Step-by-Step Process to Obtain a MiCA CASP License
With the EU MiCA (Markets in Crypto-Assets) regulation fully in effect in 2026, obtaining a CASP (Crypto-Asset Service Provider) license is essential for crypto operators who want to legally operate across the European Economic Area (EEA). A MiCA CASP license ensures compliance, investor confidence, and the ability to passport services throughout the EU.
This guide outlines the step-by-step process for obtaining a MiCA CASP license, with practical examples and timelines.
Establish a Legal Entity
Before applying for a CASP license, you must establish a compliant company in an EU member state. Typical structures include:
- Société à responsabilité limitée (S.à r.l.) in Luxembourg
- Private Limited Company (Ltd.) in Estonia or Malta
Key requirements:
- 100% foreign ownership allowed
- Minimum share capital depending on service type (€12,000–€50,000)
- Transparent corporate governance and reporting
- Functional presence in the EU
Example: A crypto exchange may choose Estonia for a fast setup and efficient regulatory process, while custody providers often choose Luxembourg for stronger investor protection and banking access.
Define Your Service Scope
Determine which MiCA-authorized services your CASP will provide:
- Crypto-asset exchange services
- Custody and wallet solutions
- Execution of client orders
- Transfer and placement of crypto-assets
- Advisory services
The service scope affects capital requirements, compliance obligations, and reporting standards.
Capital Allocation and Impact
Allocate the required minimum capital according to your service type:
| Service Type | Minimum Capital | Notes / Impact |
|---|---|---|
| Advisory services | €50,000 | Covers basic compliance; suitable for small-scale advisors |
| Custody or exchange services | €125,000 | Ensures security of client assets; needed for wallets and exchanges |
| Trading platforms | €150,000+ | Supports high transaction volumes; higher reserve requirements may apply |
Additional reserves may be needed depending on operational volume and risk exposure.
Tip: Choosing a country with a lower administrative cost (e.g., Estonia) can optimize your initial investment.
Start Your Fully Compliant CASP Structure in 2026
Governance and Compliance Setup
Prepare a robust governance and compliance framework:
Appoint qualified directors and compliance officers
Establish clear operational hierarchy and internal controls
Implement AML/KYC programs, transaction monitoring, and internal audits
Ensure cybersecurity protocols and GDPR-compliant data protection
Document risk management procedures
Prepare Licensing Documentation
Company incorporation documents
Share capital proof
Governance and compliance manuals
Operational policies and cybersecurity measures
Risk management and audit procedures
Submit to Regulatory Authority
Submit your application to the relevant EU regulatory authority (e.g., CSSF in Luxembourg, Finantsinspektsioon in Estonia, MFSA in Malta):
- Ensure all forms are complete and accurate
- Provide clear ownership and UBO disclosure
- Include proof of functional EU presence
Estimated review period: 3–6 months.
Some jurisdictions, like Estonia, can process applications in 3–4 months, while Luxembourg may take closer to 5–6 months depending on complexity.
Regulatory Review and Feedback
During this stage:
- The authority reviews governance, capital, and compliance frameworks
- Requests additional information if needed
- Confirms alignment with MiCA regulations
Respond promptly to avoid delays.
Licensing Approval and Banking Integration
Once approved:
- Receive your CASP license, valid for EU operations
- Initiate banking relationships with EU banks and PSPs
- Implement EU-wide operational and reporting systems
Licensed CASPs benefit from EU passporting rights, enabling cross-border crypto services.
Ongoing Compliance Obligations
After obtaining your license, CASPs must:
- Maintain AML/KYC compliance and transaction monitoring
- Conduct regular internal audits
- Submit periodic reports to the regulatory authority
- Maintain cybersecurity and IT security standards
- Pay annual supervisory fees
Non-compliance can result in fines, license suspension, or revocation.
Frequently Asked Questions
- Capital requirements: €50,000–€150,000+ depending on service type
- Administrative costs and legal fees: €5,000–€20,000
- Ongoing supervisory fees: varies by country (~€2,000–€10,000/year)
Yes. MiCA CASP licenses include EU passporting, allowing services across all EEA countries.
- Fines, license suspension, or revocation
- Potential legal liability for directors
- Loss of client trust
- Luxembourg: Strong investor protection, established banking relationships
- Estonia: Fast setup, tech-friendly environment
- Malta: Favorable crypto regulatory framework, EU passporting
Start Your MiCA CASP Journey
Obtaining a MiCA CASP license is a critical step for legally expanding your crypto business in Europe.
Ready to launch your EU crypto operations? Contact Licensium today for a full consultation. Our experts guide you through company formation, capital allocation, governance setup, licensing documentation, and regulatory submission — ensuring a smooth, fully compliant process.