Services we provide for ICO/STO companies
White paper legal analysis. We look at the token design and features and highlight all the potential security elements, which could classify your token as a security, and therefore require complying with the securities regulations. Additionally, we look at the tax and KYC questions, and whether your business would require any licensing to comply with the Estonian (and the EU) legal framework. Together with the analysis, the client will receive comments in regards to the token model, and if required, a binding legal opinion.
The comprehensive analysis includes:
• Security token elements
• Whether the Securities Market Act of Estonia applies to the offering?
• Whether the business model requires licensing?
• Elements of a “Ponzy scheme”
• Should the token be considered as an e-money?
• Is the token sale subject to the VAT?
• If the token sale is subject to the VAT, when and how the VAT should be paid?
• KYC and AML processes and requirements
Licenses that may be required, are:
1. Service of exchanging a virtual currency against a fiat currency
2. Virtual currency wallet service
Read full description of obtaining the licenses here
Token Sale Agreements. Every ICO project needs to govern the relationship with its investors and token buyers. Whether it's a private stage, pre-ICO or a public ICO, token sale agreements are a necessary part of every token launch.
Company upkeep and accounting. Our accounting staff is well experienced and focused on working with the blockchain projects - ICOs, STOs, traders, and exchanges. We also provide your company incorporation services, virtual office and other relevant support.
PRICING: The prices of the legal services for the ICO projects depend on what you need. The full package is between 10 000 € - 15 000 €, but you are not obliged to order the full package. The white paper analysis is priced between 3500 € - 5000 €, dependent on the concrete white paper.
Security Token Offering (STO)
Security Tokens are the next crypto megatrend. A security token is backed by external, tradable assets, and can represent a real share of the company. Security tokens give you ownership rights, whereas utility tokens are more like a gift card for company products/services.
We assist with writing the prospectus, registering the prospectus with the Estonian FSA, and advising on all legal parts of the offering. We'll help you to tokenize all kinds of assets together with our platform partners. Not all tokenized assets will be qualified as a security. There's an enormous potential for entrepreneurs and the owners of different assets to unlock unseen liquidity that wasn't possible before.
Price: Upon request and after careful analysis of the planned offering.
Read our blog post on security token offerings in Estonia - LINK
ICO chamber, token design, technical execution.
We have platform partners that help our clients to do media promotion, PR, raise funds, and take care of the technical part of the WP. These services include, but are not limited to, designing the token, analyzing the whole business model, writing the technical part of the white paper, providing the whole KYC solution and the ICO back- office (bounty programs etc).
Crypto company & Fintech licenses
We have a special package called "Crypto company", which means that we'll help you to set up a legal entity with cryptocurrency exchange and e-wallet licenses in Estonia. These licenses are specifically issued for cryptocurrency exchanges that want to offer fiat to crypto exchanging possibility to its clients. Comistar has set up crypto companies for clients all over the world.
Time-frame for setting up a crypto company is about 30 working days.
Price: Upon request
Read full description of obtaining the licenses HERE
E-money institution and Payment services licensing.
Companies looking to provide payment gateway services, money remittance services, online banking solutions or issue their own credit card or electronic money, need to obtain the e-money institution or the payment services license, dependent on their business model. Minimum required capital is 350 000 €, and it takes generally 8 - 10 months to obtain the license. Both licenses are passportable financial services in the EU.
Price: Upon request.