Inteliumlaw

Czech Republic crypto license

Inteliumlaw » Crypto licenses » Czech Republic crypto license

The Czech Republic doesn't impose stringent requirements for incorporating crypto-related companies. In fact, the process is relatively streamlined, with the incorporation and obtaining of a Czech crypto license typically taking between 1 to 3 weeks.

One of the distinctive features of setting up a company with cryptographic operations in the Czech Republic is the absence of specific incorporation requirements outlined in the legal framework. Unlike traditional financial institutions supervised by the Czech National Bank (CNB) authority, crypto companies don't adhere to a standardized licensing process for crypto license in Czech. Instead, they fall under the purview of the Financial Analytical Office (FAÚ), serving as obliged entities responsible for compliance with Czech anti-money laundering (AML) regulations.

As the primary regulator of the financial market, the CNB authority plays a crucial role in overseeing various aspects of the sector. Despite the dynamic nature of the crypto landscape, the CNB doesn't mandate Czech crypto licenses or registrations for activities such as the purchase, sale, or exchange of cryptocurrencies. Similarly, activities like mining or validating transactions operate without the need for specialized Czech Republic crypto license.

However, certain services, such as trading with exchange tokens or managing assets containing virtual assets, may require additional licenses, such as MiFID 2 or AIFM licenses. The regulatory stance on stablecoins remains somewhat ambiguous, with considerations of their classification under EU directives. While stablecoins linked to fiat currencies may necessitate e-money licenses, specific guidance or statement from the Czech National Bank is still pending.

At present, there are no known virtual asset service providers in the Czech Republic holding financial licenses beyond the general trade license which is considered as “crypto license” in Czech Republic. This underscores the evolving nature of regulatory frameworks and the need for ongoing vigilance within the cryptographic ecosystem.

In summary, establishing a crypto-related venture in the Czech Republic offers a favorable environment characterized by minimal bureaucratic hurdles. By understanding the regulatory landscape and adhering to compliance obligations, entrepreneurs can unlock the full potential of the burgeoning crypto market in the heart of Europe.

Benefits of choosing the Czech Republic to obtain a cryptocurrency license

Choosing the Czech Republic as the destination for obtaining a cryptocurrency license offers a myriad of benefits, positioning it as an attractive economic hub of Czech crypto license for crypto entrepreneurs worldwide. Let's consider the compelling advantages that make the Czech Republic crypto license stands out in the realm of cryptographic industry:

In addition to these inherent advantages, the Czech Republic's strategic location in the heart of Europe positions it as a gateway to a vast market and a hub for cross-border collaboration. Its robust infrastructure, skilled workforce, and supportive ecosystem further enhance its appeal as a preferred destination for crypto entrepreneurs.

By harnessing the benefits of choosing the Czech Republic for obtaining a Czech crypto license, entrepreneurs can embark on a journey of innovation, growth, and success in the dynamic world of cryptocurrencies.

InteliumLaw services for obtaining a Czech crypto license

At InteliumLaw, we understand the importance of comprehensive services tailored to your specific needs in navigating the regulatory landscape of the Czech Republic crypto license. Here's how our services align with your requirements, ensuring a smooth and hassle-free process from start to finish:

At InteliumLaw, we're dedicated to empowering crypto entrepreneurs with the knowledge, resources, and support they need to succeed in the Czech Republic's crypto license landscape. With our comprehensive range of services and unparalleled expertise in Czech crypto regulations, we're your trusted partner for obtaining a Czech crypto license. Contact us today to learn more about how we can help you unlock the full potential of your crypto venture in the Czech Republic

Types of crypto licenses in Czech Republic

In the Czech Republic, obtaining a crypto license opens doors to various opportunities tailored to the specific needs and objectives of your crypto venture. Below are the different types of crypto licenses available in the Czech Republic:

By understanding the nuances of each type of Czech Republic crypto license, entrepreneurs can strategically align their business objectives with the regulatory framework of the Czech Republic, unlocking opportunities for growth and innovation in the dynamic crypto market.

