The Many Ways to Start a Cryptocurrency Company in EuropeNov 9, 2022, 7:38PM
There are many ways to start your own cryptocurrency business in Europe. Depending on where you live and what you do, there are various options.
Even if you don’t plan to set up an online presence or sell your virtual products and services, it’s still worth exploring how to start your own businesses in Europe. Here’s how to start a crypto company in Europe.
Choosing a Country to Incorporate In
When you start a business in Europe, you first need to decide where you will base yourself and incorporate. You can base your cryptocurrency business in any country, and how you choose to structure it all depends on what you want from your business. If you want to be able to trade in other countries, then you’ll need to work with a business based in one of the Financial Action Task Force (FATF) compliant countries. This means that the country is compliant with rules to prevent the funding of terrorism. The FATF-compliant countries are Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and Switzerland.
Choosing Your License Type for Your Crypto Company
Depending on what kind of cryptocurrency business you want to set up, you might need a license, or you might not. The license you need depends on what you want to do, who you want to do it for, and who you want to do it for. If you want to set up an advisory company, you might not need a license, but if you’re offering investment services, you’ll need one. Let’s start with the licenses you don’t need. If you just want to do consulting, then you don’t need a license. You can also set up a research or trading company without a license. If you’re setting up a platform for exchanging goods or services and it’s only for internal business use, then you don’t need a license either.
Finding the Right Office Space and Hiring Employees
Not all crypto companies will require office space, but if you do, you’ll need to find it. If you’re looking in major cities, like London, Paris, Berlin, and others, it can get very expensive. Fortunately, there are a few ways to find cheaper office space. Co-working spaces are popping up all over the world. While these can be a great option, they can also be competitive. Another option is to find a private investor who will help you to set up office space as a loan with a specific schedule of repayment. In addition to this, you’ll need to find employees to work in your office. In most cases, you can hire remote workers, but you may also want to hire a few full-time employees.
Starting a cryptocurrency company can be a really exciting adventure, one that can give you many new opportunities and experiences. You can set up your company anywhere in Europe, so there are plenty of options available to you. You can either set up a new business from scratch or you can buy an existing business that’s already making money. Whichever way you choose, it’s worth exploring how to start your own cryptocurrency companies in Europe.
Eesti Firma is a team of experienced advisers and experts in commercial law and accounting.
Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.