Crypto License Czech Republic
A welcome home for crypto companies
No share capital required
No local staff required
Licenses recognized worldwide
Considerably Low Licensing services
- BVI Cryptocurrency Licensing and Regulations
- Canada MSB Crypto License
- Czech Republic – Crypto License
- Isle of Man Cryptocurrency
Exchange & Trade
Crypto Exchange & Wallet License
- Cyprus Brokerage Services
Forex Trading License
- Labuan Money Broker License (Forex)
- Mauritius Investment Dealer
& Broker License
- Seychelles Securities Dealers License, Forex
- Vanuatu Securities Dealers
Licenses - Forex
Institutions (EMI - PSP)
- Canada MSB
Alternative to EU EMI license
A Location for E-Money and Payment Institutions
Ireland EMI License
Payment Intermediary Services
Online Payment Services Provider (PSP)
- New Zealand FSP
Financial Services Providers
One of the World’s Prime Location for
E-Money and Payment Institutions
- BVI Hedge Funds
- Panama PIF20 – PIF50
Private Placement Funds in Panama
- UK PFLP
Private Fund Limited Partnerships
- Luxembourg - Private Asset
Management Company (SPF)
- Luxembourg SOPARFI
Holding & Finance Company
- Vanuatu Securities Dealers
Foreign Exchange (FX)
One of the highly regarded jurisdictions in Central Europe,permitting various types of businesses related to cryptocurrency
Option to acquire pre-existing solutions
No mandatory share capital
Absence of a compulsory local staff member
Globally recognized licenses
Regulatory framework that is risk-focused and less cumbersome
The Czech Republic's favorable stance on cryptocurrencies and its streamlined bureaucratic processes have transformed it into a hospitable environment for crypto companies. These entities are expected to align their core activities with overarching legislation and comply with the EU-imposed Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) requirements.
While the Czech Republic lacks a specific national regulatory framework for overseeing crypto companies, the entire Czech crypto sector is subject to the European Union's "Security of Internet Payments and Cryptocurrencies" guidelines. The oversight of the financial market in the Czech Republic falls under the purview of the Czech National Bank (CNB).
Possessing a Czech crypto license grants the license holder the capability to offer the following services:
- Trading cryptocurrency for fiat currency (crypto-to-fiat exchange).
- Converting fiat currency to cryptocurrency (fiat-to-crypto exchange).
- Swapping one cryptocurrency for another (crypto-to-crypto exchange).
- Offering a service for crypto wallet provision (custodial crypto wallet service).
- Providing services for storing client cryptocurrencies (crypto storage service).
- Facilitating cryptocurrency transfers (crypto transfer service).
- Operating a comprehensive cryptocurrency exchange platform.
|Period for consideration
|up to 1 month
|State fee for application
|Required share capital
|from 0,04 €
|Corporate income tax
|Annual fee for supervision
|Local staff member
Types of Crypto Licenses
Presently, most cryptocurrency companies intending to commence economic activities in the Czech Republic must acquire one of the standard trade licenses from the Trade Licensing Register. These licenses grant permission to operate within the EU, allowing the establishment of offices in any member country without navigating extensive bureaucracy, provided that local authorities are duly notified in accordance with local regulations.
Depending on the intended use of the cryptocurrency, companies may apply for one of the following licenses:
Classical – Companies holding this license are authorized to exchange cryptocurrencies for a fee.
Fiat – Companies with this license can exchange both cryptocurrency and cash for a fee.
Traditional – Companies possessing this license are entitled to exchange various currencies for a fee.
Specialized – Companies holding this license are permitted to offer services for creating and managing crypto wallets and customer keys.
Failure to obtain the appropriate license exposes the crypto company to the risk of being labeled as fraudulent, facing fines of up to 500,000 CZK (approximately 21,000 EUR), and potential closure.
In securing any of the four licenses, a cryptocurrency company needs to undergo registration in the Czech Republic. The Limited Liability Company (SRO) stands out as a widely favored legal business structure in the country, thanks to its benefits such as minimal equity requirements, a limited number of founders, and the potential for exemption from financial audits. Registration can be completed within three weeks, contingent upon the timely submission of all required documentation.
Most Relevant Requirements
- Comprehensive business plan outlining the intricacies and business model for sustained operations, accompanied by detailed financial statements.
- Establishment of a registered physical office within the Czech Republic.
- Formulation of a domestic anti-money laundering/counter-financing of terrorism policy aimed at detecting and reporting fraudulent activities.
- Hiring an anti-money laundering officer, with training aligned to the company's operational model and reporting requirements (our company provides a service offering specially trained personnel for these roles).
- Description of all hardware and software employed for the proposed economic activity.
- Development of data protection procedures compliant with GDPR and other relevant legislation, while also facilitating data exchange with authorities.
