Cryptocurrency license in the Czech Republic

Cryptocurrency license in Czech Republic

Over the past decade, the Czech Republic has evolved into a country with a well-developed and sophisticated financial system as well as transparent legislation. The crypto regulation in the Czech Republic enables to conduct reliable businesses that clients are willing to trust. One of the standards is to obtain the crypto licence that allows a company to provide virtual assets services to its clients.
The main supervisory authority responsible for regulating virtual assets is the Financial Analytical Office (FAU).

ADVANTAGES OF OBTAINING A VIRTUAL ASSETS LICENCE IN THE CZECH REPUBLIC

Registering a crypto company in the Czech Republic provides many opportunities for conducting a successful international business. This licence entitles a company to do business throughout the European Union, making its services available almost all over the world.
The Czech Republic has the advantage of relatively low labour costs, transparency of the tax system and proximity to the CIS countries, both mentally and geographically.

COST OF OBTAINING A LICENCE IN THE CZECH REPUBLIC

The price for the service of obtaining a Virtual assets licence in the Czech Republic is 3000 EUR + VAT.

The list of services includes in the price:

Preparation of the necessary documents for registration and incorporation of a new Company in the Czech Republic (physical/remote registration);
Acquisition of a legal address for the Company for 1 year;
Payment of the state fees related to the registration and incorporation of the Company;
Registration and incorporation of the Company in accordance with law;
Obtaining from the Trade Licensing Office the necessary authorization for the Company on providing services related to the virtual assets in the Czech Republic;
AML/CFT internal documentation in accordance with the requirements of AML/CFT law;

COST OF OBTAINING A LICENCE IN THE CZECH REPUBLIC

ADVANTAGES OF OBTAINING A LICENCE IN THE CZECH REPUBLIC

Registration and incorporation of the Company in accordance with law.
Possibility to provide services related to the virtual assets in the Czech Republic, i.e. buy, sell, store, manage, transfer or facilitate the purchase or sale of virtual assets (crypto-assets) and provide other similar services related to the virtual assets.
Duly and properly compiled AML/CFT internal documentation in accordance with the requirements of AML/CFT law;

REQUIREMENTS WHEN APPLYING FOR A LICENCE

When applying for this type of licence, a company has to comply with few requirements. The standard list of requirements is as follows:

The director and shareholder should have no criminal records.
Compliance officer should be declared to Financial Analytical Office (FAU).

DOCUMENTS AND INFORMATION NECESSARY FOR OBTAINING A LICENCE IN THE CZECH REPUBLIC

Identity cards of the director(s) and shareholder(s) of the Company;
Addresses of residence of the director(s) and shareholder(s) of the Company;
Certificate of non-conviction of the director of the Company (not older than 3 months).

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CRYPTOCURRENCY LICENSE IN CZECH REPUBLIC

Virtual Asset Service Provider (VASP)

ADVANTAGES OF OBTAINING A VIRTUAL ASSETS LICENCE IN THE CZECH REPUBLIC

COST OF OBTAINING A LICENCE IN THE CZECH REPUBLIC

ADVANTAGES OF OBTAINING A LICENCE IN THE CZECH REPUBLIC

REQUIREMENTS WHEN APPLYING FOR A LICENCE

DOCUMENTS AND INFORMATION NECESSARY FOR OBTAINING A LICENCE IN THE CZECH REPUBLIC