Apexum provides expert assistance to firms looking for one stop shop for obtaining crypto license, open bank accounts, legal , systems and everything you need for your crypto business.
Starting in 2016, companies based inside the European Union could be licensed under the Payment Services Directive and the EU Electronic Money Directive to establish cryptocurrency exchanges. The EU was the first bloc to provide a comprehensive framework for trading digital money and crypto-assets on exchange platforms and virtual networks.
Apexum will guide you through the steps required to establish a fully operational licensed cryptocurrency exchange in Lithuania that fully conforms to the current EU regulations. These now stipulate that only authorised exchanges will be allowed to trade cryptocurrencies in EU countries legally.
Feel free to contact a Apexum professional representative to schedule a consultation regarding crypto bank accounts and licensing offerings in Estonia and Slovakia.
We can help you with all your corporate services
Since the explosion of cryptocurrencies in 2016, hundreds of thousands of deals and billions of units are being bought and sold each day around the world. An online cryptocurrency exchange (also called a digital currency exchange) is now the most popular platform that allows customers to trade cryptocurrencies and swap between different digital currencies. The revenue stream of a cryptocurrency exchange comes from two possible options
Digital exchanges allow for the transfer of cryptocurrencies to and from a customer’s personal cryptocurrency wallet. The denomination of funds kept in accounts may be fiat or digital currency.
One of the primary requirements for any business wishing to trade cryptocurrencies inside the EU is to have a registered company inside the union. Lithuania is acknowledged as one of the bloc’s most advanced digital finance environments. For example, it has the second-largest number of Electronic Money Institutions – only the UK has more. In terms of the relative importance of digital banking, Lithuania far outstrips all others in the EU.
EMIs currently operating from Lithuania conduct business in all the EEA member states. They are licensed and authorized by the Bank of Lithuania (BoL). Overall, the Lithuanian EMIs enjoy a very high reputation for stability, safety and customer service, ranking near the top in terms of these ratings.
Right now, there is a lack of a common approach across the world of finance to the phenomenal growth of cryptocurrencies. As well, there are fundamental differences between other regions. One example is the US, which regulates cryptocurrencies under existing securities law.
The EU is moving quickly towards the regulation and supervision of digital financial institutions. Its ‘crypto regulation’ will be the first instance where a central body regulates this sphere. The EU, however, has created an entirely new framework to establish the cryptocurrency world with greater transparency, commonly agreed accounting methods, and taxation.
Lithuania crypto tax – Lithuanian companies that hold a Lithuania cryptocurrency/virtual currency licence can then offer their services for exchanging, circulating, transferring and holding digital currency and cryptocurrency. Customers throughout the EU can use these digital services for both fiat currency and cryptocurrency transactions.
Lithuania offers the third most attractive taxation regime amongst all OECD countries. In addition, it is possible to incorporate a cryptocurrency exchange in Lithuania that is owned as a subsidiary of an Estonian company. This will further optimise the corporate tax structure, reducing it to 15% corporate tax on profit and 15% withholding tax.
With the assistance of the expert team here at Apexum, it is possible to set up your Lithuanian crypto exchange in about 6-10 weeks.
Summary of the basic steps required:
| EUR | Incorporation of a company in Lithuania |
| 3,600 | Incorporation of a company in Lithuania Company formation (standard structure one director and one shareholder), opening an accumulative bank account, corporate documents, government fees. |
| 1,800 | Annual Maintenance fees *Providing legal registration address with correspondence reception services. |
| 4,200 | Registration of Crypto Services with the Manger of the Register of Legal Entities, notification of the FCIS. |
| 9,600 | Total Price |
| EUR | Account |
| 2,500 | Corporate account |
| 3,000 | Merchant account |
| 10,000 | Post authorization AML support
|
In addition, there is a standard fee of €250 payable to the authorities when registering the company.
Once these stages have been completed, the following steps are required:
Total for a complete package of services from Apexum is €.
| Details | Apexum charge |
| Preparing all the company documents required for company registration (either in Lithuanian alone, or in both English and Lithuanian). |
€ |
| Notarising the documents | € |
| Establishing the virtual business address for the 1st year | € |
| Opening a regular savings account in the corporate name with a European bank | € |
| Assistance in opening corporate banking accounts with a crypto-friendly bank/EMI | € |
