Country overview

#117

Nauru

Country stats

Rating Points

This indicator describes the overall rating of a given jurisdiction on several parameters according to cryptocurrency operations - market volume, crypto regulation, business climate, taxation framework.

Crypto Penetration

Estimated percentage of crypto users out of the country's total population based on public data.

Legal Entities

Number of crypto companies registered in the country based on regulator data if available or other types of public data.

Regulation Points

An overall assessment of the granularity of crypto regulation in a given country. A high score is also given to countries where cryptocurrency transactions are highly regulated.

Amount of crypto users

100

Total amount of crypto users out of the country's total population based on public data.

Taxation points

This figure, according to our analysts' calculations, indicates the overall level of tax burden for cryptocurrency transactions in a given country. The higher the indicator, the lower the burden.

Market volume points

A rough estimate of this jurisdiction's retail crypto market relative to the rest of the world. The higher the indicator, the higher the market potential.

Status of crypto

Legally allowed

General status of cryptocurrency regulation in this jurisdiction.

Crypto payments

No info

The legal status of cryptocurrency payments for goods and services in a given country based on information from regulators, public data and feedback from our community.

Security Level

Safe place

The overall level of security in a given country based on open data.

Crypto Salaries

No info

The legal status of cryptocurrency salaries to employers in a given country based on information from regulators, public data and feedback from our community.

Business Climate

No info

Overall assessment of the friendliness of this country for crypto-business. This indicator takes into account the cost of obtaining a license and the attitude towards crypto entities in the country.

Stablecoin Regulation

No info

This indicator is evaluating the regulation of stablecoins in a given country. Complex regulation means that it is possible to issue steiblcoins and obtain a license for this activity. Basic regulation means that the issuance of stablecoins is possible, but not all legal aspects are defined in the law. Standard regulation means that there is a legal practice of steylcoin circulation in a given country.

Bad Factors

This section describes the unfavorable economic factors for crypto-business in a given country. These are countries that are under sanctions or on the FATF grey list and other factors.

Types of licenses

Crypto-to-crypto

This license type allows VASP to provide legal exchange from one cryptocurrency to another.

Crypto-to-fiat

This type of license regulates the exchange from cryptocurrency to fiat.

Wallet/Custody

This country has a legal licensing procedure for companies that store cryptocurrency - - crypto wallet providers and custodians.

ICO/STO

This indicator describes legal procedures for token sales and security token issuance. This country has a clear regulation framework and licensing procedures for entities that provide this activity.

Good

Medium

Bad

intro

This is general info about crypto regulation in Nauru. A more precise overview will be published later. However, if you find any inaccuracy or have other feedback - please write us in telegram @ilya_ii or by e-mail - editor@cryptopenetration.com

The Republic of Nauru is located in Oceania in the central part of the Pacific Ocean. It has an area of 21 km2 and a population of 11,000 people based on Wikipedia (1).

Everyone needs a visa to enter Nauru! Yet, the way a visa is obtained depends on a traveler’s nationality and purpose of entry according to VisaGuide (2).

By obtaining a residence permit known as a certificate of residence, you can live and work in Nauru for a long time. To apply for Permanent Residency, a foreigner must have lived in Nauru for more than two years and have a work permit or temporary residence permit. It does not make you a citizen, it only gives you the right to live and work on the island by VisitWorld (3)

To become a citizen, you must fall into one of the following categories: Citizenship by origin, By birth, Citizenship through marriage, Citizenship by naturalization. Persons entitled to naturalization include: Legal spouse of a Nauru citizen; Underage child, legally adopted by at least one of the parents from Nauru, which came into force after the court issued an adoption decision; or Persons who can confirm the ownership of land through the biological origin of a Nauru citizen according to VisitWorld (4).

Security level

Nauru is a safe place, according to our rating. Jurisdiction has 47.35 points (from 100) for safety level in Numbeo crime rating (5).

Crypto Payments

We do not have data on cryptocurrency payments in this country.

Crypto Salaries

No regulation.

Legal

Based on local Financial Intelligence Unit there are no VASP operators in Nauru. However, VASP operators (6) are legally defined in the AML-TFS Act 2023 of Nauru. Based on that document any VASP operating in the country needs a business license under BLA 2017. Based on the document mentioned above there is still no separate crypto regulation framework in the country. We haven't find no other information about legal acts or initiatives dedicated to crypto regulation in Nauru. Please contact us, if you have information on this topic.

However, Nauru is included into EU list of non cooperative jurisdictions for tax purposes. It is famous for opportunities to optimize taxation structure. That's why crypto operation in the country may be possible, even there is a lack of clarity for crypto regulations in the country.

Taxation

Nauru has a progressive personal income tax rate of 20% if the individual earns more than $8,400 per month, according to the Department of Finance (7).

Links

1)👉🏻Nauru. Wikipedia

2)👉🏻Visa in Nauru

3)👉🏻Residence permit in Nauru

4)👉🏻Citizenship in Nauru

5)👉🏻Crime Index in Nauru

6)👉🏻Virtual Asset Service Provider Policy

7)👉🏻 Department of Finance NAURU TAX RATES AS AT 1 JULY 2020

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intro

The Republic of Nauru is located in Oceania in the central part of the Pacific Ocean. It has an area of 21 km2 and a population of 11,000 people based on Wikipedia (1).

Everyone needs a visa to enter Nauru! Yet, the way a visa is obtained depends on a traveler’s nationality and purpose of entry according to VisaGuide (2).

Security level

Nauru is a safe place, according to our rating. Jurisdiction has 47.35 points (from 100) for safety level in Numbeo crime rating (5).

Crypto Payments

We do not have data on cryptocurrency payments in this country.

Crypto Salaries

No regulation.

Legal

Taxation

Nauru has a progressive personal income tax rate of 20% if the individual earns more than $8,400 per month, according to the Department of Finance (7).

Links

1)👉🏻Nauru. Wikipedia

2)👉🏻Visa in Nauru

3)👉🏻Residence permit in Nauru

4)👉🏻Citizenship in Nauru

5)👉🏻Crime Index in Nauru

6)👉🏻Virtual Asset Service Provider Policy

7)👉🏻 Department of Finance NAURU TAX RATES AS AT 1 JULY 2020