Estonia’s MTR (Money Transmitter and Virtual Currency Exchange) digital currency license is a license required for companies engaged in virtual currency services. The MTR license applies to cryptocurrency exchanges and e-wallet providers, among others.

In Estonia, all companies that meet the registration and operating standards must register with the MTR. The Estonian forex market must also be registered with the MTR and formally licensed. The EU has very strict regulatory requirements for the forex market, and forex brokers must meet high standards to operate. The Estonian Ministry of Economic Affairs and Communications monitors the forex market in accordance with the law to protect consumers and create a fair and healthy business environment.

Choosing to register a company in Estonia and obtain an MTR digital currency license may have the following advantages:

  1. Economic advantages: Estonia is an open free market economy. Its stable economic development provides a more promising environment for forex traders. After Estonia decided to fully adopt the euro, trust in the financial and securities markets was enhanced. Therefore, many international brokers choose Estonia as an offshore destination.

  2. Geographical Advantage: One of the main advantages of trading in Estonia is its geographical location and time zone, which makes it convenient to trade during the London and New York trading hours without having to stay up late waiting for the New York market to open.

  3. Policy advantages: lower tax rates and much lower labor costs than in Western European countries. Many domestic and international traders can be found in the Estonian foreign exchange market.

  4. Market advantages: The Forex market is very popular in Estonia and around the world. The stable economy attracts more and more Forex enthusiasts and investors. The small population is also one of the driving forces for some Estonian Forex brokers to expand their international business. Estonian Forex brokers have offices in Eastern Europe, Russia, Ukraine, Belarus and even wider regions, and enjoy an international reputation.

    We take care of the registration steps:

    Step 1: Company Registration

    • Provide contact person and legal address service for one year

    • Comply with national obligations

    • Translate the authorization letters and applications from shareholders/management board members and perform sworn translations

    • Notarization related materials

    • Provide us with your company name

    • Provide director information, including director resume, original copy of director's criminal record certificate and notarization

    We register your company on your behalf, so you don’t need to go to Estonia in person to apply for a license.

    Step 2: Submit your application to the FIU department

    • The company’s management board must be located in Estonia and the company must have a local anti-money laundering officer who serves as the company’s representative to the Financial Intelligence Unit

    • The board member and the anti-money laundering officer must be the same person, and shareholders can serve as company prosecutors or have the right to appoint prosecutors

    Step 3: Setting up a local office

    • Authorized capital of €12,000 and assistance with share capital registration

    • The company must have a corporate account within the European Economic Area to assist with the cost of opening an EMI account

    Step 4: Wait for approval and collect license documents, etc.