Get profit from the sale of my crypto license

buwaytress

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Quote from: coinstore777 on April 14, 2020, 01:10:29 PM

But if you are not EU citizen and do not want to travel to Estonia, then you can buy nomenee services from one of companies that have such services. It's possible.

But this is what I was referring to from my last post that you answered above. If you are a foreign UBO (ultimate beneficial owner) then you HAVE to travel to meet the FIU face-to-face now. Having an Estonian nominee won't work anymore as I recall as it doesn't change the UBO (you're still the owner no matter what, ultimately, and it is on your behalf the nominee makes transactions for). This was what I thought was the key change to the rules around the Estonian e-license. Unless there's a way to also make the nominee a UBO, in which case you no longer are the true or majority owner?

examplens

legendary

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Crypto Swap Exchange

Quote from: coinstore777 on April 14, 2020, 01:10:29 PM

But if you are not EU citizen and do not want to travel to Estonia, then you can buy nomenee services from one of companies that have such services. It's possible.

Just to be clear. New share capital minimum is applicable only to crypto companies which is related to financial service like casino, exchanges, payments gateway etc... everyone else is not in that batch, for example, development services or freelancers which accept crypto as payments?

as far as I remember I was not required to travel to Estonia to take e-resident documents, it is possible for some other centre in Europe. (Budapest the closest to me) or this has changed too?

Quote from: Harlot on April 14, 2020, 04:16:58 PM

I'm pretty sure that before someone gets interested with the company they must know what the company is about and also their current financial situation, because as or right now it only looks like you are offloading one of your failed company. Can you be more specific about the nature of business of your company with regards to the crypto industry? And since financial statements are public documents can you upload your financials as well? This could really help a lot of members determining if your company has really any value for them. Legally speaking I don't think the process of turning over a company can be done online so I am definitely sure that at least three parties need to meet with each other physically may it be himself or with a proxy.

It is very possible that OP wants to sell this company because of the new Estonian law and rising minimum share capital from $2500 to $12500. This is a solid chance to make some profit, maybe even more than starting his own business where they need to invest much more. But whatever, you have a right, they need to share all company documents to new potential buyers.

Harlot

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I'm pretty sure that before someone gets interested with the company they must know what the company is about and also their current financial situation, because as or right now it only looks like you are offloading one of your failed company. Can you be more specific about the nature of business of your company with regards to the crypto industry? And since financial statements are public documents can you upload your financials as well? This could really help a lot of members determining if your company has really any value for them. Legally speaking I don't think the process of turning over a company can be done online so I am definitely sure that at least three parties need to meet with each other physically may it be himself or with a proxy.

coinstore777

newbie

Activity: 7

Merit: 1

Licensed to provide virtual currency wallet services
Licensed to provide fiat to virtual currency exchange services

If you don't have the e-residency, then you can apply online and obtain it as I did. I am the EU citizen.

But if you are not EU citizen and do not want to travel to Estonia, then you can buy nomenee services from one of companies that have such services. It's possible.

BITCOINET.NET

copper member

Activity: 14

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Buy and sell Bitcoin >> Rate : 3%

The licence fees are $3200 because estonia does not provide two licences anymore . If you are from shengen zone , its easy to get the licence but if you are not from shengen , you will need to travel to estonia to meet FIU, with the new regulation all exchanges should have a share capital minimum $12000.
That means if you buy a company now , you need to know if the owner paid the share capital minimum $12000 .

The main requirements for obtaining the crypto license are:

Share capital minimum of 12 000€;
Physical presence in Estonia including office and management board members who reside in Estonia;
Non-criminal records extract for all participants in the company from all countries of citizenship;
CVs (resumes) and education info for all participants in the company;
For company opened bank account/fintech bank account in an EEA country.
https://e-resident.me/cryptocurrency-license-requirements-in-estonia-2020-updates/

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legendary

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Crypto Swap Exchange

OP, when you say "your crypto license". Which license exactly you have and who's issues such licenses? I never heard about crypto licenses.

Quote from: coinstore777 on April 13, 2020, 06:27:07 AM

Quote from: buwaytress on April 11, 2020, 01:15:38 AM

Haven't some of the requirements for this Estonian licence changed already a few months back? Especially regarding the Ultimate Beneficiary Owner (UBO)? I know the Estonian resident nominee route was part of the old regime back then but in 2019 I understood they made it mandatory for foreign UBO applicants (whoever buys this from you now would be that) to have to visit in person for renewal of the licence.