At InteliumLaw, we specialize in guiding businesses through the complexities of crypto licensing, ensuring compliance with regulatory requirements and maximizing the potential for success.

Czech Republic Crypto License Process

Securing a crypto license in the Czech Republic marks a significant milestone for entrepreneurs venturing into the dynamic world of cryptocurrency. At InteliumLaw, we recognize the gravity of this endeavor and stand ready to provide comprehensive guidance and support. Here's a structured approach to assist you in obtaining your Czech Republic crypto license:

At InteliumLaw, we recognize the individuality of each client’s journey and are committed to delivering personalized support and guidance. With our expertise and dedication, we empower you to navigate the complexities of the crypto licensing process with confidence and assurance.

Czech Republic Crypto License requirements

In the Czech Republic, obtaining a crypto license demands strict adherence to regulatory standards aimed at safeguarding financial integrity and preventing illicit activities like money laundering and terrorist financing. At InteliumLaw, we recognize the importance of compliance and offer tailored guidance to ensure your venture meets all necessary requirements. Here's an in-depth look at the key obligations for acquiring and maintaining a crypto license in the Czech Republic:

By systematically addressing these requirements, companies can enhance their chances of obtaining and maintaining a crypto license in the Czech Republic while ensuring compliance with regulatory standards.

Leave Us A Message

And we wil get back to you

What documents are required for the Crypto License application process?

In order to obtain a crypto license in the Czech Republic, certain documentation is required to demonstrate compliance with regulatory standards. Below is a comprehensive list of the documents necessary for the application process:

1. Initial Information about the Project:

2. KYC Documents:

For individuals:

For legal entities:

3. Clean Criminal Records:

Certificates or declarations confirming clean criminal records for directors, shareholders, and beneficial owners. These documents may include criminal record checks from relevant authorities or declarations affirming the absence of criminal convictions or pending charges.

4. Special Conditions for Terms and AML:

If client has any special requirements to T&C and AML, e.g. regarding Due Diligence process or KYC for the clients they need to be informed in advance.

Ensuring that all KYC documents are up to date, properly certified, and compliant with regulatory requirements is essential for a successful application process for Czech Republic crypto license. Additionally, seeking legal advice or consulting with experts familiar with the local regulatory framework can provide valuable guidance and support.

Legislation and regulations in the cryptocurrency industry in the Czech Republic

In the Czech Republic, the regulatory landscape surrounding cryptocurrencies remains largely uncharted. Cryptocurrencies, classified as commodities rather than currencies, do not fall under the purview of traditional monetary regulations. Consequently, they are not recognized as official means of payment and are exempt from laws governing payment systems. Despite this, cryptocurrencies are permitted for use in transactions, albeit without official endorsement.

The Czech Republic refrains from actively promoting or safeguarding cryptocurrencies, opting instead for a "light-touch, liberal approach" to regulation, as highlighted by the Vice-Governor of the Czech National Bank (CNB). While not actively restricting cryptocurrency development, the government warns investors of the inherent risks, likening cryptocurrency investment to gambling due to its speculative nature.

As a member of the EU, the Czech Republic adheres to EU directives on Anti-Money Laundering (AML). The implementation of the Fifth Money Laundering Directive (5MLD) in July 2018 introduced stricter AML regulations, necessitating regulation of cryptocurrency-related firms by the Czech government. Failure to register with authorities may result in significant fines.

The regulatory framework in the Czech Republic draws from both national and EU legislation. Key legislative components include:

In response to EU regulations, the Czech legal environment is adapting, particularly with the introduction of the Digital Finance Act. This legislation addresses aspects such as asset reserves, information obligations, and supervisory measures in line with EU directives.

