergo additional identification if an exchange or transfer of an amount exceeding 1 thousand euros occurs;
  • the firm’s record keeping of customer data.

A cryptocurrency license is needed for individuals dealing with services with virtual currency as individual entrepreneurs, as well as companies that have been registered as organizations offering cryptographic currency exchanges or wallets.

Getting cryptocurrency license and business in Poland: main steps

  1. Preparation of documents for firm registration.

We are ready to provide you with following services within this stage:

  • compiling a package of documentation for online registration;
  • beneficiary registration and preparation of a declaration for submission to tax bodies.
  1. PESEL tax number.

To apply electronically through the ePUAP platform, businesspersons need to register a PESEL number. Then, make following steps:

  • certify and translate a copy of the director’s passport, affix an apostille. These procedures are made in Poland;
  • a document is delivered by a courier, which confirms the issuance of PESEL.

In total, documents’ delivery may take up to a month. After that, you need to contact the local consulate to turn on the ePUAP; for it, the entrepreneur submits a passport and receives PESEL. If you receive PESEL personally, the procedure will take several less – only one day. Then, firms are subject to being listed in Commercial Register of Enterprises Working with Cryptocurrencies.

If you have any questions or intend to open crypto company in this jurisdiction, contact us. Our experts have a huge expertise in buying and selling businesses, as well as licensing.

You may also view new offers in categories Cryptocoins and licensing of cryptocurrency operationsReady-made companiesBanks for sale and Licenses for sale.

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