With the full entry into force of the MiCA (Markets in Crypto-Assets) regulation, the old national registration regimes have become obsolete. They have been replaced by a unified authorization system that provides access to a massive market. The decision of where to obtain a CASP crypto license plays a strategic role for fintech companies.

 

Today, a successful launch depends on the precise choice of jurisdiction. National regulators within EU countries apply common European standards, which differ significantly in internal procedures, document review speed, and maintenance costs. Professional support from leading experts makes it possible to thoroughly analyze the specifics of each region and complete this process without regulatory risks.

 

What Is a CASP License and Who Needs It

A CASP (Crypto-Asset Service Provider) authorization is an official permit to conduct activities related to digital assets within the European Union. In 2026, this document fully replaced local VASP authorizations.

 

The main advantage of the new regulation lies in the passporting mechanism: once approved in one country, a company can legally scale its crypto business across all 27 EU member states.

 

The transitional period ends on July 1, 2026 (for some countries, the strict deadline came as early as January 1), which means operating without the new European status becomes illegal. To determine which country is the most beneficial for obtaining a CASP license, it is necessary to define the range of commercial services your organization provides and the regulatory criteria under which it falls.

 

What Services Does a CASP License Cover

The unified European regulation divides provider activities into several key categories. Each category has strict financial requirements regarding own capital. When applying, you may choose either individual services or a full range of activities.

 

The regulation covers the following areas:

 

  • Safekeeping and administration of crypto-assets on behalf of clients (custodial services).
  • Operation of trading platforms (crypto exchanges).
  • Exchange of digital assets for fiat currencies (and vice versa).
  • Conversion of one type of cryptocurrency into another.
  • Execution of orders on behalf of third parties.
  • Placement and promotion of crypto-assets.
  • Reception and transmission of client orders.
  • Provision of investment advice and portfolio management.

 

According to the official MiCA classification (Article 67), the minimum share capital is divided into three classes:

 

  • Class 1 (advisory services) requires at least €50,000.
  • Class 2 (exchange operations) requires at least €125,000.
  • Class 3 (custodial services and operation of trading platforms) requires at least €150,000 to be held in an account.

 

When planning a launch, it is important to accurately align the scale of the project with the financial burden.

 

Who Is Required to Obtain a CASP License

The new legislation covers virtually all market participants interacting with European users. Oversight by central banks has become comparable to the supervision of traditional payment systems.

 

The following entities are required to undergo the authorization procedure:

 

  • Centralized cryptocurrency exchanges (CEXs) and exchange services.
  • Custodial wallet providers.
  • Stablecoin issuers (ART and EMT Tokens).
  • Financial advisors and crypto portfolio managers.
  • Platforms conducting initial token offerings.

 

If a project plans to raise capital or serve EU residents, it must have a legal country of incorporation. Ignoring the rules may result in complete asset blocking, massive fines, and a ban on conducting business activities in Europe.

 

How to Choose a Country for Obtaining a CASP License

The process of selecting the ideal jurisdiction for a fintech project consists of a comprehensive audit of multiple factors. Although the general rules are dictated by Brussels, local regulation in specific countries has its own peculiarities, which can either accelerate the launch or create insurmountable bureaucratic obstacles. Experienced lawyers help align business capabilities with the requirements of local supervisory authorities.

 

Before making a final decision and determining where to obtain a CASP license, it is necessary to carefully examine five key criteria that shape the operational environment for technology companies.

 

Jurisdiction Reputation and Regulator Processing Speed

The reputation of the selected state directly affects the level of trust from major counterparties, institutional investors, and end users. However, a high reputation often results in prolonged internal procedures.

 

For example, in Germany (BaFin) or the Netherlands (DNB), the application review timeframes may extend up to 12 months due to the overwhelming workload of the authorities. At the same time, more flexible fintech hubs are capable of granting approval within 3–6 months while strictly complying with European directives.

 

Registration and Maintenance Costs

The launch budget includes not only own funds requirements. Additional costs include government application fees: depending on the country, these may range from several thousand euros to €40,000–60,000 in more conservative jurisdictions.

 

The main expenses usually include:

 

  • legal support and document preparation;
  • implementation of AML/KYC procedures;
  • audit and company support;
  • maintenance of qualified personnel;
  • technical and compliance infrastructure.

 

The final cost of launch and ongoing maintenance depends on the scale of the project, the range of services, and the selected registration region.

 

Office and Local Director Requirements

The era of nominee services and “mailbox companies” is over. To obtain CASP authorization, a company must confirm a real presence (substance) in the country of registration.

 

Basic requirements usually include:

 

  • a physical office that complies with data storage and protection standards;
  • a local director with proven experience and an impeccable business reputation;
  • a local MLRO permanently residing in the jurisdiction;
  • an IT specialist responsible for cybersecurity and compliance with DORA requirements.

