Cryptocurrency licence in El Salvador. Cost. List of requirements. Features of licensing

Legal Framework

El Salvador has established one of the world’s first comprehensive legal frameworks for digital assets, rendering the country an attractive jurisdiction for cryptocurrency businesses. Since 2021, Bitcoin has been recognised as legal tender alongside the United States Dollar.

The Digital Assets Law (Ley Emisión de Activos Digitales, 2022) governs the circulation and public offering of digital assets, and defines cryptocurrency companies as entities providing exchange, custody, and maintenance services in respect of third-party assets.

The right to provide such services is reserved exclusively for entities holding a Digital Asset Service Provider (DASP) licence. Licensed entities are authorised to carry out cryptocurrency exchange operations, custody of client assets, and ancillary services, subject to mandatory compliance with Anti-Money Laundering (AML), Know Your Customer (KYC), and cybersecurity requirements.

The state actively supports the adoption of digital finance through the development of dedicated infrastructure: hundreds of Bitcoin ATMs and the “Chivo” digital wallet ecosystem facilitate the use of cryptocurrency in everyday transactions.

Types of activities under a DASP licence

DASP-licensed companies in El Salvador may provide a wide range of cryptocurrency services in line with their approved business plan and regulatory requirements. Key areas of activity include:

01Custody of digital assets

Provision of custodial services for clients, including individual and joint wallets, ensuring secure storage and management of digital assets.

02Exchange services

Fiat-to-crypto, crypto-to-fiat, and crypto-to-crypto exchange services.

03Digital asset transfers

Facilitation of digital asset transfers between users and within platforms, in compliance with AML/KYC procedures and internal risk control measures.

04Provision of trading platforms

Management of one or more platforms connecting multiple participants for the purchase and sale of crypto assets. Transactions may involve exchanges between crypto and fiat or between different crypto assets, with transparency and client data protection ensured.

05Working with crypto derivatives

Execution of crypto derivative transactions within a proper deal structure and a risk management framework aligned with the company’s internal policies.

06Crypto lending

Loans secured by digital assets.
Margin lending under an appropriate structure and risk policies.
P2P lending in accordance with internal policies, subject to risk controls.

07Issuance and trading of security tokens

Issuance and circulation of security tokens in full compliance with regulatory requirements and investor protection rules, including disclosure obligations and transaction monitoring.

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Advantages of obtaining a crypto licence in El Salvador

A DASP licence offers companies several key benefits:

Licensed companies are exempt from income tax and capital gains derived from digital asset operations. This applies to both digital asset issuers and service providers, allowing for optimisation of financial flows.

Establishing a presence in El Salvador provides companies with first-mover advantages in the rapidly growing Latin American crypto sector, enhancing international reputation and partner trust.

The minimum share capital requirement is only 2,000 USD, with just 5% needed at registration, significantly reducing initial financial outlay.

There is no obligation to hire local employees or establish a local management team. Companies are free to structure their organisation and leadership according to business needs.

The country offers banks and financial institutions that support digital asset projects.

A licence obtained in El Salvador is recognised abroad, opening opportunities for expansion into new markets and global operations.

The licensing process is structured and clear. Any government fees or payments not covered by exemptions can be legally settled using cryptocurrency.

The cost of obtaining a cryptocurrency license in El Salvador

COREDO offers its clients a choice of any of the following services individually or as a complete package.

01. Basic package

16000 EUR + VAT

Full turnkey company formation assistance.
TIN number obtaining for 2 shareholders.
Address of registration for 1 year.
Set of corporate documents in Spanish.
Standard AML/KYC Policy.
Assistance with share capital contribution.
Assistance with registering the BTC license within the National Commission for Digital Assets (“NCDA”).
Acting as a local agent for notification before the regulator for its BTC-related activities for 1 year.