Furthermore, developments in accounting and tax treatment of crypto-assets are anticipated with the implementation of regulatory frameworks like the Markets in Crypto-Assets Regulation (MiCA). As the crypto landscape evolves, accounting and tax considerations are expected to become more defined, shaping the future regulatory environment in the Czech Republic crypto license sphere.

Despite the absence of a comprehensive national regulatory framework, the Czech Republic hosts incubator programs for crypto projects and boasts a vibrant crypto community, reflecting ongoing interest and innovation in the industry.

Leave Us A Message

And we wil get back to you

Cryptocurrency tax in the Czech Republic

Cryptocurrency taxation in the Czech Republic is multifaceted, with regulations varying for individuals and businesses. For individuals engaging in cryptocurrency trading, profits are taxed at a rate of 15%. Similarly, sellers of goods and services receiving payments in cryptocurrencies are subject to income tax, following the same principles as transactions conducted in conventional currencies. This includes reporting income from cryptocurrency transactions and paying taxes accordingly, with the tax base calculated from the income generated from selling cryptocurrencies minus expenses.


On the other hand, cryptocurrency companies face a higher tax rate of 19%. These businesses, utilizing cryptocurrencies for their operations, must obtain licenses and pay taxes to the Social Fund and Health Fund. This category encompasses entities involved in cryptocurrency trading or whose business models are centered around cryptocurrencies, such as exchanges or mining operations. Notably, cryptocurrency mining operations are taxed at the same rate of 19% due to their utilization of cryptocurrencies for profit generation.

Despite uncertainties surrounding cryptocurrency taxation, the Czech government authority emphasizes the obligation of taxpayers to comply with tax laws and prevent evasion. To this end, authorities have implemented measures requiring banks, cryptocurrency exchanges, and financial service providers to identify customers. These initiatives aim to enhance transparency in cryptocurrency transactions and discourage taxpayers from exploiting the anonymity of cryptocurrencies for tax evasion.


Regarding Value Added Tax (VAT), cryptocurrency transactions are generally exempt from VAT in the Czech Republic. However, in cases where suppliers fail to pay VAT, tax authorities may recover taxes from purchasing companies. Consequently, buyers may be required to pay VAT if suppliers neglect their tax obligations. Nevertheless, buyers in cryptocurrency transactions are typically exempt from paying VAT, except in specific circumstances where VAT liability is transferred to them.


Overall, cryptocurrency taxation in the Czech Republic reflects efforts to regulate the industry, ensure compliance with tax laws, and prevent tax evasion. By adhering to regulatory requirements and fulfilling tax obligations, stakeholders contribute to a transparent and accountable cryptocurrency ecosystem in the country.

How long does it take to obtain a crypto license in the Czech Republic?

The process of acquiring a crypto license in the Czech Republic is structured, involving several distinct stages, each contributing to the overall timeline.

Company and Crypto License Registration: The registration process for the company and obtaining the crypto license typically spans 1 to 2 weeks. This period involves compiling all requisite paperwork and fulfilling regulatory criteria to establish the entity and acquire the license.

Development of AML Policies: Drafting Anti-Money Laundering (AML) policies is a pivotal phase, demanding approximately 1 to 2 weeks. During this stage, comprehensive rules and protocols are formulated to safeguard against and identify instances of money laundering within the organization.

Registration of MLRO at FAU: Registering a designated AML officer with the Financial Analysis Unit (FAU) is a critical compliance step, achievable within 1 to 5 days. Submission of requisite documentation to the FAU for approval is essential in this process.

While the aforementioned steps contribute to the core timeline of 3 to 4 weeks, it’s imperative to anticipate potential delays and proactively address them. Factors such as additional document verification, regulatory inquiries, or unforeseen administrative procedures may extend the overall duration.

For entities seeking consumer credit licenses, payment institution/EMI licenses, or other financial licenses under MiFID II or AIFM, a more extensive timeframe of approximately 6 to 18 months is anticipated. These licenses involve rigorous scrutiny and compliance assessments, necessitating a more protracted application process.

