Today, Poland is a modern European economic powerhouse, eager to develop in all areas of life, including the opportunity to implement cryptocurrency projects for individuals and legal entities around the world.
With our assistance, you can easily conduct cryptocurrency activities within the EU under stable Polish law.
Cryptocurrency licenses show customers and investors that your business is legitimate and trustworthy.
Protect your business
A license ensures you meet legal standards and protects your business from fines or going out of business.
Entering new markets
With licenses, you can do business in more markets and build better partnerships.
What are the benefits of contacting us?
Expert guidance on complex regulation
Our team has an extensive knowledge of Polish cryptocurrency regulations, which allows us to accurately grasp the licensing process and ensure that your business seamlessly meets all legal requirements.
Direct, practical support
We offer cordial and friendly assistance at every stage, working closely with you to provide customized services that meet the unique needs and objectives of your company in Poland.
Full-service support from start to finish
From document preparation to liaison with regulatory agencies, we manage every step of the application process and keep you informed, greatly reducing your administrative workload.
Local expertise with a global perspective
With a thorough understanding of Polish regulations and the requirements of the global crypto market, as a direct service provider, we will help your business succeed in Poland while preparing for international operations.
Proactively update legal and procedural change information
Our team keeps an eye on the development of crypto legislation. If regulatory requirements change, we will notify you promptly and provide effective solutions to ensure your company is fully compliant.
Polish Cryptocurrency License
Before starting a business, everyone needs to understand what specific activities the company is entitled. The company will be able to conduct business in the following areas (simultaneously):
exchange virtual currency into legal tender;
the conversion of legal tender into virtual currency;
exchange virtual currency into another virtual currency;
store virtual currency on behalf of customers;
Transfer virtual currency between wallets;
Host an ICO with utility tokens on your platform.
Therefore, with this cryptocurrency authorization, your company falls within the general concept of a virtual asset service provider (VASP) that can serve customers in the European Economic Area and globally.
Example 1: You notice the market demand for cryptocurrency exchange services (BTC to Euro, USD to ETH, etc.) and/or cryptocurrency custodian wallet opening services. With your knowledge and experience, you decide to set up or buy a cryptocurrency company in Poland. This way you can provide these services to your customers, assuring them of your expertise.
Example 2: You have a strong interest in using your personal funds to trade (peer-to-peer, etc.) on cryptocurrency exchanges (OKX, Binance, Uniswap, OpenPeer, etc.). However, there are limitations when operating in an individual capacity, or it is not possible to open a professional account. By registering or acquiring a cryptocurrency licensing company in Poland, you can expand your capabilities and acquire a legal framework for operating in the sector.
If the other activities you plan to carry out do not match the above examples, or you still have questions, you can contact our experts at any time. They will carefully study your request and provide personalized recommendations.
Requirements to obtain a cryptocurrency license in Poland
Today, before starting an activity, a specific set of requirements must be met. However, Poland is a crypto-friendly country and you only need to do the following:
Registration of a limited liability company in Poland (z.o.o.);
Inclusion of the company as a VASP in commercial registration;
The company's regulator will be the Generalny Inspektor Informacji Finansowej (Inspector General for Financial Information).
In Poland, the main law regulating commercial activities related to virtual currencies is the Polish Anti-Money Laundering and Combating the Financing of Terrorism Act of March 1, 2018 (published in the Polish Law Journal, items 1132, 1163 and 1535, 2021-consolidated text).
The relevant sections of the Polish Anti-Money Laundering (AML) Act relating to the management of the registration of cryptocurrency businesses in Poland are described in Articles 129m to 129z.
Why Poland?
As a progressive country, Poland has many advantages over other European countries, which can play an important role in decision-making. Just to name a few
Fully remote registration or purchase of a company;
Signing of digital documents by electronic signature;
No contribution to the share capital (only 5,000 PLN for registration);
Does not require physical presence in Poland;
Moderate supervision by regulators.
We will provide you with full assistance to meet all specified requirements so that your company can start operating and become profitable as soon as possible.
Get a cryptocurrency license in Poland
Company Registration and Licensing
€3 000About 5 weeks.
Company formation procedures;
Register as a VASP/CASP holder;
Obtain a qualified electronic signature;
Internal AML/KYC policy;
Legal address for 1 year;
State and other expenses.
Buy a ready-made company
€5 000About 3 weeks
Procurement by VASP/CASP;
Obtain a qualified electronic signature;
Internal AML/KYC policy;
Legal address for 1 year;
national and other costs;
Certificate of Good Reputation.
Initial steps
The steps for setting up a company and obtaining a cryptocurrency license are as follows:
Collect KYC
To start the process, we first collect all the necessary Know Your Customer (KYC) information. This step includes the collection of identity and compliance documents to ensure that all materials meet Poland's strict compliance requirements. This includes copies of identity documents, proof of address and other relevant documents required by the Polish authorities.
Qualified e-Signature via Video Verification
Once the KYC is completed, we proceed to obtain qualified electronic signatures for our clients to access government registers and services in Poland, including the eKRS (National Court Register). In Poland, electronic signatures must be verified through a video authentication program, which verifies identity quickly and securely. This step ensures that customers can legally sign official documents online, speeding up the company registration process without having to be physically present.
Preparation of company registration documents
After the electronic signature is completed, we will proceed to prepare all the necessary registration documents. This includes the drafting of articles of association, memoranda and other documents required for registration (in Polish and English). Each document is tailor-made to comply with the legal standards set by the Polish regulator and to provide support for the future operation of the VASP.
