Cheapest country to launch a cryptocurrency exchange (possibly ICO)?

[qazka]

So what's the cheapest country to launch a crypto-crypto exchange ? Something under $500 for all the legal paperwork. I can't really physically goto a country so online only method.

Also is it required to get a license before running an exchange or it can be done later too once i have some funds ?

I checked some services offering license in malta but it costs $10k i cant afford that much for a license if it flops then it's a waste.

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[LeGaulois]

Estonia is good

Good because every administrative paper can be done online and in English.  Most citizens use English daily, even the government website has an English version. It's clear and well explained. I like how simple is their administrative system even for foreign folks.

I don't remember the cost to open a company there but the fee is marginal and maybe none existent.
You can apply for the E-residency, it costs about 100€ and you become a (virtual) citizen of Estonia. You can then open a company easily after.
The related taxes are also simplified, no need endless hours for accounting, you can't even forget to pay

[BitcoinGirl.Club]

Estonia is good

Good because every administrative paper can be done online and in English.  Most citizens use English daily, even the government website has an English version. It's clear and well explained. I like how simple is their administrative system even for foreign folks.

I don't remember the cost to open a company there but the fee is marginal and maybe none existent.
You can apply for the E-residency, it costs about 100€ and you become a (virtual) citizen of Estonia. You can then open a company easily after.
The related taxes are also simplified, no need endless hours for accounting, you can't even forget to pay

I was not aware of this much easier citizenship LOL
Are they for real?

[LeGaulois]

Estonia is good

Good because every administrative paper can be done online and in English.  Most citizens use English daily, even the government website has an English version. It's clear and well explained. I like how simple is their administrative system even for foreign folks.

I don't remember the cost to open a company there but the fee is marginal and maybe none existent.
You can apply for the E-residency, it costs about 100€ and you become a (virtual) citizen of Estonia. You can then open a company easily after.
The related taxes are also simplified, no need endless hours for accounting, you can't even forget to pay

I was not aware of this much easier citizenship LOL
Are they for real?

Yes it's real https://e-resident.gov.ee/ but it's not pure citizenship otherwise the country would already be invaded by refugees. But as a European citizen, you can easily refugee there I remember a law saying that once you live there for 2 months you can go to any police station to get a VISA you even get the free health insurance lol.

You don't need to create a company to apply for the E-residency but if you do you can manage everything (related to it) from your home. The government digitalized almost everything years back.

[timerland]

Estonia definitely, and maybe also Russia if you have a team member then, I've heard from friends there, that registering a business there is very cheap, and doesn't require much in the way of legal stuff.

Malta is only really useful for crypto-based projects that already have a huge amount of capital, and want to move their business/main center of operations there (due to very low 5% company tax).

[martinsults]

+1 to Estonia

[loughlin]

+1 Estonia. I agree with LeGaulois, you can manage everything from home. I also think that they have significant TAX benefits in the first few years to all digital companies and especially crypto related.

[cut]

Yes it's real https://e-resident.gov.ee/ but it's not pure citizenship otherwise the country would already be invaded by refugees. But as a European citizen, you can easily refugee there I remember a law saying that once you live there for 2 months you can go to any police station to get a VISA you even get the free health insurance lol.

thanks for link mate.

[mr_random]

Estonia looks too good to be true but I never tried to open the company there. What about Ukraine? I have heard about softened rules and help from the government.

[lavara]

Good times are coming in Ukraine. I mean the regulatory laws that help develop the business. As a physical and Internet entrepreneurship. Look for all the accuracy in Google how to spend ico -but in Ukraine this is already quite successfully engaged, and according to reviews the conditions for conducting are very good.

[ethersalvation]

Good times are coming in Ukraine. I mean the regulatory laws that help develop the business. As a physical and Internet entrepreneurship. Look for all the accuracy in Google how to spend ico -but in Ukraine this is already quite successfully engaged, and according to reviews the conditions for conducting are very good.

Estonia is easy but still cost. Ukraine is going to be nice soon.

[feryjhie]

I think you should read these articles below
1. Where to Start a Cryptocurrency Exchange – Crypto Friendly Countries
2. Complete List - Bitcoin Friendly Countries for Cryptocurrency Businesses in 2019

after you read these articles you can know which countries are friendly toward cryptocurrency business

[Yoshinoya]

I think now countries in the Asian region have started to flatten and develop in the cryptocurrency business.
In fact, some countries have passed cryptocurrency such as currencies and can be used to make transactions.
Thus a legal country may be very appropriate to run a cryptocurrency business. Because sales and purchases can be easily accessed, it also reduces transaction costs

[hulla]

I think now countries in the Asian region have started to flatten and develop in the cryptocurrency business.
In fact, some countries have passed cryptocurrency such as currencies and can be used to make transactions.
Thus a legal country may be very appropriate to run a cryptocurrency business. Because sales and purchases can be easily accessed, it also reduces transaction costs

I won't support the act of getting lincese through Asia region for they usually required physical application and hiring some of their nationality which will be against what the OP want.