Cost of Cryptocurrency License in the Czech Republic

Obtaining of a crypto license in the Czech Republic involves a careful consideration of financial investments. Here's an overview:

Thorough financial planning and adherence to regulatory requirements are essential for success in acquiring a cryptocurrency license in the Czech Republic. By prudently allocating resources and maintaining fiscal discipline, prospective licensees can navigate this dynamic sector with confidence.

Leave Us A Message

And we wil get back to you

FAQ

How often does a Crypto License need to be renewed in Czech Republic?

There are no requirements to renew the crypto license in Czech Republic, it is issued for indefinite period.

Can non-residents of the Czech Republic own a cryptocurrency company?

Yes, non-residents of the Czech Republic can own and operate cryptocurrency companies in the country, subject to compliance with regulatory standards.

Is it necessary to have a bank account to obtain a license?

The bank account will be important for the operations, but it is not required for obtaining a crypto license in Czech Republic.

What is the required capital for operating a cryptocurrency company in Czech Republic?

Authorized capital for the incorporation of a company in Czech Republic and further crypto license obtaining is 1 (one) Czech Krona

What is the validity period of a crypto license issued in Czech Republic?

The crypto license in Czech is issued for indefinite period.

Which agency regulates crypto companies in the Czech Republic?

The Financial Analytical Unit (FAU) and Central Bank monitor and supervise crypto companies in Czech Republic.

Is personal presence required when starting a crypto company in the Czech Republic?

No, the process of Czech crypto license obtaining could be done remotely.

Other services

Incorporation of Companies Abroad

Business registration abroad

The main task of every entrepreneur is the development of his business. And the main condition for the realization of this goal has always been an increase in sales. A successful solution will be to increase profitability thanks to entering the foreign market. And for this, an entrepreneur must understand how to open his own company abroad so that it fully meets the requirements of the local legislation. Advantages of registering a company abroad Registering an enterprise in another country has many advantages. Many states care about attracting entrepreneurs from other countries. Therefore, the local government introduces special privileges and creates the most loyal conditions for the activities of foreign companies. The modern market dictates new conditions to entrepreneurs. One of the main trends in it is a very high level of competition. Therefore, company owners are often forced to enter foreign markets in order to be able to continue business development and increase profitability. Sometimes the choice of a foreign jurisdiction for conducting business may be determined by the specifics of the business itself and its regulation in the relevant state (for example, obtaining licenses). Among the main benefits for entrepreneurs, the following can be noted: selection of a jurisdiction with optimal conditions and legal basis for the company; an opportunity to attract more investors; increasing the number of buyers and clients; the ability to find markets with minimal competition; the opportunity to use benefits from the state; favorable taxation systems. When a business owner chooses a jurisdiction, it is important for him to consider all the nuances of the company’s activities. For some, the most important are the registration deadlines and the absence of bureaucratic complications. For others, the most important thing is a wide range of registration forms. Some businessmen are looking for opportunities to remotely manage and open virtual offices. For some, a loyal taxation system is a priority. Most often, favorable competitive conditions are offered in Asian countries. Incompletely developed markets make it possible to bring the company to a fairly high level of profitability in a short period of time. Also, in Asian countries, you can count on the provision of various grants and loans on preferential terms. Each Asian country offers different conditions. For example, in Malaysia, entrepreneurs will have the lowest costs for establishing and developing a business. In general, the costs of maintaining a company here are among the lowest. The markets of European countries are already fully developed. But businessmen in this region are most attracted by the stability of the country’s economy, protection by local legislation, as well as the jurisdiction’s reputation in the eyes of potential partners. How to quickly and easily open a company abroad? It is quite difficult to implement this task on your own. Help will be needed even at the initial stage – during the selection of a jurisdiction. After all, how efficiently your company will work in the future depends on this. Our company performs Incorporation of Companies Abroad on optimal terms. Professionals will analyze your company’s activities and select the state with the best conditions. At the same time, they necessarily take into account all the wishes of the customer and the peculiarities of local legislation. Our experienced lawyers know all the nuances of this procedure. Therefore, business owners do not have any problems with the preparation of documents or obtaining the necessary permits. By contacting our company, you will not only get a great opportunity to scale your business, increase profits and reduce costs, you will relieve yourself of troubles when performing these tasks. Our specialists will provide professional support and help you achieve the desired result. Leave Us A Message And we wil get back to you Contact Us Our cases Other services Leave a request for a service The accumulated experience and tracking of future changes in this area allow us to be proactivefor our clients and develop the most adapted business structures to modern conditions. By submitting this form, you hereby authorize Inteliumlaw to process your information for the purpose of addressing your inquiry. You retain the right to revoke this consent at any point. For further details, please review our Privacy Policy.

