CryptoCurrency License

An Estonian Haven: the Perfect Place for Setting up Your CryptoCurrency Business

For important reasons, which this article intends to specify, Estonia has recently become one of the world’s most desirable jurisdictions for setting up Cryptocurrency licensing and businesses.

How to apply for a CryptoCurrency License?

Since the regulatory atmosphere in Estonia is both pleasant and accommodating, the management of any regulatory bureaucracy is fairly simple and even friendly – a substantial advantage considering that one has to be in ongoing contact with the Estonian authorities.

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CryptoCurrency Regulation and Licensing in Estonia

Estonia joined the Eurozone in 2011. In general, Estonia is highly receptive towards blockchain technology as it openly welcomes businesses which employ technological innovativeness of this sort. As a rule, Estonia openly embraces entrepreneurs, from around the world, wishing to become Estonian residence and set up their businesses in Estonia and to obtain Cryptocurrency license in Estonia; these entrepreneurs can receive an e-residency which grants them access to all the electronic services which the Estonian government provides.

Estonia does not regulate the use of bitcoins/Cryptocurrency – and such use is by no means subjected to government supervision. Furthermore, with an Estonian residency, one can purchase bitcoins with SEPA transfer of Euros, and, since Estonia is part of the SEPA system,  any conversion of Euros to bitcoins, in order to comply with any deposit requirements, is relatively cheaper – when compared to other payment methods. It is safe to say that Estonia aspires to become the premium alternative and destination for Crypto exchanges licensing frame.

If you are interested in buying a prepaid debit card using a check, then you would have to go into a brick-and-mortar store. This is hardly a problem as many convenient stores now sell prepaid debit card

When starting a Cryptocurrency business in Estonia, a self-equity of a few thousand Euros is in order – making the costs of opening such business fairly low in comparison to the starting costs in other jurisdiction. In order to operate any virtual Cryptocurrency exchange business, or provide other custodial wallet services, in Estonia, one is obliged to obtain the proper license. In addition to a sum of a few thousands Euros as charter capital, a sum of up to 5,500 Euros should be allocated to registering a Cryptocurrency licensed limited liability company in Estonia.

Often, regulators will demonstrate open-mindedness and will be willing to facilitate the progress of your business.

Compared to other jurisdictions, therefore, licensing and regulations of Crytocurrency companies in Estonia are favoring and their enforcement is carried in a professional manner and with relative ease. Thus Estonia, undoubtedly, becomes a prize destination for those wishing to operate their Cryptocurrency business.

Business Debit Card

How and where to order a company prepaid card online

Many convenient stores nowadays sell prepaid debitcards. One option for purchasing a prepaid debitcard, therefore, is to go into a brick-and-mortar store and purchase a card using a check. A second option is to purchase a prepaid card online – this is perhaps the more accommodating and easier method. Before choosing your desired card provider it is essential to compare the fees that are associated with various card providers thus making sure that your chosen debitcard provider befits your financial needs and capabilities. Beware of fishing websites and unknown card-brands and choose more familiar brands and well-established providers. The online application process is very easy and no credit check is in order. In order to apply for a company prepaid card, you ought to open a business bank account online. Depending on the type and size of your business, this will necessitate some personal information (Social Security Number or Business Tax Identification Number, Business License specifying both business and owner’s name, Business name filing document, etc). Once your request is approved, a prepaid debitcard will be sent to you within 7-10 business days.