Crypto License in Slovakia

No, a local director is not mandatory. The company’s founders and directors can be foreign nationals from any EU or EEA country. However, having a Slovak-based director can streamline banking procedures, ensure easier communication with regulatory authorities, and improve compliance with local corporate governance laws.

To apply for a Crypto License in Slovakia, you need to register a Slovak company, most commonly a private limited liability company (s.r.o.). This business structure offers:

• Limited liability protection for shareholders.
• Minimum share capital of €5,000 (not required to be fully paid upfront).
• Simple tax compliance and low corporate tax rates (21%).
• 100% foreign ownership allowed.

To legally operate a crypto business in Slovakia, you must meet the following requirements:

• Company Registration – A Slovak s.r.o. (LLC) must be formed with a physical or virtual office.
• AML/CFT Compliance – Your company must have a robust Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) framework in place.
• KYC & Customer Due Diligence (CDD) – Crypto service providers must implement Know Your Customer (KYC) procedures to verify client identities.
• Criminal Record Check – Founders and directors must provide a clean criminal record certificate.
• Proof of Professional Competence – You may need to show relevant experience or qualifications related to financial services or cryptocurrency operations.
• Regulated Trade License Registration – The company must register with the Trade Licensing Office under crypto-related economic activities.

In Slovakia, there are two main types of crypto-related licenses under the regulated trade framework:

1. Crypto Exchange License in Slovakia

   • Allows companies to operate a crypto-to-fiat exchange and crypto-to-crypto exchange.
   • Includes crypto ATM operations.
   • Requires strict AML compliance and transaction monitoring.

2. Crypto Wallet Provider License in Slovakia

   • Permits businesses to offer custodial wallet services (storing private keys for clients).
   • Enables crypto asset safekeeping and transfer services.
   • Requires a high level of cybersecurity and data protection measures.

Yes, a physical or virtual office address is mandatory for registering a crypto company in Slovakia. The office must be used for official government correspondence, but you are not required to have employees working there full-time.

Crypto taxation in Slovakia is regulated by the Ministry of Finance and follows EU taxation standards. Key taxation policies include:

• Corporate Income Tax (CIT): 21% on crypto-related profits.
• Value Added Tax (VAT): 20% (VAT is generally not applied to crypto-to-crypto transactions, but it applies to certain services).
• Withholding Tax: 0%–35%, depending on the type of payment and applicable double taxation treaties.
• Social Security & Health Contributions: 25.2% + 10%, paid by employers for employees.

Additionally, under MiCA regulations and future EU crypto taxation directives, more specific guidelines may be introduced.

Yes. The Markets in Crypto-Assets (MiCA) regulation, set to be fully implemented across the EU, will harmonize crypto regulations across member states, including Slovakia. Key impacts include:

• Stricter AML/KYC rules for all crypto businesses.
• Increased transparency and reporting obligations for crypto exchanges.
• Clear legal definitions for crypto-assets (utility tokens, stablecoins, security tokens).
• Consumer protection and cybersecurity requirements for crypto service providers.

Businesses that comply early with MiCA will have an easier time scaling within the EU market.

The most frequent reasons for rejection include:

• Incomplete or incorrect documentation (e.g., missing notarized translations).
• Failure to meet AML compliance standards.
• Directors or shareholders with criminal records related to economic crimes.
• Lack of proof of professional competence in crypto-related financial services.
• Failure to establish a local registered office in Slovakia.

Ensuring compliance with Slovak and EU financial regulations is key to successful approval.

Yes. Foreign entrepreneurs and companies can apply for a Crypto License in Slovakia, but they must register a local business entity (e.g., s.r.o.) and meet Slovak regulatory requirements. EU and EEA residents have an easier time meeting compliance criteria, but non-EU nationals may need additional legal documentation.

Yes, purchasing an existing crypto-licensed company is possible, but due diligence is crucial. You should verify:

• The company’s regulatory standing.
• Compliance history and tax obligations.
• Legal contracts and liabilities.
• AML policy implementation.

Many businesses buying a crypto license in Slovakia choose to consult legal experts to avoid potential regulatory issues.

Yes. A Crypto License in Slovakia allows companies to legally provide services within the European Economic Area (EEA). However, international operations must comply with local regulations in each jurisdiction.

For broader operations, companies often obtain additional licenses in crypto-friendly jurisdictions such as Estonia, Lithuania, or Switzerland.

Yes. A Crypto License in Slovakia allows companies to provide crypto exchange and wallet services, but does not permit traditional banking activities. A crypto banking license would require a separate authorization, typically under electronic money (e-money) regulations governed by the National Bank of Slovakia (NBS).