Estonia cryptocurrency/bitcoin business set up
Since the inception of bitcoin in 2009, Healy Consultants Group PLC has assisted our Clients with business registration in forward-thinking Estonia.
Our professional support services include i) Estonia cryptocurrency company formation services, ii) suitable crypto-friendly license registration, iii) corporate bank account opening services in Europe and abroad, iv) cryptocurrency mining solutions v) Estonia e-Residency application support and vi) initial coin offering advice.
Why register a cryptocurrency company in Estonia?
- In comparison to other EU countries, Estonian legislation clearly recognized cryptocurrency business;
- Estonia is one of the top destinations for cryptocurrency trade in 2018;
- The country is very open to cryptocurrency, wishing to set itself apart from other jurisdictions. This is best illustrated by that fact that it is currently considering launching its own cryptocurrency called ‘Estcoin’;
- To register a cryptocurrency company in Estonia takes only 3 weeks without personal travel required. Cryptocurrency exchange providers require a ‘Virtual Currency Services License‘ which typically takes 2 months to acquire;
- Estonia is an ideal destination to trade Bitcoin in EEU markets, such as Belarus, Latvia, Lithuania, Russia, Kazakhstan, Armenia, Kyrgyzstan.
- Estonia is a member of the EU. This gives Estonian incorporated entities access to the EU Single Market, removing borders to trade, employment and customs and duties with other EU States.
- Estonian companies will receive an ‘Intra Community’ tax number, which can be used for trade with all EU member States.
- Estonian companies do not have a corporate tax liability in undistributed profits. Therefore, as long as the profits remain undistributed, a corporation tax liability will not arise.
Why Estonia is a technologically friendly country?
- Estonia is a very open and technology friendly jurisdiction. Tech giants such as Skype and major Cryptocurrency entities such as Coinbase have their headquarters in Estonia;
- Estonia is regarded as having one of the most sophisticated technological systems. It is the first country in the world to introduce an ‘E – Residency’ system;
- Estonian company profits are not taxed unless they are distributed as dividend;
- Estonian crypto-friendly banks offer multi-currency corporate bank accounts, including US$ and € and £;
- Estonia is ranked by the World Bank as 12th best jurisdiction worldwide in which to establish a company.
Disadvantages of Estonia business set up!
- In comparison to other cryptocurrency friendly jurisdictions such as Belarus, the rules governing initial coin offering in Estonia are complex;
- In Estonia, each new ICO must be analyzed on its own merits to determine potential licensing requirements;
- The European Securities and Market Authority have advised firms that Estonian ICO’s may be treated as securities. This means that ICO’s may be linked to future profits of the company;
- Estonia has a small domestic population, limiting the potential for domestic expansion and growth.
How to begin bitcoin crypto-currency trading in Estonia?
- With the help of Healy Consultants, our Client incorporates a new Estonia company following our incorporation guideline;
- Our dedicated banking team open a bitcoin-friendly multi-currency corporate bank account with a local, reputable bank;
- As a last post-registration step, the company will register for Tax and VAT;
- If required, Healy Consultants will assist our Client to apply for a ‘Virtual Currency Services License’;
- We encourage our multi-national Clients’ to open a corporate bank account outside of Estonia to i) access SEPA cheap transfer and ii) minimize international wire charges and iii) diversify political and financial risks.
How to engage Healy Consultants for Bitcoin setup in Estonia?
- Send us an email (click link);
- Followed by a conference call with Mr. Petar Charkov (click link) to agree corporate strategy, total engagement costs and timelines;
- Sign our engagement letter and supply us the required due diligence documents;
- Settle our engagement fees payable by instalments (click link);
- Immediately thereafter, Healy Consultants PLC emails our Client a quality detailed project plan and business plan;
- We supply our Client weekly detailed engagement status updates, comprising quality deliverables including certificate of incorporation and corporate bank account numbers;
- Healy Consultants couriers to our Client complete corporate document inclusive of online banking activation device;
- Our Client completes a Client feedback survey.
Healy Consultants fees for Estonia business set up for bitcoin crypto-currencyTotal engagement fees for Estonia business set up amount to EUR 13,150.
ConclusionRegistering a cryptocurrency trading company in Estonia is an efficient way to i) operate as a licensed corporate tax-exempt cryptocurrency service provider business and ii) obtain a cheap SEPA corporate bank account and list on various bitcoin exchanges within the European Union