02. Advanced package

37000 EUR + VAT

All services from the “Basic package”.
Personalised AML/KYC Policy.
Provision of exclusive local proprietor and alternate Compliance Officers with a direct employment agreement for the period of DASP license obtainment (4 months included).
Assistance with registering the DASP license within the National Commission for Digital Assets (“NCDA”).
Preparation of the internal procedures: Enterprise-Wide Risk Assessment, Business Continuity Policy, InfoSec Policy, Winding Down Policy, Compliance Management Policy, Risk Management Policy, Safeguarding of Assets, Code of Ethics.
Governmental fee of 6270 USD.
Set of corporate documents with an apostille and translation into the English language.

03. Full package

47500 EUR + VAT

All services from the “Advanced package”.
Revision of your Business and Financial Plans by a lawyer.
Provision of exclusive local proprietor and alternate Compliance Officers with a direct employment agreement for the period of DASP license obtainment (4 months included).
Complete AML registration at the Financial Investigation Unit.
Corporate account opening in a local conventional bank.
Corporate account opening in a European EMI (segregated B2B/B2C accounts, multicurrency accounts).
Accounting legalisation system, initial balance of the company, and issuance of corporate books by a certified auditor.

The price may vary depending on the specific case.

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What factors determine the final cost of COREDO services:

The “Full Package” and “Advanced Package” include 250 hours of legal support. Each additional hour is charged at 250 EUR + VAT.
The results of the initial case assessment determine the level of involvement of COREDO specialists in preparing the application and developing the necessary documents.

Key requirements for obtaining a licence in El Salvador

To successfully obtain a DASP licence, a company must meet several mandatory criteria, as regulated by national law and supervisory practices:

Corporate structure and operational readiness

Incorporation of a local legal entity with a minimum of two shareholders, which may be individuals or legal entities.
All shareholders must hold a Tax Identification Number (NIT) in El Salvador.
Demonstration of operational readiness to provide digital asset services, including processes, IT systems, staffing, and infrastructure.

Capital requirements

Minimum share capital of 2,000 USD.
Initial contribution may be as low as 5% (100 USD), with the remainder paid in accordance with regulatory rules.

Risk management, compliance, and security

Development and verification of an internal risk management and control system, including detailed AML procedures and information security policies.
Appointment of two local Compliance Officers – local proprietor and alternate (the company may additionally appoint its own AML Officer, who need not be a resident of El Salvador).

Operational requirements and customer support

Submission of a description of the technological platform and IT infrastructure to be used for the provision of services.
Maintenance of an organised and functioning customer support system appropriate to the nature of the services offered.

Licence maintenance obligations

Commitment to annual registration renewal and payment of the prescribed fees (approximately 3,750 USD) during the first half of each year.

Required documents

For company registration and licence application, the following documents must be prepared:

01

Notarised and apostilled copies of passports for all directors and shareholders.

02

Residential address proof.

E.g., utility bills.

03

Notarised and apostilled Power of Attorney for a representative to carry out registration procedures.

04

Description of the company’s organisational structure.

05

Description of the business model, including a list of digital assets intended for use.

06

Documentation of IT infrastructure and technological platforms.

07

Internal policies and procedures, including AML documentation and information security policies.

Stages of obtaining a crypto licence in El Salvador

01

Preparation and onboarding

At the initial stage, information is collected and the documentation package for company registration and subsequent licence application is prepared.
Estimated timeline: approximately 2 weeks.

02

Company registration and licensing

Legal entity establishment in El Salvador.
Corporate documents preparation.
Drafting and submission of the licence application to the National Commission of Digital Assets (NCDA).
Estimated timeline: approximately 2.5–5 months.

03

Corporate banking integration

Selection of banks and EMIs based on the client’s risk profile and prepared AML documentation.
Preparation and collection of the necessary documentation.
Management of the corporate account opening process through to final activation.
Conducted in parallel with Stage 2.

By working with COREDO, you benefit from:

In-depth expertise

We understand all the nuances of crypto regulation across different jurisdictions.

End-to-end support

We handle the entire licensing process — from application to registration.

Tailored approach

We customise our solutions to your business model, covering exchanges, brokers, DeFi projects, and other structures.

Post-licensing support

We provide advice on AML, reporting, and regulatory compliance.

Transparency and trust

We operate fully within the law, strengthening your reputation with banks and business partners.

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Cryptocurrency licence in El Salvador