Home2025-02-12T23:56:44+00:00
Get a Crypto License in El Salvador

If you’re considering El Salvador as a base for your crypto activities, you’ll need to take several steps: register a company, create a detailed business plan and AML/KYC policies, apply for a crypto license, and ensure compliance with local regulations. We can make the process easy for you!

Looking for help? Get in touch with us

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Cryptocurrency Exchange
License in El Salvador

El Salvador adopted Bitcoin as legal tender in June 2021 and became the first country to officially recognize the digital currency at the national level.

The government’s rapid development of the cryptocurrency sector is supported by tax incentives and exemptions for companies with a cryptocurrency license in El Salvador. They are exempt from fees, taxes, and duties on digital assets, including capital gains and ordinary income.

However, any other taxes and government fees can be paid with cryptocurrency. In addition, the process of obtaining a crypto license in El Salvador is not too difficult, and the government supports investors by providing loyal business regulations.

Tax Advantages of Licensing in El Salvador

El Salvador has positioned itself as an innovative and forward-thinking commercial jurisdiction, offering opportunities for economic growth and foreign investment. While the cost of business registration may not be the lowest, the country provides unique advantages, particularly for companies involved in cryptocurrency-related activities.

Notably, El Salvador is the first nation to officially recognize Bitcoin as legal tender. This groundbreaking decision has opened new avenues for businesses in the cryptocurrency and blockchain sectors, fostering innovation and technological advancement.

If you are exploring cryptocurrency regulations or planning to establish a business in El Salvador, our team of experts is here to assist you. We offer detailed guidance and comprehensive solutions to ensure the successful registration of your cryptocurrency company in El Salvador. Contact us today to take the first step toward leveraging these opportunities.

Process and timeline for obtaining
a Crypto license in El Salvador

Evaluation of Suitable Banks and EMIs:

Analyze and identify the most appropriate banks or electronic money institutions (EMIs) based on the client’s needs and risk profile. Compare the risk appetite of potential banks with the client’s risk tolerance, ensuring alignment with pre-established Anti-Money Laundering (AML) policies.

Document Collection and Verification:

Assist in gathering all necessary documents from the client to initiate the account opening process. This includes details such as fund flow records, source of wealth verification, account purpose description, key partners’ information, company website, utility bills, and other required documentation.

Comprehensive Guidance Through the Process:

Provide end-to-end support to the client’s company throughout the entire account opening process, ensuring compliance, transparency, and efficiency at every stage.

Stage 1

COLLECTION OF PRELIMINARY DOCUMENTS
Documents required:
  • Preferred company name

  • Passport copies of all shareholders (at least 2) and directors (notarized + apostilled)

  • Address of residence confirmation (utility bill) from all directors and shareholders

  • Power of attorney (notarized + apostilled)

  • A business model of the company (brief description 1-2 pages)

2 weeks

Stage 2

REGISTRATION AND LICENSING PROCESS
Documents required:
  • Company registration

  • Preparation of the corporate documents

  • Address of residence confirmation (utility bill) from all directors and shareholders

  • Submission of license application to The National

2.5 – 5 months

Stage 3

CORPORATE ACCOUNT OPENING
*Done simultaneously with Stage 2

Documents required:
  • Analysis of the most suitable Banks/EMIs, comparison of the risk appetite of the Bank in relation to the risk appetite of the Client based on previously prepared AML policies

  • Collection of necessary documents from the Client side to initiate the process (flow of funds, source of wealth, description of the purpose of opening an account, key partners, company website, utility bill, etc.)

  • Guiding the Client’s company through the entire process of opening an account.

4-6 weeks
Frequently Asked Questions
What is a crypto license in El Salvador?2025-01-16T22:47:46+00:00

A crypto license in El Salvador is an official authorization issued by the Central Reserve Bank (BCR) for companies engaging in cryptocurrency-related activities. This license ensures businesses operate legally and comply with anti-money laundering (AML) regulations, while safeguarding customer data.

How to Obtain a Crypto License in El Salvador2025-01-16T22:49:41+00:00

1. Requirements

– A minimum of two partners.
– A passport of the legal representative.
– Notarized or legalized documents through a Salvadoran consulate.
– While not mandatory, appointing a local director and agent can simplify the application process.

2. Application Process

– Submit the required documents and application to the Central Reserve Bank (BCR).
– Ensure compliance with AML and security regulations.

Processing Time for a Crypto License2025-01-16T22:50:23+00:00

The licensing process takes up to 20 business days if the application is complete. In cases of missing information, the applicant has 5 business days to provide the required details.

Costs of a Crypto License in El Salvador2025-01-16T22:51:02+00:00

– Initial Registration Fee: $5,475
– Annual Renewal Fee: $3,650
– Certification Fee: $50 or the equivalent in Bitcoin

Why Did El Salvador Make Bitcoin a Legal Tender?2025-01-16T22:52:00+00:00

El Salvador adopted Bitcoin as legal tender due to the country’s reliance on the U.S. dollar for all financial transactions. This move facilitates easier remittances for citizens and businesses, particularly those working abroad. By officially recognizing Bitcoin, El Salvador aims to stimulate economic growth and unlock new opportunities for innovation and investment.

Get Started with your
El Salvador Crypto License

Looking for help? Get in touch with us

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