Taking into account the needs of clients from all over the world, GFSC Global has developed packages that includes essential services allowing companies, in different countries, to get a Crypto-license. New amendments in Estonia, as one of the best countries for Crypto-License, to the Money Laundering and Terrorist Financing Prevention Act that entered into force on March 10, 2020 make it possible to apply for a single cryptocurrency license and provide services for both storage and exchange of cryptocurrency.
At GFSC Global, we help Cryptocurrency companies receive the relevant licensing in many countries, such as: Cyprus, Estonia, Switzerland, Malta, UK, Gibraltar, Singapore, France, Lithuania, Japan and Vanuatu.
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Licenses are granted by Estonia Financial Intelligence Unit (“FIU”) under the provisions of the Money Laundering and Terrorist Financing Prevention Act.
Below please find features of the particular license category in more details:
| Feature/Category | Cryptocurrency Exchange License |
| Type of company required to be eligible | Estonia Ltd company |
| Corporate taxation | 20% |
| Minimum paid-up statutory capital | 12,000 EUR |
| Main requirements | Physical office, minimum of 1 director (local), AML Compliance Officer, qualified personnel, audited financial statements. |
| Timeframe | A complete application is normally decided upon FIU approval within 2-4 months from the date of filing. |
| Government fees | 3,300 EUR |
1) Opening of operational and clients bank accounts (worldwide).
2) Assistance with recruitment of personnel (e.g. Executive Director(s), Independent Non-Executive Director(s), other required qualified personnel)
3) Provide outsourced services, such as Accounting, Bookkeeping, Internal Audit, External Audit
4) Provide outsourced Compliance & AML Support services
5) Provide outsourced Risk Management services
6) Assistance with finding local premises
7) Assistance with Trademark & Brand Name registration
8) Provide in-house trainings/seminars
9) Provide Legal Opinions
10) Provide DPO & GDPR Advisory services
Licenses are granted by the Malta Financial Services Authority (“MFSA”) under the provisions of the Virtual Financial Assets Act.
Below please find features of the particular license category in more details:
| Feature/Category | Cryptocurrency Exchange License |
| Type of company required to be eligible | Malta Ltd company |
| Taxation | 15-25% |
| Minimum paid-up statutory capital | 730,000 EUR |
| Main requirements | Minimum of 2 directors, AML Compliance Officer, qualified personnel, audited financial statements. |
| Timeframe | A complete application is normally decided upon MFSA approval within 3-4 months from the date of filing. |
| Government fees | 12,000EUR |
GFSC GLOBAL can offer as well the following services in relation to the license application, which include:
1) Opening of operational and clients bank accounts (worldwide).
2) Assistance with recruitment of personnel (e.g. Executive Director(s), Independent Non-Executive Director(s), other required qualified personnel)
3) Provide outsourced services, such as Accounting, Bookkeeping, Internal Audit, External Audit
4) Provide outsourced Compliance & AML Support services
5) Provide outsourced Risk Management services
6) Assistance with finding local premises
7) Assistance with Trademark & Brand Name registration
8) Provide in-house trainings/seminars
9) Provide Legal Opinions
10) Provide DPO & GDPR Advisory services
Licenses are granted by the Bank of Lithuania under the provisions of the Blockchain & Cryptocurrency Regulation.
Below please find features of the particular license category in more details:
| Feature/Category | Cryptocurrency Exchange License |
| Type of company required to be eligible | Lithuania Ltd company |
| Corporate taxation | 15% |
| Minimum paid-up statutory capital | * |
| Main requirements | Local office, 1 AML officer |
| Timeframe | A complete application is normally decided upon FNTT approval within 1,5-2 months from the date of filing. |
| Government fees | * |
GFSC GLOBAL can offer as well the following services in relation to the license application, which include:
1) Opening of operational and clients bank accounts (worldwide).
2) Assistance with recruitment of personnel (e.g. Executive Director(s), Independent Non-Executive Director(s), other required qualified personnel)
3) Provide outsourced services, such as Accounting, Bookkeeping, Internal Audit, External Audit
4) Provide outsourced Compliance & AML Support services
5) Provide outsourced Risk Management services
6) Assistance with finding local premises
7) Assistance with Trademark & Brand Name registration
8) Provide in-house trainings/seminars
9) Provide Legal Opinions
10) Provide DPO & GDPR Advisory services
Licenses are granted by Cyprus Securities and Exchange Commission (“CySEC”) under the provisions of the Directive for the prevention and suppression of money laundering and terrorist financing.