 

Regulators separately assess the professional qualifications of management, education, work experience, and absence of criminal records.

 

Taxation of Crypto Companies

Fiscal policy remains the prerogative of national governments, which is why taxes differ significantly across European countries.

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While some jurisdictions apply standard corporate tax rates exceeding 20–25%, others offer deductions for technology startups, IP Box regimes, and preferential conditions for small businesses. In certain cases, the effective tax burden may be reduced to 5–6%. Proper corporate structuring allows companies to legally reduce operational expenses.

 

Banking Infrastructure

A stable connection with the fiat world is the key to the survival of any blockchain startup. Having authorization alone guarantees nothing. Success depends on how loyal the local financial system is toward digital assets.

 

In some regions, opening a traditional bank account for settlement operations is nearly impossible, forcing companies to use European EMIs (Electronic Money Institutions), whereas in advanced fintech hubs, banks willingly cooperate with regulated CASP companies.

 

Popular Jurisdictions for Obtaining a CASP License in 2026

Each European state seeks to attract high-quality technology projects by creating competitive advantages. If you are looking for the optimal balance between speed, costs, and reputation, it is worth considering the most popular countries for obtaining a CASP license. Below is a detailed overview of the five most in-demand jurisdictions this year.

 

Lithuania

The country firmly maintains its status as the leading fintech center of Eastern Europe. The local regulator (Lietuvos bankas) has extensive experience working with digital platforms, and the developed ecosystem makes it possible to launch highly complex products. Obtaining a CASP license in Lithuania attracts investors through a transparent and fully digitized document submission process via specialized government portals.

 

Features of the Lithuanian jurisdiction:

 

  • Application review timelines average between 3 and 6 months.
  • Availability of a preferential tax regime (in certain cases, corporate income tax during the first year may be 0%, and subsequently 6% for small companies instead of the standard 15%).
  • High but transparent substance requirements: the Bank of Lithuania strictly monitors the presence of a real staff (the CEO, MLRO, and Compliance Officer must be physically present in the country).
  • Loyal infrastructure: access to the CENTROLink payment system.

 

This approach guarantees the legality of operations throughout the EU and minimizes the risks of regulatory claims.

 

Portugal

Another favorable jurisdiction for crypto enthusiasts. Official supervision is carried out by Banco de Portugal and CMVM, dividing prudential supervision and market conduct oversight between them. A CASP license obtained in Portugal opens the door to working with major European capital and ensures high international status.

 

Advantages and specific features of the region:

 

  • A comfortable climate for the relocation of key employees and business founders.
  • Strict AML/KYC rules: companies are equated with full-fledged financial institutions, which requires thoroughly documented transaction monitoring procedures.
  • The possibility of using tax incentives for expatriates and technology startups.
  • Moderate government fees compared to Western European countries.

 

All of this makes the Portuguese direction one of the most attractive for long-term investments.

 

Bulgaria

This jurisdiction attracts entrepreneurs with the opportunity to minimize operational expenses. The National Revenue Agency, together with the financial regulator, has built a transparent scheme for transitioning to MiCA standards. An official CASP license in Bulgaria is an excellent choice for startups seeking to enter the EU market with minimal infrastructure costs.

 

Key advantages:

 

  • The lowest corporate tax rate in the EU – a fixed 10%.
  • Affordable commercial real estate rental costs and relatively low labor expenses for qualified local specialists.
  • Moderate government fees for document review.
  • A more loyal approach to establishing local substance during the initial stages.

 

This country confidently competes with more expensive European jurisdictions.

 

Spain

Here, the focus is placed on protecting consumer rights and preventing market abuse (under the supervision of the CNMV and Banco de España). It is ideally suited for mature companies targeting not only Southern Europe but also planning to use Spain as a bridge for expansion into Spanish-speaking Latin American markets.

 

Market specifics:

 

  • An in-depth audit of cybersecurity systems and client data protection during the application process.
  • The requirement to provide a detailed three-year business plan with confirmed sources of capital origin.
  • High standards for personnel qualifications (the local director must speak Spanish and have experience in regulated financial institutions).
  • Effective investor protection, which increases the capitalization of the brand itself.

 

Such strict measures filter out dishonest participants, forming an elite business environment. A valid CASP license in Spain guarantees a serious level of trust from top-tier European banks.

 

Slovakia

The National Bank of the country has actively adapted domestic legislation to pan-European directives. A CASP license in Slovakia represents a balanced solution for businesses focused on Central Europe. The supervisory authority demonstrates predictability and readiness for open dialogue with applicants that have a clearly structured security architecture.

 

Features of the Slovak approach:

 

  • Clear and structured instructions for document preparation, minimizing subjective refusals.
  • A stable legal environment and a developed IT industry sector, simplifying the search for technical specialists.
  • Mandatory physical presence: the office must be fully functional rather than merely a formal address.
  • Direct interaction with the regulator in English and Slovak during the audit process.

