The MTR (Money Transmitter and Virtual Currency Exchange) digital currency license in Estonia is a license required for companies engaged in virtual currency services. The MTR license applies to cryptocurrency exchanges and electronic wallet providers, among others.
In Estonia, all companies that meet registration and operational standards must be registered with MTR. The foreign exchange market in Estonia must also be registered with MTR and formally licensed. The European Union has strict regulatory requirements for the foreign exchange market, and forex brokers must meet high standards to operate. The Estonian Ministry of Economic Affairs and Communications monitors the foreign exchange market according to the law to protect consumers and create a fair and healthy business environment.
Choosing to establish a company in Estonia and obtain an MTR digital currency license may have the following advantages:
Economic advantages: Estonia is an open free-market economy. Its stable economic development provides a more promising environment for forex traders. The decision to fully adopt the euro in Estonia has enhanced trust in the financial and securities markets. Therefore, many international brokers choose Estonia as an offshore destination.
Geographical advantages: One of the main advantages of trading in Estonia is its geographical location and time zone, which makes trading during London and New York trading hours convenient without having to stay up late waiting for the New York market to open.
Policy advantages: Lower tax rates and much lower labor costs compared to Western European countries. Many domestic and international traders can be found in the forex market in Estonia.
Market advantages: The forex market is very popular in Estonia and globally. The stable economy attracts more and more forex enthusiasts and investors. The sparse population is also one of the driving forces for some Estonian forex brokers to expand their international business. Estonian forex brokers have offices in Eastern Europe, Russia, Ukraine, Belarus, and even wider regions, and enjoy international reputation.
We are responsible for the registration process:
Step 1: Company registration
Provide contact person and registered address services for one year
Comply with national obligations
Translate the authorization and application of shareholders/management board members and swear the translation
Notarize relevant documents
Provide the company name for our query
Provide director information, including director's resume, original director's criminal record certificate, and notarized certificate
We handle company registration, and you do not need to personally apply for a license in Estonia.
Step 2: Submit an application to the FIU department
The management board of the company must be located in Estonia, and the company must have a local anti-money laundering officer as the representative of the company in the Financial Intelligence Unit
The board members and the anti-money laundering officer must be the same person, and shareholders can serve as the company's prosecutor or have the authority to appoint a prosecutor
Step 3: Establish a local physical office
Authorized capital is 12,000 euros, and assistance is provided for capital registration
The company must have a company account within the European Economic Area, and assistance is provided for opening an EMI account
Step 4: Wait for approval and obtain license documents, etc.