Cryptocurrencies are a digital format of funds that have a certain value. In some countries, cryptocurrencies have become so firmly integrated into the financial environment that they have received the status of official means of payment, which can be used to pay for services and goods. Many entrepreneurs rightly believe that crypto-currencies and blockchain-technologies are indeed our future. This causes an increased interest in these funds and entrepreneurship in this industry. Below, we’ll look at TOP-7 best jurisdictions for crypto license.
Poland
Poland showed interest in crypto-currencies at very beginning, when blockchain-technologies were just beginning to be gradually introduced into our world. Recently, additional regulations have been formed and applied in the jurisdiction regarding the regulation of crypto-businesses. This was done in order to make crypto legal basis more understandable and clear. In addition, Poland is interesting as a space for crypto entrepreneurship due to the following advantages.
- A special taxation regime, which is called and known throughout the world as the “Estonian CIT model”. The application of such a regime is aimed at increasing investment in the commercial sphere and getting rid of the payment of income tax before it is converted into cash.
- Poland’s economy is the most stable compared to other EU countries. The jurisdiction occupies and maintains a leading position in terms of bilateral trade, GDP growth and a stable economy.
- In order to simplify the process of creating a business as much as possible, Polish legislation provides opportunities for creating companies not only in a short time, but also without the obligatory stay of the founders in Poland.
- The jurisdiction is characterized by one of the most optimal levels of taxation among other EU countries.
- Thanks to the government’s ongoing policy of debureaucratization of the licensing system, licensed activities in the country have been reduced to a minimum, and the requirements of each of them are quite simple and not ambiguous. Crypto business is one such commercial industry.
Bulgaria
Bulgaria is known in Europe for constantly and inexorably following all progressive global trends. Regulative basis of jurisdiction is constantly being modernized and improved, being optimized for the developing global commercial space. At the same time, Bulgaria remains one of most solid areas for development of business projects.
- Sufficiently auspicious conditions and rates regarding the payment of taxes. The income tax rate is very low at 10%, unchanged since 2007, and VAT is 20%.
- High qualification of the labor force at its low cost.
- Bulgaria is strategically located in the center of the Balkan Peninsula and forms the EU’s southern border with Turkey. This makes it an important region for four European transport corridors.
Czech Republic
Czech is also known in the European space as one of the most loyal and progressive crypto countries. Establishing a crypto company in this jurisdiction is quite simple and accessible even to a novice entrepreneur. This is especially important and beneficial for startups. In addition, various crypto events are constantly organized in the Czech Republic, within which any project can find interested investors and potential partners.
- Government structures and regulators of the Czech Republic set an ideal investment climate locally.
- Support for crypto-entrepreneurship in the country is carried out at all levels. This ensures the absence of corruption, problems with tax authorities and other government agencies. The main thing that is required from a businessman is to honestly develop his/her company. Entrepreneurs are maximally protected by the state from a wide variety of problems.
- Stability in the economic sphere. The Czech Republic has not known major crises and serious financial disasters for a very long time.
Lithuania
Lithuania is rightfully considered the largest and widest crypto space in Europe. Support for crypto projects, in particular, start-ups, is carried out very actively and to a fairly significant extent. As in the Czech Republic, crypto events, symposiums and conferences are often organized in Lithuania, where entrepreneurs, both beginners and those who want to expand their business, present their projects.
- A stable state, with a relatively uncomplicated and safe investment policy.
- The country is constantly improving its image and its attractiveness among investors not only in country, but also in relations with foreign partners.
- Lithuanian business-sector has been reformed and currently complies with all EU requirements and standards.
- The presence of seven free economic zones, where there are favorable economic and legal opportunities for the functioning of enterprises.
- Moderate taxation (profit tax is 15%, and startups have the opportunity to reduce it to 5%).
UAE (Dubai & Abu Dhabi)
Speaking of the United Arab Emirates, we imagine a space rich in opportunities and prospects, bringing together fabulously famous and profitable corporations known throughout the world. The UAE actively supports the crypto-currency sphere and the introduction of blockchain-technologies, however, at the same time, it applies a fairly strict regulative framework in relation to them.
- High commercial potential and internal resources.
- A high standard of living, which ensures the solvency of the population and the ever-growing demand for crypto products.
- Dozens of free economic zones.
- Wide market for office space for rent.
- Simplified rules and standards for financial reporting.
- Developed logistics, high stability of local currency and absence of corruption.
UK
The stability and profitability of the United Kingdom is known not only within the European commercial space, but throughout the world. The UK has earned a luxurious image and reputation among entrepreneurs, which has made jurisdiction appealing for start-ups. In particular, the support of the crypto sector by the state apparatus also contributes to the active crypto expansion of the jurisdiction.
- A generally recognized financial authority, respectively, an excellent business reputation for an entrepreneur and ensuring the trust of trading partners.
- Simplicity and speed of establishment of the company, if necessary, involve the minimum costs, including those that will be necessary for the further maintenance of activities.
- A high level of investor protection, the absence of corruption and such a thing as “commercial crime”.
- The country has entered into agreements on the prevention of double taxation with more than 100 states.
- Opportunity to resort to nominal service.
Georgia
Georgia’s welcome to crypto-currencies is known all over the world. State bodies and the local regulator actively support the introduction of crypto-currencies into general circulation, their integration in the commercial environment and the functioning of crypto-startups.
- A simple and understandable procedure for establishing a company, as well as a low cost of registration.
- Stability of the economic environment.
- The presence of an industrial zone, where there are certain tax privileges for entrepreneurs.
- Advantageous location of country between Europe and Asia.
- Over 50 double tax treaties.
- Transparent tax system and loyal rates, quite low and beneficial for entrepreneurs.
- Ease of structuring and administering business projects. Submit reports and pay taxes in Georgia remotely.
Our company will provide you with comprehensive professional assistance in obtaining a crypto license in any of your chosen jurisdictions. Our experts will accompany you every step of the way. We also have an extensive list of ready-made licenses for sale in various commercial areas.
