Cryptocurrency license in Bosnia and Herzegovina - COREDO

Cryptocurrency license in Bosnia and Herzegovina

Cost from 19 000 EUR

Virtual Asset Service Provider (VASP)

Bosnia and Herzegovina is an attractive and promising destination for those looking to engage in commercial activities within the cryptocurrency sector. Although a comprehensive legislative framework for cryptocurrencies is not yet in place, the government is paying significant attention to the issue. Drawing on the experience of neighbouring countries, they are working on developing regulations aimed at establishing the legal oversight of digital assets.

Cryptocurrencies in Bosnia and Herzegovina are not recognised as an official means of payment and do not hold legal tender status. However, they are not prohibited for trading and investment purposes, and both individuals and legal entities are free to use them. The growing interest in the development of the cryptocurrency industry, the country’s readiness to integrate with the international cryptocurrency market, and the desire to attract foreign investors give reason to hope that a legal framework will soon be established, facilitating the formalisation of cryptocurrency activities in Bosnia and Herzegovina.

COST OF OBTAINING A CRYPTOCURRENCY LICENSE IN BOSNIA AND HERZEGOVINA

The assistance of COREDO’s team in obtaining a cryptocurrency licence in Bosnia and Herzegovina will streamline the entire process and minimise potential difficulties.

Service package cost: €19,000 + VAT.
Estimated timeframe for obtaining the licence: 1 to 3 months.

Note: Prices and timelines may vary depending on the specifics of each case.

COST OF OBTAINING A CRYPTOCURRENCY LICENSE IN BOSNIA AND HERZEGOVINA

The service package offered by COREDO includes:

  • Preparation of necessary documents for the registration and establishment of a new company in Bosnia and Herzegovina (remote registration is possible).
  • Provision of a legal address for one year.
  • Payment of government fees related to the registration and establishment of the company and obtaining the licence.
  • Assistance in opening a bank account in Bosnia and Herzegovina – both corporate and segregated accounts.
  • Full legal support for obtaining a virtual asset service provider (VASP) licence.
  • Preparation of standard internal documentation – including Terms of Service and AML/CFT (Anti-Money Laundering/Countering the Financing of Terrorism) policy.
  • Registration and establishment of the company in accordance with the country’s laws.
  • Additional services (by agreement).
The service package offered by COREDO includes:

ADVANTAGES OF OBTAINING A LICENSE IN BOSNIA AND HERZEGOVINA

Engaging in cryptocurrency activities in Bosnia and Herzegovina offers significant potential. Registering a relevant company in the country provides several benefits, including:

  • Favourable tax policy, allowing crypto companies can benefit from a minimal tax burden.
  • Bosnia and Herzegovina is not a member of the European Union, which means it is not subject to the strict MiCA regulations enforced across the EU.
  • No physical office requirements.
  • The broad range of opportunities — holding a virtual asset service provider (VASP) licence allows offering the following services:
    • Custody and administration of virtual currencies on behalf of third parties.
    • Operating a platform that allows customers to trade virtual currencies.
    • Sale and purchase of virtual currencies for fiat currency.
    • Exchange of virtual currencies for other virtual currencies.
    • Transmission of the virtual currencies, including reception and execution of orders for sale and purchase of virtual currencies on behalf of third parties.
    • Underwriting of virtual currencies and/or placing of virtual currencies.

DOCUMENTS REQUIRED TO OBTAIN A CRYPTOCURRENCY LICENSE IN BOSNIA AND HERZEGOVINA

To start the process of registering a company and obtaining a cryptocurrency licence in Bosnia and Herzegovina, the client must provide COREDO with the following documents and information:

  • Three options for the company name.
  • Identification documents of the director(s) and founder(s) of the company – a photo or scan of their passport and ID or driver’s licence (both sides).
  • Proof of residential address for the director(s) and founder(s) of the company, dated within the last three months (such as a bank statement, utility bill, or landline telephone bill).
  • Proof of available funds for the founder(s) of the company, in the form of a bank account statement for the last three months or a tax return.
  • A detailed description of the proposed business activities.
  • Information about the AML Officer, including a CV.
  • A completed and signed KYC form.

Official bodies may request additional information and/or documents for the registration and establishment of the company. It is in the client’s best interest to provide these as promptly as possible.

As the regulation of cryptocurrencies is still evolving, it is crucial to stay informed of legislative updates that may impact the activities of cryptocurrency companies in the country. To facilitate the process of starting a cryptocurrency business in Bosnia and Herzegovina and ensure compliance with all current rules and regulations, it is advisable to seek assistance from COREDO specialists.

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