Crypto license in Czech Republic
The Czech Republic is currently one of the most favourable jurisdictions for crypto businesses and FinTech start-ups.
We offer the possibility of obtaining a cryptocurrency licence in the Czech Republic as soon as possible.
Our team of experts has been specializing in comprehensive blockchain projects support for more than 5 years. We offer our clients company registration and Czech crypto licence services, as well as assistance in opening current accounts, accounting services, financial and ALM/CFT consulting, etc.Contact us and get your crypto licence in Czech Republic in as little as 3-4 weeks! Send enquiry
CRYPTOCURRENCY LICENSE IN Czech Republic
Obtaining a crypto exchange license in Czech Republic
We offer the possibility of obtaining a crypto licenсe in Czechia – poskytování služeb spojených s virtuálním aktivem (provision of services related to a virtual asset), which is sure to become an effective tool for developing your crypto business and bring your blockchain start-up to the European Union market.
- Regulatory authority:
- Finanční analytický úřad (Financial Analytical Office), or FAU
- Registr Živnostenského podnikání (Trade Licensing Register), or TLR
- Legal acts:
- Law on the Prevention of Money Laundering and Terrorist Financing of the Czech Republic
- Trade Licensing Act of the Czech Republic (Živnostenský zákon)
- Directive (EU) 2015/849 of the European Parliament and of the Council (4th Anti-Money Laundering Directive, 4AMLD)
- Directive (EU) 2018/843 of the European Parliament and of the Council (5th Anti-Money Laundering Directive, 5AMLD)
Our team has been specializing in supporting cryptocurrency projects for more than 5 years. Over the years we have gained extensive experience and vast knowledge in the field of FinTech and blockchain technologies, AML/CFT, as well as the legal regulation of financial and investment activities. Since 2017, we have helped over 300 of our clients to license and legalise their blockchain start-ups.
ADVANTAGES OF THE CZECH CRYPTOCURRENCY JURISDICTION
The Czech Republic has long established itself as one of the centres of the FinTech industry and innovative financial solutions. This jurisdiction has many advantages, from its clear and transparent tax system to its geographical location in the heart of Europe.
Thus, registering a company and obtaining cryptocurrency authorisation in Czechia differs markedly from similar opportunities in other jurisdictions for the following reasons:
- Obtain a crypto licence in Czechia as soon as possible
The procedure for registering a company and obtaining a crypto licence takes on average 3 to 4 weeks, the whole process can be carried out remotely without personal presence.
- Simple and transparent requirements
No share capital is needed to establish a crypto company in the Czech Republic, and only one founder and general manager, who can be a resident of any foreign country, is sufficient.
- Ample opportunities
Having a Czech cryptocurrency licence gives its holder the ability to provide the following services to his clients:
- exchange of cryptocurrency against a fiat currency (crypto vs fiat exchange)
- exchange of fiat currency against a cryptocurrency (fiat vs crypto exchange)
- exchange of cryptocurrency against a cryptocurrency (crypto vs crypto exchange)
- provision of a crypto wallet service (custodian crypto wallet service)
- client cryptocurrency storage services (crypto storage service)
- make a cryptocurrency transfers (crypto transfer service)
- full-featured cryptocurrency exchange
Our experts will give you a detailed preliminary consultation on the process of registering a company and obtaining a cryptocurrency licence, as well as comment on the various nuances regarding the future activities of your company.
STEPS FOR OBTAINING A CRYPTO LICENCE IN CZECHIA
Our company offers the complete package of services needed to successfully complete the licensing process for cryptocurrency activities in the Czech Republic, as well as further steps to set up the infrastructure required for the correct operation of the business. The procedure for obtaining a crypto-licence can be divided into the following steps:
- Registration of a company
The first step towards obtaining a Czech crypto licence is the establishment of a legal entity in Czechia, which can be set up either in person or remotely under a power of attorney.
- The most common and convenient legal form for setting up a business in the Czech Republic is S.R.O. (Czech: Společnost s Ručením Omezeným), it is the equivalent of LLC (Limited Liability Company).
- Minimum requirements for the amount of the share capital, which can be equal to 1 Czech koruna (CZK) and be paid in cash.
- Participants and general managers of the company may be the residents of foreign countries.
- The same person may be a member and a general manager of the company.
- Registration of activities
Once a company is registered, it must notify the authorities of the Czech Republic of its intention to provide services related to the exchange or storage of cryptocurrencies by submitting the appropriate application to the Trade Licensing Register.
- Notification to the regulatory authority
Before starting operations, a cryptocurrency company must designate a contact person for quick communication with the regulatory authority and an AML officer (MLRO) to notify the regulator of suspicious and unusual transactions. FAU must be notified in writing of the appointment of a contact person and MLRO and their contact details must be provided. The contact person and MLRO may be the same person, who may be a resident of a foreign country.
- Preparing the infrastructure
In order for a crypto business to function properly and to provide uninterrupted services related to cryptocurrency exchange, it is necessary to prepare and set up the appropriate infrastructure: open a current account with a bank or payment system (SWIFT, SEPA), create a corporate account on a cryptocurrency exchange, set up automated accounting of dealings and transactions, ensure collection and secure storage of information about clients and transactions made by them.
- Start of activities
Upon completion of all the steps outlined above, the crypto project will be ready to start active business operations and service its clients in accordance with all legal requirements of the Czech Republic.
Our consultants and lawyers will provide you with comprehensive support during each of the steps outlined above, prepare your crypto start-up for cryptocurrency authorisation and guide you through the entire process.
We will offer you comprehensive support for registering a company and obtaining a cryptocurrency license in Czechia, which will allow your crypto start-up to provide its clients with various cryptocurrency exchange services while operating within the legal framework of the European Union.
For detailed advice and a personalised price quote on obtaining a crypto licence in Czechia, please contact our experts by phone, e-mail or leave an application on our website.