The development of the digital economy in the European Union has reached a stage of maturity due to the implementation of the MiCA Regulation (Markets in Crypto-Assets). Bulgaria implemented it through the Law on Crypto-Asset Markets (Bulgarian MICAL) in June 2025, and currently combines a liberal fiscal policy with a legislative framework harmonized with the EU.

 

If you understand how to open a crypto business in Bulgaria, you can take advantage of a whole range of benefits offered by this jurisdiction. To learn more specifically about your project and receive an individual commercial proposal, contact AA Lawrange.

 

Advantages of Opening a Crypto Business in Bulgaria

This country is currently one of the key hubs for crypto companies seeking access to the single European market. Its advantages are obvious:

 

  • Favorable taxation – the corporate income tax is only 10%, which is one of the lowest rates in the EU; transactions with crypto-assets are exempt from VAT.
  • Passporting mechanism for operating in other EU countries – a CASP license in Bulgaria provides access to the entire European Economic Area without the need for additional licensing.
  • Cost of operating expenses – office rent and the hiring of qualified personnel are significantly cheaper than in Western Europe.

 

For your information! The regulator – the Financial Supervision Commission (FSC) – demonstrates a constructive approach by conducting preliminary consultations with applicants before document submission.

 

Regulation of Crypto Business in Bulgaria and MiCA Requirements

The national legislation of Bulgaria has been brought into full compliance with pan-European directives. If you have been interested in how to open a crypto business under MiCA rules, then you know that the key points are the protection of investors’ rights and the prevention of market manipulation.

 

The regulator of cryptocurrency activities in Bulgaria, instead of the National Revenue Agency (NRA), has become the Financial Supervision Commission (FSC). However, companies registered with the NRA before December 30, 2024, may continue operating under the old rules until July 1, 2026, that is, during the transitional period.

 

CASP License and Its Role in Opening a Crypto Business in Bulgaria

A CASP license (Crypto-Asset Service Provider) under the MiCA Regulation is a mandatory condition for the lawful conduct of regulated crypto-asset activities in Bulgaria, as well as throughout the EU.

 

What Is CASP and How Does It Differ from VASP

While previously a VASP license (Virtual Asset Service Provider) only implied notification of the regulator and compliance with AML/CFT regulations, CASP provides for full authorization requiring confirmation of capital, management qualifications, and technological resilience.

 

Which Crypto Companies Require a CASP License

Authorization is mandatory for:

 

  • crypto exchanges and exchange platforms;
  • custodial services (asset storage);
  • consultants on digital asset investments;
  • providers performing crypto-asset portfolio management.

 

For your information! Additional requirements apply to issuers of asset-referenced tokens (ART) and electronic money tokens (EMT), and they are supervised by the Bulgarian National Bank (BNB).

 

Main Requirements for Obtaining a CASP License

To ensure that obtaining a CASP license in Bulgaria is successful, it is necessary to:

 

  • register a business;
  • comply with the minimum share capital requirements depending on the class of services;
  • prove the good repute (fit and proper) and professional competence of management;
  • develop internal policies – on AML/CFT, security, risk management, as well as a business continuity plan;
  • ensure real presence.

 

Connection Between the CASP License, MiCA, and Operation in the EU Market

A CASP license obtained in Bulgaria is valid throughout the European Economic Area thanks to the passporting mechanism provided for in Article 65 of MiCA (Cross-border provision of crypto-asset services).

 

Important! A company licensed by the Bulgarian FSC may provide services in any other EU country by notifying the competent authority of that country, without the need to obtain a separate license.

 

Main Stages of Opening a Crypto Business in Bulgaria

Let us consider how the registration of a cryptocurrency company in Bulgaria takes place step by step.

 

Registration of a Legal Entity

The first step is company registration. Most often, this is an OOD – Druzhestvo s ogranichena otgovornost (equivalent of an LLC). The procedure includes verification and reservation of the company name in the Commercial Register, notarization of incorporation documents, opening a temporary bank account, and contribution of the share capital.

