How to Acquire Crypto Exchange License Estonia?
There are a myriad of reasons that make Estonia an apt destination to launch your crypto-related startup in the country. Estonia provides the most cost-efficient solutions for small, medium-sized to big businesses. Compared to other top investment powerhouses, the US, UK, Japan, it is a lot cheaper. Another beneficial factor is the time taken to register your company and obtain a license is 45 days, which is way less than other European nations. And, not to mention, there are no profit taxes in Estonia. In this article, we’ve curated a mini-guide to acquire crypto exchange license Estonia:
Earlier, there were two types of cryptocurrency licenses; one is for crypto trade and other being for offering wallet services. Individual applications have to be submitted to obtain the license. However, there is a single license for both services today. The Estonian Financial Intelligence Unit issues the license. Generally, it takes 30 days to obtain the license application, and the odds of approval are on the higher side.
Steps to Obtain Crypto Exchange License Estonia
Step 1: Set Up Your Company
The first thing you need to do is to set up your business in Estonia. This involves applying for the e-residency program of Estonia. The e-resident card lets you access all the government services like an Estonian citizen. If you’re setting up your business in partnership, make sure each of your partners has the e-resident card. If not applied online, the process is fast and takes a couple of days to receive the card at your doorstep.
Once you have the e-resident card, you have to register your business in Estonia; this can be done while you are in your country. However, there is one eligibility criterion, which is a physical address. The registration process will take 30 days. Estonia has been the breeding ground of top companies that have made an international mark, such as Skype.
Step 2: Apply for License
When your company has been set up, the next step is to apply for the license. Again, the procedure is online. There are several legal requirements for the same. These include providing the company contact details of your company such as email ID, phone number, and your company’s website. In addition to that, you need to provide the contact details of your shareholders, and people are responsible for giving the services for your company.
When it comes to shareholders, the most critical requirement is to prove that there are not convicted in your country. As a crypto exchange, you are required to follow the government guideline to run your business, and you must appoint a representative who would be responsible for compliance.
At last, if you’ve any queries and doubts about getting the crypto exchange license Estonia, talk to tour experts, guide you through, and we’ve years of experience in the vertical.