Cryptocurrency is regulated under the Albanian law, therefore those who want to invest in this industry need to obtain a crypto license in Albania. More so, it must be noted that Albania was one of the first countries in Europe to adopt a legislation for the cryptocurrency industry – our consultants can offer information on the legislation and the issuance of the license.
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What are the main types of licenses recognized in Albania?
The legislation provides for 5 different types of crypto licenses, mentioned below:
- digital token agent license;
- distributed ledgers technology exchange license;
- third party custodian wallet provider license;
- innovative service provider;
- automated collective investment undertaking license.
What institution is in charge with the issuance of the license?
The licenses can be issued by the Albanian Financial Supervisory Authority and by the National Agency for Information Society.
Are there any fees charged for the issuance of the license?
Yes, regardless of the type of crypto license you are interested in, you must know that you need to pay registration fees and licensing fees. These vary from EUR 1,000 to EUR 10,000.
Am I required to subscribe a minimum share capital for my crypto business?
Yes. The legislation stipulates that if you want toopen a company in Lithuania in the crypto industry you are required to subscribe a minimum share capital, which, in this case, varies from ALL 20 million to ALL 90 million (in EUR, this means approximately EUR 200,000 to EUR 900,000).
What is the validity of a crypto license?
The crypto legislation does not stipulate a maximum validity, which means that licenses issued here do not have an expiration date. However, in order to maintain the license you need to abide by the requirements imposed by law.Our consultantscan provide more information concerning this issue.
Do I need to pay taxes if I carry out crypto activities?
Yes. Cryptocurrencies are taxed at different rates, depending on the type of activity you carry out.
What are the main taxes charged on crypto activities?
Profits obtained from cryptocurrency activities are charged with a capital gains tax at a rate of 15%. Income obtained from mining is charged with 0% to 23%, depending on the value of the total earnings.
What company type should I incorporate if I want to set up a crypto company?
If you want to open a company in Albania in this industry you can register a limited liability company. It is the most suitable option regardless of the sector of interest.
Can you assist me in the registration process?
Yes, you can rely on our team of consultants, specialized in the process of company formation in Albania, for full legal representation in the incorporation process.
How much does it cost to benefit from your services?
For the registration of a limited liability company, we charge a standard fee of ALL 30,000. We recommend you get in touch with us for information on the types of services you will obtain from our consultants.
How long does it take to register a company in Albania?
It takes around 3 to 5 business days. To this, you must add other mandatory steps, such as the one referring to the issuance of the crypto license, which can increase the overall duration of these formalities.
Please contact our team of specialists in company registration in Albania for any other inquiries you may have concerning the issuance of a crypto license.