Crypto license in Estonia

Estonia is one of the first jurisdictions in the EU where cryptocurrency licences have become widespread.
One of our offices is located in Tallinn city, and we actively help our clients in obtaining and adapting crypto licenses issued by Estonian regulator.
We are ready to carry out a detailed consultation and prepare all the necessary documents.

Submit an application for a crypto licence in Estonia Submit an application

Benefits of obtaining a cryptocurrency licence in Estonia:

company protection from suspicion of money laundering

Due to the new regulations regarding cryptolicense in Estonia, a company that meets all the necessary Estonian requirements for this licence will be protected from all sorts of checks for suspicion of money laundering and possible closure of the company, as it is regulated by the Estonian AML legislation on a par with financial institutions.

low tax rate

A clear example of low taxation is the zero percent corporate income tax. Thus, this profit can be invested in the development of the company, which is ideal for a start-up business. As for turnover tax (VAT), it should be noted that bitcoins and altcoins will not be subject to this tax. Estonia has the lowest and most affordable prices for cryptocurrency licences compared to other EU countries.

online company management

Estonia is known to be a leader in internet technology, which has been developing more and more in recent years. This achievement makes it possible to open access to all government services, which in turn makes communication with government organisations easier and saves You time.

Do you want to obtain a crypto license in Estonia?

If you are interested in getting a crypto license in Estonia, where cryptocurrency is legalised and protected, and where cryptocurrency businesses are regulated like financial institutions at the legislative level, do not hesitate to contact our specialists for help!

Submit an application Beantragen

Our services include:

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Crypto licence for the exchange and custody of securities Licensing of additional cryptocurrency-related services, including: Investment crypto-fund registration Legal support for ICO/IEO projects Preparing a legal opinion
Managing an online cryptocurrency exchange platform Escrow service Capital management up to €500 million Project research Internal audit of the client’s project
Exchange between cryptocurrency and fiat currency pairs Loans in virtual currency backed by fiat currency Attracting non-professional (retail) investors Advice on token solutions Exploring suitable legislation in relation to the project
Cryptocurrency storage service Stacking Cryptocurrency portfolio management Recommendations on the choice of jurisdiction Legal opinion/legal analysis of the case
Cryptocurrency transfer NFT digital art auction Complete anonymity of fund investor data Preparation of supporting legal documents
Investment support (provision of trading signals) Financial liability of investors is limited to the amount of their contribution
Coordination of financial transactions involving cryptocurrency

Estonia is an attractive jurisdiction for starting a cryptocurrency business

Before the strengthening of requirements for cryptocurrency businesses, it was easy to obtain a cryptocurrency licence in Estonia in a short period of time, with crypto-assets that could be handled from anywhere in the world. This favourable and easy registration environment for cryptocurrency companies has triggered their rapid growth, which in turn has increased industry risks and led to stricter regulations for cryptocurrency licences, applying the Resolution on Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT).

Another main reason for this strengthening of regulations was the discovery of suspicious transfers amounting to more than a hundred billion dollars in one Estonian branch of a Danish bank called Danske Bank. There are now only about 400 licensed cryptocurrency companies in Estonia. For this reason, it is very important to have the right kind of help for starting a cryptocurrency business, which is exactly what our company Adam Smith can provide.

New cryptocurrency business rules in Estonia:

Due to the updated regulations regarding cryptocurrencies, all necessary documents for cryptocurrency licences must now be submitted either to a notary’s office or through the Commercial Register website, the review process has lengthened twice and is now 120 days instead of 60 as it was before.

As for having a physical office, this is currently a necessary requirement for obtaining a crypto licence. In turn, this office presence can improve management and control of the company, as well as protect the assets and rights of clients.

For cryptocurrency companies in Estonia, the mandatory requirement is that at least one general manager of the company is an Estonian resident.