- Creation of policies and procedures to safeguard client funds.
for Cryptocurrency Operations
- Conducting a company name search.
- Providing criminal records for company members to confirm their eligibility for appointments.
- Securing a legal address for a minimum period of one year.
- Initiating the opening of a corporate bank account.
- Transferring the minimum share capital, set at only 1 CZK (approximately 0.042 EUR).
- Acquiring a mandatory trade license from the Trade License Registry.
- Drafting and preparing the company statutes.
- Fulfilling the payment of state fees associated with registration – 6000 CZK (approximately 250 EUR).
- Registering the company with the local Registrar of Companies.
- Enrolling the company with the FAA for Anti-Money Laundering/Counter-Financing of Terrorism (AML/CFT) reporting obligations.
Due to the straightforward process of establishing a company and applying for a crypto license in the Czech Republic, the licensing procedure typically takes around one month. If the application is successful, the issued license is specific to particular crypto activities. It is important to note that occasionally, the license may be conditional, requiring the new licensee to fulfill additional requirements before commencing operations in the Czech Republic.
Upon obtaining a crypto license in the Czech Republic, the licensee is obligated to share pertinent reports, such as client information, with authorities like the CNB and the FAU. In the event of errors or refusal to comply, the license may be suspended, and the company might be deemed fraudulent, with no option to obtain a new license.
Collecting client documents to initiate the process
Conducting preliminary project analysis
Compiling KYC information and business description
Preparing a power of attorney for client verification
Gathering a criminal record certificate
Registering a Limited Liability Company (S.R.O.) in the Czech Republic
Translating the power of attorney and criminal records certificate into Czech
Executing the notarial deed for company registration
Submitting company documents to the Registrar of Companies
Creating AML/KYC policies tailored to the client company's cryptocurrency operations
Employing and training an AML officer for the company, aligning their skills with company operations, and providing guidance on regulatory reporting and registration
Submitting the filing for registration with the FAU, the financial analysis unit of the Czech Republic
Opening a Business Bank Account
Providing a complete set of notarized corporate documents for account opening
Engaging in preliminary discussions with the payment institution and assisting the client throughout the account opening process
All necessary documentation must be presented in the Czech language. If needed, our team is prepared to provide assistance.
Alternatively, you can opt for a remotely registered company, in which case you must furnish us with a certified power of attorney authorizing us to act on your behalf throughout the entire process.
It is imperative for cryptocurrency license holders to consistently adhere to rigorous corporate reporting obligations, closely aligned with the International Financial Reporting Standards (IFRS).
The annual financial statements are required to encompass a balance sheet, income statement, and accompanying notes. Companies subject to mandatory audit for their financial statements must additionally provide a statement of cash flows and a statement of changes in equity. These annual financial statements are publicly disclosed in the Business Register and must be submitted alongside the tax return.
Audit is compulsory for companies meeting at least two of the following criteria:
- Turnover surpasses 80 million CZK (approximately 3.37 million EUR)
- Total assets exceed 40 million CZK (approximately 1.7 million EUR)
- Average number of employees is greater than 50
Should you choose to acquire a cryptocurrency license in the Czech Republic, our proficient and proactive team is ready to provide comprehensive assistance and guidance throughout the application process. We extend our support in the formation and licensing of crypto companies, along with accounting services.
Czech Republic SRO Company and Application for Crypto License
Brand-New Application Order Inclusions
- Compilation of necessary documentation for the registration of a new company in the Czech Republic.
- Securing a legal address for the company.
- Translation of a criminal record certificate into Czech through an authorized translator.
- Settlement of state fees associated with company registration.
- Settlement of notary fees connected to company registration.
- Company registration in compliance with legal requirements.
- Acquisition of the license for offering services related to virtual assets in the Czech Republic.
- Development of internal AML/CFT documentation in adherence to legislative requirements.
- Assistance to open Business Account for Crypto Operating Activity (*)
- Provision of a comprehensive set of corporate documents, including a separate printout (notarized, apostilled, translated).
- Aid in the hiring of the KYC/AML officer and registration with tax authorities, if deemed necessary by the client.
- Eventual charge applicable by the Fintech Institution.
Brand-New Application Order
Shelf Crypto Licensed Czech Rep SRO Company
- Compilation of essential documents for the re-registration process of a company in the Czech Republic.
- Establishment of a legal address for the company.
- Settlement of state fees associated with the re-registration of the company.
- Settlement of notary fees connected to the company's re-registration.
- Development of internal AML/CFT documentation in alignment with legislative requirements.
- Support in recruiting the KYC/AML officer and facilitating registration with tax authorities.
- Assistance to open Business Account for Crypto Operating Activity (*)
- Provision of five hours of general counseling.
- (*) Eventual charge applicable by the Fintech Institution.
