Estonia is a member of the European Union and Schengen agreement that attracts investors for immigration and business purposes. The country is considered as an alternative jurisdiction for companies registration and purchase by non-residents having its liberal tax system and dynamic business environment.
Today, Estonia offers the registration of cryptocurrency companies with the possibility of obtaining a license for this type of activity. It is also possible to buy a ready-made company with a valid license. Companies that obtained cryptocurrency and virtual currency license are entitled to provide services for exchanging, circulating, transferring and storing virtual currency.
Mandatory requirements for crypto license obtaining:
- Legal address and real office;
- Own communication services: telephone, e-mail;
- Registered domain;
- Qualified employee(s) officially employed by the company and get their salary;
- A person responsible for money laundering control should be designated among these employees;
- A person responsible for sanctions compliance should be designated;
- It is advisable for the company’s board member to obtain e-Residence in Estonia to be able to submit and sign documents remotely;
- It is advisable that the member of the Board of Directors has the appropriate qualifications, which are close to the company’s field of activity and have a physical presence in Estonia.
Advantages of registering a company in Estonia:
- Government of Estonia has signed over 50 DTT’s including Belarus, Kazakhstan and Ukraine;
- Getting a VAT number for Estonian company will reduce the tax on sales of goods between EU countries to 0%;
- There is no currency control that means you can keep your funds in other countries without any restrictions;
- An opportunity to obtain e-residence allows you to have access to the services of government portals, to register a company without physical presence in Estonia and to make transactions through Internet banking, as well as to put your digital signature on agreements;
- The shareholder and director of the company may be non-residents of Estonia and the EU;
- When registering a company, it is not necessary to pay an authorized capital in amount of 2 500 EUR;
- The right to buy real estate for the company without additional taxes;
- Ability to obtain a license for cryptocurrency business purposes;
- The Estonian banking system has good credit ratings, developed IT infrastructure and convenient Internet banking. The procedure of company registration and EORI number obtaining have been simplified in Estonia.
However, some local companies may not be able to open a bank account which is related to activities or relation to the country. Our specialists know how to increase the chances for bank account opening in Estonia or can always offer you an alternative option such as using a payment system. Not all the banks cooperate with non-resident companies.