OVERVIEW OF BUSINESS LICENSES
CRYPTO
It is a mandatory license for businesses operating within the legal framework of cryptocurrency and blockchain technology.
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Allows businesses to participate in many crypto-related activities such as: Transactions, Custody services, investment, payment processing, crypto issuance... equivalent to a cryptocurrency platform
Services allowed to be provided
01
ELECTRONIC TRADING PLATFORM
Provide a platform where your customers can buy, sell or trade cryptocurrencies for another virtual currency or fiat currency.
02
LEGALIZE TOKEN, ICO, IDO, EXCHANGE LISTING
Companies raising funds through the sale of digital tokens need to register their offering and apply for an e-money license, especially when they need to list the tokens on a digital exchange.
03
P2P TRADING
Is a license for P2P trading merchants
04
E-WALLET SERVICE
Providing payment wallet services, e-wallets (both fiat and crypto).
Providing money custody services
05
COIN MINING ACTIVITIES
Some jurisdictions require mining operations to be licensed, especially if the operation is large, due to high energy consumption and potential tax implications.
06
CRYPTO INVESTMENT FUNDS AND PLATFORMS
Funds and platforms that invest in cryptocurrencies or related products on behalf of investors may need to register as investment vehicles and obtain appropriate licenses.
Although still considered illegal or not clearly regulated in many countries, many countries have recognized, legalized and considered cryptocurrencies as a legal Commodity / Currency.
Some countries make it easy to obtain a business license (even if the individual owner is not a citizen or permanent resident there).
TRAO ĐỔI TRỰC TIẾP
15 min • Free
OVERVIEW OF LICENSING REQUIREMENTS
In general, the licensing requirements for Crypto business licenses have many commonalities across all countries. Commonalities include:
- Commitment and internal measures to comply with Anti-Money Laundering and Terrorist Financing (AML/CFT) laws
- Enterprises established and operating under the strict control of local financial authorities.
- Annual financial statements, depending on the country, will require an audit
- Specific capital and internal control requirements
CANADA
Document collection: 1-3 days
Company formation: 7 days
Document processing before application: 2-3 weeks
Apply and receive crypto license*: 3-6 weeks
* Licensing time depends entirely on the regulatory agency.
Copy of Passport of all shareholders
Documents verifying the residential address of Shareholders and Directors.
Confirmation of criminal records of shareholders and directors (Translated + notarized and consular legalized)
Canadian registered entity or foreign entity licensed Fintech
Physical office located in Canada to register for license with FINTRAC
Canadian Compliance Officer
Unspecified equity (recommended CAD 10,000)
All necessary measures to comply with AML policies
CZECH REPUBLIC
Business name verification: 1 day
Company formation: 2 weeks
Document preparation: 1-2 weeks
Crypto license approval: 2 weeks
Copy of Passport of Shareholders and Directors
Documents verifying the residential address of Shareholders and Directors.
Confirmation of criminal records of shareholders and directors (Translated + notarized and consular legalized)
Anti-Money Laundering and Terrorist Financing Policy, Know Your Customer Policy (AML & KYC)
ADDITIONAL REQUIREMENTS
Customer data storage (5 years)
LITTLE
Business name verification: 1-2 days
Company formation: 1-2 weeks
Document preparation: 2 weeks
Submit and register equity capital: 1 week
Apply and receive crypto license: 1-2 weeks
Copy of Passport of Shareholders and Directors
Documents verifying the residential address of Shareholders and Directors.
Confirmation of criminal records of Shareholders and Directors (Translated + Notarized and consular legalized)
Minimum registered capital required is 125,000 EUR
Anti-Money Laundering and Terrorist Financing Policy, Know Your Customer Policy (AML & KYC)
Local Lithuanian Anti-Money Laundering Officer with valid certification
POLAND
Document collection: 1-3 days
Company formation: 1-2 weeks
Submit and receive crypto license: 2 weeks
Copy of passport of Shareholder and Director
Documents verifying the residential address of Shareholders and Directors.
Confirmation of criminal records of shareholders and directors (Translated + Notarized and consular legalized)
Anti-Money Laundering and Terrorist Financing Policy, Know Your Customer Policy (AML & KYC)
Minimum share capital registration 5000 PLN ~ 1270USD
ADDITIONAL REQUIREMENTS:
Digital Signature and PESEL
Anti Money Laundering Training (Online)
SLOVAKIA
Business name verification: 1-3 days
Company formation: 2 weeks
Prepare documents for license: 2 weeks
Submit and receive crypto license: 1 - 2 weeks
Copy of Shareholder's passport
Documents verifying the residential address of Shareholders and Directors.
Confirmation of criminal records of shareholders and directors (Translated + Notarized and consular legalized)
Anti-Money Laundering and Terrorist Financing Policy, Know Your Customer Policy (AML & KYC)
The appointed director is a Slovak or EU citizen
Minimum share capital: 5000 EUR
EL SALVADOR
Business name verification: 1-2 days
Company formation: 1-2 weeks
Prepare documents for license application: 2 weeks
Submit and register equity capital: 1 week
Apply and enter crypto license: 2 months*
* Licensing time depends entirely on the regulatory agency.
