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, 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 | Physical office, minimum of 2 directors, AML Compliance Officer, qualified personnel, audited financial statements. |
| Timeframe | A complete application is normally decided upon Bank of Lithuania approval within 3-4 months from the date of filing. |
| Government fees | * |
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
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