Crypto Licensing
Crypto Licence in Lithuania: MiCA CASP Cost, Timeline & Requirements (2026)
Lithuania was once the fast, cheap way into EU crypto, thousands of businesses registered as virtual asset service providers through a light-touch national regime. That door has closed. Under MiCA, a crypto business serving the EU now needs a full CASP authorisation from the Bank of Lithuania, with real capital, local substance and a proper compliance file. This guide sets out what the Lithuanian route now costs, how long it takes, and the question that decides everything: whether the licence you get can actually be banked.
Lithuania crypto licence at a glance
- Regulator (NCA)
- Bank of Lithuania
- Licence
- MiCA CASP authorisation
- Capital tier
- EUR 50k / 125k / 150k by service class
- Timeline
- Roughly 6–12 months to authorisation
- Cost band
- Roughly EUR 50k–150k+ all-in, first year
- EU passporting
- Yes — all 27 EU + EEA states
Cost and timeline are indicative ranges for 2026 and vary by service class, file quality and regulator questions. Figures should be confirmed against current Bank of Lithuania guidance before you file.
Key takeaways
The old regime is gone. Lithuania’s fast, cheap registered-VASP route via the FCIS no longer authorises new crypto business; MiCA CASP authorisation by the Bank of Lithuania has replaced it.
A CASP licence passports. One authorisation from the Bank of Lithuania lets you serve customers across all 27 EU member states plus the EEA, without a separate licence per country.
Capital scales with what you do. Minimum own funds run EUR 50k, 125k or 150k depending on the service class you apply for under MiCA Annex IV.
Substance is real now. You need genuine local presence: at least one Lithuania-resident director, a real office, and a fit-and-proper MLRO, not a shelf company.
Banking is still the test. A CASP licence proves you are regulated; it does not open a bank account. Arranging the fiat rails alongside the licence is where projects live or die.
From registered VASP to MiCA CASP
For years, Lithuania ran the most accessible crypto-authorisation regime in the EU. A business could register as a VASP under national anti-money-laundering rules, with supervision tied to the Financial Crime Investigation Service (the FCIS), for a fraction of the cost and time of a full financial licence. Thousands of companies took that route, and Lithuania became the volume jurisdiction for crypto registration in Europe.
MiCA ended that model. The EU’s harmonised crypto framework replaced 27 national regimes with a single authorisation, the CASP licence, supervised in Lithuania by the Bank of Lithuania as national competent authority rather than by the FCIS. Lithuania set a transitional window for existing registered VASPs to convert, but under MiCA’s own transitional article that grandfathering cannot run past mid-2026. In practice, the cheap registration is gone: new entrants apply for a CASP authorisation from day one.
The distinction matters commercially. A pre-MiCA registration no longer keeps EU market access alive, and banks increasingly decline crypto clients who cannot show a CASP path. We set out the wider picture on our crypto licensing overview and on the dedicated CASP licence and VASP licence in Europe pages.
Who a Lithuanian CASP licence suits
A good fit if
You genuinely intend to serve EU and EEA customers and want one passportable authorisation instead of a licence per country.
You can fund and maintain the capital tier for your service class, and you are ready to put real substance on the ground in Lithuania.
You want a mid-cost EU hub with an established fintech ecosystem, rather than the highest-prestige or the cheapest offshore option.
Probably not if
You are chasing the old fast, cheap registered-VASP route. That regime is closed; there is no light-touch shortcut left in Lithuania.
Your customers are outside the EU and you have no EU ambition. An offshore licence is likely cheaper and quicker for that footprint.
You cannot commit local substance or ongoing capital. A CASP application without real presence will not clear the Bank of Lithuania’s review.
Lithuania CASP requirements
A CASP application is a full financial-licence file. These are the pillars the Bank of Lithuania assesses before it will authorise you.
Lithuanian legal entity
A UAB (private limited company) incorporated in Lithuania, with a transparent, fully mapped ownership structure up to the ultimate beneficial owners.