Copy of Shareholder's passport
Documents verifying the residential address of Shareholders and Directors.
Confirmation of criminal records of shareholders and directors (Translated + Notarized and consular legalized)
Anti-Money Laundering and Terrorist Financing Policy, Know Your Customer Policy (AML & KYC)
Minimum 2 shareholders
Minimum equity: $2000
UNITED KINGDOM
Document collection: 1-3 days
Company formation: 3-5 days
Prepare documents for license application: 2-3 weeks
Apply for an e-money license from FCA*: 2-3 months
* Licensing time depends entirely on the regulatory agency.
Copy of Shareholder's passport
Documents verifying the residential address of Shareholders and Directors.
Confirmation of criminal records of shareholders and directors (Translated + Notarized and consular legalized)
Anti-Money Laundering and Terrorist Financing Policy, Know Your Customer Policy (AML & KYC)
Businesses must make a detailed application to the FCA, setting out their business model, operations and compliance measures.
Implement strong policies and procedures to prevent money laundering and terrorist financing.
Implement advanced security protocols to combat hackers and fraud.
Provide clear, accurate and comprehensive information about products and services, including the risks involved.
Maintain sufficient capital to cover operating expenses and withstand potential losses.
Key personnel, such as directors and senior managers, must demonstrate the necessary skills, experience and integrity.
Submit regular reports to the FCA detailing financial position, compliance status and any significant changes in operations.
Pay a non-refundable application fee to the FCA.
Implement continuous monitoring systems and comply with new regulatory requirements.
CONTACT:
E-mail:
WhatsApp: (+44) 7736 540 294
Telegram: @systemsolutions
Telegram Group (Established Company Solution)
APPLICATION SERVICES
LICENSE IN CZECH REPUBLIC
SERVICES INCLUDE:
New DKKD method (Overcoming the current problem in the Czech Republic where there are many restrictions on new DKKD applications for shareholders/owners not residing in the EU)
Register to establish 01 LLC (with 01 year of legal address on the Business Registration Certificate)
Anti-Money Laundering, Terrorist Financing and Basic Customer Identity Verification Policy.
Register + Complete Crypto Business License
Basic Company Documents
Exchange/Communication with Management
Legal support throughout the licensing process
APPLICATION SERVICES
LICENSE IN LITUVA
SERVICES INCLUDE:
Register to establish 01 LLC (with 01 year of legal address on the Business Registration Certificate)
Anti-Money Laundering, Terrorist Financing and Basic Customer Identity Verification Policy.
Register + Complete Crypto Business License
Basic Company Documents
Exchange/Communication with Management
Support recruitment of Compliance Officers (AML/KYC)
Legal support throughout the licensing process
CONTACT:
E-mail:
WhatsApp: (+44) 7736 540 294
Telegram: @systemsolutions
Telegram Group (Established Company Solution)
APPLICATION SERVICES
LICENSE IN POLAND
SERVICES INCLUDE:
Open a new LLC (Recommended 2 shareholders or more)
01 year of legal address on business registration
Anti-Money Laundering, Terrorist Financing and Basic Customer Identity Verification Policy.
Register + complete Crypto Business License
Basic Company Documents
Exchange/Communication with Management
Legal support throughout the licensing process
APPLICATION SERVICES
LICENSE IN SLOVAKIA
SERVICES INCLUDE:
Register to establish 01 LLC (with 01 year of legal address on the Business Registration Certificate)
Anti-Money Laundering, Terrorist Financing and Basic Customer Identity Verification Policy.
Register + Complete Crypto Business License
Basic Company Documents (For license application)
Exchange/Communication with Management
Support for recruitment of Compliance Officers
Legal support throughout the licensing process
CONTACT:
E-mail:
WhatsApp: (+44) 7736 540 294
Telegram: @systemsolutions
Telegram Group (Established Company Solution)
APPLICATION SERVICES
LICENSED IN CANADA
SERVICES INCLUDE:
Opened a new LLC in Ontario
01 year of legal address on business registration
Anti-Money Laundering, Terrorist Financing and Basic Customer Identity Verification Policy.
Register + complete Crypto Business License
Basic Company Documents
Legal support with cryptocurrency and fintech experts
Due diligence on shareholders and key members
Support for equity registration
Pre-register with FINTRAC (Regulator)
Apply for a Crypto License
Communicating with FINTRAC Regulator
Support for recruitment of Compliance Officers
APPLICATION SERVICES
LICENSE IN EL SAVADOR
SERVICES INCLUDE:
Register to establish 01 LLC (with 01 year of legal address on the Business Registration Certificate)
Anti-Money Laundering, Terrorist Financing and Basic Customer Identity Verification Policy.
Register + Complete Crypto Business License
Basic Company Documents (For license application)
Exchange/Communication with Management
Support for recruitment of Compliance Officers
Legal support throughout the licensing process