Anyone applied for Estonian cryptocurrency exchange/wallet licenses?

[Tivadar]

Hey all,

we're in the process of founding a company in Estonia online as e-residents. Our company will work with crypto, so we'll need one or both cryptocurrency licenses.

Please reply if you applied for them! Did you do it by yourself? Did you use a law firm? Which one? How difficult/complex was it? Would you recommend applying for it ourselves? Technically speaking, where can we get English information how & where to apply?

Thanks a lot, ANY info on this subject is valuable!

[WaynedeJongh]

Hi, there, very easy process, costs 100 Euro and takes about 30 minutes, nothing to it, very easy. You can either apply online, or in person. But you have to collect your e-resident card in person

[Tivadar]

Hey WaynedeJongh, thanks for the answer, although I asked about the two *cryptocurrency licenses*, not the e-residency. Those are two very different things!

--

So, anybody have info on the application for the two cryptocurrency licenses as a company in Estonia?

[Tivadar]

Nobody applied for any of the licenses? We'll be the first ones? Ever?

[eternalgloom]

Is it really worth it? I mean, they do have pretty high capital gains taxes, I don't know what rates they offer for businesses/exchanges, but I would assume it's not cheap.
This is an article from 2017, from someone who looked into getting Estonian e-residency specifically for crypto-trading, but had some issues with it.

https://medium.com/@hanzholdinworth/as-a-bitcoin-and-cryptocurrency-trader-the-use-of-e-residency-for-identification-in-online-121b7cc95b60

[Tivadar]

Is it really worth it? I mean, they do have pretty high capital gains taxes, I don't know what rates they offer for businesses/exchanges, but I would assume it's not cheap.
This is an article from 2017, from someone who looked into getting Estonian e-residency specifically for crypto-trading, but had some issues with it.

https://medium.com/@hanzholdinworth/as-a-bitcoin-and-cryptocurrency-trader-the-use-of-e-residency-for-identification-in-online-121b7cc95b60

We already did legally found the company (helloCoin OÜ) so we'll launch our MVP with this, definitely. They have legislation regarding crypto, which is way better than not having anything because there is no risk of seriously restrictive future legislation.

We'll need to apply for this two crypto license, so that's the question of this topic: anyone did apply for it? how was it?

[Tivadar]

Alright, we already found another member with an Estonian crypto company - let's keep this up. Let's gather and share the best practices about company starting, accounting and licence application.

We incorporated our company with them: https://nordicconsult.ee/en/
But have not chosen an accounting service yet, and not started the crypto licenses either. The licenses, if we delegate the task to a law firm, cost about 3000-4000 EUR together.

Please share if you have additional info!

[altugozturk]

Alright, we already found another member with an Estonian crypto company - let's keep this up. Let's gather and share the best practices about company starting, accounting and licence application.

We incorporated our company with them: https://nordicconsult.ee/en/
But have not chosen an accounting service yet, and not started the crypto licenses either. The licenses, if we delegate the task to a law firm, cost about 3000-4000 EUR together.

Please share if you have additional info!

Thanks for this info, I was looking for such a service. =)

[Tivadar]

Alright, we already found another member with an Estonian crypto company - let's keep this up. Let's gather and share the best practices about company starting, accounting and licence application.

We incorporated our company with them: https://nordicconsult.ee/en/
But have not chosen an accounting service yet, and not started the crypto licenses either. The licenses, if we delegate the task to a law firm, cost about 3000-4000 EUR together.

Please share if you have additional info!

Thanks for this info, I was looking for such a service. =)

Great! Please let us know here if you have tips on accounting & crypto licenses.

[breaktime]

Alright, we already found another member with an Estonian crypto company - let's keep this up. Let's gather and share the best practices about company starting, accounting and licence application.

We incorporated our company with them: https://nordicconsult.ee/en/
But have not chosen an accounting service yet, and not started the crypto licenses either. The licenses, if we delegate the task to a law firm, cost about 3000-4000 EUR together.

Please share if you have additional info!

Is that cheap in estonia?

do i need to travel if i want to get a bitcoin a licence?

[Tivadar]

Alright, we already found another member with an Estonian crypto company - let's keep this up. Let's gather and share the best practices about company starting, accounting and licence application.

We incorporated our company with them: https://nordicconsult.ee/en/
But have not chosen an accounting service yet, and not started the crypto licenses either. The licenses, if we delegate the task to a law firm, cost about 3000-4000 EUR together.

Please share if you have additional info!

Is that cheap in estonia?

do i need to travel if i want to get a bitcoin a licence?

No, you don't have to. First you need to apply for the E-Residency, then personally pick up the card at one of the Estonian embassies around the world, then found your company (OÜ) this can be done online, THEN you can apply for the licenses.

[GreeCoin]

I contacted with them and honestly I found their procedure very flexible comparable to Japan. Need 5 employees. .Even you can get residence permit and many things more. There is no tax just imply on employees salaries

[Tivadar]

I contacted with them and honestly I found their procedure very flexible comparable to Japan. Need 5 employees. .Even you can get residence permit and many things more. There is no tax just imply on employees salaries

Did you apply for the cryptocurrency licenses?

[irfanmalik04]

For opening Exchange then Estonia is best

[nox701]

For opening Exchange then Estonia is best

how can we get licence for crypto exchange?

[Tivadar]

For opening Exchange then Estonia is best

how can we get licence for crypto exchange?

Yes, this is exactly the question of this topic.

[Tivadar]

Any advice on accounting an the OÜ / Estonian company would be also welcome!

[Amseth]

I think is worth , despite taxes ! My oppinion

[MkGregor]

As far as my research shown, the problem is NOT getting license or setting up a company, the problem is to get BANKS to work with you.

[Tivadar]

As far as my research shown, the problem is NOT getting license or setting up a company, the problem is to get BANKS to work with you.

This seems right. However, do you know anybody personally/online who got the licenses? A contact would be very helpful! Thank you!