Below please find features of the particular license category in more details:
| Feature/Category | Cryptocurrency Exchange License (3 Categories) |
| Type of company required to be eligible | Cyprus Ltd company |
| Corporate taxation | 12,5% |
| Minimum paid-up statutory capital | 125,000 EUR or 150,000EUR (depends from the Category) |
| Main requirements | Physical office, minimum of 2-4 directors, AML Compliance Officer, qualified personnel, audited financial statements. |
| Timeframe | A complete application is normally decided upon CySEC approval within 5-6 months from the date of filing. |
| Government fees | 10,000 EUR |
GFSC GLOBAL can offer as well the following services in relation to the license application, which include:
1) Opening of operational and clients bank accounts (worldwide).
2) Assistance with recruitment of personnel (e.g. Executive Director(s), Independent Non-Executive Director(s), other required qualified personnel)
3) Provide outsourced services, such as Accounting, Bookkeeping, Internal Audit, External Audit
4) Provide outsourced Compliance & AML Support services
5) Provide outsourced Risk Management services
6) Assistance with finding local premises
7) Assistance with Trademark & Brand Name registration
8) Provide in-house trainings/seminars
9) Provide Legal Opinions
10) Provide DPO & GDPR Advisory services
BULGARIA CRYPTOEXCHANGE LICENSE
Authorizations are granted by the National Revenue Agency of Bulgaria (BNRA) under the provisions of the Anti-money Laundering Act from November 2019.
Below please find features of the particular category in more details:
Feature/Category | Cryptocurrency Authorization |
Type of company required to be eligible | Bulgarian Company |
Corporate taxation | 10% |
Minimum paid-up statutory capital | 1 EUR |
Main requirements | 1) Minimum one local director, 1 shareholder 2)Registered office 3)Reporting to BNRA 4)Substance services 5)Contact person service 6)Accounting/Audit |
GFSC GLOBAL can offer as well the following services in relation to the license application, which include:
1) Opening of operational and clients bank accounts (worldwide).
2) Assistance with recruitment of personnel (e.g. Executive Director(s), Independent Non-Executive Director(s), other required qualified personnel)
3) Provide outsourced services, such as Accounting, Bookkeeping, Internal Audit, External Audit
4) Provide outsourced Compliance & AML Support services
5) Provide outsourced Risk Management services
6) Assistance with finding local premises
7) Assistance with Trademark & Brand Name registration
8) Provide in-house trainings/seminars
9) Provide Legal Opinions
10) Provide DPO & GDPR Advisory services
Our professional fees for the above-mentioned services depend on the combination of services chosen and are available upon request.
Licenses are granted by the Ministry of Finance under the Polish Act of March 1, 2018.
Below please find features of the particular license category in more details:
Feature/Category | Cryptocurrency Exchange License |
Type of company required to be eligible | Ltd company |
Corporate taxation | 19% |
Minimum paid-up statutory capital | 5,000 PLN (approximately 1,200 EUR) |
Main requirements | Physical office, qualified personnel, AML Officer, Internal and External Audit, Accounting |
Requirements for member (s) of the board: | 1. taking a training or course covering legal and practical issues related to virtual currency activities; 2.carrying out at least one year of activity in the field of virtual currencies, confirmed by the relevant documents. |
GFSC GLOBAL can offer as well the following services in relation to the licence application, which include:
1) Opening of operational and clients bank accounts (worldwide).
2) Assistance with recruitment of personnel (e.g. Executive Director(s), Independent Non-Executive Director(s), other required qualified personnel)
3) Provide outsourced services, such as Accounting, Bookkeeping, Internal Audit, External Audit, Capital Adequacy calculation
4) Provide outsourced Compliance & AML Support services
5) Provide outsourced Risk Management services
6) Assistance with finding local premises
7) Assistance with Trademark & Brand Name registration
8) Provide in-house trainings/seminars
9) Provide Legal Opinions
10) Provide DPO & GDPR Advisory services
Our professional fees for the above-mentioned services are depend on the combination of services chosen and are available upon request.
The CNB is in charge of ensuring that other government financial regulations are followed. Each crypto company that performs commercial activity in the Czech Republic is subject to Czech AML/CFT laws: Coll. Act No. 253/2008 (Law against Money Laundering and Terrorist Financing)
Below please find features of the particular license category in more details:
Feature/Category | Cryptocurrency Exchange License | |
Type of company required to be eligible | Limited Liability Company (S.R.O.) | |
Corporate taxation | 19% | |
Minimum paid-up statutory capital | Starts from 1EUR. | |
Main requirements | Minimum 1 shareholder, 1 director, 1 Local AML/MLRO officer and Accounting/Audit |
GFSC GLOBAL can offer as well the following services in relation to the licence application, which include:
1) Opening of operational and clients bank accounts (worldwide).
