Lexcarta law office provides full assistance in granting cypto license for a new company also we provide a ready made companies with an active crypto license.
Our on-site lawyers and collaborating AML compliance professionals provide structured solutions for crypto exchange and wallet licenses setup with corporate services support. The company with a Polish crypto license setup can be completed remotely, without holder’s personal visit in Poland.
Why Poland for crypto license?
Poland is EU member with unified legal system. Polish regulations on crypto license can be regarded as more flexible compering to other EU countries in terms of the setup process and come at lower on-going cost as there is no specific requirement for on-site compliance personnel.
The best vehicle for non-residents to obtain a Polish crypto license and provide cryptocurrency exchange and/or wallet services is a limited liability company (Spółka z ograniczoną odpowiedzialnością . z o.o.) . The minimum share capital is 5000 PLN (approx. 1100 EUR). There is no requirement for appointing a local director or secretary. The company setup can be carried out fully remotely with no visit required, it usually takes about 10 business days from the point we receive all required original documentation. The first step we take in the service engagement is analyzing the target shareholding and management structures, which enables us to provide the list of required documentation.
A company can be incorporated/purchased remotely in two ways:
- standard paper registration on the basisi of the PoA in notarised in a front of a local notary or in the Polish embassy;
- online by signing documents with a trusted e-signature. (we provide Polish e -signiture for foreigners)
The minimum company structure requirement is currently 1 person who can act as the shareholder, chairman of the management board and AML compliance. It is important to note that the management board member(s) of the company must have experience in the area of virtual currencies operations for a minimum of one year; or alternatively it is possible to take an online course to qualify for the regulator.
We provide a dedicated training for management board member(s) to meet the requirements of the Polish regulator.
We provide a company with a crypto licence in Poland in 3 packages :
1) incorporation of a new company and granting VASP license for (without bank accounts) 10000€
2) ready LLC shelf company, a NEW license transfer (without bank accounts) € 15.000
3) ready LLC shelf company, Activated license, with bank accounts (EMI) € 25.000
To start the procedure we need from client:
- Valid copy of passport and ID card or utility bill confirming an address of residence
- notarized Power of Attorney (PoA)
- Description of planned business model and licensed activities
- Resume (CV) listing employment and education background for all participants
- Website address where services will be offered
- Non-criminal certificate from the registry of convictions (not older than 3 months) for shareholder(s), board member(s), ultimate beneficiary owner(s)
In the first stage we will gather all information and provide step by step process overview according to each case, sometimes more documents may be required.
It is also important to consider that a company holding the crypto license in Poland has to keep a detailed and up-to-date overview of all clients and transactions according to the AML/KYC regulations. The regulator may make inquiries about the activities of the company, especially in regards to following the predefined AML/KYC policies. Further notices have to be made to the regulator in case certain transaction thresholds are exceeded. Our lawyers and collaborating AML compliance professionals may support in compiling the full set of legal and compliance documentation as the regulator may request to check and monitor the internal procedures.