Crypto license in Estonia
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Starting a cryptocurrency business in Estonia opens the door to a leading European digital environment. The Estonian crypto license allows your company to legally offer exchange, wallet, and other crypto services across the EU. Licensing requirements are strict, but they provide a clear regulatory framework and foster trust with partners and clients. Whether you need to obtain a new license or are searching for a ready-made company with an active crypto license, our team will guide you through each step—ensuring compliance, transparency, and operational readiness in 2024 and beyond.
According to Estonian law, a license is mandatory if your company offers:
- Cryptocurrency-to-fiat or fiat-to-cryptocurrency exchange services
- Exchange services between cryptocurrencies
- Wallet custody (storing clients’ crypto assets, managing private keys)
- Token circulation or issuance
- Transfer and storage of crypto assets for third-party clients
If your business only trades crypto with its own funds (proprietary trading, without serving clients or third parties), licensing requirements may not apply. Ask our team for a tailored legal assessment, as border cases require careful analysis.
Authorized capital:
- Exchange services: Minimum €100,000
- Transfer/custody services: Minimum €250,000
Proof of source for all capital is required, and funds must be deposited in an authorized Estonian bank or payment institution.
Management and personnel:
- Board members need at least two years’ professional experience and higher education.
- Key employees, such as compliance officers or MLRO, may need to be based locally and must be qualified for their roles.
Physical presence:
- An actual office address and operational links to Estonia are mandatory.
- Virtual offices are not accepted for licensing purposes.
AML/KYC compliance:
- Strict anti-money laundering (AML) and know-your-customer (KYC) procedures must be in place.
- Regular transaction monitoring, customer verification, and suspicious activity reporting are compulsory.
- Annual audits and ongoing compliance checks are required.
Corporate governance:
- The company must submit a detailed business plan covering at least two years.
- Transparent ownership structure, clear reporting lines, and robust complaints handling are expected.
- Protection of client assets and adherence to IT security standards (per EU DORA regulation) are checked by the regulator.
Application process fee:
- Application fee: €10,000 (non-refundable)
Step-by-step: How to obtain a crypto license in Estonia
Consultation and case review
Send a request through our website. We offer a free initial consultation, explain requirements, and provide a price quotation for our services.
Company formation
Register an Estonian legal entity (usually an OÜ). We will handle all paperwork, including selecting the company name and filing with the commercial register.
Open a corporate bank account
An Estonian or EU payment institution account is required for the share capital and business operations.
Deposit authorized capital
Amount depends on services planned. Proof of funds and source of capital must be documented.
Office and team setup
Rent office space and hire key employees (compliance officer, directors). We help with recruitment if needed.
Draft documents
Prepare the business plan, AML/KYC policies, internal control procedures, and all supporting paperwork.
Submit license application
File the application with the Estonian Financial Supervision Authority (FSA). We manage the process and correspond with the regulator on your behalf.
Due diligence and interviews
Respond to FSA queries, provide additional information as requested, and ensure full transparency.
Decision and launch
Upon approval, receive the CASP license. Your company must begin operations within six months, or the license may be revoked.
Ongoing compliance
Regular reporting, audits, and ongoing compliance updates are required. We offer long-term legal and accounting support to keep your business compliant.
Estonia has brought its crypto market laws in line with the latest European standards, mainly through the implementation of:
- National Crypto Asset Market Act (CMA) (from July 2024): Covers all aspects of licensing, compliance, governance, and customer protection for crypto service providers.
- EU MiCA Regulation: Establishes uniform rules for crypto assets, issuers, and service providers across Europe.
- DORA Regulation: Ensures digital operational resilience and high IT security standards for all participants.
- Stricter requirements for AML, transparency, and corporate accountability.
Transition periods are provided for companies holding prior licenses. New market entrants must fully meet the new standards from late 2024 onward.
- Over 700 successful projects and licenses granted since 2017
- Deep expertise in Estonian and EU law for crypto assets and fintech
- Full confidentiality and data protection, always
- Comprehensive support: legal, tax, accounting, compliance, and business consulting
- Fast and accurate document preparation and submission
- Long-term client relationships and transparent pricing
Frequently asked questions about the Estonian crypto license
Still have a questions?
What is a crypto license in Estonia?
A crypto license in Estonia, known from 2025 as a CASP (Crypto-Asset Service Provider) license, legally allows companies to operate cryptocurrency-related activities. This includes exchange services (crypto to fiat, crypto to crypto), wallet services, transfers, and crypto consulting, all under Estonia’s and EU regulations.
What are the main requirements to obtain a crypto license in Estonia?
You need to establish an Estonian company with a physical office in Estonia and open a local bank or payment account. The company must have at least two board members with relevant experience and education, local compliance staff, and an approved auditor. Minimum share capital is EUR 100,000 for exchange services or EUR 250,000 for transfer services. Robust AML/KYC policies, a detailed business plan, and audited annual reports are mandatory.
How much does it cost to get a crypto license in Estonia in 2024?
The main costs include the government license fee (EUR 10,000), share capital (minimum EUR 100,000–250,000), office rental, staff salaries, mandatory annual audit, compliance setup, and legal or consulting support. The typical total setup, including share capital, ranges from EUR 120,000 to EUR 280,000.
How long does it take to obtain the license?
Company registration can be completed within one to two weeks. Opening a bank account and depositing share capital usually takes two to six weeks. The licensing process itself typically takes two to six months, depending on the completeness of documentation and regulatory workload.
What activities are allowed under the Estonian crypto license?
License holders can legally provide crypto/fund wallet management and storage, exchange between cryptocurrencies and fiat currencies, exchange between various cryptocurrencies/tokens, and offer crypto transfer or advisory services. All activities must comply with Estonian and EU rules.
Can I buy a ready-made company with a crypto license?
Yes, ready-made Estonian companies with an existing crypto license are offered by some providers. This can reduce setup time, but careful legal and compliance due diligence are essential to confirm the license is valid and the company has no legacy risks.
What are the main ongoing obligations after getting the license?
You must maintain required share capital, keep a real office, employ qualified compliance staff, conduct annual audits, and file regular reports. Ongoing AML/KYC monitoring and adapting to regulatory updates are mandatory. Business operations must start within six months of licensing or the license may be revoked.
Can I manage the company and licensing process remotely?
Most steps, such as company formation, submitting documents, and many regulatory procedures, can be handled online through Estonia’s digital infrastructure. Some processes, like bank account opening, may require physical presence or local representation.
Do I need a license for proprietary trading in crypto?
No, if your company only trades with its own funds and does not serve third parties or clients, a crypto license (CASP) is not required in Estonia.
Is the Estonian crypto license valid across the EU?
Yes. Estonia is part of the EU and complies with unified standards set by MiCA (Markets in Crypto-Assets Regulation). Once licensed, you can offer services across the EU, subject to appropriate notifications and adaptations to local requirements.
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