Sign documents by electronic signature
After the electronic signature is completed, we will proceed to prepare all the necessary registration documents. This includes the drafting of articles of association, memoranda and other documents required for registration (in Polish and English). Each document is tailor-made to comply with the legal standards set by the Polish regulator and to provide support for the future operation of the VASP.
Sign documents by electronic signature
Once ready, the company registration document will be sent to the customer for review and signature. Using a qualified electronic signature issued by a supplier certified by NCCert (National Certification Center), customers can securely sign each document online, enabling a seamless and efficient document finalization process.
Submitting company registration documents in the S24 system
After the signing procedure, the completed documents will be submitted electronically through Poland's S24 system, a digital platform for company registration. The system streamlines the submission and tracking process, allowing us to monitor registration progress in real time.
Complete File Submission
The process begins with obtaining the KYC (or criminal record, if applicable) records of any potential managing director. In addition, for registration purposes, directors are required to issue a statement confirming their relevant experience in cryptocurrencies. We will prepare the application and sign it using the electronic signature in the PRS (Court Electronic System).
We are waiting for the approval of the VASP application, which usually takes about two weeks:
Only after completing all the steps and registering in the commercial registry, the company can become a legal entity and start operations.
Once incorporated, the new company must maintain accurate bookkeeping and comply with tax and business registration requirements from the outset.
Finally
A compliance officer or designated responsible person must be appointed to submit quarterly reports to the GIIF (General Inspection of Financial Information), the body that oversees the company's operations and compliance checks. This person does not have to be local.
As you can see, there is no need for you to be present in person at any stage, which makes Poland truly a unique jurisdiction. We are happy to help you meet all necessary requirements and guide you through every step to make the whole process as convenient as possible.
MiCA Regulations in Poland
The General Regulation within the European Economic Area (EEA) is scheduled to come into force on 1 January 2024. However, Poland's laws have not been updated to reflect these changes, leading to some ambiguity in the relevant procedures. Our team has compiled the key points outlined in the draft legislation for your reference:
Local presence
At least one director (board member) of a VASP company must be a resident of an EU country (may not be in Poland, but remain an EU country).
Professional experience and knowledge
Company directors must have relevant experience and knowledge in the cryptocurrency field or related fields such as finance, law, anti-money laundering regulations or others.
Increase in share capital
Depending on the type of activity selected, the required share capital amounts to between € 50,000 and € 150,000.
Regulator
Supervision will be carried out by the Financial Supervisory Authority (Komisja Nadzoru Finansowego) and the National Bank of Poland.
Supplementary Documents
Additional documentation is also required, including a business plan of at least two years, technical documentation of information and communications technology systems and security arrangements, a detailed description of custody and management policies and other relevant materials.
Application fee
The application fee will be increased to € 4,500, but this increase will not apply to current virtual asset service provider (VASP) holders.
Frequently Asked Questions (FAQ)
Can a foreigner become an owner or director of a Polish cryptocurrency company?
Yes, an individual of any nationality can become an owner or director of a Polish cryptocurrency company. However, it is important to note that there may be exceptions for citizens of sanctioned countries, which may impose legal restrictions on ownership and directorship.
How should the documents for registering or purchasing a company be certified?
The certification requirements for the documents required to register or acquire a company depend on various specific factors in the registration or acquisition process. In general, some documents may only require your signature, while others may require notarization, notation, or authentication. Our experts can provide detailed guidance on your situation to ensure compliance with all legal requirements.
Is the owner of the company obliged to contribute the authorized capital in cash or other property?
The registered amount of the company's shares varies, but the general requirement is 5000 Polish zloty (PLN) and no capital contribution is mandatory.
What is the corporate tax rate in Poland?
Poland's standard corporate tax rate is 19%. However, a preferential tax rate of 9 per cent is applicable to companies with a turnover of up to € 2,000,000.
How long is the validity period of the Polish cryptocurrency license?
Cryptocurrency authorization is indefinite.
What laws and regulations are in place in Poland to regulate cryptocurrencies?
In Poland, the main legal framework governing commercial operations involving virtual currencies is the Polish Act of March 1, 2018, which focuses primarily on anti-money laundering and counter-terrorist financing. The bill can be found in the Polish Law Journal in 2021, consolidated under items 1132, 1163 and 1535. Articles 129m to 129z of the Polish Anti-Money Laundering Law have specific sections on the management of the registration of cryptocurrency enterprises in Poland.
Is the list of cryptocurrency companies in Poland public?
The Polish Cryptocurrency Register can be downloaded as a PDF file on the official government page. It is regularly updated by the Polish body responsible for maintaining the Register.
Are cryptocurrency companies obliged to register as VAT taxpayers?
Cryptocurrency activities in Poland are exempt from value-added tax (VAT).
Can I open a traditional bank account for a cryptocurrency company?
Unfortunately, traditional banks often consider cryptocurrency activities to be risky and are reluctant to open accounts for such companies. However, we can provide you with direct contact information for a cryptocurrency-friendly e-bank or EMI (Electronic Money Agency).
What type of corporate maintenance is required?
Company maintenance includes updating the legal address (virtual office) and submitting the annual report. We will assist you with both of these requirements.
Need some help?
Connect with our licensing experts to discuss a solution tailored to your business. We will provide you with a personalized offer within 1 hour of the working day.
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