From 21900 €
Estonia is a leading jurisdiction for cryptocurrency businesses, known for its forward-thinking regulatory environment and efficient licensing process. The country has established itself as a hub for crypto operations, offering a secure and transparent framework that aligns with European Union standards. With its well-developed digital infrastructure and supportive legal system, Estonia provides an ideal environment for businesses seeking to establish or expand their crypto activities in a regulated and compliant manner.
Regulatory Framework
Estonia's crypto regulatory framework is managed by the Estonian Financial Intelligence Unit (FIU). To operate legally, companies must establish an Estonian entity with a physical office in the country. The framework requires a minimum share capital of €100,000 for crypto exchange services and €250,000 for custodial services. Additionally, at least one board member must be a resident of Estonia or the European Economic Area (EEA). Companies must also implement comprehensive AML/KYC policies and appoint a qualified AML officer to ensure compliance with anti-money laundering and counter-terrorism financing regulations.
Application Process
The application process for obtaining a crypto license in the Poland involves several steps, including:
- Company Formation: Establish a legal entity in Estonia, ensuring compliance with local registration requirements and setting up a physical office in the country.
- Capital Requirement: Deposit the minimum required share capital (€100,000 for exchange services, €250,000 for custodial services) to the company’s bank account.
- AML/KYC Policies: Develop and implement comprehensive Anti-Money Laundering (AML) and Know Your Customer (KYC) policies. Appoint an AML officer to oversee these policies.
- Document Submission: Prepare and submit all necessary documentation, including the business plan, to the Estonian Financial Intelligence Unit (FIU).
- Regulatory Review: Engage with the FIU during the review process, providing any additional information or clarifications as required.
- License Issuance: Upon approval, receive the crypto license and begin operations, ensuring continuous compliance with Estonian regulations.
Main types of activities
- Cryptocurrency Exchange Services: Facilitating the exchange of cryptocurrencies for fiat currencies or other digital assets.
- Digital Wallet Services: Providing secure digital wallet solutions for storing and managing cryptocurrencies.
- Custodial Services: Offering custody services to securely hold digital assets on behalf of clients.
- Crypto Payment Processing: Enabling businesses to process payments using cryptocurrencies.
- ICO/Token Issuance: Assisting in the launch and management of Initial Coin Offerings (ICOs) and token issuances.