 

Development of Internal Policies and Compliance Structure

Before registering a crypto business in Bulgaria, it is necessary to prepare AML/CFT policies in accordance with the Law on Measures Against Money Laundering (MAMLA), KYC and Due Diligence procedures, a risk management policy, an IT security policy, business continuity and disaster recovery plans, as well as transaction monitoring and suspicious transaction reporting procedures.

 

Formation of Staff and Management System

Among other employees, the company is obliged to hire a qualified compliance officer (MLRO) responsible for interaction with the regulator.

 

Submission of the Document Package to the FSC

The documents attached to the application include a 3-year business plan, a description of IT systems, audit reports, and confirmation of the origin of the founders’ funds.

 

Review of the Application by the Regulator and Obtaining a CASP License

The Financial Supervision Commission (FSC) conducts an assessment of the company’s compliance with MiCA requirements. During the review process, the regulator may request additional materials or conduct meetings. After the verification, the company is entered into the public register and may begin operational activities.

 

Banking and Payment Aspects of Crypto Business

Despite the loyalty of the legislation, opening an account in Bulgaria for a crypto company remains a difficult task. Traditional banks exercise caution, therefore the optimal solution often lies in cooperation with European EMIs (Electronic Money Institutions), which are more loyal to the crypto sector.

 

Taxation of Crypto Business in Bulgaria

The tax regime in Bulgaria is one of the most favorable in the EU for crypto business:

 

  • corporate profit tax – 10%;
  • dividend tax – 5%;
  • cryptocurrency operations (exchange, trading) are exempt from VAT.

 

For your information! Cryptocurrency in accounting is classified as a digital asset and is valued on the date of receipt at fair market value.

 

Timeframes and Cost of Opening a Crypto Business in Bulgaria

The full process – from idea to obtaining a license – takes from 4 to 9 months. Most of the time is spent on preparing documents and waiting for the regulator to make a decision. The amount of expenses depends on the license class and also includes costs for legal support, policy development, office rent, and formation of share capital.

 

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Legal Assistance from Lawrange

Navigating the complex MiCA requirements requires a professional approach. AA Lawrange offers comprehensive support at all stages of CASP licensing – from choosing the optimal business structure and company registration to the development of AML policies, support during interaction with the FSC, and opening bank accounts.

 

Conclusions

Bulgaria offers undeniable advantages for launching a cryptocurrency project in 2026. At the same time, after understanding how to establish a crypto business in Bulgaria, it becomes clear that this is a complex and rather responsible procedure.

 

Due to the tightening of regulation (the transition from simple VASP registration to full CASP licensing), high-quality legal assistance is important. In order for the project to quickly enter the market and competitors not to take advantage of the head start, you should contact only trusted and 100% reliable lawyers.

 

FAQ

Which company forms are suitable for crypto business in Bulgaria?

The most suitable form is an OOD (Limited Liability Company) due to the flexibility of management and the limited liability of participants. Although for large projects with IPO plans, an AD (Joint Stock Company) is more suitable.

 

Is a license required for crypto business in Bulgaria?

Yes, according to MiCA, any activity related to the exchange, storage, or management of crypto-assets requires obtaining CASP authorization. The previously existing VASP registration system with the National Revenue Agency (NRA) has been abolished. Activities without a license after July 1, 2026 (the end of the transitional period) entail liability.

 

Can a non-resident open a crypto business in Bulgaria?

Yes, foreign founders and directors are allowed without restrictions. However, when obtaining a CASP license, it is necessary to appoint a local contact person (often a compliance specialist) who will be responsible for interaction with the regulator.

 

How long does the registration of a crypto company in Bulgaria take?

The registration of a legal entity itself in the Commercial Register takes from 2 to 4 weeks, but the process of obtaining a CASP license lasts on average from 6 months.

 

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