Eternity Law International — News — License for the exchange of cryptocurrency in Estonia

License for the exchange of cryptocurrency in Estonia

Published:
May 16, 2018

Nowadays, Estonia can rightfully be considered one of the most profitable states for issuing a license for cryptocurrency and conducting crypto business. Businesspersons from all over the world choose this state to launch ICO projects, obtain licenses for the exchange of crypto currency, use cryptowallets.

Every year, more and more businessmen choose Estonia to launch the ICO, as well as to get a license to exchange cryptocurrency and to use cryptocurrency wallets.

The number of projects launched is steadily growing. Experts note that recently, start-ups for virtual currency, exchanges, ATMs and exchange resources are actively opening.

This is largely due to the fact that Estonia is in the lead on the advancement and accessibility of Internet services. Due to this, the country has become convenient for carrying out operations involving brokers and crypto-currencies.

It is possible to emphasize six five basic points that show all the advantages of conducting cryptocurrency business in Estonia:

  1. Price. At the cost of company registrations, Estonia is very profitable. Here appearance is much cheaper than in the UK, the United States, Switzerland or Singapore. Therefore, the license for opening a virtual currency exchange office in the country is much lower than in the above.
  2. Terms. A minimum of time passes from the submission of documents for registration and until the license is obtained. If everything is prepared correctly, the duration of the procedure will not exceed one and a half months.
  3. Laws. Licenses for exchange transactions can be obtained in a perfectly legal way. Since December of 2017, the use of cryptocurrency for business is available to all.
    This is called “virtual value”. In addition, there are conditions under which the token will qualify as securities. In Estonia, the percentage of probability that the regulator will consider a token as a security is much lower than in other countries, for instance, Singapore and United States.
  4. Regulator. Cooperation with regulatory bodies, as well as admission to them, can play a key role in any blocking project. Therefore, the cooperation in Estonia with the Financial Inspection and other financial regulators is much easier than in the USA and Singapore.
    Representatives of these organizations willingly provide legal information for entrepreneurs who deal with e-currency. A number of issues can be solved only with their help, therefore it is possible to address them without hindrance.
  5. Residence in Estonia. The state is supportive of business ideas from around the world. Now Estonia is the most leading country of digitalization as well as Internet technologies.
    Any businessperson who wants to start a business in this country can apply to get an e-residence card. It allows admission to all state councils and further make simpler relations with state organizations. The card will help to avoid bureaucratic delays and save time.
  6. Tax legislation in Estonia is also the most modest around the world. These are the OECD data. Altcoin, bitcoin, as well as many other crypto-currencies will not be subject to VAT / VAT. In addition, all ICO projects are exempt from tax payments.
    This means that the proceeds from ICO will not be subject to payment from profit until the stage until dividends are distributed.

LICENSE TO THE CRYPTOCURRENCY EXCHANGER

In Estonia, it is easy enough to obtain official licenses for exchangers for cryptocurrency with the status of transactions from 7,000 Euros. Eternity Law International already accompanies a lot of projects related to the business of crypto-currencies, as well as with block technologies.

A specialists of Eternity Law International in this field helps to get a license for the exchange of cryptocurrency in Estonia. This service has already been used by dozens of customers.

There is a complex “Turn-key”, which includes:

  • analysis of Internet start-ups and advice;
  • assistance in establishing a legal structure;
  • escort during opening of accounts;
  • preparation for obtaining licenses;
  • submission of documentation to all appropriate authorities;
  • providing a legal address for the firm;
  • opening new offices and recruiting employees;
  • fee on state fees;
  • legal advice and the decision of accounting questions.

In addition, Eternity Law International helps in cooperation with representatives of the Financial Inspectorate and the Money Laundering Data Bureau.

Summarizing, we can say that the business of crypto-currencies in Estonia is the right choice. It is much easier to implement it than in any other jurisdictions. The most important thing is to follow all legal norms and acts of the country.

That there were no problems it is better to immediately use the services of qualified specialists. According to forecasts, Estonia will continue to focus on the development of e-money business in the future.

Analyzes show exceptionally positive dynamics. This direction is gradually developing and can bring considerable income to both residents and the country as a whole. Contact us, get expert help.

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