According to the Regulation (EU) 2020/1503 of the European Parliament and Council of 7 October 2020, organizing a crowdfunding platform requires obtaining a specialized license. From November 11, 2023, all crowdfunding platforms are required to have an appropriate license to legally provide their services in the European Union. To obtain a license, providers must demonstrate compliance with a range of criteria, including financial stability, adequate risk management systems, and measures to prevent fraud.
The core ambition behind the Markets in Crypto-assets regulation is to assimilate into the unified EU legal framework a set of impactful measures. These aim to bolster the potential and innovative capabilities of the digital finance industry while fostering fair competition among crypto businesses and mitigating financial and AML/CFT risks.
The process of obtaining e-Residency status in Estonia is relatively straightforward and consists of a few steps. To acquire e-Residency status in Estonia, one needs to complete an online form on the official program website, pay the fee, and, once approved, collect the e-Residency card at a pre-selected Estonian overseas representation.
Estonia is one of the most comfortable and efficient jurisdictions in Europe for establishing a company and developing your business, as the local taxation system is characterized by its simplicity and transparency. The main advantage of the business environment and tax policy in Estonia is the corporate tax rate on undistributed profit, which is 0%.
Company registration in Lithuania provides many opportunities for business development in the European Union, as Lithuania offers a favorable economic environment, attractive tax conditions, and access to the single market of the European Union.
The combating against money laundering plays a key role in maintaining the stability and transparency of the global economic system. These measures help to prevent criminal activity, support the legality of financial transactions, and promote public safety and socio-economic well-being in general.
If a non-resident performs work while being outside Estonia, the remuneration received by him is not subject to income tax in Estonia. Also, a company that has paid remuneration to a foreigner does not have any obligation to declare such payment to the Tax and Customs Board.
The DAO (decentralized autonomous organization) is a decentralized autonomous organization, which is a structure in which traditional centralized management is replaced by innovative technological solutions and open software code. The DAO concept is built largely on the idea of Web 3.0 and blockchain technology, which allows the use of smart contracts and tokens to ensure the continuity and transparency of management decisions and management of internal processes of the DAO project.
Web3, or Web 3.0, is the third generation of the Internet, which aims to create a decentralized network, based on blockchain technology and distributed data storage. In contrast to earlier concepts of Internet technology development (Web 1.0 and Web 2.0), Web3 emphasizes decentralization, privacy and user ownership of data on the network. Also, one of the goals of Web3 is to create ecosystems in which participants can be rewarded for their contributions or participation in decentralized projects.
On February 1, 2023, a separate Law on the Commercial Register of Estonia came into effect, which transferred the regulations about the contact person previously contained in the Commercial Code. In addition to change in the legal act regulating the institution of contact person for Estonian enterprises, some points of significance concerning the procedure for appointment and term of this service validity were clarified.