Crypto License in El Salvador

El Salvador is the first country to recognize Bitcoin as legal tender, creating a favorable environment for cryptocurrency operations.

Expertise

Our team has extensive experience in cryptocurrency regulations and business law.

Personalized Service

We tailor our services to meet the unique needs of your business.

Comprehensive Support

From initial consultation to ongoing compliance, we provide end-to-end support. 

Why Choose El Salvador?

Crypto-Friendly Environment

El Salvador has pioneered the use of Bitcoin as legal tender and offers clear regulations under the Digital Asset Issuance Law.

Tax Advantages

Profits from cryptocurrency activities are exempt from taxes, providing significant financial benefits.

Strategic Location

El Salvador’s progressive approach to cryptocurrency makes it an ideal base for accessing global markets.

Types of Crypto Licenses

Bitcoin Service Provider (BSP) License

For businesses focusing solely on Bitcoin services.

Digital Asset Service Provider (DASP) License

For companies offering a variety of digital asset services.

Detailed Licensing Process

Document Preparation and Analysis

Ensuring all documents meet local regulatory standards.

Company Registration

Establishing a legal business entity in El Salvador.

License Application

Submitting the application to the National Commission for Digital Assets with all required documentation.

Payment Account Setup

Opening a bank account with a crypto-friendly institution.

IT Solutions for AML/CFT

Implementing robust anti-money laundering (AML) and counter-financing of terrorism (CFT) measures.

Cost and terms of obtaining a cryptocurrency license in El Salvador:

Standard Package

^$14 900
- Legal consultation
- Company registration
- Crypto license acquisition
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Advanced Package

^$19 900
- Includes all Standard Package services
- AML policy implementation
- Assistance with setting up payment accounts
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Premium Package

^$26 900
- All services in the Advanced Package
- Accounting support
- Organizational efficiency consultation
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Requirements for Obtaining a Crypto License

Business Plan

A detailed business plan outlining your operations and strategy.

Co-founders

At least two co-founders are required for the application.

Customer Identification Process

A system for identifying and verifying clients.

AML/CFT Compliance

Strong measures to ensure compliance with anti-money laundering and counter-terrorism financing laws.

Cybersecurity Protocols

Implementation of secure measures to protect digital assets and transactions.

No capital required

Even though legally it is not required to have a minimum capital amount, we still recommend registering 2000 USD. In EL Salvador you can pay only 5% of the capital at the beginning

Contact our sales department and we will tell you about the procedure for obtaining the license

Our company has been dealing with issues emerging in the crypto license’s acquisition process in the EU since 2015. In total, we have helped over 500 clients from different parts of the world obtain licenses and start their business. Reach us today and we will be happy to discuss the details and answer any questions you may have.

Submit an application Submit an application

Steps in the Licensing Process

Initial Consultation

Discuss your business goals and the specific requirements for a crypto license in El Salvador.

Preparation of Documentation

Comprehensive assistance in preparing all necessary documentation, including your business plan, identification documents for co-founders, and compliance policies.

Company Formation

Guidance through the process of legally registering your company in El Salvador.

Application Submission

Support in compiling and submitting your license application to the relevant authorities.

Account Setup

Assistance in opening a bank account with a crypto-friendly bank to facilitate your operations.

Compliance Implementation

Implementation of IT solutions for AML/CFT to ensure your business meets all regulatory requirements.

Ongoing Support

Continuous support to maintain compliance and operational efficiency.

Experts in the field

Dmitry M. Head of Sales Department Contact

Mark M. Sales Representative Contact

Nurlan M. Lawyer Contact

FAQ

What is a crypto license in El Salvador?

A crypto license allows businesses to operate legally in the cryptocurrency sector, including services like trading, custody, and issuance of digital assets.

Who can apply for a crypto license?

Any legal entity with at least two co-founders can apply, provided they meet the regulatory requirements set by El Salvador's authorities.

What are the types of crypto licenses available?

El Salvador offers Bitcoin Service Provider (BSP) licenses for Bitcoin-only services and Digital Asset Service Provider (DASP) licenses for a wider range of digital assets.

What documents are required for the application?

Required documents include a detailed business plan, identification for co-founders, AML/CFT compliance policies, and cybersecurity protocols.

How long does the licensing process take?

The process typically takes several weeks, depending on the completeness of the application and the response time of regulatory bodies.

What are the tax benefits of obtaining a crypto license in El Salvador?

Profits from cryptocurrency activities are exempt from taxes, making it financially advantageous to operate in El Salvador.

What is the cost of obtaining a crypto license?

Costs vary by service package, ranging from $19,900 for the Standard Package to $49,900 for the Platinum Package, which includes comprehensive support.

What compliance measures are required?

Businesses must implement anti-money laundering (AML) and counter-financing of terrorism (CFT) measures to meet regulatory standards.

Can foreign companies apply for a crypto license?

Yes, foreign companies can apply, but they must establish a legal entity in El Salvador.

What is the role of the National Commission for Digital Assets?

The National Commission for Digital Assets is the regulatory body responsible for overseeing the issuance of crypto licenses and ensuring compliance with local laws.

Is it mandatory to have a bank account in El Salvador?

Yes, a bank account with a crypto-friendly institution in El Salvador is required for operational and regulatory purposes. What cybersecurity measures are necessary? Robust cybersecurity protocols must be in place to protect digital assets and ensure secure transactions.

What is the difference between BSP and DASP licenses?

BSP licenses are for businesses focusing on Bitcoin services, while DASP licenses cover a broader range of digital asset services.

How does AdamSmith Law Firm assist in obtaining a crypto license?

AdamSmith Law Firm provides end-to-end support, including legal consultation, document preparation, company registration, and compliance implementation.

What happens if my application is denied?

If an application is denied, applicants can review the reasons provided by the regulatory body, make necessary adjustments, and reapply with the assistance of AdamSmith Law Firm.

Do you want to obtain a crypto license in El Salvador?

El Salvador offers a unique and advantageous environment for cryptocurrency businesses. With AdamSmith Law Firm’s expert guidance, you can navigate the licensing process smoothly and efficiently, ensuring your business complies with all legal requirements and is set up for success in the global crypto market.