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12.12.2019 – Changes in law for cryptocurrency license holders

On December 12, 2019, the Estonian parliament approved a law that applies to companies providing virtual currency wallet service or exchanging virtual currency against fiat currency. Companies that have licenses issued must implement new procedures by July 1, 2020. Otherwise, the Financial Intelligence Unit may revoke their licenses – says Paweł Krok from Eesticonsulting.ee. A company that wants to obtain a license for an exchange office and a currency portfolio must provide no criminal record proof and a CV for all members of the company. Everyone involved must present a copy of the passport certified by a notary public, as well as the AML procedure as before. A company should set up a bank account in Estonia or any EEA country. Share capital should be at least EUR 12,000. The non-monetary contribution is not allowed. The company should have its own office and management on the territory of the Republic

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General Knowledge
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Payment institution in Lithuania

We are fully experienced E-MONEY License in Lithuania – payment institution The electronic money institution – called often EMI license or E money license – is a regulated financial institution whose purpose is to provide services related to electronic money and payment services. The full license for E-Money is not limited in time or type of activity. A company that has a license of an electronic money institution in Lithuania can provide any services in the European Economic Area (EEA) without having to obtain a position in another EU country. After obtaining a license in Lithuania, an electronic money institution may provide services in other EEA Member States by establishing branches. The kind of services that require a license in Lithuania services enabling cash to be placed on a payment account as well as all operations necessary for operating a payment account; services enabling cash withdrawals from a payment account,

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General Knowledge
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Trademark registration in Estonia

trademark in estonia A trademark is used to identify products and services. His task is to distinguish your products from coco-competitive products. A trademark can be a word, drawing, letter, number, color, spatial form, including the shape of the goods, and even sound. We have the following types of trademarks: word mark, word graphic, spatial mark, positional mark, color combination, sound mark, moving mark or holographic mark. Source of Estonian Trademark Law Trademark Act – View trademark benefits tax and legal incentives of trademark registration A trademark can be sold A trademark is a property right that you can sell. You don’t have to sell your business or enterprise – you can sell the trademark itself. By registering a mark on an individual, you can retain the right to the most important asset when, for example, your company encounters difficulties and its assets are seized. The exclusive right to using

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General Knowledge
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Bank account for cryptocurrency

Banking solutions for cryptocurrency business You’ve heard that it’s difficult to open a bank account for cryptocurrency services. Today we will tell you how to start preparations for opening such an account. Customers who contact us say they are refused to set up an account. They set up companies in EU countries and then encounter difficulties in opening a bank account. Is it even possible to open such a bank account? ACCOUNT TYPE FOR CRYPTO CLIENTS high street bank It is crypto-friendly bank, who operates as traditional high street bank – financial institution. payment service provider It operates under the E-Money License – it works like fintech apps – likes Revolut, Trasnferwise but it is crypto-friendly. our fees We will help you estabilish bank account or PSP service for your cryptocurrency business. Bank account € 3000 Multi-currency bank account with e-banking Remotely set-up EUR GBP USD CHF ant other currencies

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General Knowledge
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Swiss bank account for Estonian OÜ company

opening bank account in switzerland We will help you open an individual or company bank account for an Estonian company in Switzerland. The process of setting up a bank account is completely remote. You will get all access to your account by post. How to open swiss bank account? Most frequent questions and answers Which documents are needed for bank account opening in Switzerland? In the case of an Estonian company that wants to open a bank account in Switzerland – the bank will ask for the following documents: Extract from RIK – Commercial Register The names of directors The names of shareholders (if they are natural persons) The list of beneficial owners The nature of business (EMTAK codes) Apostilled and notarized documents  Certificate of tax residency of the company Can I open swiss bank account remotely without visit in Switzerland? The bank account is opened remotely without visiting Switzerland.

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General Knowledge
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Create subsidiary or branch in Estonia

How to register subsidiary in estonia? if the foreign company plan enter into estonian market (…) Special resolution of foreign company In order to establish a branch of a parent company in Estonia, an act of establishment is necessary. It may be a resolution – usually Special Resolution – adopted by the authorities of a foreign company. How can this decision be made? It depends on the law of the country in which the company is registered (Company Law) and on the Article of Association of the parent company. This decision must be sworn translated into Estonian and must contain information about the subject of the activity and indicate the person who will be the representative of such branch in the territory of Estonia. Features of the branch of a foreign company: Features of the branch of a foreign company:– The company’s branch has no legal personality– The company’s branch

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