Crypto-license in Estonia
Today, Estonia is defacto a single jurisdiction in EU that provides a trustworthy cryptocurrency license
View license requirementsWhy in Estonia
The value of any license - is its acceptance by official departments and financial institutions. The Estonian crypto-license is recognized everywhere, due to the fact that it is constantly being improved and meets all international standards. This is a full-fledged financial license, and not just a notice of activity.
Why license
Estonian cryptolicense allows you to provide all the crypto-related services and stay in a safe, legal field.
Its also a great way to gain trust of your customers. Cryptocurrency itself is an independent means of payment and is often used in scams. However, a licensed company has same level of responsibility as traditional fiat-involved financial businesses.
And in case you want to attract investments, or planning to sell project later, crypto-license will significantly rise your company value.
Speak with attorney
Submit an applicationWe are online, write to us
Telegram
WhatsApp
+372 58854563
contact@diamont.ee
Rotermanni 6, 10111, Tallinn, Estonia
Official requirements
AML
Member of the board
Share capital
Office
Other
Crypto-wallet services
Crypto-exchange involved
Education
Higher education in finance
Higher education in finance
Real knowledge
Tested during an interview at FIU
Tested during an interview at FIU
Experience
2 years minimum
2 years minimum
Certification
AML certification required
AML certification required
Residency
Must be Estonian resident
Must be Estonian resident
Working places
Can only work for 1 crypto-company at a time
Can only work for 1 crypto-company at a time
Crypto-wallet services
Crypto-exchange involved
Real knowledge
Tested during an interview at FIU
Tested during an interview at FIU
Education
Higher education in finance
Higher education in finance
Working places
Can work in 2 crypto-companies at a time
Can work in 2 crypto-companies at a time
Residency
Must be Estonian resident with residential local address proof
Must be Estonian resident with residential local address proof
Crypto-wallet services
Crypto-exchange involved
Amount
100,000€
250,000€
Form
Contributed in cash, not with other assets
Contributed in cash, not with other assets
Availability
Funds availability is limited
Funds availability is limited
Crypto-wallet services
Crypto-exchange involved
Location
Estonia
Estonia
Status
Real office with a working person and related documents on the shelves
Real office with a working person and related documents on the shelves
Uniqueness
No other companies should be registered in your office
No other companies should be registered in your office
Crypto-wallet services
Crypto-exchange involved
License application state fee
10,000€
10,000€
State fee for change in company structure
4,000€
4,000€
Bank account
Corporate bank account must be opened in EU bank
Corporate bank account must be opened in EU bank
Business plan
Business plan for at least 2 years is required
Business plan for at least 2 years is required
Audit
Annual financial audit must be performed by a sworn auditor
Annual financial audit must be performed by a sworn auditor
Bookkeeping
Must keep accounting in accordance with local rules
Must keep accounting in accordance with local rules
Software
Software must be developed by a licensed company for security reasons
Software must be developed by a licensed company for security reasons
The total cost:
20,000€
What is included in the price
View additional services
Speak with attorney
Submit an applicationWe are online, write to us
Telegram
WhatsApp
+372 58854563
contact@diamont.ee
Rotermanni 6, 10111, Tallinn, Estonia
Services included
Legal entity
Estonian legal entity in a form of OÜ (private limited company). Private persons or another company may be registered as shareholders.
Member of the board
Local member of the board, hired for 3 months. Person meets all crypto-license requirements.
3 months
Crypto-license
End-to-end legal support for obtaining a crypto-license.
State fee
Company registration state fee in the amount of 265€ is included. License application fee is not included.
AML specialist
Local AML specialist, hired for 3 months. Person meets all crypto-license requirements.
3 months
AML/KYC document
Internal control system document for ensuring compliance with the control requirements of the European Union AML/CFT and international Sanctions. It is a core license document.
Business plan
Business plan for 2 years, with respect to your business model. Necessary part of crypto-license application.
Corporate documents
Incorporation documents, including information about members of the board and shareholders. License status document.
Office
Physical office in Tallinn, for a period of 3 months. Office meets all crypto-license requirements.
3 months
Bookkeeping
Bookkeeping service for a period for 1 month.
1 months
Initial consultation
Initial consultation regarding the best practices in crypto-related activity and taxes.
Order a lawyer's consultation
Submit an application
Extra services
AML specialist
Local AML specialist. Estonian resident, with experience in financial sector and corresponding education.
3 months
7,500€
6 months
12,000€
12 months
12,000€
Member of the board
Local member of the board. Estonian resident, with experience in financial sector and corresponding education.
3 months
7,500€
6 months
12,000€
12 months
12,000€
Office
Physical office in Tallinn. Office meets all crypto-license requirements.
3 months
600€
6 months
1,050€
12 months
1,800€
Audit
Financial audit by sworn auditor. Required annually, starting 15th June, 2022.
