
Slovenia encourages
cryptocurrency companies in multiples ways, as for example through the organization of conferences related to this topic. These events offer the framework in which the regulations and the priorities in this domain can be discussed by the most innovative and active
enterprises in cryptocurrency. If you are interested to
open a cryptocurrency company in this country you could discuss the registration aspects with one of
our consultants in company formation in Slovenia.
Slovenia’s cryptocurrency legal framework
Cryptocurrencies refer to
virtual currencies such as
bitcoin or litecoin. More and more
companies in Slovenia have set their operations in the field of
cryptocurrency transactions, a fact which led the
Slovenian government to adopt a transparent legal framework concerning to this commercial issue. Recently, the
Tax Administration in Slovenia clarified that since
cryptocurrencies are virtual coins, they are not considered as monetary assets therefore they are not taxed in this country. Only as far as
bitcoin or other
cryptocurrencies generate income, the revenues will be
taxed by the Slovenian state through the
income tax.
This is only one of the aspects which motivate investors to
set up a cryptocurrency company in Slovenia, along the talented and specialized
workforce available in this country for much lower salaries than those you would have to pay in the rest of Europe. You are welcome to
address to our consultants in company registration in Slovenia all your concerns regarding the
Slovenian legislation connected to
cryptocurrencies.
How can an investor register a Slovenian cryptocurrency mining business?
One of the ways to start the procedure of
company registration in Slovenia in the field of
cryptocurrency is by setting up a
cryptocurrency mining business. In this case, special procedures have to be completed by the investors of
company, as presented below:
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• select the company’s activities that are prescribed by the Standard Classification of Activities of Republic of Slovenia;
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• since the cryptocurrency is a new field of activity, the investors will have to select the Other business and business consulting category (filed under no. 70.220);
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• by selecting this category, the investors will be allowed to perform a set of activities, such as consulting or operational assistance;
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• furthermore, the investor will need to register for tax purposes, and this can be done by registering as a natural person or as a legal entity.
Provided that the investor chooses to register as a natural person, it will be compulsory to report the income generated from cryptocurrency mining, with the mention that in the day in which the virtual coins are received, the recipient has to convert them into euros.
At the same time, it is necessary to know that mining activities for cryptocurrency businesses is also seen as a provision of data processing services delivered with the assistance of computers. This takes into consideration a wide range of cryptocurrency mining activities, such as resolving cryptographic algorithms, virtual tokens and others. This is why a business that is involved in this activity must also be classified under the NACE 63.11, which refers to data processing, hosting and related activities.
Register a cryptocurrency activity in Slovenia
When
opening a company in Slovenia that deals with
cryptocurrencies, the
company’s representatives will also have to select the activities developed by the business, from one of the sections of the
NACE Code.
Cryptocurrency trading is included, at the moment, in the
Class NACE 82.99 – N Administrative and support service activities, more exactly, the
sub-section SKD 82.990.
It is important to know that this section includes a wide range of business activities, such as payments on the services related to the conversion of currencies into cryptocurrencies, services designed for virtual wallets, services related to cryptographic tokens, but it also includes business consulting services regarding the usage of virtual currencies.
Conditions for company formation in Slovenia
In order to be officially registered, the
cryptocurrency companies in Slovenia need to elaborate an application file and submit it with the
Slovenian Business Register (PRS).
Our consultants can help you gather all needed documents and they can also help you open a bank account in which to deposit your capital.
A
cryptocurrency company in Slovenia will have to be organized just like any other enterprise in one of the legal structures provided by the
Company Law in this country. Feel free to
contact our experts in company formation in Slovenia in order to explain to you the advantages of each legal form for your
Slovenian cryptocurrency firm.