UBO should be Estonian it's correct. As I said I can help you to find someone who will be a nomenee director for you.

Regarding licence renewal - you shouldn't be worry about this. The licence is termless at this moment.

What, there is no more e-resident possibility? as far as I can remember it has cost 100eur, with an expiration date up to 5 years.

coinstore777

newbie

Activity: 7

Merit: 1

Quote from: buwaytress on April 11, 2020, 01:15:38 AM

Haven't some of the requirements for this Estonian licence changed already a few months back? Especially regarding the Ultimate Beneficiary Owner (UBO)? I know the Estonian resident nominee route was part of the old regime back then but in 2019 I understood they made it mandatory for foreign UBO applicants (whoever buys this from you now would be that) to have to visit in person for renewal of the licence.

UBO should be Estonian it's correct. As I said I can help you to find someone who will be a nomenee director for you.

Regarding licence renewal - you shouldn't be worry about this. The licence is termless at this moment.

buwaytress

legendary

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Join the world-leading crypto sportsbook NOW!

Haven't some of the requirements for this Estonian licence changed already a few months back? Especially regarding the Ultimate Beneficiary Owner (UBO)? I know the Estonian resident nominee route was part of the old regime back then but in 2019 I understood they made it mandatory for foreign UBO applicants (whoever buys this from you now would be that) to have to visit in person for renewal of the licence.

coinstore777

newbie

Activity: 7

Merit: 1

Quote from: AdolfinWolf on April 10, 2020, 09:22:35 AM

Quote from: coinstore777 on April 10, 2020, 07:25:55 AM

Sorry, I didn't get your question. But I will try to reply.

The company comply all current policies and will comply if you buy it according to the policies. The company is not "worthless", it allows you to offer the following:

Licensed to provide virtual currency wallet services
Licensed to provide fiat to virtual currency exchange services

If you want to start business within crypto exchange, then it might be interesting for you. Look at the successful examples: https://www.luno.com/

I basically meant if the company would come with a (lease?) to an estonian office + a board of directors located in estonia, as would be required by the new regulations put in place. Or if that was something that the buyer would need to figure out himself. Although, - I guess that'd be fair too, as i would assume that you'd need to pay your nominee / B of D / office on a yearly basis anyway.

Yes, you are correct. You have to pay for the office and nomenee service as well. It's a part of the business, as you would need to pay for advertisement and staff in order to run a good project.

AdolfinWolf

legendary

Activity: 1946

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Quote from: coinstore777 on April 10, 2020, 07:25:55 AM

Sorry, I didn't get your question. But I will try to reply.

The company comply all current policies and will comply if you buy it according to the policies. The company is not "worthless", it allows you to offer the following:

Licensed to provide virtual currency wallet services
Licensed to provide fiat to virtual currency exchange services

If you want to start business within crypto exchange, then it might be interesting for you. Look at the successful examples: https://www.luno.com/

I basically meant if the company would come with a (lease?) to an estonian office + a board of directors located in estonia, as would be required by the new regulations put in place. Or if that was something that the buyer would need to figure out himself. Although, - I guess that'd be fair too, as i would assume that you'd need to pay your nominee / B of D / office on a yearly basis anyway.

coinstore777

newbie

Activity: 7

Merit: 1

Quote from: AdolfinWolf on April 10, 2020, 07:10:12 AM

Quote from: coinstore777 on April 09, 2020, 03:30:45 PM

Quote from: AdolfinWolf on April 09, 2020, 12:58:48 PM

Not sure if i would be interested in buying your company right now, but i'd be interested in understanding how it works?

So i buy your company from you ( I become 100% shareholder ?), and i assume you no longer would want to be the director of the company (or did you use a nominee, if so, how does that work?)

Also, don't you need to have a board of directors located inside Estonia to be eligible for a cryptolicense, (and an adress?)

Are all these things included?

Company may be granted the authorization only if its registered seat, the seat of the management board as well as place of business is in Estonia or, in case of a foreign company operating in Estonia, if its branch is registered in the commercial register and its place of business and the seat of the head is in Estonia. Therefore you should reside or be contracted (partnered) with someone who is presenting in Estonia.

If you don't reside in Estonia nor have a such partner in Estonia then I can find for you someone for sure. Also you can buy such nominee services in any Estonian law company.

So does your company fullfill these new regulations? Huh

Otherwise, you'll lose your license in 2021?
(And that will render the value of the company as an "asset" of itself virtually worthless, no?)

But if you don't fulfill these regulations, what exactly are you selling right now? The company plus another service which will create a B of D & nominee/address?

