Registering as a Crypto Provider in El Salvador

Are you considering venturing into the world of crypto services in El Salvador? Ensuring a smooth registration process involves a clear understanding of the requirements. In this comprehensive blog post, we’ll guide you through the necessary steps for legal entities, distinguishing between domiciled and non-domiciled entities.

easyco - Crypto Provider in El Salvador

Navigating the Requirements for Domiciled Entities

  1. Constitutional Documentation: To commence the registration process, submit the constitutional act, articles of incorporation, statutes, association articles, or any equivalent legal document that provides evidence of your establishment. This document should be not only prepared but also duly registered with the esteemed National Registry Center (CNR).
  2. Ensuring Representation Clarity: In cases where legal representation is not overtly present in the constitutional act, it is imperative to present the legal representative’s credentials, which should be appropriately registered with the CNR.
  3. Empowering the Attorney: Should representation be facilitated through an attorney, a valid Power of Attorney is indispensable. This legally binding document should be registered with the CNR, explicitly authorizing the attorney to act on behalf of the crypto service provider.
  4. Identification Protocol: Beyond legal intricacies, ensure the inclusion of valid identification documents for pivotal figures involved in the establishment – the legal representative, appointed attorney (if applicable), and pertinent partners.
  5. Sealing the Deal with a Completed Digital Form: A crucial step involves diligently filling out the digital form, ensuring all mandatory fields are covered. Following validation by the Banking and Central Reserve (BCR), the form should be meticulously printed and signed by the legal representative. The final step involves submission at the designated “Bitcoin Service Providers Registry” counter.

Requirements for Non-Domiciled Entities

  1. Cross-Border Constitutional Compliance: For non-domiciled entities, presenting the constitutional act, articles of incorporation, statutes, association articles, or equivalent legal documentation is pivotal. This documentation should not only demonstrate establishment but also be appropriately registered with the Governmental Institution in the country of origin.
  2. Representative Legitimacy Verification: If legal representation is not overt in the constitutional document, the inclusion of the credential or document validating the status of the legal representative is essential. This document should be duly registered with the Governmental Institution in the country of origin. An acceptable alternative is presenting an Extract from the Registration of the entity in the home country, containing this critical information.
  3. Empowering Non-Domiciled Representatives: Similar to domiciled entities, if representation is through an attorney, a valid Power of Attorney is non-negotiable. This document should be registered with the CNR, clearly authorizing the attorney to act on behalf of the crypto service provider.
  4. Identification Protocols in Place: Maintain consistency by including valid identification documents for the non-domiciled legal representative, appointed attorney (if applicable), and significant partners involved in the venture.
  5. Formalizing Digital Documentation: Align with the process for domiciled entities by filling out the digital form diligently. Following validation by the BCR, ensure the form is printed and signed. If representation is through an attorney, the form should be signed by the accredited legal representative or the appointed attorney before submission to the “Bitcoin Service Providers Registry” counter.

Remember, all documentation submitted to the Bitcoin Service Providers Registry System must be in the original language. In instances where it’s not in Spanish, a simple translation is necessary.

By adhering meticulously to these requirements, you not only ensure a smooth registration process but also pave the way for a successful foray into the crypto service landscape in El Salvador. For a more detailed understanding, consult the official guidelines provided by the regulatory authorities. Happy registering!

Get Assistance from Easyco Experts!

El Salvador is the perfect country for your company formation! To make sure you register your company in the right way, you can get in touch with us. Our team of experts will ensure your business registration process complies with all Salvadorian laws.

At Easyco, we make company formation in El Salvador easy. Our corporate experts have vast experience helping companies and individuals register their businesses in El Salvador. We have a proven track record of success across all our services. Easyco aims to tackle the complex company formation processes across LATAM. We make business registration easy by providing an easy online company registration experience. Start your company in El Salvador today!

Furthermore, Easyco also provides additional services to guarantee your company’s compliance. In summary, they include:

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