The ultimate guide: crypto exchange license Estonia
In spite of Estonia, being a small country with just 1.3 million people, it still is one of the most advanced countries when it comes to digital technology. There are various cryptocurrency focused companies that happen to take benefit of the favorable tax policies of Estonia. It is also the first ever company in the European union that legalized the trade of cryptocurrency. With the help of crypto exchange license Estonia, you can easily start your own cryptocurrency business in the state. You can keep on reading further for some additional information on the topic.
How to apply for the Cryptocurrency license in Estonia?
You need to, first of all, set a private limited company in Estonia in order to be able to apply for the license. The set up of the company will only take a week, and you need not even visit in order to complete the process. After your company is set up, you need to register and then apply for the crypto exchange license Estonia. All the license issue processes can be easily completed in less than a month that too without you visiting. It all includes the documentation like KYC and AML policies that is a part of the legal procedure.
The things you need to remember to form a company in Estonia are mentioned down below.
· There should at least be one shareholder in the company. There is no compulsion about the shareholder being of any nationality.
· The company board must consist of at least one member. The member of the board and shareholder can even be the same.
· In case the person does not hold the nationality of Estonia, they must have the e-residency proof.
Documents for applying for the Cryptocurrency License
· You must submit a copy of your passport along with a power of attorney.
· The website address should be provided along with a proper description of your business plan.
· Also, you must hand over a police verification certificate that is a proof for your participation in any kind of criminal activity.
The whole company formation and crypto exchange license Estonia generation process is not that tiring. It does not take that long for the process to be completed. The whole process is quite simple and fast as well, and you can do it on your own without facing any kind of problem. The e-residency program started by Estonia enables you to administer the working of the company online no matter where you are in the world.
The policies in Estonia are extremely helpful for people who want to start their own business in the field of cryptocurrency. The crypto exchange license Estonia basically deals with the exchange of virtual currency to fiat currency and vice versa. But in case you want to deal in the e-wallet or virtual token business, you can apply for other available license. The application process and fees for both of them are the same, and you can choose to deal with whichever business you want to.