Crypto licenses – VASP

Price:

From 1900 €

Do you want to know the exact cost?

Get the opportunity to work with cryptocurrencies, here are a few of the benefits comfortable market entry, no MLRO, directors, or structure requirements. No reporting on activities, fully remote operation (until MiCA comes into force), and no requirement for share capital.

Regulatory Framework

The Czech Republic is actively adapting to the cryptocurrency ecosystem in an effort to create a favorable environment for innovative blockchain-based businesses while mitigating potential risks associated with the use of cryptocurrencies. The main regulatory body overseeing this sector is FAÚ (FAO - Financial Analytical Office), which is responsible for the implementation and enforcement of relevant laws.

Application Process

The application process for obtaining a crypto license in the Czech Republic involves several steps, including:

Company Formation: The first step is to establish a legal entity in the Czech Republic. This can be done by registering a new company or acquiring an existing one.
Compliance with AML and KYC Regulations: Crypto businesses must comply with anti-money laundering (AML) and know-your-customer (KYC) regulations to prevent illicit activities and ensure customer identification.
Submitting Documentation: The applicant must provide a comprehensive set of documents, including business plans, policies, and procedures that demonstrate their ability to operate securely and responsibly.
Notification to the regulatory authority: providing information about the person responsible for AML/CFT compliance.

Main types of activities

An exchange between cryptocurrencies to fiat money

Exchanges, exchangers

for businesses operating crypto exchanges, facilitating the trading of digital assets for fiat currencies

Exchange between crypto

Exchange between virtual currencies

Required when exchanging cryptocurrencies for a fee

Custodian services and Wallets

Entities offering custodial or non-custodial wallet services for secure storage and management of customers' digital assets

Other services

Consulting, financial services related to cryptocurrencies, etc

Our tariffs

Basic

From 1900 €

Company registration
Obtaining the crypto licence (VASP)
Registration with the Financial Analytical Office and handling the correspondence

Get consultation

Optimal

From 5000 €

Company registration
Legal adress for one year with a regular correspondence check
Obtaining the crypto licence (VASP)
Basic AML/KYC policy preparation
Registration with the Financial Analytical Office and handling the correspondence
Support with the oppening of the payment account based on the client needs/ preferences

Get consultation

Premium

From 6500 €

Company registration
Legal adress for one year with a regular correspondence check
Obtaining the crypto licence (VASP)
Individual AML/KYC policy preparation based on your business needs
Registration with the Financial Analytical Office and handling the correspondence
Support with the oppening of the payment account based on the client needs/ preferences
Search, integration and employment of the local money laundring reporting officer (MLRO)
Full scale consultation for the incropration of the accounting and legal services
Full set of registration documents with the Apostile and translation to local language (country or origin)

Get consultation

Follow-up of the project - from 300 € per month, on request
Get consultation

Basic steps to start an activity

Crypto licenses – VASP - Samson Solutions

Company formation

The first step towards obtaining a Czech crypto license is the establishment of a legal entity in Czechia, which can be set up either in person or remotely under a power of attorney.

License obtaining

Once a company is registered, it must notify the authorities of the Czech Republic of its intention to provide services related to the exchange or storage of cryptocurrencies by submitting the appropriate application to the Trade Licensing Register.

Notification to the regulatory authority

Before starting operations, a cryptocurrency company must designate a contact person for quick communication with the regulatory authority and an AML officer (MLRO) to notify the regulator of suspicious and unusual transactions. FAU must be notified in writing of the appointment of a contact person and MLRO and their contact details must be provided. The contact person and MLRO may be the same person, who may be a resident of a foreign country.

Preparing the infrastructure

For a crypto business to function properly and to provide uninterrupted services related to cryptocurrency exchange, it is necessary to prepare and set up the appropriate infrastructure: open a current account with a bank or payment system (SWIFT, SEPA), create a corporate account on a cryptocurrency exchange, set up automated accounting of dealings and transactions, ensure collection and secure storage of information about clients and transactions made by them.

We SUPPORT the process of opening an account but do not guarantee it in any way.

We will help you to find a solution to any of your problems

We will contact you within 20 minutes