Crypto license in Czechia
The Czech Republic is currently one of the most favourable jurisdictions for crypto businesses and FinTech startups in the European Union and all over the world.
We offer the possibility of obtaining a crypto exchange licence in the Czech Republic so that in the near future you will be able to provide your customers with the desired services related to crypto and virtual assets.
Apply for a crypto lcense in Czechia – the price is only 3000 €
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 payment accounts, accounting services, financial and ALM/CFT consulting.Get your crypto licence in Czech Republic just in 3-4 weeks! Send enquiry
CRYPTO LICENSE IN CZECH REPUBLIC
Obtaining a crypto exchange license. Get VASP authorization in Czechia
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 startup to the European Union market.
- Regulatory authority
- Finanční analytický úřad (Financial Analytical Office), or FAU
- Registr Živnostenského podnikání (Trade Licensing Register), or TLR
- Law on the Prevention of Money Laundering and Terrorist Financing of the Czech Republic
- Trade Licensing Act of the Czech Republic (Živnostenský zákon)
- EU directive 2015/849 (4th Anti-Money Laundering Directive, 4AMLD)
- EU directive 2018/843 (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 startups.
CZECH READY-MADE SOLUTION
Buy a Ready-Made Company with a Crypto License in the Czech Republic
We offer the opportunity to purchase a ready-made company in the Czech Republic with a pre-obtained crypto license. Buying a ready-made company will help you launch your blockchain startup in the shortest possible time.
Find out the cost and conditions of acquiring a ready-made solution for your crypto project right now.
ADVANTAGES OF THE CZECH CRYPTO LICENSE
Why should you choose the Czech Republic to register your crypto company?
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.
HOW TO OBTAIN A CRYPTO LICENSE IN THE CZECH REPUBLIC?
Main stages: procedure for obtaining a Czech cryptocurrency license
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 in Czech Republic
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 virtual asset or crypto related activity
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 FAU
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.
Get an initial consultation and a price quote today!
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.
The crypto license in the Czech Republic | Frequently Asked Questions (FAQ)
Below you will find a list of frequently asked questions in terms of receiving the license for cryptocurrency exchange in the Czech Republic, which our consultants face in their work. Familiarization with these materials may be relevant for you.
- What is a crypto license?
The crypto license is an official permission (registration of activities) issued by the state authorities of the Czech Republic, to carry out activities related to cryptocurrencies, their exchange and storage.
- How is the crypto license denoted in the Czech Republic?
In the Czech Republic, the term “poskytování služeb spojených s virtuálním aktivem” is used to refer to the crypto license, which corresponds to the English term “virtual asset service provider” or abbreviated VASP.
- What authority issues permits for crypto activities in the Czech Republic?
In the Czech Republic, the activities of crypto companies are subject to registration with the Živnostenský rejstřík (Trade Licensing Register).
- For how long is a permit to work with cryptocurrencies issued in the Czech Republic?
The license to work with cryptocurrencies and virtual assets (their exchange, storage, transfer, etc.) is issued in the Czech Republic without time limit.
- What authority controls the activities of cryptocurrency companies in the Czech Republic?
The Czech crypto companies are monitored and supervised by the Financial Analytical Unit (FAU). The main point to which the FAU pays special attention is the anti-money laundering and countering the financing of terrorism AML/CFT.
- Who needs to get the crypto license in the Czech Republic?
The crypto license is required for companies providing the following services: (1) exchange of cryptocurrencies into fiat currencies and vice versa, (2) exchange of some cryptocurrencies into other cryptocurrencies, (3) cryptocurrency storage and management of cryptocurrency wallets, (4) ICO (initial coin offering) and (5) crypto exchanges and trading platforms.
- How long does it take to get crypto authorization in the Czech Republic?
The process of registering the company and obtaining the crypto license in the Czech Republic usually takes 2-3 weeks.
- What are the share capital requirements for the Czech crypto companies?
In the Czech Republic there are no separate requirements for the share capital and own funds for crypto companies and VASPs. The minimum amount of share capital for Czech companies is one (1) Czech crown.
- What documents are required to obtain the crypto license in the Czech Republic?
In order to submit the application for registration of cryptocurrency activities for your Czech company, a certificate of no criminal record will be required for all active persons (directors, founders, UBO). You will also need to develop an AML policy detailing all processes and procedures that are carried out within the company in order to meet international AML/CFT standards.
- Does it require a physical presence (office, employees) for the crypto company in the Czech Republic??
No, a local office and local employees are not required to obtain the crypto license and further operation of the Czech crypto company.
- Can foreign nationals hold key positions in the company?
Yes, in the Czech crypto company all key positions (founder, director, MLRO) can be held freely by nationals of foreign countries. The presence of residents of the Czech Republic in the structure is not required.
- What taxes are levied on the activities of the crypto company in the Czech Republic?
All Czech enterprises are required to pay corporate income tax, which is 19%. Regarding the taxation of transactions with cryptocurrencies and virtual assets, according to current regulations, such transactions are equal in nature to financial transactions and are not subject to VAT.
- Do I have to identify customers?
Yes, you are required by law to identify your customers and verify whether they are politically exposed persons and to check your customers for inclusion on sanctions lists. Providing services to anonymous customers is prohibited by law.
- Can I provide cryptocurrency exchange services to residents of other EU countries?
Yes, the Czech crypto company has the right to attract customers from other European Union member states without any restrictions, while respecting the statutory customer identification obligations and AML/KYC measures.
- Is it possible to offer cryptocurrency exchange services to customers from outside the EU?
Yes, it is possible. However, in addition to the standard AML/KYC procedures, the customer’s identity is required to be established in person or to use electronic means of identification that meet the standards described in the Regulation (EU) No. 910/2014 of the European Parliament and of the Council (eIDAS).
- What supervisory obligations does the crypto company have?
Every crypto company or cryptocurrency exchanger registered in the Czech Republic is obliged to inform the regulator of all suspicious and irregular transactions by submitting notifications to the Financial Analytical Unit (FAU) through a special electronic medium.
- Where can I look up the company and check if it has the license?
All data of the Czech companies and their representatives (owners and directors), as well as information on the availability of registration required to provide services for exchanging or storing cryptocurrencies and virtual assets, is available on the Licensed Trade Portal.
- Can I open a current account for my company outside the Czech Republic?
Yes, you can open the current account with a foreign bank or payment institution.