Cryptocurrency Licensing

Wallets & Exchange Licences - Estonia

Enabling you to offer cryptocurrency-based exchange or electronic wallets - enable your customers to store popular digital currencies, such as Bitcoin, Ethereum and Ripple.

      Introduction

At present, only a handful of countries regulate cryptocurrency. The most favourable country for obtaining a cryptocurrency licence for the provision of currency exchange or virtual currency wallets is Estonia.

In Estonia, the Financial Intelligence Unit issues authorisation for operating and providing services of exchanging virtual currencies against fiat currencies.

Estonia is open and friendly jurisdiction for cryptocurrency-based businesses, especially in comparison to other EEA countries. Although its government classifies cryptocurrency as being digital assets, it does not subject them to value-added tax.

Our service includes:

  • Advising on how to best structure your business model to meet regulatory conditions and requirements.

  • Guidance on preparing the application documents and information required as part of the license application.

  • Assistance and management with the preparation of the license application documents.

  • Help with obtaining a bank account and other banking facilities.

  • Assistance with company formation.

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       Timeframe to obtain the cryptocurrency license in Estonia

Estonia has an efficient authorisation process when it comes to granting licences. On average, we see licence approval within 2-3 weeks. 

 

       Types of cryptocurrency licences in Estonia

     1.    Provision of a service involving the exchange of virtual currency against a fiat currency

This licence enables the licence holder to enable its customers to exchange fiat currency, such as Euros, against a cryptocurrency, or cryptocurrency against fiat currency or a cryptocurrency against a cryptocurrency. 

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     2.    Provision of a virtual currency wallet

This licence enables the licence holder to enable provide virtual currency wallets.

       Estonia cryptocurrency business cases

     -     The Cryptocurrency license in Estonia is for the following types of firms:

     -     Blockchain businesses

     -     Cryptocurrency exchanges

     -     Companies receiving and paying using cryptocurrencies

     -     ICO projects

       Our services for establishing a cryptocurrency business in Estonia

     -     Company registration – full support and setup

     -     Obtaining the cryptocurrency license in Estonia – preparing the required documents, policies and procedures

     -     Legal support

     -     Accounting services

     -     Compliance, tax and auditing services

     -     Obtaining banking facilities

     -     Introduction to liquidity providers

       Reasons for choosing Estonia for setting up a cryptocurrency business

     -     Crypto-friendly country and regulator

     -     0% corporate tax rate

     -     Set up a company without having to visit Estonia (through e-residency)

     -     99% of banking transactions are online

     -     Strong labour market

     -     Strong research and education

     -     Good telecommunications, transportation, and IT infrastructure

     -     Quick license turnaround time (2-4 weeks)

     -     Rapidly growing economy

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What our clients say

"Buckingham Capital Consulting has been a reliable and trusted partner. They spent time understanding our business, people and processes and worked closely with us throughout the process. They completed our licencing application to a high standard and in a timely and efficient manner. We were delighted with how smooth the entire process was from the application preparation and submission but also with the case officer. Buckingham Capital Consulting ensured that our license was obtained in an efficient and smooth manner. The value and expertise they provide became obvious early on in the process. We highly recommend Buckingham Capital Consulting."

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