Estonia is one of the first countries in the European Union to start working with cryptocurrency licenses. That is why the development of this form of payment has been very popular in the jurisdiction. Today, many stores officially accept payments in cryptocurrency. It can also be used to pay for some services. Let us consider how to obtain a cryptocurrency license in Estonia and what Maira Consult experts recommend for this purpose.
What is cryptocurrency?
A cryptocurrency is a type of digital currency based on cryptographic methods. Most cryptocurrencies are not regulated by central banks, except for CBDCs. The latter are still under development in many countries or are used by a small number of citizens. That is why the exchange rate of an ordinary cryptocurrency is not affected by the country's economy, but only by the interest of virtual coin holders.
Thus, due to the impossibility of influencing cryptocurrency, states introduce legislative measures to regulate it. In Estonia, this means obtaining a special license. However, individuals cannot submit documents to obtain it, which is why it is necessary to register a company. Only then is it possible to obtain a cryptocurrency license in Estonia. To do this, Maira Consult first of all recommends registering a company.
The process of registering a company in Estonia with Maira Consult
- Selecting a company name and checking its availability.
- Determining the form of the company.
- Collection of the required package of documents.
- Confirmation of the identity of the company owner.
- Determination of the authorized capital.
- The process of company registration.
Company registration and license obtaining
After the company is fully registered, which takes about two weeks, you can apply for a license. This process will take up to 30 business days if there are no comments from the regulator.
The company can obtain a license for the following activities:
- exchange of cryptocurrencies;
- exchange of virtual currency for fiat funds;
- virtual currency wallet service.
Assistance from Maira Consult in obtaining a cryptocurrency license in Estonia
One of the important stages in registering a company in Estonia is to obtain tax residence certificate. That is, immediately after the company is founded, it becomes a tax resident of Estonia. If you do not know how to obtain a certificate, please contact Maira Consult. We will help you:
- compile an application;
- submit a document to the tax office;
- check for the existence of a double taxation treaty.
Want to learn more about obtaining a cryptocurrency license in Estonia? Sign up for a free consultation at Maira Consult in the office or online.