 

As a result, investors receive a transparent instrument for scaling operations throughout the EU.

 

Typical Mistakes When Choosing a Jurisdiction for CASP

Many entrepreneurs, while trying to independently find the answer to where to obtain a CASP crypto license, make critical mistakes that result in the loss of time and hundreds of thousands of euros. A detailed analysis of common misconceptions helps avoid financial losses in the European fintech market.

 

The main destructive miscalculations of investors when launching a project:

 

  • Focusing exclusively on low government fees.
    Very often, behind a cheap launch lie colossal final costs for maintaining qualified personnel or application review procedures by supervisory authorities that drag on for years.
  • Ignoring the rules for creating real economic presence (substance).
    An attempt to hire a nominee director without a relevant professional background or rent a virtual address will inevitably result in a refusal of authorization. European central banks conduct thorough interviews with top management, verifying the involvement of executives in operational processes.
  • Underestimating the complexity of compliance and AML/KYC standards.
    It is not enough to simply download a template for protective policies. Local regulation obliges businesses to implement automated transaction monitoring systems, integrate blockchain analytics tools (Chainalysis, Crystal, Elliptic), and thoroughly document algorithms of actions when suspicious activity is detected.

 

Understanding these hidden barriers makes it possible to create a realistic budget, properly organize an office, and hire a local director who meets the established criteria. A thoughtfully structured launch guarantees the stable development of your crypto business.

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Legal Assistance from Lawrange

Preparation for authorization under MiCA standards is not a formality and certainly not a quick process. It involves an intersection of corporate law, tax regulation, and fintech sector requirements. In such projects, structured support at every stage is essential.

 

Lawrange works with crypto companies entering the European Union market and seeking to obtain legal status under MiCA. The team analyzes the business model, selects the appropriate jurisdiction, and assesses regulatory risks in advance.

 

With our assistance, the following key areas are covered:

 

  • registration of a legal entity and shareholding structuring in the selected EU country;
  • development of internal documentation: AML/KYC, BCP, and conflict-of-interest management policies;
  • selection of a local director and qualified specialists;
  • organization of substance requirements, including office setup and operational infrastructure;
  • preparation of the technical IT architecture file in accordance with DORA standards;
  • assistance with opening a bank account and interaction with financial institutions;
  • communication with regulators during the application review process.

 

Special emphasis is placed on timelines. It is important not only to define them but also to meet them: any deviation increases costs and complicates further steps.

 

If the launch of a CASP project in the EU is planned, it is critical to build the legal architecture in advance. With Lawrange, you will smoothly pass all regulatory checks and launch your business without unnecessary headaches.

 

Conclusions

Europe has finally closed the loopholes for “grey” projects, turning the MiCA regulation into a full-fledged quality standard. In 2026, CASP status is not just a marketing checkbox but the only way to survive in this market and avoid restrictions. The main advantage of the new rules is that the bureaucratic barrier only needs to be overcome once: by obtaining approval in one country, you gain access to all 27 member states.

 

Choosing a location is purely a mathematical task with no universal answer. You will need to weigh your readiness to freeze share capital, calculate local taxes, and allocate a budget for maintaining a real team. While Lithuania attracts businesses with its digital infrastructure and Bulgaria appeals with its low tax rate, conservative Spain offers an impeccable reputation for working with top-tier banks.

 

Attempting to complete this quest alone is the fastest way to lose time and capital. Qualified legal support at the launch stage pays off many times over, as experts immediately identify the hidden pitfalls of local regulators and help launch a crypto business without fatal mistakes.

 

FAQ

How long does it take to obtain a CASP license?

The formal regulatory period for reviewing documents after submitting a complete application is from 3 to 6 months in accordance with the provisions of the MiCA regulation. However, considering the company preparation stage, development of AML policies, IT systems audit, and employee hiring, the entire process usually takes from 6 to 12 months, and in some cases even longer.

 

Which EU country is best for obtaining a CASP license?

There is no perfect answer, as everything depends on your goals. Lithuania is often chosen for a fast launch and a strong fintech ecosystem. If minimizing corporate taxes is the priority, Bulgaria is the optimal solution. For working with major capital and obtaining premium status, Portugal or Spain are excellent choices.

 

Is it possible to operate throughout Europe with one license?

Yes, this is the main advantage of the MiCA regulation. The passporting procedure allows a company authorized in one EU member state to legally provide its services in all other EU countries without the need to undergo repeated licensing.

 

Is a physical office required to obtain a CASP license?

Yes, the presence of a real functioning office in the country of application is a mandatory requirement in all EU jurisdictions. Formal registration at a legal address (a shell company) is prohibited. The regulator must be certain that effective management and data storage are carried out directly within the territory of the state.

 

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