Legal support of projects, related to cryptocurrencies and blockchain technologies
PACKAGE: FIRM WITH A CRYPTO LICENSE IN ESTONIA AND AN OPEN BANK ACCOUNT
The package includes:
Legal entity registered in Estonia;
License for activities in the field of alternative payment methods issued by the Financial Intelligence Unit of the Republic of Estonia. Valid throughout the European Union;
Professional AML officer, most often also a license holder. This is most important person in your company, from crypto-license point of view. De-facto AML officer must match the following criteria:
Have an appropriate financial education;
Have an appropriate experience;
Have a real knowledge of AML/KYC subjects, especially in terms of cryptocurrency;
Speak Estonian, because in most cases government officers won’t speak with you in English;
Be a local resident, because license holder could be invited by FIU for an interview at any time;
As already mentioned below, one of the reasons why all new requirements were introduced, is the lack of connection between businesses and Estonia. All Estonian crypto-license holders were getting benefits from it, but didn’t affect much Estonian economy.
And with the offices, this situation was very clear, because in a few offices in Tallinn were registered hundreds of companies. For sure, they didn’t pay the rent.
Apart from mentionead above regular conditions, you need to deposit at least 12,000 EUR share capital (with real money). If you are not comfortable with this requirement, we can deposit our own 12000 EUR as share capital. This service will cost you 2000 EUR.
4. Our company will provide you a contract (if required) and invoice
Pay attention, even if we start later, we are collecting payments already now, because we need timeframe to prepare everything and be able to provide you all the services within agreed budget.
1 day
5. You pay for a chosen period at this point
6. Once payment is confirmed, we will start working on your case
Before the date, we need to:
Review your Articles of Association;
Figure out if your shareholder/members of the board has e-residency or we need Power of Attorney;
Our company, as not only an experienced and licensed legal agency with headquarters in Tallinn, but also an active player in cryptocurrency industry (we own a few companies involved in cryptocurrency business).
Our AML officers serving in 20+ Estonian companies as license holders.
We offer you to cover all three mentioned above requirements for a single price. Our offer includes:
Valid, experienced, local AML officer;
Member of the board – local resident, who will not anyhow affect your business;
Standalone office unit;
As bonus, for all new customers, we will help you with the following free of charge:
Update your old licenses to a new type;
Give you instruction on how to increase share capital;
Opening an account for cryptocurrency projects
Is your project directly related to cryptocurrency? Then, most likely you were refused to open a bank account everywhere …
We will open an account for projects whose activities are related to the following areas:
cards issued to managers and / or employees. Card accounts are separated from the current account. Without fail, an online bank and free transaction notifications are connected.
The conditions are as follows for opening a current account:
Availability of Estonian cryptographic license;
The company must have a real office and employees in the country of registration (exceptions are possible), as well as the actual management of the company was carried out from the country of registration;
The merchant must exchange fiat for cryptocurrency instantly and not provide customers with the ability to store fiat on their balance;
The merchant must provide detailed KYC / AML procedures;
The merchant must verify customers against PEP lists and sanctions lists;
Baltic banks currently serve only the line of business – the exchange of fiat for crypto currency.
Customer service conditions are agreed individually.
The process of obtaining licenses to engage in activities related to the exchange of cryptocurrencies is a laborious process that requires time and serious preparation. In just a few jurisdictions, it is possible to obtain a license to engage in activities related to cryptocurrencies and blockchain technology.
Obtaining permission to exchange cryptocurrencies is a long and laborious process. Professional support is the key to success in resolving this issue.
Today there is no common directive or any international legislative basis that could give an exact understanding how the crypto currency industry should be regulated, however there are certain trends in the regions that are worth to be mentioned:
Countries of the South American region are not supporting the crypto currency industry and they have rather unfavorable climate for blockchain projects;
USA, Canada and Japan – all three countries have favorable legislation;
Sweden considers crypto currency as a traditional fiat currency;
Legislation of China allows only private individuals to hold and use bitcoins;
Diamont Law specialists make a thorough analysis of every project and pick up the best jurisdiction that fir most the need of the client.
