Cryptocurrency licence for clients from China

COREDO for People's Republic of China (PRC)

Legislation in certain countries is known to be incredibly strict when it comes to the regulation of crypto-businesses. Moreover, certain activities pertaining to cryptocurrencies, such as cryptocurrency trading, are banned in some countries, including China.

On the other hand, there are countries in the EU, especially the Czech Republic, that are known for their exceptionally accommodating approach to regulating crypto-business.

As a result, an increasing number of Virtual Assets Service Providers (VASP) have been established over the last years in the Czech Republic, benefiting from the economic stability and transparent legal structure, which makes it easier to conduct business. Moreover, the overall trajectory and favourable attitude towards crypto projects are already apparent in the whole European Union, which is moving towards a single regulatory framework.

As for the Czech Republic, it is one of the leading EU countries in the area of cryptocurrencies and related activities, with an appealing and progressive legal framework and favourable conditions for doing business in line with the best international practice. This is one of the reasons why clients from China choose the Czech Republic when establishing a crypto company in the EU.

What are the benefits of obtaining a cryptocurrency licence in the Czech Republic and EU, more broadly?

Obtaining a cryptocurrency license in the Czech Republic and, more generally, in the European Union has a number of crucial advantages, among which are:

Timing

The Czech legal framework allows you to start conducting your crypto business activity in just a few weeks after submitting your application for the licence.

Cost

Obtaining a cryptocurrency licence in the Czech Republic is much cheaper than in a considerable number of other jurisdictions, for example - Estonia. This is due to very favourable requirements.

Reliability and security

Licensing is carried out in accordance with regulations that have emerged in a stable political and legal environment of а EU country in the heart of Europe.

Market access

A cryptocurrency company registered in a European country can do business across the European Economic Area, comprising 30 countries with a total population of around 450 million people. At the same time, there are also opportunities for onboarding clients from third countries such as China.

Conditions

EU authorities are continuously implementing various initiatives to support local and cross-border investors. Additionally, the European Union Intellectual Property Office (EUIPO) provides favourable conditions to companies registering trademarks in the EU.

How can we help?

At COREDO, we provide comprehensive support and assistance to both individuals and legal entities carrying out or wishing to carry out crypto projects and related activities in the Czech Republic and across the EU. We are ready to provide you the following support and assistance:

Choosing the appropriate jurisdiction and procedure based on your requirements;

Preparing documents for submission to relevant authorities, representing you in ongoing interactions with said authorities and other stakeholders;

Supporting the appointment of a Money Laundering Reporting Officer (MLRO) and Money Laundering Compliance Officer (MLCO);

Providing compliant internal documentation in line with applicable Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) requirements;

Providing ready-made terms and conditions and other policies for the provision of virtual assets services, allowing you to start doing business promptly, and further tailoring them to your business model and needs;

Offering full-scale services to help clients from China register their cryptocurrency companies in the EU with further support on a subscription basis.

What is the general procedure for obtaining a Crypto License in the Czech Republic?

At COREDO, we specialise in providing comprehensive services related to obtaining a Crypto License in the Czech Republic. We understand the complex nature of the process and are here to assist our clients in every step of this journey. The process of obtaining a Сrypto Licence in the Czech Republic mainly comprises the following phases:

Assessment of the details and individual requests linked to the future business;
Collecting and preparing the data and corresponding applications and other documents for Notarial record, such as:
- affidavit from the director,
- power of attorney from the director and the founder(s),
- certificate of non-criminal record,
- determining the company name and the authorised capital (we recommend up to 20,000 CZK or 800 EUR),
- consent to provide a legal address;
- other documents depending on the legal form of the founder;

Translation of the required documents into the Czech language;
Meeting with the notary;
Submitting all the applications for the issuance of a licence;
Notifications to the appropriate institutions;
And your licence is ready!

Why should you turn to us specifically?

Our company provides, among others, a full range of legal, consulting and financial services to clients from China interested in registering cryptocurrency companies and providing cryptocurrencies-related services in the EU. Among our distinguishing features are:

Experience. We have over a decade of experience in the field of cryptocurrency licensing, preparing legal documents for cryptocurrency companies in the Czech Republic and across the EU, and always adhere to all regulatory requirements.
Individual approach. Every project we work on is processed individually. We carefully study the specifics of your business and develop a unique action plan that best suits your needs and interests.
Professionalism. Our team consists of highly qualified and in-house lawyers, AML officers and consultants who know how to properly register a cryptocurrency company in the EU to minimise legal risks and maximise efficiency.
Confidentiality. We understand how important the confidentiality and secrecy of our clients’ data are, so we always adhere to strict confidentiality rules and guarantee the security of your data.
Support. We provide full legal and advisory support after registering your cryptocurrency company. We are always ready to help you with any legal queries related to your business.

