Estonia Experience Crypto License Demand Growth – Consulting24

Estonia is the world’s first decentralized society. Being a forward-thinking Baltic nation with a population of 1.3 million, Estonia is a prime example to the entire Europe how the government can harness the power of advanced technologies such as Blockchain for good governance – Consulting24.co

Although cryptocurrency is not a legal tender in Estonia, the government does not restrict digital currency flow in its economy. It has legalized cryptocurrency exchange and crypto-wallet service providers with a proper license. Estonia has issued more than 1,000 licences to various cryptocurrency companies.

If you plan to set up your crypto exchange or wallet service, you’re required to obtain a dedicated license. Our team of local consultants Consulting24 is well-versed with the Estonian laws and regulations on cryptocurrency and company formation. They’ll assist you with the entire procedure of successfully getting the crypto license, right from the paperwork to filling your application on your behalf.

Read on, as we explain the different types of cryptocurrency licenses, and walk through the process.

There is one crypto license in Estonia- virtual currency service provider license.

Virtual currency service provider license covers:

1. Virtual wallet service.

It allows providing hot and cold virtual currency wallet service, generating or storing users keys to keep, store and transfer virtual currencies;

2. Exchanging virtual currency against fiat currency. Licenses allow fiat to crypto, crypto to fiat transactions;

3. Exchanging virtual currency against the virtual currency. Licenses allow crypto to crypto transactions.

The cryptocurrency companies operating in Estonia have to zero taxes on their business profits.

Registering your crypto business in Estonia can be done remotely, and the license can be obtained without the need to land in the country, with our representative. However, FIU has the right to request you to come over for a personal meeting in their office, in Tallinn, Estonia’s capital.

The entire process to obtain the license is straightforward and swift; one of the dedicated consultants will guide you to successfully register your Estonia company.

How To Get A Crypto License In Estonia with Consulting24

Before you apply for the crypto license, you’ve to register your company.

Step1: Check the business name’s availability, pay the registration fee, and submit the application.

Step2: In the next step, you’ll have to register for VAT at the custom and tax authority. This will take a couple of days.

Step 3: Register employees throughout the employment register.

Once you’ve set up your company, submit your application for the license with the FIU, and you can expect the answer within one month.

Mardo Soo, CEO of Consulting24, commented:

“We will see crypto regulation coming out everywhere, we already see Estonia will be the biggest winner. Because what everybody loves in Estonia is that the license allows onboard clients globally and we have 0% corporate tax, which is the best to build a business.”

At Consulting24, we can help you get the Estonian cryptocurrency exchange, wallet, or both licenses and book a FREE consultation today. If you have any query, you can talk to our crypto consultant +372 5815 5779, or you can mail us at info@consulting24.co in case you’ve any doubt.