Blockchain businesses usually take the form of a private limited company (OÜ). A private limited company requires a minimum share capital of 2500 EUR, which might be paid in as a non-monetary contribution. Non-monetary contribution are objects that can have a monetary valuation.
The current understanding of non-monetary contributions opens the possibility to contribute with cryptocurrencies or tokens in the value equivalent to 2500 EUR for the share capital.
The founders may decide to make the contribution for the share capital upon the foundation of the private limited company or at a later date.
Note that if the company will apply for a virtual currency service license, the share capital needs to be paid-in as a monetary contribution in the amount of 12 000 EUR.
Estonian address and contact person:
Any Estonian company needs an address and if the board members reside outside Estonia, also a registered contact person. These services are usually provided by specially licensed companies in Estonia. We can introduce you to some of our partners.Note that if the company will apply for a virtual currency service license, the registered office, the location of the management board and the actual place of business need to be located in Estonia. There is no need for a contact person service in such a case.
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