Sorry, I didn't get your question. But I will try to reply.

The company comply all current policies and will comply if you buy it according to the policies. The company is not "worthless", it allows you to offer the following:

Licensed to provide virtual currency wallet services
Licensed to provide fiat to virtual currency exchange services

If you want to start business within crypto exchange, then it might be interesting for you. Look at the successful examples: https://www.luno.com/

coinstore777

newbie

Activity: 7

Merit: 1

Quote from: allindiansuckmycock on April 09, 2020, 05:22:40 PM

How much? Is it cheap?

Even the company pass kraken verification , New owner will have to re-submit again all docs

The kraken verification has been passed for the business (for the company). I don't think you have to make a verification twice for the same business, if the director has been changed.

The cost for licences is 6600 EUR. Of course, I want on top more than 6600 EUR, because the company has it's website, bank account and etc. If you interested send me PM and we can discuss it further.

Thanks!

AdolfinWolf

legendary

Activity: 1946

Merit: 1427

Quote from: coinstore777 on April 09, 2020, 03:30:45 PM

Quote from: AdolfinWolf on April 09, 2020, 12:58:48 PM

Not sure if i would be interested in buying your company right now, but i'd be interested in understanding how it works?

So i buy your company from you ( I become 100% shareholder ?), and i assume you no longer would want to be the director of the company (or did you use a nominee, if so, how does that work?)

Also, don't you need to have a board of directors located inside Estonia to be eligible for a cryptolicense, (and an adress?)

Are all these things included?

Company may be granted the authorization only if its registered seat, the seat of the management board as well as place of business is in Estonia or, in case of a foreign company operating in Estonia, if its branch is registered in the commercial register and its place of business and the seat of the head is in Estonia. Therefore you should reside or be contracted (partnered) with someone who is presenting in Estonia.

If you don't reside in Estonia nor have a such partner in Estonia then I can find for you someone for sure. Also you can buy such nominee services in any Estonian law company.

So does your company fullfill these new regulations? Huh

Otherwise, you'll (or the person you will sell it to) lose your license in 2021?
(And that will render the value of the company as an "asset" of itself virtually worthless, no?)

But if you don't fulfill these regulations, what exactly are you selling right now? The company plus another service which will create a B of D & nominee/address?

allindiansuckmycock

newbie

Activity: 25

Merit: 0

How much? Is it cheap?

Even the company pass kraken verification , New owner will have to re-submit again all docs

coinstore777

newbie

Activity: 7

Merit: 1

Quote from: AdolfinWolf on April 09, 2020, 12:58:48 PM

Not sure if i would be interested in buying your company right now, but i'd be interested in understanding how it works?

So i buy your company from you ( I become 100% shareholder ?), and i assume you no longer would want to be the director of the company (or did you use a nominee, if so, how does that work?)

Also, don't you need to have a board of directors located inside Estonia to be eligible for a cryptolicense, (and an adress?)

Are all these things included?

Company may be granted the authorization only if its registered seat, the seat of the management board as well as place of business is in Estonia or, in case of a foreign company operating in Estonia, if its branch is registered in the commercial register and its place of business and the seat of the head is in Estonia. Therefore you should reside or be contracted (partnered) with someone who is presenting in Estonia.

If you don't reside in Estonia nor have a such partner in Estonia then I can find for you someone for sure. Also you can buy such nominee services in any Estonian law company.

AdolfinWolf

legendary

Activity: 1946

Merit: 1427

Not sure if i would be interested in buying your company right now, but i'd be interested in understanding how it works?

So i buy your company from you ( I become 100% shareholder ?), and i assume you no longer would want to be the director of the company (or did you use a nominee, if so, how does that work?)

Also, don't you need to have a board of directors located inside Estonia to be eligible for a cryptolicense, (and an adress?)

Are all these things included?

coinstore777

newbie

Activity: 7

Merit: 1

Good afternoon all,

I am looking for someone who wants to purchase a company with cryptolicenses and it's website.

More details about the offer:
1. The company has standard Estonian crypto licenses;
2. The company has passed business verification at Kraken.com;
3. The company has a business account at PaySera.com;
4. The company has a website on yii2 language;
5. The company has no turnover in the past;
6. AML sum & sub, blockchain, kraken, SMS verification integrated into the website;
7. Design and texts on the site are easy to change through the backend.

Please PM me if you want to know more.

Thanks!

Topic: Get profit from the sale of my crypto license (Read 282 times)