Ways to Obtain a VASP License in Poland

The best proof that Poland is a crypto-friendly country is the number of crypto companies registered in its jurisdiction. Poland has become a kind of crypto hub that attracts new crypto projects and companies willing to provide financial services in this industry. However, to legitimately engage in crypto business in this country, you will need a VASP license Poland.

Knowledge of laws and compliance with all procedures are prerequisites for obtaining a license or crypto authorization. You can achieve this goal either independently or with the help of a professional company like Fintech Harbor Consulting LTD. They will do all the work to help you successfully complete this procedure. Alternatively, you can buy an existing company with a VASP license. Each of these approaches has its own pros, and you should consider them to make the right decision.

Obtaining a VASP License vs. Buying a Company with a License

When looking for the right way to enter the Polish and EU crypto markets, you will come across offers to buy a company with an already obtained VASP license. Providers of such services promise an instant launch of a crypto business and the absence of any previous business activity. Certainly, you can consider this option, but remember that there are a lot of scammers on the market. It is quite possible that the company you are going to buy was operating for some time and compromised itself, or its owners want to avoid paying taxes, etc.

Therefore, it’s better to obtain a license for a newly opened company. With the help of legal advisory companies such as Fintech Harbor Consulting LTD, the process will not take much time. Besides, you will be sure that in the future, you will not face any unpleasant surprises and avoid responsibility for the activities of the company’s previous leaders.

Stages of Obtaining a VASP License

Regardless of whether you act independently or with the help of a legal support consulting company, the procedure for obtaining a license will include the following stages:

1. Registering a domestic legal entity in the format of Sp. z o.o. (Spó?ka z ograniczon? odpowiedzialno?ci?). This is a limited liability company, which is the most convenient form for doing business in Poland.
2. Opening a local business office without the need for its physical presence.
3. Opening a corporate bank account. You should not necessarily choose a Polish bank; other EU banks are also acceptable.
4. Submitting information about the company to all Polish registers for the purpose of its registration.
5. Preparing a full package of necessary documents.
6. Submitting an application for authorization to the Polish Tax Service.
7. Paying all state fees associated with obtaining a VASP license.

Then, you should wait until the regulator reviews your application and all accompanying documents and confirms Polish crypto authorization.

Although this path may seem long, professional attorneys from Fintech Harbor Consulting LTD will help you overcome the challenges easily. Their experience and knowledge of all the procedure’s nuances will ensure a smooth authorization process, which does not always happen if you act independently.