How To Get An Estonia Cryptocurrency License

One of the best cryptocurrency license available today is from Estonia.

Estonia is one of the pioneers in blockchain technology. It was one of the first countries to offer cryptocurrency business licenses.

While it is not the first or only jurisdiction offering crypto licenses, Estonia offers a simple licensing environment with one license for crypto exchange and one license for e-wallets.

As an EU member, Estonia's crypto license have passporting rights, which means you can freely establish your business in other EU countries without additional licensing requirements.

These are some of the top benefits of getting an Estonia crypto license.

Do you know you can pay for flights and hotel rooms with Bitcoins and other cryptocurrencies?

Tallinn Estonia
Tallinn, the Capital of Estonia.

Our team of corporate professionals can help you to quickly obtain your crypto license in Estonia. Let us know what you need.

Two Licenses Many Purposes
The crypto wallet and exchange licenses allow you to handle all primary crypto operations with just two licenses.

This if very effective and will help you save a lot of time from having to apply for different licenses for many different purposes. It is two licenses for all major operations and you can get it in about a month.

The licenses come with EU passporting rights, which means you can also establish your crypto business in other EU jurisdictions without additional licenses, or having to establish a branch in other countries.

Good Digital Infrastructure
The government has contributed significantly to the creation of IT infrastructure and services for the population, allowing them to vote online, register a business in 15 minutes, or pay taxes online in just three minutes.

There are very few places in Estonia without a Wi-Fi connection. Besides, the country funds special programs for students to develop their IT skills.

All this means it's the ideal place from which to operate a blockchain business in a high-tech environment.


Free Economy
Estonia has the 10th freest economy in the world according to the Index of Economic Freedom.

It enjoys unparalleled fiscal health, the financial sector has a reputable and efficient supervisory authority, and foreigners enjoy the same rights as locals.

The result? The economy has grown an average of 3.4 % in the last five years.

Attractive Tax System
Estonia has a top 20% corporate tax rate, which is tied for the seventh-lowest in the EU.

Since last year, a reduced 14% rate applies if the company's taxable profit is less than or equal to the average of the three previous years.

However, the system has two major benefits: undistributed profits are tax-free, meaning that all profits that are reinvested in business are tax-exempt, and the tax system is territorial; thus, foreign-sourced income is totally tax-free.

Ease Of Doing Business
Estonia is in the 18th position of the World Bank's Doing Business Report. Starting and operating a business in Estonia is simple as the country's public bodies are usually efficient and transparent, mainly because of the country's e-government policies.

Registering a business in Estonia is a simple three-step, three-day affair. Estonia's e-residency program also allows freelancers and startups around the world to register their company in Estonia while managing their business whenever they want.

The program has led Estonia to be the country with the most per capita digital startups in the world.

Tallinn, Estonia
Tallinn, Estonia.

Estonia's Crypto Exchange And E-wallet License

Companies working with cryptocurrencies can apply for two types of licenses in Estonia:

1. Crypto exchange license: For providers of a service for exchanging a virtual currency against a Fiat currency. This license allows them to exchange Fiat to Crypto, Crypto to Fiat, and Crypto to Crypto.

2. Crypto wallet license: For providers of a virtual currency exchange service. This license allows you to provide a virtual currency wallet service for a company, the company generates security keys for its customers or stores their encrypted keys. These keys can be used for saving or transferring virtual currencies.

Operational licenses are issued by the Estonian Financial Intelligence Unit (FIU), which is an independent structural unit of the Police and Border Guard Board of Estonia.

In case a company needs to obtain both licenses, two separate applications must be submitted, and two separate licenses are issued.

The company is qualified as a financial institution, although it has no additional tax requirements at the moment. The accounting must be done in the same way as any other company registered in Estonia.

There is no need for special reports to the regulator. However, the FIU reserves the right to make inquiries about the activities of licensed companies at any time.

Registering your crypto business in Estonia can be done remotely and generally the licensing process can also be done remotely through a representative.

However, the FIU may request a personal meeting with you in their office in Tallinn, the capital of Estonia.

The process is generally swift and straightforward. To obtain a crypto license, it is necessary to register a company in Estonia or a branch of a foreign company in Estonia.

We recommend using a local company and not a branch because registering the latter is more complex.

Man holding bitcoin

How To Get A Crypto License In Estonia

Registering a company in Estonia is a three-step, three-day process:

1. Check the availability of the company name, submit the registration application, and pay the registration fee (€145 for the regular process, €190 to expedite). If the share capital is over €25k, it must be deposited into a bank.

2. Register for VAT at the tax and customs authority. This usually takes a couple of days.

3. Register employees with the employment register. This can be done simultaneously with the VAT registry.

After registering your company, you can apply for the license(s) with the FIU, that will answer in a month. The response period can be extended two or four weeks if they request a physical meeting.

Upon application, we can also help you open a corporate bank account for your business in Estonia swiftly and remotely.

The following documents and information must be provided with the application. More documents may be required.

1. Clean criminal and credit record of all directors, UBOs, and shareholders

2. CV of all directors, UBOs and shareholders

3. A local office in Estonia, directed by a local manager

4. Company webpage

5. Business plan

6. Financial forecasts for the first year

7. Internal control norms of the company

8. Procedure norms of the company

9. AML policiesMinimum social capital of €12000

Woman holding bitcoin cryptocurrency

Our team of corporate professionals can help you to quickly obtain your crypto license in Estonia. Let us know what you need.

What Services Can An Estonian Cryptocurrency Licensed Company Provide?
The crypto exchange license allows the license holder to provide crypto exchange services, including fiat-to-crypto, crypto-to-crypto, and crypto-to-fiat exchanges.

The crypto wallet license offers a broader array of possible services:
  • E-wallet
  • Crypto exchange
  • Crypto payment system
  • Alternative payment system provision
  • Wholesale purchase of precious metals and stones, and articles related to them
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