Minimum own funds
EUR 50k, 125k or 150k depending on service class, fully paid up and held on an ongoing basis, or a quarter of fixed overheads if higher.
Local substance
At least one Lithuania-resident director, a genuine registered office in Lithuania, and demonstrable day-to-day management in the jurisdiction.
Fit-and-proper management
Directors and key function holders must pass the Bank of Lithuania’s suitability assessment on reputation, experience and financial soundness.
Resident MLRO
A named, qualified Money Laundering Reporting Officer accountable for the AML programme and for filing with the FCIS as Lithuania’s financial intelligence unit.
AML / CFT programme
Full policies for customer due diligence, transaction monitoring, sanctions screening, chain analytics and Travel Rule handling for crypto transfers.
Governance and IT controls
Documented internal controls, business continuity, cybersecurity, custody segregation and complaints handling, sized to the services you provide.
Capital-adequacy projections
The Bank of Lithuania expects prudential tables, a three-year financial plan and clear assumptions behind your own-funds calculation.
Several of these gate the whole application. A weak KYB and ownership map, an absent MLRO, or undersized capital are the usual reasons a file stalls. See our glossary entries on the MLRO role, AML and source of funds for what regulators actually look for.
How much capital a Lithuanian CASP needs
MiCA sets minimum own funds by service class in Annex IV. You must hold the higher of the fixed minimum for your class or a quarter of your fixed overheads, on an ongoing basis, not just at launch.
| Class | Minimum capital | Services covered |
|---|---|---|
| Class 1 | EUR 50,000 | Reception and transmission of orders, execution of orders, placing of crypto-assets, and providing advice or portfolio management on crypto-assets. |
| Class 2 | EUR 125,000 | Custody and administration of crypto-assets on behalf of clients, and exchange of crypto-assets for funds or for other crypto-assets. This is the tier most exchanges and custodians sit in. |
| Class 3 | EUR 150,000 | Operating a trading platform for crypto-assets. The highest minimum-capital class, reflecting the systemic role of a venue that matches third-party orders. |
Class definitions follow MiCA Annex IV and apply EU-wide, not just in Lithuania. Applying for the narrowest class that fits your model keeps your capital lock as low as the rules allow.
Process and timeline
End to end, a Lithuanian CASP authorisation realistically takes six to twelve months. The clock is driven as much by how complete your file is on submission as by the regulator.
Scope and structure
Fix the service class, incorporate the UAB, install substance (director, office, MLRO) and size the capital. Typically 1–2 months.
Build the file
Draft the AML/CFT framework, governance manuals, IT and custody policies, business plan and prudential projections. Usually 2–3 months.
Submit and pre-check
File through the Bank of Lithuania’s electronic single window; expect a completeness check before the clock formally starts.
Regulator review
The Bank of Lithuania assesses the application within a statutory window and issues questions. Substantive review commonly runs 3–6 months.
Authorisation and passport
On grant, you hold a MiCA CASP licence and can notify other member states to passport services across the EU and EEA.
Lithuania CASP cost breakdown
Beyond the regulatory capital, which is locked rather than spent, the real first-year cost sits in structuring, the application file and ongoing local substance. Bands below are indicative for 2026.
| Cost item | Indicative band |
|---|---|
| Regulatory capital (locked, not spent) | EUR 50,000 – 150,000 |
| Incorporation and legal structuring | EUR 5,000 – 15,000 |
| Application preparation and advisory | EUR 20,000 – 60,000 |
| Local substance (director, office, MLRO) per year | EUR 30,000 – 80,000 |
| AML tooling, chain analytics, audit | EUR 15,000 – 40,000+ |
Ranges are broad on purpose. Actual cost depends on service class, whether you build substance in-house or buy it, and the complexity of your model. Use these as a planning envelope, not a quote.
To model your own case against service class and volume, try our crypto licence cost calculator.
Can you actually get banked with a Lithuanian CASP licence?
This is the question most licensing pages skip. A CASP authorisation makes you regulated; it does not, by itself, open a bank account or a fiat rail. The two are separate processes.
