Cryptocurrency exchange license in Estonia
Every year more and more businessmen choose Estonia to launch an ICO, as well as to obtain a license to exchange cryptocurrencies and to use cryptocurrency wallets.
The number of launched projects is growing steadily. Experts note that recently, virtual currency startups, exchanges, ATMs and exchange resources have been actively opening.
This is largely due to the fact that Estonia is among the leaders in the advancement and availability of Internet services. Thanks to this, the country has become convenient for transactions involving blockchain and cryptocurrencies.
Five fundamental points can be emphasized that show all the advantages of running a crypto business in Estonia:
- Price. In terms of the cost of company registrations, Estonia is very favorable. Here, registration is much cheaper than in Britain, the United States, Switzerland or Singapore. So, the license for opening a virtual currency exchange office in the country is much lower than in the ones listed above.
- Deadline. A minimum of time passes from the submission of documents for registration to obtaining a license. If everything is prepared correctly, the duration of the procedure will not exceed one and a half months.
- Laws. Licenses for exchange operations can be obtained in a completely legal way. Since December last year, the use of cryptocurrencies for business has been available to everyone. This is referred to as “virtual value”.In addition, it is noted that there are conditions under which the token will qualify as securities. In Estonia, the percentage of likelihood that the regulator considers the token a security is much lower than in Singapore or the United States. That is why Estonia is increasingly being chosen to open ICOs.
- Regulator. Cooperation with regulators can play a key role in any blockchain project. So, in Estonia, cooperation with the Financial Inspectorate and other financial regulators is much easier than in the same States and Singapore.
Representatives of these organizations are happy to provide legal information for entrepreneurs who deal with e-currency. A number of issues can be resolved only with their help. Therefore you can address them without hindrance. Most of the employees speak English, as well as Russian. So there is no speech barrier.
- Residence in Estonia. The state is supportive of business ideas from all over the world. Now Estonia is named one of the leaders in digitalization and Internet technologies. Any businessman wishing to start a business in Estonia can apply for an e-residency card.It allows you to open access to all government services and further simplify relations with government organizations. The card will help you avoid bureaucratic delays and save time.
- Taxes. The tax policy here is also one of the most competitive in the world. These are the data of the OECD. There are no income taxes as such. Altcoin, Bitcoin, and many other cryptocurrencies will not be subject to VAT / VAT.
All ICO projects are also exempt from tax payments. This means that the proceeds raised from the ICO will not be subject to payments from profits until the stage when dividends are distributed.
In Estonia, it is quite easy to obtain official licenses for exchangers for cryptocurrencies with the status of transactions from 7 thousand Euros. Eternity Law International already supports many projects related to the cryptocurrency business, as well as blockchain technologies.
A team of specialists in this field helps to obtain a license for the exchange of cryptocurrencies in Estonia. Dozens of clients have already used this service.
There is a “Turnkey” complex, which includes:
- analysis of internet startups and consultation;
- assistance in establishing a legal structure;
- support during account opening;
- preparation for obtaining licenses;
- submission of documentation to all appropriate authorities;
- providing a legal address for the company;
- opening new offices and recruiting employees;
- state fees payment;
- legal advice and solution of accounting issues.
Also, Eternity Law International helps in cooperation with representatives of the Financial Supervision Authority and the Bureau of Data on money laundering issues.
We can say that a cryptocurrency business in Estonia is the right choice. It is much easier to implement it here than in any other jurisdictions. The most important thing is to follow all legal norms and acts of the country.
To avoid problems, it is better to immediately use the services of qualified specialists. According to forecasts, Estonia will continue to focus on developing its e-money business in the future.
Analyzes show extremely positive dynamics. This area is gradually developing and can bring considerable income, both to residents and the country as a whole. Contact us, get qualified help.