2) Assistance with recruitment of personnel (e.g. Executive Director(s), Independent Non-Executive Director(s), other required qualified personnel)
3) Provide outsourced services, such as Accounting, Bookkeeping, Internal Audit, External Audit, Capital Adequacy calculation
4) Provide outsourced Compliance & AML Support services
5) Provide outsourced Risk Management services
6) Assistance with finding local premises
7) Assistance with Trademark & Brand Name registration
8) Provide in-house trainings/seminars
9) Provide Legal Opinions
10) Provide DPO & GDPR Advisory services
Our professional fees for the above-mentioned services are depend on the combination of services chosen and are available upon request.
The relevant Licence is issued under the provisions of Vanuatu’s financial legislation and are granted by the Minister of Finance upon application to the Vanuatu Financial Services Commission (VFSC).
Please find below the features of the particular licence category in more detail:
Feature/Category | Crypto Exchange License |
Type of company required to be eligible | VIC |
Taxation | 0% |
Minimum paid-up statutory capital | USD 50,000 deposited |
Main requirements | – AML/Compliance officer – Compliance services (local-obligatory) – Indemnity insurance |
Timeframe | 2-4 months |
Government Fees | USD 7,100 |
GFSC GLOBAL can offer as well the following services in relation to the license application, which include:
1) Opening of operational and clients bank accounts (worldwide)
2) Assistance with recruitment of personnel (e.g. Executive Director(s), Independent Non-Executive Director(s), other required qualified personnel)
3) Provide outsourced services, such as Accounting, Bookkeeping, Internal Audit, External Audit, Quarterly Statistics, preparation for the On-site Inspection
4) Provide outsourced Compliance & AML Support services
5) Provide outsourced Risk Management services
6) Assistance with finding local premises
7) Assistance with Trademark & Brand Name registration
8) Provide in-house trainings/seminars
9) Provide Legal Opinions
10) Provide DPO & GDPR Advisory services
The cryptocurrency activities in Marshall Islands are not regulated thus, there is not any requirement to obtain any license for the particular type of activities.
Below please find features of the particular category in more details:
| Feature/Category | Cryptocurrency Company |
| Type of company required to be eligible | Marshall Islands company |
| Corporate taxation | 0% |
| Main requirements | Minimum of 1 director and 1 shareholder, submission of annual return |
| Timeframe | The registration of a Marshall Islands company is normally completed upon Registrar of Corporations approval within 1-2 working days from the date of filing. |
GFSC GLOBAL can offer as well the following services in relation to the license application, which include:
1) Opening of operational and clients bank accounts (worldwide)
2) Assistance with recruitment of personnel (e.g. Executive Director(s), Independent Non-Executive Director(s), other required qualified personnel)
3) Provide outsourced services, such as Accounting, Bookkeeping, Internal Audit, External Audit, Quarterly Statistics, preparation for the On-site Inspection
4) Provide outsourced Compliance & AML Support services
5) Provide outsourced Risk Management services
6) Assistance with finding local premises
7) Assistance with Trademark & Brand Name registration
8) Provide in-house trainings/seminars
9) Provide Legal Opinions
10) Provide DPO & GDPR Advisory services
The cryptocurrency activities in St. Vincent and the Grenadines are not regulated thus, there is not any requirement to obtain any license for the particular type of activities.
Below please find features of the particular category in more details:
| Feature/Category | Cryptocurrency Company |
| Type of company required to be eligible | SVG company |
| Corporate taxation | 0% |
| Main requirements | Minimum of 1 director and 1 shareholder |
| Timeframe | The registration of a SVG company is normally completed upon Registrar of Corporations approval within 5-7 working days from the date of filing. |
GFSC GLOBAL can offer as well the following services in relation to the license application, which include:
1) Opening of operational and clients bank accounts (worldwide)
2) Assistance with recruitment of personnel (e.g. Executive Director(s), Independent Non-Executive Director(s), other required qualified personnel)
3) Provide outsourced services, such as Accounting, Bookkeeping, Internal Audit, External Audit, Quarterly & Annual Reporting
4) Provide outsourced Compliance & AML Support services
5) Provide outsourced Risk Management services
6) Assistance with finding local premises
7) Assistance with Trademark & Brand Name registration
8) Provide in-house trainings/seminars
9) Provide Legal Opinions
10) Provide DPO & GDPR Advisory services
Licenses are granted by the Financial Transactions and Reports Analysis Centre of Canada (“FINTRAC”) under the Proceeds of Crime (Money Laundering) and Terrorist Financing Registration Regulations.
Below please find features of the particular license category in more details:
Feature/Category | Money Services Business License (MSB) |
Type of company required to be eligible | Canada Ltd Company |
Corporate taxation | 15% |
Main Requirements | – Minimum of one Director -AML Officer (local) -Qualified personnel -Audited financial statements |
Timeframe | A complete application is normally decided upon FINTRAC approval within 2-3 months from the date of filing. |
GFSC GLOBAL can offer as well the following services in relation to the license application, which include:
1) Opening of operational and clients bank accounts (worldwide).