Price:
2,900€
Bookkeeping
Bookkeeping service.
3 months
450€
6 months
720€
12 months
1,200€
EORI
The Economic Operators Registration and Identification (EORI) number is a unique identification number used in the customs territory of the European Union and assigned to an economic operator or other person by a customs authority in order to register that person for customs purposes.
Price:
450€
Consultation
Additional consultation regarding the best practices in crypto-related activity and taxes.
1 hour
150€
3 hours
400€
10 hours
1,050€
VAT
VAT (value-added tax) number.
Price:
500€
How is the creation of a crypto-license
Shareholder is a private person
Shareholder is a foreign legal entity
Shareholder is a private person
01
Prepayment
We issue an invoice, and you make a 50% prepayment + pay for all chosen additional services in full.
02
Documents from your side
From shareholder
01 Copy of passport main page, notarized;
02 Power of attorney, notarized and sworn-translated into english (we will provide you a template);
03 Proof of residential address;
04 Certificate of a good conduct.
Other
01 Description of the planned business activity
03
Neccesary preparations
Our lawyers make all the preparations:
01 Ensure proposed company name is available to register
02 Establish an Estonian legal entity with a desired name
03 Assign a legal address to a company
04 Write an Internal Control System document*
05 Fill all the neccesary forms, required for a license application
* Internal Control System document - is a core document for license application. It regulates how you ensure compliance with the control requirements of the European Union AML/CFT and International Sanctions.
04
You pay the rest 50% at this point
We issue an invoice and you pay the remaining 50%
05
Finishing touches
01 We assign to company a valid AML officer
02 Onboard a valid member of the board
03 Open a corporate bank account in EU payment institution
04 Create a business plan for 2 years, required for application (or adapt yours if exists)
05 Rent a physical office for your company
06
Share capital increase
Share capital must be contributed in the amount specified for your type of license.
07
Application submission
We submit an application to the Ministry of Economic Affairs and Communications. Within this period, the assigned AML specialist will be invited for an interview at Estonian Police and Border Guard Board.
08
License issuance
If there was no indication of deficiencies, the license is granted.
All indicated time frames are illustrative. The timing may depend on many factors, such as but not limited to: the number of public holidays, the time of delivery by courier, the workload of government departments. We do not take responsibility for the delays beyond our control.
Shareholder is a foreign legal entity
01
Prepayment
We issue an invoice, and you make a 50% prepayment + pay for all chosen additional services in full.
02
Documents from your side
From company that will hold shares
01 Incorporational documents, including those, where members of the board and shareholders are specified (notarized and sworn-translated into english);
02 Articles of Association, notarized and sworn-translated into english.
From member of the board of the company that will hold shares, who have a full representation right
01 Copy of passport main page, notarized;
02 Power of attorney, notarized and sworn-translated into english (we will provide you a template).
Other
01 Description of the planned business activity.
03
Neccesary preparations
Our lawyers make all the preparations:
01 Ensure proposed company name is available to register
02 Establish an Estonian legal entity with a desired name
03 Assign a legal address to a company
04 Write an Internal Control System document*
05 Fill all the neccesary forms, required for a license application
* Internal Control System document - is a core document for license application. It regulates how you ensure compliance with the control requirements of the European Union AML/CFT and International Sanctions.
04
You pay the rest 50% at this point
We issue an invoice and you pay the remaining 50%
05
Finishing touches
01 We assign to company a valid AML officer
02 Onboard a valid member of the board
03 Open a corporate bank account in EU payment institution
04 Create a business plan for 2 years, required for application (or adapt yours if exists)
05 Rent a physical office for your company
06
Share capital increase
Share capital must be contributed in the amount specified for your type of license.
07
Application submission
We submit an application to the Ministry of Economic Affairs and Communications. Within this period, the assigned AML specialist will be invited for an interview at Estonian Police and Border Guard Board.
08
License issuance
If there was no indication of deficiencies, the license is granted.
All indicated time frames are illustrative. The timing may depend on many factors, such as but not limited to: the number of public holidays, the time of delivery by courier, the workload of government departments. We do not take responsibility for the delays beyond our control.
Ready-made companies
Dont want to wait? Buy the ready-made company already with license.
Bitinterpay OÜ, active business (2018)
Providing a virtual currency services
#FVT000343
250,000€
ICBtransfer OÜ (2020)
Providing a virtual currency services
#FVT000056
150,000€
Speak with attorney
Submit an applicationWe are online, write to us
Telegram
WhatsApp
+372 58854563
contact@diamont.ee
Rotermanni 6, 10111, Tallinn, Estonia
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Contact our lawyer for advice
We are online, write to us
Telegram
WhatsApp
+372 58854563
contact@diamont.ee
Rotermanni 6, 10111, Tallinn, Estonia