I think you should read these articles below
1. Where to Start a Cryptocurrency Exchange – Crypto Friendly Countries
2. Complete List - Bitcoin Friendly Countries for Cryptocurrency Businesses in 2019

after you read these articles you can know which countries are friendly toward cryptocurrency business

The OP is definitely not seeking for crypto friendly nationals but the countries which offer cheapest license through online and the EU region (Estonia,Belize etc) are the best countries for that which was also where exchange like CODEX and some various ICOs owner also get their licence. An example

[qazka]

I think now countries in the Asian region have started to flatten and develop in the cryptocurrency business.
In fact, some countries have passed cryptocurrency such as currencies and can be used to make transactions.
Thus a legal country may be very appropriate to run a cryptocurrency business. Because sales and purchases can be easily accessed, it also reduces transaction costs

I won't support the act of getting lincese through Asia region for they usually required physical application and hiring some of their nationality which will be against what the OP want.

I think you should read these articles below
1. Where to Start a Cryptocurrency Exchange – Crypto Friendly Countries
2. Complete List - Bitcoin Friendly Countries for Cryptocurrency Businesses in 2019

after you read these articles you can know which countries are friendly toward cryptocurrency business

The OP is definitely not seeking for crypto friendly nationals but the countries which offer cheapest license through online and the EU region (Estonia,Belize etc) are the best countries for that which was also where exchange like CODEX and some various ICOs owner also get their licence. An example

I heard that estonia recently changed its laws made it more strict. What about Azerbaijan ? https://dth.azexport.az/become-resident.html
It's the only one that has e-residency besides estonia

[savioroshan]

Thats great. Its the first time, I am hearing about E residency. I have heard about free PR but this is new to me. Now I understood why many icos are registered in Estonia. With this E residency, opening a bank account is allowed or can we do normal banking things in Estonia?

[kidosneh]

Well, I’m Steph, and I’m from Nigeria, Lagos precisely. I’d like to share one or two things with you in regards to your topic  and I hope you find them interesting.
Setting up an exchange should be easier and obtaining license too should be pretty much easier in most part of EU and Asia, but you’ve forgot to outline how you’re gonna deal with the huge competition in those regions and that field. Since many cryptocurrency exchanges are erected in EU, most especially the island of Malta and Estonia, it will be very challenging for a new startup to compete with the big names that have already established grounds.
In my own little opinion, I’d suggest you make a move to an economy that’s yet to be explored by large cryptocurrency firms and has a very huge potential for the cryptocurrency market. For this, I’d suggest you to come to my country, NIGERIA, which is Africa’s largest economy and Africa’s largest cryptocurrency and blockchain center. There aren’t any cryptocurrency exchange set up in Nigeria. In fact, there aren’t any standard cryptocurrency exchange in Nigeria. But the Nigerian Cryptocurrency Marketplace industry are dominated by three peer to peer cash-to-crypto exchanges such as The Seychelles owned remitano, Indian runned localbitcoins and Paxful. Although Nigerians don’t use traditional Coins-to-coins exchanges as they prefer trading with cash against crypto. If you could come and set up an hybrid platform that will offer both fiat-to-crypto exchnage and Crypto-to-crypto exchange, then it would be superb. Although your company may need to compete with those we Nigerians already knows and use, but it’s a competitive world. Who does it better will win at the end. There are tools which you may introduce into Nigeria which will drive major crypto fans and enthusiasts towards your exchange. The reason why I’m sharing with you is because I’ve once noticed a drea m to create a cryptocurrency exchange that will be Nigeria and Africa’s largest cryptocurrency firm, but due to lack of capital and support, I couldn’t pursue that dream. It’s even the cause of my profile getting a negative trust from some two biased users, lol, who couldn’t take time to find out what the main reason of me seeking partners might be. Back to the topic, I do documented my own whitepaper which gives a detailed information about the cryptocurrency exchange (it’s proposed name, features, evolution plan and other planned sub-product to compete with the big players (paxful, binance Uganda and remitano)it’s vision, mission and some other useful details).  If you wish, I may provide you with a lite copy of this paper. If you really consider my opinion, please I’d like to work with you in creating an exchange for the better tomorrow. If you needed to contact me, you can do so anytime through adexson@icloud.com or WhatsApp my phone number at +2348111403638. Best regards.

[davidwilson17]

Estonia looks like a good option and most of the process and paperwork is relatively easy to handle (by yourself or through many agencies that specialize in this sort of service) but dealing with local banks is not that easy.
It suppose to start changing but if you want to have your whole operation in Estonia - open your business and check with banks before you invest time and energy into obtaining licencing.

[ethersalvation]

No advantage to open exchange with low budget in any country.
Dont make fool of yourself.

to run an exchange you must have a massive amount of traders or many traders using robots or there's no sense in doing this. Many big exchanges have very competitive fees and only interesting part should be to offer cheap price to all new tokens and coins to be listed. But you must invest in security too and you deal with dangerous situations..

[Indamuck]

You can always go the seasted route like Elway and claim you have your own country.   Then you have no rules to follow and can do whatever you want.

But seriously most of the island nations in the Caribbean have very lenient laws and it is why many crypto companies set up shop there.