Cryptocurrencies are often used in Eastern European countries, with Ukraine and Russia leading the way, followed by Belarus, Poland, Romania, Bulgaria, Hungary and the Czech Republic. This has prompted the governments of many Eastern European countries to make regulations regarding cryptocurrencies.
Poland is an attractive jurisdiction for starting a virtual currency business. After Estonia and Lithuania, at the end of 2021, Poland introduced state regulations in the field of cryptocurrencies. The government is trying to stop money laundering and the use of currency for criminal purposes. The government also wants to protect consumers who use cryptocurrencies.
What are the requirements for obtaining a Crypto license in Poland?
- The company needs registration in the appropriate state commercial register
- The regulatory body is the Ministry of Finance of Poland
- Some taxes must be paid: CIT (Corporate Incom Tax), VAT, PIT (Personal Income Tax), Dividend tax, income repatriation tax
- Background check and no criminal record
- Competence and reputation.
What is the process of obtaining a Crypto license in Poland?
To obtain a license, there are several steps to follow:
- Registering a company in Poland with a physical office presence
- Opening a bank account and contributing a share capital – at the time of registration they pay 100%
- Hiring staff members and directors who have experience and education
- Preparing a detailed business plan for several years in advance, documentation on hardware and software used for exchange operations
- AML / LYC policies, internal registers, control regulations.
How to obtain a Cryptocurrency License in Poland?
You will need a Polish tax number to submit an electronic application through the ePUAP government services platform. To activate ePUAP you must come to the Polish Consulate. Also, you need to obtain a Polish tax number PESEL.
Registered Companies in Poland can be done online, regulated by the Ministry of Justice ( Ministerstwo Sprawiedliwości) of Poland. When registering a company, it is necessary to correctly determine the codes of activities according to the classifier – PKD (Polska Klasyfikacja Działalności). For different organizational and legal forms of business, requirements are imposed on the minimum authorized capital and management structure.
Within seven working days from the date of registration, it is necessary to submit information on the ultimate beneficiaries to a special register. The completed NIP-8 form should be sent to the tax office at the place of registration,
Time-frame for obtaining a license is within 8-12 weeks.
Empire Global has a team of experienced professionals who will assist you through the entire process of Crypto License in Poland application including assistance in the preparation of documents, submission of application, and responding to any queries from the Office. We request you to get in touch with Empire Global at the earliest to understand the entire process in detail and apply for a Crypto license in Poland.