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Cyprus Company for BitCoin Exchange Service business?

holger

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Jul 27, 2016
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Hi,

I read lots of good about Cyprus company formation and that it's possible to stay anonymous. Now I was wondering if it is allowed to conduct BitCoin exchange business within a Cyprus company?

Do you know if a license is required or what will happen if you don't have a license (if required) and you just start the business anyhow?

Please suggest a valid solution and some information about my options.
 
I will have to check up on this, but I think as soon as you exchange BitCoin to real Money i.e. USD, EUR etc. it requires a license in order to operate such business. As long as you do it for 3rd parties.

You will get problems with the opening of a bank account if the business requires a license in Cyprus and you don't have it, other than that there will be no issues.
 
As mentioned you wont get any troubles when you ant to register your company in Cyprus for this business activity, however, to find a bank that will accept it is a kind different story. You will be required to hold a license if you accept payments directly from 3rd party to exchange into Bitcoins!
 

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