A licence proves you passed a regulator’s test. A bank or EMI then runs its own onboarding, and many still treat crypto flow with caution regardless of your CASP status. The point where this bites is the fiat on/off-ramp, exactly where de-risking hits hardest. A licence with nowhere to bank is a licence you cannot operate.
BankMyCapital is not a bank, a PSP or a law firm, and it does not issue licences. What we do is advise on and place the banking that a CASP licence needs to become a working business, sequencing the fiat rails alongside the authorisation rather than hoping they appear after. That means matching your file to providers who actually onboard MiCA-era crypto firms, with the AML, chain analytics and Travel Rule posture they expect to see.
See how the banking side fits together on our banking service and our crypto industry page.
Lithuania vs Malta, Estonia and offshore
Every EU CASP passports the same way, so the choice between hubs is really about cost, review culture and local ecosystem. Here is how Lithuania sits.
| Jurisdiction | Regulator | Profile | In short |
|---|---|---|---|
| Lithuania | Bank of Lithuania | Mid-cost EU hub with a large fintech base and an electronic single-window application. Was the volume VASP jurisdiction pre-MiCA. | Balanced choice on cost and speed |
| Malta | MFSA | First mover on crypto rules, strong institutional signalling, but generally higher cost and a heavier, longer review. | Prestige, higher cost |
| Estonia | Finantsinspektsioon | Also a former high-volume VASP hub that tightened sharply; CASP authorisation there is now demanding on substance and capital. | Similar Baltic route, stricter of late |
| Offshore (e.g. Seychelles) | National FSA | Cheaper and faster, but no EU passport and weaker recognition. A different instrument for a different market. | No EU access |
Only offshore sits outside the EU passport. Between the EU hubs, the differentiator is cost and review culture, not market access. An offshore licence and an EU CASP can also be run together for a global footprint.
If the EU passport is not your priority, compare the offshore crypto licence route instead.
Lithuania crypto licence FAQ
Can I still get the old cheap Lithuanian crypto licence?
No. The registered-VASP route supervised via the FCIS, once Lithuania’s fast and low-cost option, has been superseded by MiCA. New crypto businesses now need a full CASP authorisation from the Bank of Lithuania, with real capital, substance and compliance. There is no light-touch registration left to obtain.
How much capital do I need for a Lithuanian CASP licence?
Minimum own funds are set by MiCA Annex IV and depend on your service class: EUR 50,000 for Class 1 (advice, order handling), EUR 125,000 for Class 2 (custody and exchange) and EUR 150,000 for Class 3 (operating a trading platform). You must hold at least this on an ongoing basis, or a quarter of your fixed overheads if that is higher.
How long does a Lithuanian CASP licence take?
Plan for roughly 6 to 12 months end to end. Structuring and building the file typically takes 3 to 5 months, and the Bank of Lithuania’s substantive review commonly runs another 3 to 6 months after a complete submission. Timelines vary with service class, file quality and regulator questions, so treat any single figure as a range.
Does a Lithuanian CASP licence passport across the EU?
Yes. A CASP authorisation granted by the Bank of Lithuania passports across all 27 EU member states plus the EEA under MiCA’s single-licence model, once you notify the relevant national authorities. That is the core reason to license in an EU jurisdiction rather than offshore if your customers are European.
Do I need a local director and office in Lithuania?
Yes. The Bank of Lithuania expects genuine substance: at least one Lithuania-resident director, a real registered office, day-to-day management in the jurisdiction and a resident, fit-and-proper MLRO. A shelf company with no local presence will not pass the suitability and governance assessment.
Will a Lithuanian CASP licence get me a bank account?
Not on its own. A CASP licence proves you are regulated, but banks and EMIs run their own onboarding and many remain cautious on crypto. Banking has to be arranged in parallel with the licence, matched to the right provider. That sequencing is exactly where BankMyCapital adds value.
License in Lithuania, and know it will bank
A Lithuanian CASP licence is a credible, EU-passportable route for a crypto business serious about the European market. Paired with the right banking, arranged in parallel, it becomes an operating platform rather than a certificate in a drawer.
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