In modern financial space, a separate niche has already been formed for cryptocurrencies – digital funds that are used for settlements and actively circulate in various operations. More organizations are appearing on the market intending to offer services for the crypto-exchange, opening of crypto-currency debit cards and carrying out crypto-operations. In jurisdictions favorably accepting cryptocurrencies, particularly in Portugal, special permits are needed for such business-activities. Next, we will consider the main aspects and nuances regarding getting crypto-license in Portugal.
Our firm provides comprehensive professional support in crypto licensing in hundreds of jurisdictions that accept cryptocurrencies. We also have a huge number of ready-made licenses for sale in other commercial areas. Our experts are ready to help on any issue.
Main regulations that were formed by the local regulator are quite loyal and supportive of entrepreneurs. The general rules and regulations that need to be followed for getting Portugal crypto license are next-mentioned.
Main AML standards and regulations for getting crypto license in Portugal are as follows. They are mandatory for all crypto companies.
Documents that organizations need to collect for establishment and getting appropriate license permits include next-mentioned.
We will help you collect a complete documents’ package and take over the communication with the regulator. Your efforts will be minimal, thanks to which you can direct them to progress of your business-structure.
The type of licensing permission depends on what range of crypto-service firms intend to offer.
Portugal is trying in every way to develop each of trading crypto Portugal directions allowed in the jurisdiction, providing strict support to this sector as a whole. This becomes an attractive factor for aspiring entrepreneurs and those who have already been able to reach certain heights in their commercial path.
It should be noted that this country belongs to range of those spaces that managed to successfully cope with the consequences of several crises that had a significant impact on economic sector. Portugal sets and strongly supports auspicious conditions for doing business-activities connected with blockchain. Tourism sector is especially developed in the country, however, the jurisdiction is ready to offer numerous opportunities for commercial progress also in cryptocurrency niche. Opening and running crypto-business in Portugal is quite profitable because of following benefits and privileges. Thus, cryptocurrency exchange license Portugal privileges are as follows.
This jurisdiction compares favorably in establishing a fairly simple and intuitive process for crypto-companies registration. Entrepreneurs don’t need to perform any rather complex or difficult actions. However, it is best to entrust this matter to professionals, which are our specialists. We are ready to take over the entire procedure, ensuring the most effective result.
The procedure to open a cryptocurrency company in Portugal is as follows and contains such steps.
We are ready to guide you through each step of the above process efficiently and quickly so that you can get your business up and running in shortest time. Our firm also offers many ready-made structures for acquisition, in particular, banks for sale, brokerage companies, gambling projects, and more.
There aren’t separate provisions in Portuguese legislation covering payment of taxes by crypto-firms. Given this, profits obtained from vending of crypto-currencies aren’t subject to income taxation, nor to increase in corporate capital, nor to increase in equity capital.
As Portuguese taxation system states and functions, profits received from vending of any crypto-asset aren’t taxed. There is an exception to this rule, which is as follows. If the profit is regular, it qualifies as business or professional incomes, thus, it’s already taxable. The rate can reach 48%.
Portugal offers quite favorable conditions for legal establishment of crypto-firms. In addition, the development of these commercial structures is supported by the state apparatus and local capital-holders, and it’s of no small importance. The cost of obtaining a cryptocurrency license in Portugal is calculated individually for each company, as it depends on many related factors.
Our experts are ready to calculate the exact cost for you. We also focus our efforts on optimizing your budget as much as possible and effectively allocating costs. We have many years of experience and professional knowledge, which allows us to achieve fast and profitable service for our clients. Our experts are familiar with all the nuances of crypto-licensing in Portugal, which is a guarantee of success and security for starting your commercial project.
Cryptocurrency exchanges are separate platforms that are officially registered and controlled by local authorities. Through such platforms, users can exchange cryptocurrencies among themselves and for fiat funds. All transactions that users carry out within the crypto exchange are subject to monitoring and regulation through accepted local and European rules and regulations. A crypto exchange can only operate legally if it has a cryptocurrency exchange license Portugal.
Strict control over the activities of crypto firms is carried out by Banco de Portugal – Bank of Portugal. The regulator is also responsible for issuing appropriate Portugal crypto licenses for companies intending to work with crypto assets. Every crypto business must comply with the requirements and rules that are outlined in European directives designed to prevent terrorist trends and illicit cash flows.
Cryptocurrencies in Portugal are not equivalent to cash, however, transactions and settlements with them are not prohibited. The most crypto-friendly bank is Caixa Geral de Depositos. Companies that plan to conduct crypto activities in this jurisdiction must obtain a cryptocurrency license in Portugal.
Cryptocurrency can be used for transactions and settlements, however, it is not equivalent to traditional money and is not officially considered a method of payment. Cryptocurrencies can also be exchanged for fiat and among themselves. It is possible to conduct crypto activities if the company has the appropriate cryptocurrency exchange license Portugal.
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