More »

Bank and merchant accounts opening

Inteliumlaw has a developed network of foreign banks and non-banking financial institutions, as well as payment aggregators around the world to offer our clients tailored Payment Solutions for Business. We help our clients with the selection of an institution for opening an account that meets their goals and wishes and fully support the account opening process, including bank compliance stage. We provide services for opening personal and corporate, current, savings and wealth management accounts, merchant accounts, accounts in crypto-processing, which allow our clients to accept payments in crypto-currencies. Corporate accounts well-functioning Corporate Bank Account is an important element for any type of businesses, regardless of jurisdiction or industry. Company exists only on paper if it does not have a bank account. It could not be a fully-functional market participant, conduct its activities, accept incoming and make outgoing payments, accumulate earned funds, and distribute profits. Even working with cryptocurrencies, in order to organize transparent activity of your business, increase economical substance, etc. your company will need a bank account, as well as solutions allowing processing of crypto-payments on your web-site and conversion of cryptocurrencies into fiat. Based on the analysis of your business, our firm will advise you on payment solutions the most suitable for your business needs and help you to Open Bank Account with a Foreign Bank. It could be a traditional account with a foreign bank and/or account with non-banking financial institutions (Electronic Money Institutions, Payment Institutions), integration with payment aggregator or crypto processing. Process of opening accounts in banking institutions is becoming an increasingly complex. Banks are ready to consider the most transparent businesses with a low-risk level, in particular traditional offline businesses. The nexus approach becomes more popular, as a result just limited number of banks accept foreign companies (not incorporated in/tied to the country of bank location). Given all the difficulties with opening accounts in traditional banking institutions, accounts in non-banking financial institutions (EMI or PI) are considered as solutions for online businesses – software companies, eCommerce, digital marketing, online gambling and others. At the same time, it should be noted that due to the tightening of global legislation in the field of combating the financing of terrorism and money laundering, passing the Know Your Client (KYC) procedure during the acceptance of clients has become more difficult not only in banks but also in non-banking financial institutions. To open an account, it will be important for the client to show the business plan for the project / business, justify the source of wealth for the business and beneficiaries, ideally, disclose the experience in the chosen business field, the planned first contracts with clients, and so on. Inteliumlaw will be happy to assist you with selection of a relevant payment solution for your business, support the process of account opening and make it to the extent possible smooth and easy. If you have any questions or require assistance, please contact our specialists. Personal bank account Opening personal accounts in reliable banking jurisdictions for the placement of distributed profit, saving and disposing of personal funds is a matter of particular importance that every business owner faces. The choice of a bank in this case can significantly affect the level of asset protection. Depending on the goals pursued by the client, it is possible to open two types of accounts: current account and savings account. It should be note that today only few banks are ready to consider foreign clients for the purpose of current accounts opening. In this regard, accounts in non-banking payment institutions (Electronic Money Institutions, Payment Institutions) are becoming increasingly popular, which, due to their functionality, can fully replace ordinary banks. Savings accounts It should be note that today only few banks are ready to consider foreign clients for the purpose of current accounts opening. In this regard, accounts in non-banking payment institutions (Electronic Money Institutions, Payment Institutions) are becoming increasingly popular, which, due to their functionality, can fully replace ordinary banks. Today, the process of personal account opening is no less complicated than the process of opening a corporate account. Banks carefully check the candidacy of potential clients within the KYC procedure. Among others, the key aspects of the research are the source of origin of clients’ funds, its history, reputation, etc. If you are interested in opening of a personal current or savings account, please contact our specialists, we will be happy to help you with your query. Leave Us A Message And we wil get back to you Contact Us Other services Leave a request for a service The accumulated experience and tracking of future changes in this area allow us to be proactivefor our clients and develop the most adapted business structures to modern conditions. By submitting this form, you hereby authorize Inteliumlaw to process your information for the purpose of addressing your inquiry. You retain the right to revoke this consent at any point. For further details, please review our Privacy Policy.

