Requirements to obtain a Crypto
license in El Salvador

What You’ll Need for
Registering Your Crypto License

Under the Salvadoran Digital Assets Law, known as the “Ley de Emisión de Activos Digitales,” cryptocurrency companies operating in El Salvador are required to meet specific regulatory standards and compliance measures.

These regulations establish a framework designed to promote transparency, protect investors, and ensure the lawful use of digital assets. The law outlines clear guidelines for the issuance, trading, and management of digital assets, requiring companies to adhere to best practices in areas such as anti-money laundering (AML), know-your-customer (KYC) protocols, and financial reporting.

By implementing these requirements, El Salvador aims to create a secure and trustworthy environment for cryptocurrency operations while fostering innovation within its growing digital economy.

Once a company with domicile in El Salvador is incorporated, the main requirements for license application are the following:

• Minimum of two shareholders, who can be natural persons or legal entities, which must have a Tax Identification Number in El Salvador

• 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)

• Share capital of 2000 USD (the Law allows the granting of the respective Deed by paying only 5% of the minimum capital stock with the amount of 100 USD)

• Demonstrate the ability to offer digital asset services

• Provide a list of the digital assets you plan to sell or trade

• Provide a detail of the company’s organizational structure, such as, but not limited to, name, positions and specific functions

• Demonstrate that it has a coherent and efficient customer service system, corresponding to the nature of the service to be provided

• Companies must have systems in place to prevent, detect and disclose risks of financial crime, including money laundering and terrorist financing, as part of AML/KYC compliance.

• Each year, an annual fee must be paid for the renewal of such registration during the first half of each year

• Technological platform and IT systems

• AML Officer (not obligatory to be a local)

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

Get Started with your
El Salvador Crypto License

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