El Salvador adopted Bitcoin as legal tender in June 2021 and became the first country to officially recognize the digital currency at the national level. The government’s rapid development of the cryptocurrency sector is supported by tax incentives and exemptions for companies with a cryptocurrency license in El Salvador. Timeframe: within 3 – 4 months Minimum capital requirement:  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)

Overview

El Salvador adopted Bitcoin as legal tender in June 2021 and became the first country to officially recognize the digital currency at the national level. The government’s rapid development of the cryptocurrency sector is supported by tax incentives and exemptions for companies with a cryptocurrency license in El Salvador. They are exempt from fees, taxes, and duties on digital assets, including capital gains and ordinary income. However, any other taxes and government fees can be paid with cryptocurrency. In addition, the process of obtaining a crypto license in El Salvador is not too difficult, and the government supports investors by providing loyal business regulations.

 El Salvador Cryptocurrency Exchange License  is authorized to:

• ▪trade or exchange digital assets for clients
• ▪hold or manage digital assets on behalf of others

Main benefits

• ▪0% tax regime
• ▪Wide range of crypto-friendly local banks 
• ▪Low Amount of Share Capital 
• ▪No Requirement for Local Employees or Management