What is crypto currency? How blockchain technology may help ones business? May one bring ones current business to an ICO and offer something unique to the industry? How can one implement smart contracts within the company operations?
Above mentioned questions are being asked more often last months by representatives of completely different industries. Most entrepreneurs feel, that blockchain may resolve their industries crucial security and reliability issues, however it is hard to receive a fundamental consulting on the matter.
Specialists from Diamont Law are ready to offer high quality consulting and advising on the blockchain and crypto currency exchange industries. You may always reach our assistants, and they will pick the best solution for you!
ICO Solutions from «Diamont Law» is a perfect gateway to a successful funding of your startup!
We are able to bring your startup to a successful ICO, backing your team in every aspect of the process – legal consulting, operational audit and advising, effective marketing management and technical audit.
There is one vital element on the way of every successful ICO – a proper legal support, that will help comply with regulations and eliminate issues with authorities.
Our experts are ready:
to pick up the best jurisdiction for your project in order to avoid legal issues during an ICO;
to help with a company incorporation and bank account opening in a favorable jurisdiction for your project;
to consult your team on all relevant legal and corporate structure issues, that may occur during the development;
Technological core of the project – is a crucial part of how successful will be the initial coin offering of the project.
Our specialists may offer an effective Book Building platform specifically for each project, implement advanced cyber security systems for better data protection, high level IT consulting and advising, as well as an audit of current technological assets of the project.
All our Technical Audit services are designed to serve the highest standards of our clients.
After a successful ICO, companies are faced with circumstances that prevent the use of the collected investments for the further development of the project. Our team of experienced lawyers will select the most optimal solutions for withdrawing funds after an ICO with minimal risks and losses.
MAIIA RIAZANOVA DIRECTOR OF THE COMPANY'S LEGAL DEPARTMENT
IGOR SMIRNOV LAWYER, AML COMPLIANCE, FINANCIAL LAW
Arnold Woicehovski LAWYER
CRYPTO CURRENCY EXCHANGE LICENSE
Currently the process of obtaining a cryptocurrency exchange license is a complicated and time consuming process, that requires a thorough preparation and certain experience from the side of an applicant. As of today only few countries in the world are issuing crypto currency exchange licenses. Our experts are ready to explain all advantages and disadvantages of possible jurisdictions, that currently issue licenses for crypto currency exchange.
Estonia is being considered as one of the mildest IT jurisdictions with the most favorable terms for obtaining a crypto currency exchange license for startups in the blockchain tech industry.
New crypto currency exchange and trading platforms appear every week and substantial part of them is being licensed in Estonia, as the whole process takes less time than in other jurisdictions.
Our team of experts is there to help your project to pass all necessary procedures, prepare required documents and receive final permissions from the side of the authorities.
The process of obtaining license in Japan is similar to the one in Estonia. However, there are certain terms, that Japanese authorities have set for companies that are going to be active in a cryptocurrency exchange industry.
Following are the main obligations of companies that are incorporated specifically for activities within the cryptocurrency exchange industry:
to have a physical office on the withing the jurisdiction;
deposit an authorized capital of the company on a bank account in any of the japanese banks;
In order to regulate cryptocurrencies in New York a specialized license, called Bitlicense, was issued by New York State Department of Financial Services (NYSDFS).
Since the moment the license was created only few companies were able to pass all procedures and meet all requirements of the regulator in order to receive a license. This is one of the main reasons why this type of license has lost its popularity among stakeholders.
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However if you are interested specifically in this jurisdiction – we are able to conduct the license receiving process and consult you on every step along the way. Do not hesitate to contact our consultants and ask for assistance!
DIAMONT LAW is an experienced consulting services provider with deep knowledge in blockchain and cryptocurrency market industry. Our team of professionals is ready to help to bring your project to a successful stage of an initial coin offering – ICO. We develop tailor made solutions specifically for each of our client’s requirements and we are always there to adapt to a rapidly changing and developing industry. Our field of expertise lies in areas of legal consulting, marketing strategies development and operational audit that is vital for a successful ICO of your company. We are ready to offer packaged solutions or separate tools that will help your business in the era of the rising blockchain world.
