Poland is a sizable nation in Eastern Europe with great potential for expanding its IT sector at the present time. It is easy to get a crypto license in Poland if your business deals with cryptocurrency. Once you have the mandatory crypto license in Poland, you will be able to not only grow your market, but also actively develop.
Important Features of Poland’s Cryptocurrency Licensing Scheme
Poland is making the initial moves toward developing a legislative framework capable of regulating the cryptocurrency business. Thus, very straightforward procedures for obtaining a crypto license in Poland have been established. As long as a crypto corporation has a valid license to operate in Europe, it may do business in Poland without fear of prosecution.
Obtaining a work permit in Poland requires the applicant to complete the following procedures:
- Company formation;
- PESEL acquisition;
- license application.
Each phase has unique characteristics that deserve explanation.
Establishing a Firm in Poland
A business must be registered before it can apply for a license. Gather the necessary paperwork and submit it electronically from anywhere in the globe.
Two electronic signatures must be generated. There are costs associated with forming a legal body that must be paid to the state. Additionally, the initial tax return to the tax office and the register of beneficiaries should be prepared without delay.
You must also rent a mailbox for the duration of the year.
After receiving your legal entity registration application, the state government has a few days to decide. This has little room for mistakes.
Incorporating a PESEL
In Poland, a PESEL is a personal tax number that is required of all legal entities and individuals. Access is available remotely. Apostille certification of a certified copy of the director’s passport (if the document is insured by a foreign notary rather than a Polish consulate) is required.
Up to 30 days are needed for the PESEL procedure. The paperwork may be sent to you if you are located in another nation. The next step is to make contact with the Polish consulate to get it processed.
Participation in a central database of cryptocurrency-related groups
Polish documents, payment, and preparation are needed for AML at this stage. The bitcoin company registration period ends in 14 days. If you need extra time to collect papers, you may request two weeks later.
Essentials First
Cryptocurrency businesses in Poland are not subject to any substantial regulations. The lack of a criminal history among the owner and stockholders and the existence of competence and reputation are the only two factors often considered by regulators.
Therefore, you have the appropriate set of knowledge and abilities if you have previous expertise in both the crypto business and corporate management. Getting your hands on a crypto license won’t be an issue at all. If you have a criminal record, things will not be easy for you either.
Having a well-thought-out business plan that details the primary goals of your firm, the products or services it will provide, the sources from which it will get finance, etc., is highly recommended.
How can getting a license be made easier?
Consulting with Fintech Harbor Consulting experts is the quickest and most dependable approach to get your hands on a Forex trader license. Their attorneys are well-versed in the idiosyncrasies of Polish government bureaucracy and understand the details that must be attended to while drafting relevant paperwork.
Their professionals are responsible for the following tasks:
- Complete assistance in acquiring a license; Verification that your business conforms to all regulations.
- Help to fill out forms; ensuring accuracy in forms, and more.
- After working together, you may give our expert a power of attorney. They’ll act as your advocate before regulatory bodies, submit paperwork on your behalf, and more.
Their experts put the client first at all times and work to tailor the conditions of the partnership to your needs. You are free to express your hopes and objectives for the relationship.
Conclusion
Getting any kind of license is a hassle, and getting a crypto license in Poland is no exception. Therefore, it is highly recommended that this be handled by experts. Having competent personnel handle the licensing procedure will free you to concentrate on other, more pressing things.