- The process will take approximately 2 to 3 weeks in case of a Readymade company.
Readymade company with acquired
Crypto License in Czech Republic
How long is the license acquisition process?
Due to the streamlined process of establishing a company and applying for a crypto license in the Czech Republic, obtaining a license may take as little as 3-4 weeks.
Can individuals outside the Czech Republic own a crypto company?
Certainly. Cryptocurrency companies in the Czech Republic can be established by any individual or legal entity, with no specific residency restrictions.
Can a non-resident serve on the board of a Czech Republic crypto company?
Absolutely. A Czech Republic crypto company is required to have at least one director, and no specific residency requirements apply.
Is having a bank account a prerequisite for obtaining a license?
Yes, it is.
What is the minimum authorized capital for a virtual currency service provider?
To apply for a crypto license in the Czech Republic, establishing a crypto company is a prerequisite. The minimum authorized capital for limited liability companies (S.R.O.) in the Czech Republic is 1 CZK (approximately 0.042 EUR).
What is the duration of a crypto license?
In the Czech Republic, crypto licenses are issued for an indefinite period.
What steps are required for a crypto company to obtain a license in the Czech Republic?
To successfully apply for a crypto license in the Czech Republic, crypto companies need to complete the following procedures:
- Open a corporate bank account.
- Fulfill the authorized capital requirement.
- Employ an AML officer in the Czech Republic with expertise in anti-money laundering and terrorism financing compliance.
- Initiate the license application process with the Financial Analytical Office (FAU).
What measures are implemented in the Czech Republic to prevent money laundering and the financing of terrorism?
To ensure internal compliance with anti-money laundering and terrorism financing regulations, crypto companies are obligated to hire a Czech Republic AML officer. This officer conducts an assessment of the organization to identify criminal risk exposure and financial crime. Additionally, companies may be subject to an external audit under certain specified criteria.
Our lawyers and financial services specialists at Atrium Legal Lab provide solutions to clients by combining the traditional legal fabric with new technologies.
Czech Republic Crypto Licenses are recognized worldwide. It provides excellent advantages, such as:
- Fast project implementation
- No share capital required
- No obligatory local staff member
- Extremely Low Cost
Atrium Legal Lab has a team of trained professionals to advise clients who are interested to get licensed as a Virtual Asset Services Provider (VASP) in Czech Republic.
In particular, we welcome questions about Czech Crypto registration and are pleased to assist you.
Our Company Services
Services we DO and Services we DO NOT DO
Our company is EXCLUSIVELY engaged in assisting worldwide clients, either individuals or corporate entities, to get duly and properly registered and licensed with local Regulators and Financial Authorities to get respective official licenses to legally carry out their cryptocurrency business activities.
Atrium Legal Lab does not carry out any sort of cryptocurrency business trade or financial service!
You would like to discuss with us
You can either call or email us.
One of our Customer Representatives will be most pleased to help and assist you
The information and materials contained in this website do not constitute an offer, invitation, solicitation, advice or recommendation to buy the products and services offered and rendered by Atrium Legal Lab and shall be applied with prior consultation.
Atrium Legal Lab does not offer legal or tax advice without consultation with certified professionals with related appropriate skill and expertise.
The information contained in this website is for general guidance on matters of interest only and should not be considered as guidance for financial or tax decisions, or a substitute for specific professional consultation.
Atrium Legal Lab is not a bank, nor does it provide banking services. Atrium Legal Lab offers international company formation, corporate administration services, and bank/broker introductory services and account opening assistance.
This website is only used for promotional marketing purposes of Atrium Legal Lab and is not intended to portray that this is the site of a bank. All prospective clients should consult a properly qualified tax professional in their own country to determine their own tax implications prior to embarking on any strategy described in this website. Since laws in each country are different, constantly change and can be subject to different interpretations by courts of law, any information herein regarding tax minimization needs to be verified by such competent counsel. While we have made every effort to ensure that the information contained in this website is accurate and correct due to constant changes in laws, rules and regulations Atrium Legal Lab Ltd accepts no liability for any loss or damage arising directly or indirectly from action taken or not taken relying on the information contained in this website. In particular no warranty is given as to the completeness, accuracy, reliability of such information and as to whether it is at all times up to date.
Atrium Legal Lab accepts no liability for any loss or damage direct or indirectly arising from the application of any information contained in this website, including any loss, damage or expenses arising from, but not limited to, any defect, error, mistake, inaccuracy, reliability of this website, its contents or related services, or due to any unavailability of this Site or any part thereof of any contents or related services.
Due to our internal policies to prevent fraudulent activities or violations of our internal AML policies we are regretting that we do not provide consultations, email support, on-boarding activities and customer care to all OECD black listed countries and their citizens / entities.