As one of the few advisory companies in Estonia, we are competent to offer virtual currency service providers (VASP) support services, such as accounting, tax and legal advice, and internal audits.

  • Setting up/registering your crypto asset service company
  • Tax advisory services
  • Legal advisory services
  • Business advisory services
  • Business risk services and internal audit
  • Accounting services
  • Payroll services
  • Human resources and recruitment services

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Estonia: Unleashing Competitive Advantages for Crypto Asset Service Providers

Estonia has emerged as a global frontrunner in facilitating crypto asset services, offering a highly conducive environment for virtual asset service providers (VASPs) to thrive. With its forward-thinking legislation, favorable tax regime, streamlined licensing process, and vibrant fintech ecosystem, Estonia has positioned itself as a go-to destination for crypto-related businesses seeking a competitive edge. This overview highlights the key factors that contribute to Estonia's appeal and underscores the country's unique advantages in the crypto asset industry. Read more from the article.

Overview of VASP requirements:

License required  Yes
Services and activities permitted Wallet service, transfer service, exchange service, emitting service
Regulatory authority Financial Intelligence Unit
Minimum capital requirements €100k to €250k depending on the services offered
Local board required Yes
Local office required Yes
Local compliance officer required Yes
Auditing requirement Yes
Internal control/internal auditor required Yes
Own funds requirement Yes
Corporate tax 20%. Applies only if the profits of the company are distributed.
VAT 20% or 0%. Financial services are tax-free.
Double tax treaty network Estonia has signed comprehensive Avoidance of Double Taxation Agreements (DTAs) with 64 countries; 62 are in effect.
Sharing the license with a subsidiary  Possible. The subsidiary must also meet all the same requirements.

Its important to note that some of these aspects will change with the adaption of MiCAR. MiCAR will enter into force by the end of 2024.

Are you establishing your business in Estonia?

We help you to set up and grow your business. Expanding into new international markets can be challenging due to the many issues to consider and resolve. Our team can provide expert advice and insight to support you every step of the way.