lithuania

Should I buy a ready-made crypto company in Lithuania?

Registering a company from scratch and getting a license is a bureaucratic procedure that can take a lot of time. A pre-established company can be a perfect solution if you want to be efficient and save time collecting documents, the crypto license vetting process, and setting up a bank account. Our top experts will gladly answer all your questions and make the transition process as smooth as possible.

Advantages of Running a Crypto Business in Lithuania

• Easy access to any of the EU countries.
• Ability to work from outside the EU.
• Transparent legislation regulates the cryptocurrency industry, making the market more predictable and safe.
• You can open a cryptocurrency investment fund.
• You can partly use crypto assets in financial markets.
• No currency controls.
• Availability of ICO and international crowdfunding platforms.
• The income tax is 15%, which can be cut to 0-5% if your company’s annual income is less than €300,000.
• Possibility of obtaining a residence permit.
• No VAT for crypto exchange services.

One can obtain a crypto license in Lithuania from scratch, so you don’t necessarily need to buy a ready-made company. In fact, there are a few downsides if you choose this option. Let’s take a look at the requirements for a crypto company’s initial registration:

• The minimum authorized capital is €2,500.
• It can be the same person, but there must be a shareholder, a director, and a security expert who monitors compliance with AML requirements.
• Foreigners can fully own crypto businesses.
• Top managers must have a spotless business reputation and no dark history linked with scams.
• The company’s office can be abroad.
• A detailed business plan is a must.

What are the types of crypto licenses in Lithuania?

Like in many other states that regulate crypto transactions, Lithuania has only two types of crypto licenses. In the first scenario, it allows your company legally exchange digital assets for other digital assets and fiat money. In the second case, the company can provide crypto storage services using crypto wallets.

Depending on multiple factors, including your company’s scope of activities, you may need to get one or both licenses. Providing correct data and transparency is essential because FIU controls crypto business activities. This department investigates financial crimes and ensures the safety and reliability of the market.

How long does it take to arrange everything? When can the shelf company start working on the Lithuanian crypto market?

Usually, the transfer takes around 2-3 weeks. The ready-made company allows you to bypass many bureaucratic road bumps. The regulator will re-register the information about the company’s new owners, and you will be able to start working very quickly. A Lithuanian crypto license will allow your business to operate legally on the European crypto market.

One of the ways to become a part of the crypto business society in the EU is to buy a pre-established cryptocurrency business in Lithuania.

It can be a suitable investment for those who don’t want to lose time. The nominal service is available for your convenience, and a bank account opening is one of the things that comes with the package.