A CRYPTO LICENSE IN POLAND
In Poland, a cryptocurrency license is a document that authorizes entities to conduct regulated cryptocurrency business under the laws of the proposed jurisdiction.
In other words, obtaining a cryptocurrency license allows one to operate cryptocurrency-related businesses in Poland as a cryptocurrency exchange operator or a cryptocurrency custodian wallet operator.
Poland has currently introduced economic activity regulation in the cryptocurrency sector, primarily including the registration and restriction of companies conducting cryptocurrency trading activities, addressing the legalization of income through anti-money laundering measures to prevent virtual currencies from being used for criminal activities and to protect cryptocurrency consumers.
Currently, the reasons why Poland's cryptocurrency license is attracting market attention include:
Poland has a population of nearly 40 million, making it a relatively large and extensive market among European countries.
Poland has signed bilateral agreements with 84 countries worldwide to avoid double taxation, making Poland one of the most tax-favorable jurisdictions.
Foreign capital establishing institutions in Poland can have 100% ownership, with no local or EU equity requirements.
No mandatory requirement to employ local Polish staff, allowing for more flexible business operations.
No minimum capital requirement
Services Provided by Registering a Cryptocurrency License in Poland
Providing services to exchange virtual currency for fiat currency (in the form of a cryptocurrency exchange or trading platform)
Providing services to exchange cryptocurrency for other cryptocurrencies
Providing and maintaining cryptocurrency account/wallet services
Providing cryptocurrency exchange services (brokerage services)
The advantage of applying for a cryptocurrency license in Poland is that companies do not need to go through a cumbersome and complex regulatory review process, but only need to register with the relevant national business registry.
This registry will be maintained and controlled by the Polish Ministry of Finance. Engaging in activities in the virtual currency sector without registration can result in a fine of up to 100,000 PLN.
Steps to Apply for Authorization of Cryptocurrency Business Activities
1. Register a Polish company
Prepare registration documents;
Pay government fees related to the registration of a legal entity;
Prepare to submit initial declarations and beneficiary registration to the tax office;
Rent statutory address and mailbox services (for at least 1 year).
2. Obtain a Polish Tax Number (PESEL)
The tax number requires an electronic application submission through the ePUAP government service platform.
The process for remotely receiving a PESEL is as follows:
Provide a certified copy of the director's passport (Chinese residents need to provide Hague certification) and translate it into Polish.
Courier sends the document confirming receipt of the PESEL tax number to the client.
The terms for receiving the PESEL are up to 30 days from the date the client provides the original documents + translation.
Note: If you visit Poland in person, the application speed for the PESEL tax number will be greatly accelerated, requiring only one working day.
3. Register the company in the cryptocurrency organization registry
Prepare documents to include the company in the cryptocurrency sector organization registry;
An EU-certified electronic signature is used for cryptocurrency registration
Pay the national fees associated with this;
Anti-money laundering policy translated into Polish.
The deadline for entering the Polish cryptocurrency into the registry is 14 days from the date the company director signs the declaration via ePUAP.
About Oushin
Oushin Overseas Asset Allocation Consulting Company is an international consulting company established in Europe, primarily assisting clients in countries such as the UK, Ireland, Portugal, Lithuania, Malta, etc., with services including overseas fund establishment, overseas financial license application, overseas company establishment, overseas bank account opening, overseas real estate investment, and second identity planning.
Currently, the company can assist clients in applying for financial licenses, mainly including: forex broker licenses, electronic banking licenses, payment licenses, virtual currency trading licenses, and ICO issuance virtual currency licenses.
