FINANCIAL LICENSES

We will be happy to assist you in obtaining financial and cryptocurrency licenses. Licenses are required to start activities in the following areas:

  • operation as a financial institution
  • operation as a pawnbroker’s office
  • purchase and sale of precious metals and jewels
  • cryptocurrency wallet service
  • cryptocurrency exchange

FILING A LICENSE APPLICATION

The application for one or two licenses shall be filed by a board member of the Estonian company. The license application can be submitted electronically using an е-residency card or an Estonian ID card on the web site mtr.mkm.ee. The state fee for filing an application for one license is 345 EUR. The fee shall be paid to the Estonian Ministry of Finance. The decision on issuing the license shall be made by the Anti-Money Laundering Data Office (an independent entity of the Police and Border Guard Department) within 30 business days after the date of application.

The license is open-ended.

TO GET THE LICENSE, THE FOLLOWING DATA SHOULD BE PRESENTED:

  • contact details of the business owner (phone number, e-mail and mailing address), CV
  • address of the provision of services and web page address
  • name and contact details of the person responsible for the offer
  • name, personal code (if not available, date of birth), place of birth and residence address of the real beneficiary of the company
  • procedural rules and internal control regulations developed according to Articles 29 and 30 of the Money Laundering and Terrorist Financing Prevention Act, and in case of persons with special responsibilities specified in Article 6 of the International Sanctions Act, procedural rules developed according to Section 6 of the International Sanctions Act, and the procedure for verifying their implementation
  • name, personal code (if not available, date of birth), place of birth, citizenship, residence address, position and contact details of the contact person specified in Part 3, Article 29 or Part 4, Article 29 of the Money Laundering and Terrorist Financing Prevention Act
  • name, personal code (if not available, date of birth), place of birth, citizenship, residence address, position and contact details of the person responsible for applying international financial sanctions, as determined by the business owner according to Part 9, Article 13
  • if the business owner, his/her board member, the procurator, the real beneficiary or the proprietor is a citizen of a foreign country or if the business owner is a foreign person offering services, it is necessary to submit a statement from the penalty register in his/her country of origin or an equivalent document issued by a judicial or administrative authority confirming the absence of penalties for crimes committed against government authorities, money laundering crimes or another deliberate crimes no earlier than three months ago and certified by a notary or in another similar way and legalized or approved by the certificate replacing legalization (Apostille), unless otherwise provided by an international treaty

More information regarding rules, money laundering and terrorist financing prevention is possible BY CLICKING HERE.

Specialists of Company in Estonia will be glad to assist you in getting a license. The assistance includes making the list of necessary documents, help in developing procedural rules of the company, translation of documents into Estonian and support throughout the licensing process.

OUR PRICES:

Legal support in obtaining one license is 2000 EUR
State fee for one license is 345 EUR

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