Crypto brokerage license in EU – TOP 5 countries in the EU with the lowest costs for launching a crypto project (2024)

In the current economy, especially in the realm of digital assets, initial costs can significantly impact the success of a startup. When launching a startup in the crypto sector, initial costs play a crucial role. Now when the company is not yet generating profit and the project is at the launch stage, surviving solely on the founders’ or investors’ funds, the cost and timing of the launch are key factors. In this article, prepared by the legal firm Regulated United Europe, we will examine five European Union countries that offer the lowest costs and most favorable conditions for launching crypto projects.

5. Estonia

Estonia has long been recognized as one of the most progressive EU countries in terms of cryptocurrency regulation, with the government actively supporting fintech innovations and offering a relatively simple procedure for registering crypto companies. Additionally, Estonia boasts one of the most developed digital infrastructures, making it attractive for crypto startups. Moreover, Estonia was the first EU country where startups began actively obtaining cryptocurrency licenses (more than 2,500 cryptocurrency licenses were issued between 2017 and 2020). However, since 2020, the requirements for licensed companies have been significantly tightened (including a capital requirement of 250,000 euros, requirements for company structure, and reporting). As of 2024, Estonia is no longer the best country for starting a crypto business.

4. Poland

Poland offers favourable tax conditions for crypto projects, including simplified procedures for startups and financial incentives for investors. Poland is also known for its skilled IT workforce and relatively low costs of living and business operations – as of 2024, more than 1,000 companies/individuals hold such a license. However, it should be noted that compared to the other countries considered, Poland has the least favourable conditions for foreigners – we would recommend opening a crypto company in Poland only if you and your team plan to be physically located in Poland. Additionally, a high level of bureaucracy is a significant drawback.

3. Bulgaria

Bulgaria attracts crypto startups with some of the lowest corporate tax rates in the EU — only 10%. This creates favourable conditions for new companies seeking to minimize initial expenses. Bulgaria also offers advantageous conditions for foreign investments in the cryptocurrency industry – as of 2024, more than 200 companies have such a license. However, a notable disadvantage is the requirement to have a local/Bulgarian board member in the company structure and the relatively low trust in Bulgaria from investors/clients compared to other considered countries.

2. Lithuania

In recent years, Lithuania has been actively developing its crypto economy and offers simplified procedures for registering crypto startups. Lithuania not only supports blockchain projects but also offers various government initiatives to support innovation, making it one of the leading countries for attracting crypto investments – as of 2024, more than 500 companies have received a crypto license in Lithuania. Over the past two years (2022 - 2024), Lithuania has been the most popular country for opening crypto companies with foreign owners, with clear, transparent requirements for license applicants and a list of all licensed companies available online.

1. Czech Republic

The Czech Republic ranks first thanks to its liberal approach to cryptocurrencies and blockchain. The country not only offers competitive tax rates but also has one of the strongest support programs for tech startups in Europe. Additionally, the Czech Republic has an active community of developers and numerous tech hubs, which promotes the rapid development of crypto projects. As of 2024, the Czech Republic is the most popular jurisdiction for launching crypto projects and, according to the latest information, will provide owners of cryptocurrency companies registered before December 31, 2024, with a two-year transition period to adapt to MiCA. This, along with moderate legal costs and quick project implementation times, makes the Czech Republic the most promising country for launching a crypto project in 2024.

The listed countries represent ideal platforms for launching and developing crypto projects in the European Union due to their financial and regulatory advantages. The choice of country for starting a crypto project should be based not only on the economic indicators of the country but also on the level of state support and the willingness of regulatory bodies to accommodate international entrepreneurs.