Setting up a Crypto Company in Malta vs. Estonia
Updated: Jan 8, 2020
In the last decade with the mushrooming of crypto currencies, Europe has grown onto to become the breeding ground for electronic currency-related companies and Blockchain-powered ventures. Today, we’ll be talking up two powerhouses of Europe it comes to launching your crypto business- one is Malta and other being Estonia.
So, let’s first take a look at Estonia:
As per the latest data provided by the Estonian government, there are around 700 foreign crypto and Blockchain-based businesses operative in this world’s first digitized nation. These impressive numbers are mainly because of the Estonian government initiatives to foster crypto culture into the economy.
The process to establish an Estonia Blockchain/cryptocurrency business is transparent & efficient. You can apply for company registration via the government portal; this won’t take more than 20 minutes. In case, you are making foreign investment in Estonia, and then you’ll have to obtain an e-residency ID card.
One of the big reasons why Estonia has become a dominant force in the European crypto industry is its relatively low fees for obtaining a license to launch a business in the country.
You can start your company in Estonia, without the need to have a local address or to have a minimum employee size. In addition, the entrepreneurs are allured by the 0% tax policy of the Estonian government. Experts believe that in the near future, the timeline for the setting up of the company will be extended from 90 to 180 days.
In a nutshell, if you are planning to fast and affordable place to set up your crypto business, then Estonia is a perfect choice.
Setting Up Your Crypto Business in Malta
Malta is another destination which has become popular among the crypto investors. Just like Estonia, the policy of setting up a company in Malta is quite favorable. In recent times, investors from different parts of the world are starting their crypto and Blockchain venture here. In comparison to Malta, the timeline for the crypto license to get approved is slightly longer, but not by much. Furthermore, the fees associated with starting a business in Malta is on the higher side. So, you need to take this into account when deciding between Estonia and Malta. Company formation UK offers a myriad of options based on your bespoke business goals & budget.
Apart from the longer application approval time, the banks here are somewhat reluctant to opening crypto bank accounts. The entire procedure can take up to six months. Plus, in Malta, you’ll have to deal with the complex application process for a crypto license.
New laws and ruling over cryptocurrency encourage business development in Malta while maintaining market integrity. The transparency of the Malta government protects the interest of investors worldwide. This has undoubtedly contributed to Malta’s building a credible image in entire Europe as a favorable crypto country.
In the End So, now the ball in your court, you’ll have to weight a manifold of factors to choose between Estonia & Malta.
We would love to hear from you, share your views in the comment section of this blog post!