Regulatory Compliance Associates

Practical compliance solutions for Estonian companies

Practice areas

Company project management services

Training and consultancy

In-house AML compliant workforce rental service

Audit of risk management system of obliged entity

Regulatory compliance services

Legal services

AML contact person and Member of the Board recruitment and training service

About the firm

Our vision is to provide valuable input and offer proactive and practical compliance solutions and recommendations to fintech firms and all spectrum of asset management companies incorporated in Estonia. The ultimate desire is to help private equity firms to match complex compliance obligations under Estonian regulatory compliance requirements.

With our substantial knowledge about the market and the complex regulatory environment, we provide compliance solutions to ensure that your Estonian company is fully compliant with the Law,  stay alert, and be informed about the regulatory changes.

Taking advantage of our long-term experience in offering corporate services in Estonia, including the establishment of more than 100+ companies with financial service licenses, we are eager to offer the best possible and tailor-made approach to our customers.

Services

Company project management services

  • Project developing – execution and full assistance, including pre- and post-incorporation support services
  • AML officer service
  • Company principal service (company second director/Member of the Board)
  • Administration services, including assistance in finding a suitable office space for the company
  • Procedure and internal audit rules which are compliant with the Estonian laws (AML Procedure, Code of Conduct for the application of the customer’s due diligence measures, Code of Conduct for the collection and preservation of data, Code of Conduct for the performance of the notification obligation and for informing the management, Internal Control Rules)
  • Assistance with opening a bank account and/or a payment account
  • Other services directly related to the administration and operation of the client’s affiliated Estonian limited liability company

Regulatory compliance services

  • AML officer service
  • Company principal service (company second director/Member of the Board)
  • Compliance advisory during the application process
  • Provisions of advice for the business plan and corporate structure as well as advice on the key areas that regulatory authorities take into consideration when granting licenses
  • Preparation and implementation of the procedure and internal audit rules which are compliant with the Estonian laws (AML Procedure, Code of Conduct for the application of customer due diligence measures, Code of Conduct for the collection and preservation of data, Code of Conduct for the performance of the notification obligation and for informing the management, Internal Control Rules)
  • Fitting, filing and submitting the license applications
  • Handling of licensing application, including addressing all matters and queries raised by regulators during the application
  • Act as the main contact between regulators and clients
  • Negotiation of licensing conditions and notifying regulators of all relevant changes, if any, during the application process

Training and consultancy

  • AML and KYC training for obtaining an Estonian financial activity service licence
  • Training related to the company’s compliance with applicable legislation
  • Ad hoc compliance training
  • Consultations

Legal services

  • Legal advice
  • Commencement of challenge proceedings

    Commencement of challenge proceedings is an administrative procedure the purpose of which is to verify the legality of a given administrative act or performed act or of the refusal, delay or inaction thereof, as well as the non-examination of the application, and to apply a legal remedy. Due to our experience in communicating with licencing administrations, we can provide the client with high-quality legal advice to resolve the situation.

  • Court representation

In-house AML compliant workforce rental service

The service includes:

  • AML contact person of a licenced company and/or a local Member of the Board
  • Execution of tasks described in the Money Laundering and Terrorist Financing Prevention Act
  • Legal and compliance advice related to the context of Estonian AML legislation. Up to 4 hours per month

AML contact person and Member of the Board recruitment and training service

Our tasks are:

  • To find and recruit a person who has the necessary knowledge that fits the needs of the company
  • Full training of the candidate. The goal is to match the candidate with AML requirements and FIU conditions for such a position
  • Legal advice up to 4 hours in the first month after receiving the licenses

Audit of risk management system of obliged entity

  • The whole process would start with a practical assessment based on the client’s specifics
  • We evaluate the effectiveness of the company’s current rules of procedure, internal control rules and the client’s due diligence measures
  • We propose recommendations based on our audit in cooperation with the client
  • After the final evaluation, an updated version of the rules of procedures is prepared and handed over to the client

Marti Kõrnas, Managing Director

Marti Kõrnas began his advisory career with Incorporate in Estonia, gaining unparalleled experience in corporate law, while also establishing himself as respected advisor to virtual currency service providers.

As a seasoned corporate administrator, he is passionate about the fintech and virtual currency industry as they keep pushing innovation both in the financial sector and the Estonian regulatory space.

At the beginning of 2020, he has started developing AML/CFT procedures and is currently cooperating with Njord Law office to bring the first Estonian virtual currency exchange to the Estonian stock exchange. He holds an Advanced Anti-Money Laundering certificate from EiMF and has trained numerous compliance officers and team members for companies who have been licensed by the Estonian Financial Intelligence Unit.

Financial activity licence authorization process

Inquiry review and agenda planning

This is free of charge.

The next steps are are priced at an hourly rate of 190 EUR

Initial evaluation

We will arrange a meeting with the client, identify your needs and plan an initial approach. 2-3 hours

Roadmap drafting

A step-by-step procedure with a timeline. 14-16 hours

Preparation phase

The preparation phase consists of:

1. Collecting all necessary documents 
2. A KYC procedure
3, Payment account introduction
4. Company formation etc. 

24-30 hours

Submitting of the application

After the final review and necessary fittings, we submit the application to the regulator with all necessary and proper documentation. 4-6 hours

Handling of the licensing application

Processing and compliance, dealing with all matters and queries raised by regulators during the application;

We also act as the main contact between the regulator and the client. 26-30 hours

Issuance of the licence and post-authorization support

We will continue to offer guidance while maintaining and providing  required services. 4-6 hours

Contact Us

info@amlcompliance.eu

Blue Unicoin OÜ, Tornimäe tn 5, 10145, Tallinn, Estonia