How to open your cryptocurrency business in the Czech Republic

The Czech Republic is considered one of the most attractive jurisdictions in the European Union and in the world. For those who plan to get Czech Republic crypto license, this country offers many advantages as clear procedures, transparent regulation, the ability to enter the prospective market, and more.

The benefits of jurisdiction for cryptocurrency business

In recent years, the Czech Republic has emerged many successful Fintech Harbor Consulting Ltd international scale, which was made possible by the optimal legal and tax environment in the country.

This prestigious European jurisdiction is distinguished by a clear and transparent tax system, as well as a profitable geographical location, which provides convenient access to the European market. Among other benefits of cryptobusiness is here:

• availability of an extensive network of agreements to avoid double taxation;
• non-resident directors do not need to obtain a work permit;
• possibility of remote registration of a cryptocurrency company in the Czech Republic;
• holders of shares and business executives are not obliged to be residents;
• the founders of companies are exempt from the requirement to make authorized capital;
• developed banking services for cryptoprosectors;
• low competition in the cryptosphere.

Czech jurisdiction is popular with a large number of potential investors. This aspect significantly increases the opportunity to strengthen your business.

Requirements for establishing cryptocurrency business in the Czech Republic

To obtain crypto license in czech republic, the applicant must formally register a legal entity. The registration of the company can be completed in three weeks if all documents are properly submitted to the control bodies.

Depending on the type of license you are interested in, different legitimacy criteria can be applied. However, there are also general requirements for candidates:

• Registration - you can choose a limited liability company (SRO), joint -stock company (AS) or cooperative (KS).
• A good reputation is a requirement not only for candidates but also for the company's management. This is a certificate of lack of criminal crimes.
• Sufficient capital - candidates should prove their financial capacity and availability of resources necessary for the stable work of the company and performing operational obligations.
• Expertness and experience - to obtain a license for the exchange of cryptocurrencies in the Czech Republic, you need to have a deep knowledge in the financial sphere and cryptocurrency industry. This is extremely important for further activity in the field of cryptocurrencies.

The organization must confirm the compliance of AML-law, which aims to prevent illegal currency transactions and protection of client data.