The European Union must face the biggest economic crisis in its history – warns the European Commission in its latest spring economic forecasts. In her view, the decline in GDP in the EU in 2020 will reach a record 7.4 percent, and in the euro area alone 7.7 percent. During the apogee of the financial crisis in 2009, the eurozone’s economy shrank by 4.5 percent.Continue Reading..
After registering the company with the Commercial Register and with the VAT authorities we can choose between two types of cryptocurrency licenses which can be obtained by cryptocurrency companies in Estonia.
The first type is the cryptocurrency exchange service provider license. It allows the companies to provide exchange services to those who want to trade cryptocurrencies against money or against other cryptocurrencies.
The second license – the cryptocurrency wallet service provider is suitable for companies which would like to offer e-wallets or virtual token wallets.
The entrepreneurs who would like to obtain such licenses need to wait for about 14-30 days after the application, for the response of the Financial Intelligence Unit in Estonia. Until the license is granted, the company is not allowed to start the activity. After receiving the license the company is obliged to start the activity within 6 months.
Some activities related to cryptocurrencies, for example popular digital token mining may be conducted without the license as long as the company does not trade them.
If you would like to start business in Estonia, please contact our specialized team. You will receive all the answers to your bothering questions and we will clarify all ambiguities regarding this topic.
The easiest way to start a new business is definitely to buy a ready made company. A clean, shelf company allows you to start your business activity as soon as possible. It is very important to choose the most suitable country according to the type of business.
Estonia is one of the European Union countries in which cryptocurrency trade is strictly regulated, therefore setting up such company there is a very wise move nowadays.
In 2014, a document called Taxation of Trade in Bitcoins was published by the government of Estonia and in its content we can find that the bitcoin in Estonia is recognized as an alternative means of payment by legal status.
Buying a ready made company with licenses for crypto exchange and wallet allows to bypass the waiting period and procedures necessary to apply for such a license. It is a great advantage because the investor is able to start the business activity immediately after completing all the formalities related to the purchase of the company.
It is highly recommended to buy such a company from a reliable source. Only a proffesional business consulting company is able to offer a shelf company with a guarantee that hasn’t undertaken any activity in the past, has no hidden debts or commercial disputes.
In addition, such consulting company provides a whole range of additional services that may be useful in the future in conducting business operations.
Lexpoland Business Consulting using its many years of experience and international business contacts is able to offer professional, comprehensive assistance at every stage of business. It is much easier to form and run a company with a proven and experienced partner alongside who will help you avoid mistakes and make it easier for you to succeed.
If you are interested in this topic, would like to know more details and buy such company, do not hesitate to contact us via the contact form.
You will receive answers to all the questions concerning the case and the best possible offer tailored to your needs.
Odds of most popular cryptocurrencies resemble stairs from August 28. In half an hour on Wednesday evening bitcoin became cheaper by $ 600. The next two smaller stairs appeared in the next 12 hours.
Over the past 24 hours, the most important cryptocurrencies have seen a major discount. The bitcoin exchange rate fell by 9% during this time, and for one BTC on August 29 at 10 it was necessary to pay around 36.4 thousand PLN.
Similar trends can be observed for the other most popular cryptoactivities. Everywhere on the charts is clearly visible the quick sell-off, which took place around 8pm on Wednesday, 28 August. Ethereum got cheaper by more than 12 percent during the day, bitcoin cash by 10 percent, and litecoin by 12 percent. Slightly less lost XRP token used in the Ripple system – 8%.
On January 1, 2020, subsequent amendments to VAT will enter into force. This time they are caused by changes in European law. They concern the so-called intra-Community transactions.
The taxation system for these transactions, which has been in force since 1993, is temporary and is difficult to use for businesses at all times, prone to scams and fraud.
For now, the EU is proposing four ad hoc solutions:
– harmonization of provisions on the storage of goods (consignment warehouses),
– simplification of chain transactions, the intermediary arranging the transport will be able to decide which of the transactions is intra-Community,
– changes in the meaning of summary information provided to tax authorities, – simplification in the required documentation of intra-Community transactions.
– simplification in the required documentation of intra-Community transactions.
Blockchain technology is used to store and send information about transactions concluded on the internet. These transactions are arranged in consecutive blocks of data. Each block contains information about a specific number of transactions.
After filling it with transaction information, another data block is created, followed by the next and next block. This creates a kind of chain (hence the name: blockchain is a block chain). A new block appears on average every 10 minutes. It may contain information about various transactions, e.g. commercial transactions, ownership status, shares, shares, electricity generation and the purchase or sale of currencies, including cryptocurrencies – electronic currencies.
The essence of blockchain is to maintain a joint and collective transaction accounting book, in digital form, scattered throughout the network, in the same copies. This book is a collection of all transactions carried out at the moment in blockchain. This technology is based on peer-to-peer networks without central computers, transaction management and verification systems. Any computer on the network can participate in transaction transmission and authentication. In the case of blockchain, these will be blocks within the transaction book. The book is open to everyone, but fully secured by complicated cryptographic tools against unauthorized access.
Thanks to this entry, transactions are public, available to everyone, but visible only under the user’s access rights. Their entire history, from the beginning of blockchain existence to today, can be reviewed and verified.
Currently, blockchain can be used to handle various transactions, but work is underway to use the block chain as an accounting book in banking, a document authentication system, a digital signature in state administration and a notary record. All these transactions can take place outside the system that has been functioning for centuries – without the participation of public trust institutions, directly between the parties to the transaction. You can store any type of transaction in blockchain data blocks. One of the applications is the cryptocurrencies mentioned for example Bitcoin.