Corruption as low as in the United States
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0% corporate income tax on retained and reinvested profits
Here are 5 top reasons you may want to incorporate your cryptocurrency business in Estonia.
The new wording of the Money Laundering and Terrorist Financing Prevention Act stipulates that providing services of the exchange of virtual currency or custodial wallet services requires an authorization.
Till now cryptocurrency trading was regulated as the activity of providing services of alternative means of payment. During eight months after the new wording enters into force the company that has been granted an authorization for providing services of alternative means of payment is obliged to notify the Police and Border Guard Board whether the current authorization shall be renewed into the authorization for providing services of the exchange of virtual currencies.
During 30 working days after the submittal of such notice the Police and Border Guard Board will decide upon the issuance of the authorization without the applicability of state fee and without an additional revision of the preconditions for the obtainment of such authorization. Nine months after the law enters into force the authorization for providing services of alternative means of payment becomes invalid.
In order to obtain a cryptocurrency exchange license an application must be filed to the Register of Economic Activities. The application must be supported by required documents and information. As a rule, the Financial Intelligence Unit will provide the authorization within 30 days from receiving all necessary documents.
Do you have any questions or do you wish to obtain a cryptocurrency exchange license? Please contact us firstname.lastname@example.org and together we will find the best solution for your business.