Forming a Polish LLC and VASP Registration
THE CLIENT
A German cryptocurrency startup, racing against time.
OUR OFFERING
Forming a Polish LLC (Sp. z o.o.) and swift VASP registration.
THE CHALLENGE
Facing an urgent need for a VASP license to secure investor talks, the German startup was confronted with multiple challenges: establishing a Limited Liability Company (LLC) in Poland, navigating crypto-specific Anti-Money Laundering (AML) regulations, and appointing a qualified Money Laundering Reporting Officer (MLRO). Time was of the essence, and each step needed careful navigation through Polish regulatory procedures to achieve the VASP registration quickly.
THE SOLUTION
We acted immediately to meet the startup’s pressing needs:
- Day One: Obtained a PESEL number (a personal ID required for business activities in Poland) and set up access to the Trusted Profile, a government e-service platform. This allowed us to promptly submit the registration application for forming the LLC.
- Day Two: The new LLC company was successfully registered, and we immediately filed for its VASP status.
- MLRO Support: A highly qualified, crypto-experienced Money Laundering Reporting Officer was recruited to ensure compliance with AML regulations.
- Legal Preparedness: Delivered a full AML/KYC legal package to ensure the startup was compliant with Polish regulations.
THE RESULTS
Within just 8 days from the establishment of the LLC, the company was listed in the Polish crypto registry as a Virtual Asset Service Provider, ready to engage in business operations and investor negotiations.
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