In order to obtain a cryptocurrency licence, the regulator requires an account to be opened with a European payment system or bank. However, this process often requires skilled legal assistance, which our firm Adam Smith can offer; we will find the best banks to open a bank account for your cryptocurrency business.

The share capital for obtaining a crypto licence is currently equal to €100,000 or €250,000. It is also important to note that since 2022, the state fee for a crypto licence has been changed to €10,000, from just €3,300 before the regulations change.

Also, another change is that all members of the company must have a spotless reputation without any criminal record or involvement in fraud. Along with this, all members of the company will also be required to present non-conviction certificates. This can also be confirmed by the fact that with the introduction of new regulations concerning cryptocurrency activities, these services have become subject to regulation by the Estonian AML legislation, which previously applied to financial institutions only.

Provision of AML and financial audit for a crypto company.

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AML audit by agreement
Financial audit by agreement

For adaptation of the cryptocurrency licence under new regulations please contact with our lawyer

Thus, the above legislative changes in relation to cryptolicence show a general picture of the new requirements in the conduct of this kind of business. However, it is important to understand that introducing such stricter requirements is a significant market advantage, as at the moment cryptocurrency activity in Estonia is controlled in the same way as fiat money.

So we can say that cryptocurrencies have been equated with alternative means of payment, unlike in many other countries where cryptocurrencies are still not regulated by the state and anyone who starts a business in such places risks having it shut down due to suspicion of money laundering or other similar frauds. It can also be noted that Estonia is still the most attractive country for setting up a cryptocurrency business, despite the recent change in legislation.

Comparative table of the best cryptocurrency jurisdictions in the EEA in 2023

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Country of cryptocurrency jurisdiction Estonia Lithuania
Approximate timeframes 4-6 months 1-2 months
Share capital €100.000 or €250.000 €125.000
Company registration cost €1100 €1200
Corporate tax 0% 5% (annual gross income is less than 300 000 EUR) and 15% (annual gross income is more than 300 000 EUR)

Do you want to obtain a crypto license in Estonia?

If you are interested in getting a crypto license in Estonia, where cryptocurrency is legalised and protected, and where cryptocurrency businesses are regulated like financial institutions at the legislative level, do not hesitate to contact our specialists for help!

Submit an application

Our other services:

  • Company registration in Estonia

    We can register your company in Estonia in a short period of time, and it will have an excellent reputation and low tax rates. You will be able to manage your company remotely from anywhere in the world.

    Read more
  • Crypto license in Lithuania

    A European Economic Area jurisdiction that is very supportive of cryptocurrency and has a large number of registered EMIs and operating within its borders. It also has stable legislation close to upcoming amendments to MiCA regulations.

    Timeframe: 3 weeks
    One-time fee: 3 500 EUR

    Read more
  • Business consulting

    Our specialists are ready to provide you with business consulting services. We will carry out a full analysis of your company business processes, find the weakspots and the quickest and most appropriate solutions to eliminate them.

    Read more
Frequently Asked Questions
Is cryptocurrency legal in Estonia?
Cryptocurrency usage in Estonia is absolutely legal. For the purpose of business management, crypto companies are subject to "Law on preventing money laundering and financing of terrorism".
Who can build a crypto company in Estonia?
A company can be established by any natural person(/physical entity), regardless of residence but founders must appoint a director from the number of Estonian residents. All of the people related to the company must provide a certificate of good conduct.
Which agency regulates crypto company activities in Estonia?
Financial Intelligence Unit (FIU) regulates and controls all the crypto business in Estonia.
What is the validity period of a cryptocurrency license in Estonia?
The license is issued for an indefinite period.
In what amount should I deposit the capital of the company in order to begin a cryptocurrency company in Estonia?
In order to get the authorization it is required to deposit authorized capital starting from 100 000 up to 250 000 euro, the total amount depends from the activities desired to be conveyed.
How is a crypto company in Estonia taxed?
Tax on retained earnings is 0%.
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