2) Assistance with recruitment of personnel (e.g. Executive Director(s), Independent Non-Executive Director(s), other required qualified personnel)
3) Provide outsourced services, such as Accounting, Bookkeeping, Internal Audit, External Audit, Quarterly & Annual Reporting, Tax Calculation
4) Provide outsourced Compliance & AML Support services
5) Provide outsourced Risk Management services
6) Assistance with finding local premises
7) Assistance with Trademark & Brand Name registration
8) Provide in-house trainings/seminars
9) Provide Legal Opinions
10) Provide DPO & GDPR Advisory services
Our professional fees for the above-mentioned services depend on the combination of services chosen and are available upon request.
Authorisations are granted by the Financial Conduct Authority (“FCA”) under the provisions of the Anti-Money Laundering and Counter-Terrorist Financing (CTF) Regulations 2017 (MLRs 2017), amended in 2019, which regulates the cryptoasset exchange providers and allows to provide the below services:
- exchange or arrange or make arrangements with the intention of crypto-to-fiat and fiat-to-crypto exchange;
- exchange or arrange or make arrangements with the intention of crypto-to-crypto exchange;
- operate an automated machine that allows making crypto-to-fiat, and fiat-to-crypto exchange (crypto ATM).
Feature/Category | Cryptocurrency Exchange Authorisation |
Type of company required to be eligible | LTD Company |
Minimum paid-up statutory capital | 0 |
Main requirements | – Minimum 2 directors (fit and proper, local or EU citizens are preferable) and 1 shareholder (natural person or legal entity, no restrictions with regards to citizenship or residence) -Office -AML officer (fit and proper) The above additional requirements are not included in our below price, however we can assist and provide, upon request. |
Government Fees Description/ License Category | £2,000 – for businesses with UK cryptoasset income up to £250,000 £10,000 – for businesses with UK cryptoasset income greater than £250,000 |
GFSC GLOBAL can offer as well the following services in relation to the license application, which include:
1) Opening of operational and clients bank accounts (worldwide).
2) Assistance with recruitment of personnel (e.g. Executive Director(s), Independent Non-Executive Director(s), other required qualified personnel)
3) Provide outsourced services, such as Accounting, Bookkeeping, Internal Audit, External Audit
4) Provide outsourced Compliance & AML Support services
5) Provide outsourced Risk Management services
6) Assistance with finding local premises
7) Assistance with Trademark & Brand Name registration
8) Provide in-house trainings/seminars
9) Provide Legal Opinions
10) Provide DPO & GDPR Advisory services
Our professional fees for the above-mentioned services depend on the combination of services chosen and are available upon request.
| Feature/Category | IFZA CRYPTO LICENSE |
| Type of company required to be eligible | Limited Liability Company |
| Minimum paid-up statutory capital |
Not required |
| Main requirements | 1 Director, 1 Shareholder & Personal visas |
| Government Fees | 22,900 AED |
- Visa and Emirates ID registration.
- Opening of operational and clients bank accounts (worldwide).
- Assistance with recruitment of personnel (e.g. Executive Director(s), Independent Non-Executive Director(s), other required qualified personnel)
- Provide outsourced services, such as Accounting, Bookkeeping, Internal Audit, External Audit, Capital Adequacy calculation
- Provide outsourced Compliance & AML Support services
- Provide outsourced Risk Management services
- Assistance with finding local premises
- Assistance with Trademark & Brand Name registration
- Provide in-house trainings/seminars
- Provide Legal Opinions
- Provide DPO & GDPR Advisory services
| Feature/Category | DMCC CRYPTO LICENSE |
| Type of company required to be eligible | LIMITED LIABILITY COMPANY |
| Minimum paid-up statutory capital | 50,000AED |
| Main requirements | 1 DIRECTOR, 1 SHAREHOLDER & PERSONAL VISAS |
| Government Fees | 43,780AED |
- Visa and Emirates ID registration.
- Opening of operational and clients bank accounts (worldwide).
- Assistance with recruitment of personnel (e.g. Executive Director(s), Independent Non-Executive Director(s), other required qualified personnel)
- Provide outsourced services, such as Accounting, Bookkeeping, Internal Audit, External Audit.
- Provide outsourced Compliance & AML Support services
- Provide outsourced Risk Management services
- Assistance with finding local premises
- Assistance with Trademark & Brand Name registration
- Provide in-house trainings/seminars
- Provide Legal Opinions
- Provide DPO & GDPR Advisory services
Our professional fees for the above-mentioned services depend on the combination of services chosen and are available upon request.