Before registering a crypto business in England, you should familiarize yourself with the types of licenses for it in this country and learn as much as possible about the procedure for obtaining them. 

Advantages of the company for crypto activities in England

In the UK, the functioning of cryptocurrencies is at an early stage, but is actively supported by the government. 

The advantage of cryptocurrencies in the UK – their anonymity. There is also interest in virtual currencies, when tokens based on Blockchain technology are issued in exchange for cryptocurrencies. 

The European cryptocurrency market has a clear regulatory framework, so we can recommend opening a company for crypto activities in the UK. But in any case, you will need the support of a lawyer so that no questions arise for you. 

It is necessary for the state regulator to provide complete information about the company, as required by law. 

Using Due Diligence procedures, risks are identified and measures are taken to eliminate the identified risks. Such activities are aimed at combating money laundering. All these nuances can only be known by specialists who know the peculiarities of the cryptocurrency market in the UK. 

Stages of licensing a company for crypto activities in the UK

You must go through a special procedure:

  • registration of a legal entity in this country (with a real office);
  • opening a bank account;
  • collection of documents for the license. 

Taxation of cryptocurrencies in England

It has its own characteristics. Not all types of cryptocurrency-related businesses are taxed equally:

  • Cryptocurrency mining is partially or fully exempt from value added tax.
  • Gains or losses realized by buying or selling virtual currencies are treated in the same way as profits realized by selling other currencies.
  • Cryptocurrency should not be subject to capital gains tax if used by an individual. 

Company registration must be approved by the Financial Conduct Authority (FCA). We will do everything possible to ensure that your business receives such approval:

  • we will assess the risk of money laundering;
  • create an AML/KYC policy;
  • We will train your employees to thoroughly check partners and clients. 

We have lawyers with many years of experience with digital assets in the UK. We will be happy to help you. 

If you want to conduct business using cryptocurrencies and blockchain technology, Сonalz specialists will advise you on all issues that arise. We will also assist in opening an office in the UK, provide the necessary administrative assistance and secretarial services. All this will significantly simplify your work. Your personal presence in the UK will not be required.

Contact if necessary:

  • hire a resident director;
  • get help from specialists in accounting and tax accounting;
  • assist in opening a corporate bank account that is loyal to companies working with cryptocurrencies. 
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