How to Start a Blockchain Company in Estonia?
In case, you are planning to start a blockchain company in the most advanced digital nation of 2020-Estonia, then sit back and relax as we provide you with a simplified guide to starting a digital blockchain company in Estonia. To all those budding entrepreneurs out there who wish to establish their names in the crypto-industry, Estonia is the perfect place for investing in cryptocurrency, thanks to the secure Blockchain technology used to ensure integrity and protection of information.
At Consulting24, our team of experts are always ready to provide professional guidance and assistance to budding entrepreneurs who want to launch a startup in Estonia.
From helping you register your company to obtain a cryptocurrency exchange license in Estonia to providing you guidance for opening a bank account and dealing with all the legalities, we are there to help you.
What Do You Need to Start a Blockchain Company in Estonia?
We are sure that at first, planning to start a blockchain company in Estonia with less prior knowledge can be intimidating, but don't worry. At Consulting24, our clients have our back from the initial process of getting a company registered in Estonia to the time when your company starts fully operating. Before getting a blockchain company registered in Estonia, the first step is to obtain e-residency in Estonia.
Obtaining a Cryptocurrency Exchange License in Estonia
First of all, to launch a crypto-startup in Estonia, you will be required to get a license from the government of Estonia. There is no doubt that for running a business legally and to build faithful relationships with customers, it's essential to acquire a government-backed license and ensure that you run your startup keeping in mind the policy framework of the Estonian government.
It's worth mentioning here that you'll be required to pay an amount of 3,300 EUR as fees to file an application to the Estonian Ministry of Finance for a single cryptocurrency license. Also, make note that you will be required to submit the details of the employees or the members of your company. You should ensure that before the activities in your company commence, you should list out the managing authorities of your company.
In addition to the above details, you have to provide the address details of your startup.
Also, during the application process, you have to specify the "main area of activity" which will be the source of your income.
Don't forget to select a unique name for your Blockchain company during the registration process. So, conducting a company search is also a crucial part of the registration process.
As said earlier, to set up a business in Estonia, you have to open a bank account for the transactions.
You have three options for banking: an account with an Estonian bank, account with a bank within EEA or a payment institution within EEA. You will have to undergo an authentication process with your digital ID card from the payment institution to open your bank account.