From 6500 €
Slovakia offers a unique opportunity for launching cryptocurrency businesses due to its relatively straightforward regulatory environment. Unlike many other jurisdictions, cryptocurrency activities in Slovakia are not directly regulated by the National Bank of Slovakia. However, companies must still comply with Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations and register with the Financial Intelligence Unit (FIU). This favorable regulatory landscape makes Slovakia an attractive destination for crypto businesses seeking to operate within the European market.
Regulatory Framework
In Slovakia, crypto businesses are primarily governed by AML and CTF regulations, ensuring that all operations comply with EU standards. Companies must register with the Financial Intelligence Unit (FIU) to legally offer crypto-related services. The minimum share capital required for establishing a crypto company is €5,000, and at least one director must hold Slovak or EU citizenship. While there is no requirement for immediate share capital deposit, companies must have robust AML/KYC policies in place and maintain compliance with all regulatory obligations.
Application Process
The application process for obtaining a crypto license in the Slovakia involves several steps, including:
- Company Registration: Establish a legal entity in Slovakia with a minimum share capital of €5,000. Ensure that at least one director holds Slovak or EU citizenship.
- Document Preparation: Prepare necessary corporate documents, including AML/KYC policies, business plans, and risk assessments.
- FIU Registration: Register the company with the Financial Intelligence Unit (FIU) to legally offer crypto-related services.
- AML/KYC Implementation: Develop and implement robust AML and KYC procedures to comply with regulatory requirements.
- Regulatory Review: The FIU will review the submitted documents and may request additional information or clarifications.
- License Approval: Upon approval, the company can commence its cryptocurrency operations in Slovakia, ensuring ongoing compliance with all regulatory obligations
Main types of activities
- Cryptocurrency Exchange Services: Facilitating the exchange of cryptocurrencies for fiat currencies or other digital assets.
- Digital Wallet Services: Offering secure digital wallet solutions for storing, managing, and transferring cryptocurrencies.
- Custodial Services: Providing custody solutions to safeguard digital assets on behalf of clients.
- Crypto Payment Processing: Enabling businesses to process payments made with cryptocurrencies.
