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Crypto license in Czech Republic
Support in the issuance of Czech crypto license with a guarantee of a turnkey contract.
The Czech Republic is one of the first EU countries to implement a soft regulation of virtual currencies and their status within the country. In April 2015, the governor of the National Bank, Miroslav Singer, registered a summary "Security of Internet Payments and Cryptocurrency”. Based on this document, EU laws apply to virtual currencies in the absence of restrictions from the laws of the Czech Republic.
According to the Ministry of Finance, shortly there will be no additional laws on the activities of cryptocurrency companies. Now the Czech Republic remains one of the most loyal countries to working with virtual currency. The system is built on business development, and the progressive approach makes it possible to respect the interests of all parties: businessmen and legislation.
Due to favorable legislation, the Czech Republic is attractive for cryptocurrency and IT activities. The Paralelni Polis center operates in Prague and is engaged in the development of crypto technology. In 2018, the Czech Republic opened a specialized blockchain alliance Blockchain Connect / Czech Alliance, whose main task is to develop and implement technology in the country. The support and funding of such structures indicate the government's interest in advancing innovative financial technologies and maintaining stability at the state level.
Owners of companies dealing with cryptocurrencies prefer to open a business in the jurisdiction of the Czech Republic. The Czech license allows the company to operate in all EU countries, provides greater freedom in the variety of services offered, and has several other advantages.
Types of license
According to the type of commercial activity of your company, licenses are divided into:
Classic (exchange between virtual currencies)
Required when exchanging cryptocurrency for a fee.
An exchange between cryptocurrencies to fiat money (exchanges, exchangers)
Allows a firm to exchange digital currency for FIAT or vice versa for a fee.
Traditional (intermediation in the exchange of cryptocurrency for fiat money and one cryptocurrency for another)
When providing the exchange services of items 1 and 2
Specialized (crypto business work)
Companies introducing wallets for storing cryptocurrency, creating encrypted client keys, as well as storing them.
Service packages for registration of Czech crypto license
Choose the best package of services for obtaining a crypto activity license in Czech Republic
Alternative solution
Ready-made company with virtual asset provider registration in the Czech Republic
Sequence of results
Stage 1
Gathering documents from the client to start the process
Result
Process
gathering basic information from the client; providing a preliminary package of documents for further execution of the power of attorney (PoA); clarity of project scope and budgets.
- 1.Preliminary project analysis
- 2.KYC collection and business description
- 3.Preparation of power of attorney for client attestation
- 4.Collecting criminal record certificate
Stage 2
Registration of a limited liability company (s.r.o.) in the Czech Republic
2-3 weeksResult
Process
The company is registered in the desired name; the registration card stating the activity "virtual currency exchange operator and virtual currency storage operator" is provided in Czech Republic.
- 1.Sworn translation of power of attorney and certificate of criminal records into Czech
- 2.Carrying out the notarial deed of company registration
- 3.Entry of company data into the commercial register
Stage 3
Pre-application work - 2 weeks (some steps are performed simultaneously with Stage 2)
2 weeksResult
Process
All necessary project activities are completed; fully working license.
- 1.Development of AML/KYC policies tailored to the client company's cryptocurrency operations
- 2.Hiring and training an AML officer for the company and adapting their skills to the company's operations. Instructing the officer on regulatory reporting and registration
- 3.Filing and registration with the FAU, the financial analysis unit of the Czech Republic.
Stage 4
Opening a B2B and C2B corporate account
2-3 weeksResult
Process
The company is fully operational; the corporate account is open and the organization meets the requirements of the tax authorities (accountant integrated) as well as the supervisory authority as a virtual asset service provider.
- 1.Complete set of notarized corporate documents (Register Card, AoA, MoA) for account opening
- 2.Preliminary negotiations with the payment institution and support of the client throughout the account opening process
Requirments
Advantages
Additional services
Registration as a legal entity, opening a physical office and sharing capital.
Documentation must be prepared by the requirements of the regulator as well as the acquiring bank where the account will be opened.
Provide jobs for official full-time employees and directors with experience and education in financial activities.
Develop a business plan, and a description of the software and hardware (with translation into Czech).
Draw up AML/KYC policies, risk control, and monitoring rules.
Submit a package of documents to the regulator.
Pay the state fee.
Owners and directors of the company must have an impeccable reputation and no criminal record.
At least two managers in the company.
Legal and transparent operations in the EU jurisdiction;
Attractive investment market;
No restrictions on working with banks in the Czech Republic;
Income tax - 5%;
No restrictions on residency status;
Favorable rates of service in the banking system;
Interference of state bodies in business is minimal
Insurance of deposits at the state level;
The stable and progressive economy of the country.
Financial and political stability.
Develop and apply internal rules for monitoring, and collecting information about all clients.
Identify all suspicious transactions with the transfer of information to state authorities.
To introduce records on financial transactions.
Train relevant employees.
Comprehensive and individual approach
Gofaizen & Sherle provides comprehensive services under one roof, allowing clients to plan and prioritize their chosen strategy in a very short time and with limited resources. We offer a wide range of services, including consulting, legal services, and company formation that focus on the optimal implementation of business strategies.
Versatile experience
You will receive legal and management consulting services at the highest level due to many years of experience with highly qualified specialists. Each client receives comprehensive assistance in business development and support. Every task is performed taking into account clients requests, specifics of the business, and legislation of a particular country.
Long-term partnerships
Our company establishes trusting and long-term relationships with our customers. An indicator of Gofaizen & Sherle's high level of service is the cooperation with customers on an ongoing basis.
Comprehensive and individual approach
Gofaizen & Sherle provides comprehensive services under one roof, allowing clients to plan and prioritize their chosen strategy in a very short time and with limited resources. We offer a wide range of services, including consulting, legal services, and company formation that focus on the optimal implementation of business strategies.
Versatile experience
You will receive legal and management consulting services at the highest level due to many years of experience with highly qualified specialists. Each client receives comprehensive assistance in business development and support. Every task is performed taking into account clients requests, specifics of the business, and legislation of a particular country.
Long-term partnerships
Our company establishes trusting and long-term relationships with our customers. An indicator of Gofaizen & Sherle's high level of service is the cooperation with customers on an ongoing basis.
FinTech lawyers in Czech
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Contact
Email:[email protected]
Lõõtsa tn 2a, 11415 Tallinn, Estonia
Žalgirio g. 88-101, Vilnius, Lithuania
Phone: +37066108308
License for operating activity: FIU000407
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