czech republic

Obtaining a cryptocurrency license in the Czech Republic allows to work and open branches in any EU country. It is enough to inform the local regulator, no additional bureaucratic procedures are required.

FEATURES OF CZECH CRYPTOLICENSE

A cryptocurrency license is issued by the Financial Analytical Unit, which is the financial intelligence unit of the Czech Republic. Without a license, it’s not safe to operate — the regulator can treat a company’s actions as fraudulent and shut down the business. Plus — the process of getting a cryptolic license in the Czech Republic is simple, without unnecessary bureaucratic formalities. The company that gets it is considered reputable and reliable.

CRYPTOLICENSE OPPORTUNITIES IN THE CZECH REPUBLIC

• Exchanging cryptocurrency for other digital currency or fiat money;
• Creating virtual wallets, storing customers’ money on them;
• Issuance of electronic funds, if their amount does not exceed €5 million. This amount is reduced to €3 million, if the company also provides financial payment services and falls under PSP restrictions.

REQUIREMENTS FOR CRYPTOLICENSE

• Register as a physical person;
• Hire a physical office;
• Deposit authorized capital in an account;
• Gather information on the founders, directors, shareholders. They must have a clean history, no criminal record, no involvement in suspicious transactions;
• Provide a certificate of residence of each shareholder and director;
• Develop a business plan and describe the equipment and software for the project;
• Provide evidence that the company complies with AML requirements;
• Hire an anti-money laundering officer (MLRO).

TAXES

• Income tax — 19%.
• VAT — 21%.
• Dividend tax — 15%.

WHAT IS INCLUDED IN THE LIST OF SERVICES
To apply for a cryptocurrency license in the Czech Republic, contact IT-OFFSHORE. The list of services includes:

• Company registration;
• Finding and renting a legal office;
• Preparation of a package of constituent documents, taking into account the requirements of the regulator and the bank where the account will be opened;
• Payment of state and license fees;
• Checking for compliance with AML/KYC regulations;
• Assistance in obtaining a segregated C2B/B2B bank account;
• Obtaining a cryptocurrency license.

LICENSE ISSUANCE TIMELINE

The process of obtaining a cryptocurrency license in the Czech Republic takes up to 2 months.