Registration of a cryptocurrency company in the EU, specifically, in the Czech Republic, is a profitable strategy for Chinese clients looking to expand their businesses internationally. Our company offers all the essential services to help clients from China to register their cryptocurrency companies in the EU. Join forces with the COREDO team by contacting us today for more information!

FAQ:

What is the cost of registering a cryptocurrency company in the Czech Republic?

The cost of registering a cryptocurrency company in the Czech Republic starts from EUR 3,000 + VAT. The final cost will depend on the details and specifics of each case.

What is a Crypto License?

A Crypto License is a permit issued by regulatory authorities that allows a company to provide services related to virtual assets, such as buying, selling, exchanging, storing, managing, and transferring virtual assets.

What advantages does the Czech Republic offer for conducting a cryptocurrency business?

Obtaining a Crypto License in the Czech Republic allows a company to operate throughout the European Union, making its services accessible worldwide. Additionally, the Czech Republic offers relatively low labour costs, a transparent tax system, and proximity to CIS countries.

Which authority is responsible for regulating virtual assets in the Czech Republic?

The Financial Analytical Office (FAU) is the main supervisory body regulating virtual assets in the Czech Republic.

What services can be provided with a Crypto License in the Czech Republic?

With a Crypto License in the Czech Republic, companies can provide services related to virtual assets, including buying, selling, storing, exchanging, managing, transferring virtual assets, and other related services.

What documents and information are required to obtain a Crypto License in the Czech Republic?

To obtain a Crypto License in the Czech Republic, proof of identity of the company’s directors and shareholders, addresses of residence of the company’s directors and shareholders, and a certificate of no criminal record for the company’s director (issued at least 3 months ago) are required.

What registration and incorporation services does COREDO offer in accordance with Czech Republic legislation?

COREDO can assist with the registration and incorporation of a company in accordance with the Czech Republic legislation. This includes preparing and submitting all necessary documents, as well as providing consultations and assistance regarding compliance with legal requirements.

Is cryptocurrency legal in the Czech Republic?

Cryptocurrency is fully legalised in the Czech Republic. To conduct business operations, a company must notify the State authorities of its intention to work with cryptocurrency through the Czech Trade Licensing Register.

How long does it take to register a cryptocurrency (VASP) company?

The registration of such a company typically takes 3-6 weeks.

Who is eligible to establish a cryptocurrency company in the Czech Republic?

Any person, regardless of their place of residence, can establish a cryptocurrency company in the Czech Republic. All individuals associated with the company must provide a certificate of no criminal record.

What is the validity period of a Crypto License in the Czech Republic?

A Crypto License issued in the Czech Republic has an unlimited validity period.

What is the minimum capital required to open a cryptocurrency company in the Czech Republic?

To obtain a business licence, a minimum statutory capital of 1 Czech crown must be deposited into the company’s treasury.

What are the tax rates for cryptocurrency companies in the Czech Republic?

Companies operating with cryptocurrency in the Czech Republic are subject to a 19% corporate income tax.

Is it possible to register a cryptocurrency company in the Czech Republic remotely?

COREDO specialists can carry out the procedure for registering a cryptocurrency company remotely based on power of attorney.

What services are included in the cost of registering a cryptocurrency company in the Czech Republic?

The registration of a legal entity in the Czech Republic, document translations, legal address for 1 year, submission of an application for obtaining a crypto licence, payment of notarial and government fees, and standard AML policies are included in the cost.

Cryptocurrency licence for clients from China: Unlock the potential of your cryptocurrency business with our unique service.

What are the benefits of obtaining a cryptocurrency licence in the Czech Republic and EU, more broadly?

How can we help?

What is the general procedure for obtaining a Crypto License in the Czech Republic?

Why should you turn to us specifically?

FAQ:

Cryptocurrency licence for clients from China:
Unlock the potential of your cryptocurrency business with our unique service.