Are you on the lookout for a crypto-friendly jurisdiction that boasts transparent legal regulations, favorable tax laws, and guarantees investors’ protection? Consider opening a crypto license in Poland, which is praised for its safe and legal crypto investing environment and fast and straightforward registration process. In this brief guide to Polish crypto licensing, we’ll take a close look at why the country is rapidly transforming into a safe legal haven for various crypto businesses.
Polish Crypto Licences: Key Advantages
Polish crypto licenses are spiking in popularity for a reason: the country offers a secure and transparent alternative to many other nations that don’t provide a robust legal framework. Let’s dive deeper into what makes licensing so popular among crypto investors.
1. Scalability to the European Market
Obtaining a Polish license means that the firm can operate within the country’s market and in a much larger European market. Consequently, the owner of such a crypto license can sign agreements with international partners, reach new markets, and find potential clients.
2. Clear-Cut Taxation
With the cryptocurrency sector suffering from a lack of a unified framework, having transparent guidelines is a boon. After all, the only \way to avoid paying fees or costly penalties is by following the guidelines. It’s easier to do if you’re dealing with easy-to-follow cryptocurrency tax obligations and clear-cut taxation practices.
After registering your firm in Poland, you become part of the country’s list of taxpayers. Let’s take a look at the typical taxes that a firm registered in Poland will encounter along the way.
- VAT (Value Added Tax) — 23% (standard rate);
- Tax on corporate income — 19% (standard rate);
- Capital gains (including dividend and interest income) — 19%;
- CIT (Corporate Income Tax) — typically 19%.
3. Simple Registration Process
Unlike many other jurisdictions, Poland offers a relatively straightforward registration process. Another reason to register your company in Poland is that, whether exchanging virtual currencies, brokering, or keeping crypto asset accounts, you can obtain a single license for all these activities.
4. Relatively Fast Issuance
With the registration process completed, the next step includes license issuance (of course, if the firm provided all the necessary documentation and completed the requirements). This process typically takes up to two and a half months.
5. Guaranteed Security
A Polish license is a guarantee of security for cryptocurrency businesses and an indicator to potential clients and users that the firm has completed robust licensing requirements. Firms can operate within a stable jurisdiction without worrying about their assets or rights being infringed. This provides a reliable and secure environment to work in and grow a crypto business.
On the other hand, potential users can also be sure they’re dealing with a secure company, as Poland values user protection and privacy and applies two-factor authentication and other security protocols.
To wrap it up, there is a reason behind Poland’s economic boost and the ongoing attraction of foreign investments. As the country embraces a clear-cut legal framework, favorable tax laws, fast registration practices, and robust investor protection, more and more firms and individual players have started using the country as an appealing alternative for conducting crypto business.