Solving nonstandard business issues

Company formation and management in Estonia

Remote business management

Start a location-independent business with minimal cost and red tape

A fully digital end-to-end service

Complex ownership structures with multiple shareholders

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Licences for financial services

You need to apply for an activity licence if you wish to operate in the following fields of activity:

•   Operating as a financial institution (except areas of activities connencted to responsibilities of the Financial Supervision Authority)
•   Providing trust and company services;
•   Providing pawnbroking services;
•   Providing a virtual currency exchange and/or wallet service;
•   Buying-in or wholesale of precious metals, precious metal articles or precious stones.

The activity of financial service providers is regulated by the Money Laundering and Terrorist Financing Prevention Act (MLTFPA).

Amendments to the MLTFPA were adopted by the Estonian parliament Riigikogu on 11 December 2019. The main purpose of the amendments is to strengthen the position of the Estonian Financial Intelligence Unit (FIU) in its authorisation and supervision procedures for digital-asset related businesses.

The main amendments are:

The amendments and new requirements entered into force on the 10th of March 2020

Virtual Currency Exchange License and E-Wallet License

Our company has prepared for the amendments and new requirements and is pleased to offer you two options: the essential package or the all-inclusive package.

The packages offered are in compliance with the new legal requirements and include all the necessary steps to be taken in order to get an Estonian company that is officially licensed as a provider of virtual currency services and ready to start operating.

Essential package

Service includes:

(1) Company Formation
(2) State Fee for the License
(3) e-Residency Card Application for the Compliance Officer
(4) Renting the Office Space
(5) Filing and Submitting the License Application
(6) Payment Account at a Virutal Currency Friendly PsP
(7) Notarized and Apostilled Incorporation Documents
(8) Setting Up Accounting
(9) Assistance with Share Capital Contribution

Altogether: EUR 8,600 (excl. VAT, if applicable).

All-Inclusive Package

Service includes:

(1) Company Formation
(2) State Fee for the License
(3) e-Residency Card Application for the Compliance Officer
(4) Renting the Office Space
(5) Filing and Submitting the License Application
(6) Payment Account at a Virutal Currency Friendly PsP
(7) Notarized and Apostilled Incorporation Documents
(8) Setting Up Accounting
(9) Assistance with Share Capital Contribution
(10) Signing the Lease Contract for the Office
(11) Compilation of the Employment Contract
(12) Translation of the Financial Intelligence Unit Interview
(13) Practice Interview with the Client
(14) Tax Residency Proof from EMTA
(15) VISA Application
(16) Submitting a Place of Residence to the Population Register

Altogether: EUR 11,800 (excl. VAT, if applicable).

Please note that you have to pay 12, 000 EUR as share capital contribution. This is compulsory for companies dealing with virtual currencies, but it will remain for the use of company and can be used for company development, for buying capital assets, etc.

The fees have no hidden charges, thus they include all the relevant notary fees and state fees.

Apply for an activity licence for the provision of financial services