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Basic requirements of Poland crypto license
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It will be possible to obtain a crypto license in Poland after fulfilling certain conditions:
Providing a certificate of non-prosecution. Evidence of experience or relevant qualifications in the financial industry. The Ministry of Justice of Poland can provide a certificate of the case. With regard to relevant experience and industry expertise, it is necessary to have at least one year of experience with virtual currencies. A license to exchange cryptocurrencies is required by individuals who are registered as sole proprietors, as well as registration is required for managing directors of companies.
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Advantages of Poland crypto license
TAX POLICY
All organizations in Poland, including those with a crypto-license, are required to report annually to the National Court Registry (KRS, Krajowy Rejestr Sądowy). A system of fines is applied for the absence of reporting, and the founders and the head of the company are responsible for it. In addition, monthly or quarterly prepayments of income tax are also paid. Legal entity income tax (CIT) is 9%, or 19%. The main VAT rate is 23%. Dividend tax is 19%.
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How is the crypto business licensed in Poland?
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The regulatory landscape of cryptocurrency and blockchain is developing quite actively in Poland.
In accordance with the new regular regime, in order to obtain a license to exchange cryptocurrencies in Poland,
it is necessary to open a company in Poland with a «physical» office. Recruit local staff and directors with experience in the financial industry.
Open a bank account and deposit 100% of the authorised capital at the registration. Create a detailed business plan for 5 years,
software documentation, which will be used to carry out exchange operations. Develop AML/KYC policies, procedures for monitoring and minimizing risks.