Because only the Czech National Bank controls the financial system, including cryptocurrencies, the Czech Republic is one of the most appealing countries in the EU for bitcoin operations. Our local partners and we will give professional assistance in the remote acquisition of a Czech Republic crypto license from the ground up with the promise of a turnkey result, or we will offer a ready-made firm with an acquired Czech crypto license in less than two weeks.
There is currently no special crypto licensing framework in the Czech Republic; yet, the provision of cryptocurrency-related services is considered licensed trade, with the necessity to register the company in the Trade Licensing Register controlled by the Czech Ministry Of Industry And Trade.
The Czech Republic does not need the formation of a corporate account for the incorporation of a company (in the form of an LLC), and the minimum share capital requirement is 1 CZK (Czech Krone) per shareholder, which is 0.04 Euro.
As an outcome, compared to most other European countries for crypto enterprises, The Czech Republic will comply to MiCA Directive in 2024-2025.
Exchange between virtual currencies and means of payment. VASP companies have the authorization to provide exchange services between various forms of virtual assets with fiat currency.
Examples: Euro/BTC or ETH/USD.
But also Intermediation in the exchanges referred to above
A crypto license in Poland allows its holder to provide services for exchanging crypto to crypto, which means their customers can buy or sell available utility tokens in exchange for other tokens.
The VASP license also allows its operator to act as a custodian, and store crypto assets on behalf of its clients in custodian wallets, which means that the operator may open a wallet for a customer while keeping the private keys.
Virtual Assets Service Providers may organize ICOs, in which an offer to buy the VASP's cryptocurrency is issued for the first time. It is vital to note that during an ICO, the VASP company may only issue utility tokens.
VASPs have an option to apply stacking as a secondary technique for generating passive revenue from cryptocurrencies. Many blockchains employ Proof-of-Stake and related consensus techniques. This is a profitable alternative to traditional crypto keeping and is equivalent to crypto bank deposits.
Companies introducing wallets for storing cryptocurrency, creating encrypted client keys, as well as storing them.
Establishes grounds for Banks’ activities and may help for understanding principle of custody services provision.
Contains definitions of Financial instruments, as well requirements for transactions with such instruments.
Contains Basic principles of asset management and requirements for fund managers.
Regulates payment systems (incl. EMIs) and licensing of this type of business
Companies based in the Czech Republic are taxed based on their profits.
Non-resident corporations are only taxed on earnings earned in the Czech Republic. However, if the company's main office is located in the Czech Republic, it is designated as a resident taxpayer. The Czech Republic (BT) has a 19% income tax.
Furthermore, if the company has officially employed employees, it is required to pay social insurance, health insurance, and pension fund contributions. corporations that are Czech residents are taxed on their profits, whereas non-resident corporations are solely taxed on profits earned in the Czech Republic. However, if the company's main office is located in the Czech Republic, the corporation is designated as a resident taxpayer. Remember that avoiding any state-mandated crypto tax payments in the Czech Republic carries legal consequences.
In the Czech Republic, there are no requirements for local substance, such as the presence of a local office, director, or AML Officer, and international investors have a variety of options for company management.
According to the new regulation, a share capital of 1 CZK (0.04 Euro)
Realistic term for a new, from scratch company, is 1 month.
But, we sometimes have ready-made solutions that can take no more than 2 weeks. Just ask us about what we have available.