Question 1

Which EU country is fastest for a CASP license?

Accepted Answer

Lithuania (Bank of Lithuania), Estonia (Finantsinspektsioon), and Cyprus (CySEC) typically process CASP applications in 3–6 months; Liechtenstein (FMA) often runs 3–9 months depending on token classification. France (AMF), Malta (MFSA), Latvia, Slovakia, Slovenia, and Iceland run 4–8 months. Germany (BaFin) and Austria (FMA) are typically longer, often 6–11 months and 12–18 months respectively. This covers the NCA review period after declaration of completeness.

Question 2

Which EU country has the lowest CASP license fees?

Accepted Answer

Lithuania has the lowest indicative NCA fees (€3,000–€20,000), followed by Estonia, Latvia, and Slovakia (€5,000–€25,000). Germany and Luxembourg are at the high end (€25,000–€100,000+). Document preparation typically exceeds NCA fees and can be reduced 60–80% with Micahub.

Question 3

Can a CASP license from Lithuania or Cyprus be used across the EU?

Accepted Answer

Yes. A MiCA CASP authorization from any EEA member state gives full EU passporting rights across all 30 EEA countries. You notify your home NCA and the host NCA; no separate authorization per country is needed.

Question 4

What should I consider when choosing a jurisdiction for a CASP license?

Accepted Answer

Key factors: (1) Timeline: 3–6 months vs 6–12 months; (2) NCA fees: from €3k to €100k+; (3) Language: English documentation accepted in Lithuania, Ireland, Malta, Cyprus; (4) Existing registrations: VASP-registered entities in France, Germany, Netherlands have expedited paths; (5) Substance: where management and operations are located.