More »

Ongoing Legal Support

The activities of any company must comply with the current legislation. It is difficult to imagine all processes without legal business support. The specialists of Intellium Law know all the peculiarities of work and legal regulation of various areas of business and have extensive experience in legal support of IT, gambling, e-commerce, cryptocurrency business, production, trade, restaurant business, telecommunications business, investment business, real estate business and other areas. This allows our specialists to provide high-quality business legal support services to companies of any size and form of ownership. Legal support and business protection: what is it? Complex legal support of business involves a whole series of measures aimed at supporting business in compliance with the necessary regulations. It also allows you to prevent and reduce legal and tax risks, protect the capital and interests of the owners of the company/group. The procedure involves legal management of operational activities, verification of counterparties, agreements and documentation. By agreement, legal support may include participation in the company’s litigation, which, in most cases, is not included in the usual package. Many business owners prefer to have an in-house lawyer. But subscription legal business support from law firms offers more advantages. Here are the most famous of them: Cost reduction. Usually, the services of a third-party firm are cheaper than paying the salary of an in-house lawyer on an ongoing basis. Collective support. One specialist will not be able to perfectly understand all the nuances of each process. A team of professionals will cope with any tasks much better. Diligence. One lawyer cannot always cope with a high workload and keep track of all changes in legislation. Speed. The team will be able to cope with a much larger volume of work in a shorter period of time than one specialist. Quality. Usually, in law firms, any task goes through several levels of review from a junior to a senior specialist and final approval by partners. In what cases are business legal support services required? Running a business without subscription legal service and support is a very risky activity. After all, the company carries out activities with a constant risk of violating the current law and is legally unprotected. Therefore, it should be emphasized that legal support of small businesses, medium and large enterprises is a daily necessity. The service of legal support for business purchase and sale agreements and investment projects is also very popular. In this case, the buyer has confidence that the company’s activities comply with the current laws and the criteria stated by the seller, and that the investment asset is properly registered and will not create any legal/tax risks for the investor. Leave Us A Message And we wil get back to you Contact Us Other services Leave a request for a service The accumulated experience and tracking of future changes in this area allow us to be proactivefor our clients and develop the most adapted business structures to modern conditions. By submitting this form, you hereby authorize Inteliumlaw to process your information for the purpose of addressing your inquiry. You retain the right to revoke this consent at any point. For further details, please review our Privacy Policy.

More »

Leave a request for a service

The accumulated experience and tracking of future changes in this area allow us to be proactive
for our clients and develop the most adapted business structures to modern conditions.

By submitting this form, you hereby authorize Inteliumlaw to process your information for the purpose of addressing your inquiry. You retain the right to revoke this consent at any point. For further details, please review our Privacy Policy.

LEAVE A REQUEST FOR A SERVICE

The accumulated experience and tracking of future changes in this area allow us to be proactive
for our clients and develop the most adapted business structures to modern conditions.

By submitting this form, you hereby authorize Inteliumlaw to process your information for the purpose of addressing your inquiry. You retain the right to revoke this consent at any point. For further details, please review our Privacy Policy.