portugal

How to Apply for the Crypto License

Obtaining a cryptocurrency license in Portugal is a challenging and intricate process, and we suggest seeking assistance from our experts. Our team will assist in gathering and organizing the necessary documents, paying registration fees, and submitting the license application. On average, getting a crypto license in Portugal takes 3-6 months. Our experts have vital experience that will help you obtain it much quicker than if you apply independently.

If you are interested in a Portuguese crypto license, the following our services can also be beneficial for your business:

• Company registration in Madeira and other locations.
• Opening of a corporate bank account.
• State fees payment.
• Interactions with the local tax inspectorate.
• Getting a NIF identification number which is vital for some of the transactions within the country.
• Legal address for rent.
• Checking organizations for AML/KYC requirements.

It’s a partial list of our services, so if you have additional questions, feel free to contact our professionals. If we register your cryptocurrency company in Portugal, we can also take care of your accounting and annual renewal of the company permit, if necessary.

Requirements for the Crypto License Applicants

• The company must be registered in Portugal.
• A physical office must be located in Portugal.
• You must present a detailed business plan.
• Director or shareholder are not required to have a Portuguese citizenship.
• Completion of anti-fraud and anti-money laundering (AML / KYC) courses.
• Provide documents describing risk management policies.
• No share capital requirements.
• Obligatory bookkeeping.
• Low 5% corporate tax.
• Prove clean biography of directors, shareholders, and beneficiaries.
• Provide the registrar papers of financial capability.

Businesses offering digital currency services in Portugal are required to obtain a cryptocurrency license. It is a crucial document that attests to a company’s certification, verification, prestige, and trustworthiness, allowing entrepreneurs to conduct their operations legally in Portugal.

Registering a cryptocurrency company on Madeira is a great option to maximize tax benefits. Madeira is an island and a jurisdiction under Portugal. The Central Bank of Portugal is responsible for issuing permits to engage in crypto activities.

Perks of Running a Crypto Business in Portugal

• Ability to become a resident.
• Crypto trading profits are exempt from tax for individuals.
• High standards of life, safety, and low prices.
• Low tax rates compared to the other countries of the European Union.
• The regulator is willing to assist businesses and supports startups.