Cryptocurrency licence in Slovakia

All activities related to cryptocurrency assets in Slovakia are regulated following European legislation. This regulation primarily focuses on compliance with anti-money laundering and anti-terrorism financing prescriptions. Any transactions involving digital financial assets, as well as transactions with fiat financial assets, must be transparent and traceable.

Cryptocurrencies in Slovakia are not considered securities or financial instruments, and they are not subject to regulation by the Central Bank (NBS). However, they are subject to strict legal provisions, which are spelled out in Law No. 279/2020 Coll., amending Law No. 297/2008 on the prevention of money laundering and the financing of terrorism. Cryptocurrency activity in Slovakia is monitored by the Financial Intelligence Unit (Finančná spravodajská jednotka).

Benefits of obtaining a licence in Slovakia

Slovakia, due to its favourable location and high living standards, offers an excellent environment for conducting business related to cryptocurrency assets, as such activities are entirely legal here. Among the notable advantages of obtaining a cryptocurrency licence in Slovakia are:

loyal regulation of the cryptocurrency companies’ activities;
the relative ease of obtaining a licence and its low cost;
flexible taxation system, low taxes for crypto business;
legislative stability and a high level of protection for businessmen’s rights;
100% foreign ownership of the company is allowed;
the movement of capital and income is not limited by the regulator.

Benefits of obtaining a licence in Slovakia

Documents required for obtaining a cryptocurrency licence in Slovakia

Obtaining a crypto licence in Slovakia requires the submission of the following documents:

a properly completed application;
the company’s charter and other constituent documents;
proof of a local address;
passports of the founders and directors of the company, along with confirmation of their residence in the EU;
confirmation of the professional competence of the management;
a certificate of no criminal records for senior management.

Documents required for obtaining a cryptocurrency licence in Slovakia

REQUIREMENTS FOR APPLYING FOR A LICENCE

Companies planning to exchange digital currencies (cryptocurrencies) for fiat currencies and provide digital currency wallet services must obtain special permission from the state. A separate license is issued for each of these activities. This license can be obtained by any legal entity that meets the following requirements:

the company must be registered within the territory of Slovakia;
confirmation of the minimum authorised capital of 5,000 EUR;
a registered official address in Slovakia;
presence of at least one Slovak resident or OECD citizen in the company structure (this can be a director, board member or any employee appointed as a “responsible person”);
a detailed and realistic business plan.

Typically, the total period for issuing and obtaining a cryptocurrency licence in Slovakia is about 4-5 weeks.

COST OF OBTAINING A CRYPTO LICENCE IN SLOVAKIA

COREDO specialists are pleased to offer assistance in obtaining a cryptocurrency licence by registering a legal entity in Slovakia.

Our service package is priced at 5000 EUR + VAT, with an estimated timeframe of 4–6 weeks from the date of receiving the original documents from the customer.

This package includes:

Registration and incorporation of the company in compliance with the law.
Acquisition of a legal address for the company for 1 year.
Preparation of the AML/CFT internal documentation in accordance with legal requirements.
Obtaining an authorisation/licenсe to provide services related to the virtual assets.
Payment of notary and state fees.
Translation services.
Registration with the Financial Authority of Slovakia.

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Cryptocurrency licence in Slovakia

Virtual Asset Service Provider (VASP)

Benefits of obtaining a licence in Slovakia

Documents required for obtaining a cryptocurrency licence in Slovakia

REQUIREMENTS FOR APPLYING FOR A LICENCE

COST OF OBTAINING A CRYPTO LICENCE IN SLOVAKIA

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