Requirements of Crypto Exchange License in Estonia
When you think of trying your hands on the cryptocurrency world, it is important that you obtain a license to kick-start your crypto exchange license in Estonia. There are a series of ways to get a license. Some of the traders try to contact the cryptocurrency officials to know the process, whereas other smart traders associate with the crypto exchange license agents helping you to wind up the process in minimal time possible.
Having a Crypto Exchange License in Estonia permits the licensed crypto expert to exchange it for any fiat currency, whenever required. Also, this makes you eligible to exchange cryptocurrencies in different stores located in Estonia.
The Basic Requirements of Getting a Crypto Exchange License in Estonia-
You must have an incorporated Estonia based company with at least 2,500 Euros of the authorized capital amount invested into it. However, the amount of 2,500 Euros does not come under the mandatory requirements to get a license, but it is important if you want to avail of the license under a reputed company authorization. A company with a basic investment of 2,500 Euros is considered trustworthy enough to invest in.
1. The company must have 1 shareholder
2. Must have 3 council members
3. 1 board member
4. 1 person to take responsibility for International Financial Sanctions, AML (anti-money laundering), and for the state authorities' communication process. Passing the rigid tests of AML requirements is important to avoid any money laundering or financial crime cases.
Note- The board member and shareholder can be the same person depending on the roles played in the organization.
Necessary Documents Required Getting the Crypto Exchange License in Estonia-
1. Marriage certificate (this is important to mention, so in case of the presence of a spouse, the details can be forwarded to the spouse, and if not, it is sent to any third-party).
2. Clearly visible scanned copy of passport
3. Contact information of the cryptocurrency exchange company founder. These details may include vital information like- email address, phone number, original residential address, registration, etc.
4. Legal address details
5. Company name with address
6. Company’s contact details
If you have a cryptocurrency exchange license agent in Estonia associated with you, it becomes easier to have access over the minor details of the process and documentation requirements.
These details are demanded once you have incorporated a cryptocurrency company in Estonia on an official note. To accomplish this process, you require to open a corporate bank account as well.
The Bottom Line- Estonia is one of the leading and completely digital countries in the world which tops the cryptocurrency business expansion and scope. As they majorly deal with digital transactions, this ten folds the chances of utilizing the cryptocurrencies at different stores, shopping malls, restaurants, hotels, etc. to pay off your bills. To get the crypto exchange license in Estonia, you can associate with an Estonia based agent who helps to fasten the process, assists in the documentation requirements, and other relevant aspects of the process.