The most credible EU-regulated path for crypto exchanges, wallets, and brokers in 2026. Lithuania CASP authorization grants an EU passport across 27 member states, regulated by the Bank of Lithuania. €125,000 minimum capital, 4–8 month timeline, $50,000–$120,000 setup.
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MiCA defines three CASP classes by service scope and capital requirement. Choose the class that matches your actual activity — Bank of Lithuania scrutinizes any mismatch.
Lighter authorization for advisory and portfolio services. Suitable for crypto investment advisors, robo-advisors, and discretionary portfolio managers — not for exchanges or custodians.
The most common class for crypto exchanges, brokers, and custodians. Covers Class 1 services plus custody, exchange, and order execution. Most international crypto operators target Class 2.
Highest authorization tier — required for operating a multilateral trading platform (MTF/order book exchange). All Class 2 services plus running the trading platform itself.
Lithuania has emerged as the dominant EU jurisdiction for crypto authorization. Bank of Lithuania has the clearest published guidance, the deepest crypto-friendly banking ecosystem, and the most experience with crypto applications.
One Lithuanian CASP authorization grants access to 27 EU member states plus EEA. No re-authorization needed; simple notification process to receiving competent authorities.
Lietuvos Bankas has processed more crypto authorizations than any other EU regulator. Clear guidance, predictable timelines, English-language interaction with applicants.
Lithuania hosts Paysera, Verse, ConnectPay, Genome, and other EMIs that bank crypto businesses. Banking onboarding is significantly easier than in legacy EU jurisdictions.
Lithuanian counsel rates and operational costs are 30–50% below Germany, France, Ireland, or Malta — keeping CASP setup at $50K–$120K vs $100K–$250K in legacy EU jurisdictions.
A four-stage process from initial scoping to operational EU-passport CASP. Total timeline: 4–8 months.
30-min call to confirm Lithuania CASP is the right fit. Service-class selection (Class 1, 2, 3). Engagement letter and fixed-fee quote.
Form Lithuanian UAB (€2,500 share capital). Open Lithuanian bank account. Deposit €50K–€150K paid-up capital matching CASP class. 4–6 weeks.
Prepare and submit CASP application to Bank of Lithuania: business plan, financial projections, AML program, key personnel CVs, IT and security framework. 6–10 weeks.
Bank of Lithuania reviews under MiCA Article 62: 3 months completeness check + extended substantive review. Total: 20–25 weeks. Authorization issued, EU passport activated.
The three jurisdictions most international crypto founders compare. Lithuania CASP is the most expensive but the only one with EU passport.
| Factor | Lithuania CASP | Panama | Canada MSB |
|---|---|---|---|
| Setup cost | $50,000–$120,000 | $15,000–$45,000 | $8,000–$25,000 |
| Min. paid-up capital | €50,000–€150,000 | $0 | $0 |
| Government fee | €5,000–€10,000 | $300/year | $0 |
| Timeline | 4–8 months | 6–12 weeks | 3–6 weeks |
| EU client passport | Yes (27 countries) | No | No |
| Tax on profits | 15% (or 5% small entity) | 0% on foreign-source | ~26.5% |
| Annual maintenance | $20,000–$50,000 | $5,000–$15,000 | $5,000–$15,000 |
| Best for | EU retail crypto, MiCA passport, regulated trust | Offshore-first, LatAm/Asia, HNW | NA crypto exchanges, FX, fast launch |
MiCA introduced new vocabulary that's now standard across EU crypto regulation. These are the terms you'll encounter most often.
Vilnius hosts the largest cluster of EMIs and crypto businesses in the EU. Lithuania has issued more EMI licenses since 2018 than any other EU member state, creating a mature ecosystem of crypto-friendly banking partners.
The most common questions from founders considering Lithuania for their EU-regulated crypto company in 2026.
Lithuania CASP (MiCA) authorization costs $50,000–$120,000 in year one all-in: €5,000–€10,000 Bank of Lithuania license fee, €15,000–€30,000 AML/KYC program development, €10,000–€25,000 legal counsel for application, €5,000–€10,000 Lithuanian UAB formation, plus €125,000 minimum paid-up capital that must be deposited (not consumed). Annual maintenance runs $20,000–$50,000. Full cost breakdown →
MiCA sets three CASP classes with different capital requirements: Class 1 — €50,000 (advice, portfolio management); Class 2 — €125,000 (Class 1 + custody, exchange, execution); Class 3 — €150,000 (Class 2 + operation of trading platform). Most international crypto exchanges target Class 2 or Class 3. Capital must be paid up before authorization is granted and maintained throughout operations.
Lithuania CASP authorization takes 4–8 months end-to-end: 1–2 months for application preparation (UAB formation, AML program, business plan, financial projections), then 20–25 weeks for Bank of Lithuania review under MiCA Article 62. Existing Lithuanian VASPs have until 30 June 2026 to transition to CASP under the grandfathering provisions.
Yes. Once authorized as a CASP under MiCA, a Lithuanian crypto company can passport its services across all 27 EU member states plus Iceland, Liechtenstein, and Norway (EEA). The passport is granted via notification to the Bank of Lithuania, which informs receiving competent authorities. This is the primary value proposition vs Panama or Canada — direct EU market access from a single authorization.
30 June 2026. MiCA enforcement began on 30 December 2024 for CASPs. Lithuanian VASPs registered under the pre-MiCA framework have an 18-month grandfathering period to obtain CASP authorization. After 30 June 2026, all Lithuanian crypto businesses must hold CASP authorization or cease operations. Many Lithuanian VASPs are currently in the transition process.
Lithuania has become the dominant Baltic VASP jurisdiction in 2026. Estonia tightened its VASP regime significantly in 2022–2024, requiring expensive in-country substance and triggering many operators to migrate to Lithuania. Estonia still has VASPs, but Lithuania is preferred for new authorizations because of: (1) clearer Bank of Lithuania guidance, (2) more flexible MiCA transition pathway, (3) deeper crypto-friendly banking ecosystem (Paysera, Verse, ConnectPay).
For new authorizations, no — since 30 December 2024, only CASP authorization under MiCA is available for new applicants. The pre-MiCA Lithuania VASP regime is closed to new entrants. Existing Lithuanian VASPs registered before 30 December 2024 can continue under the grandfathering provisions until 30 June 2026.
A Lithuanian UAB (Uždaroji Akcinė Bendrovė — private limited company) is the standard corporate form. UAB requires €2,500 minimum share capital for incorporation, but CASP authorization separately requires €50,000–€150,000 paid-up capital depending on service class. UAB formation takes 1–2 weeks; CASP application is then submitted with the UAB as the applicant.
Mardo founded X24Consulting OÜ in Tallinn, Estonia to help international crypto founders navigate the maze of jurisdictional licensing. Over 8 years he has set up 200+ crypto, fintech, and financial-services entities across 15+ jurisdictions — Lithuania VASP/CASP, Panama, Canada MSB, Estonia VASP, Dubai VARA, Switzerland VQF, Cyprus CASP, BVI, Singapore PSA, El Salvador BSP and more.
He works directly with every client — no junior associates, no boilerplate. The first call is always with him.
Connect on LinkedIn →30-minute strategy call to confirm Lithuania CASP is the right fit. No obligation. We'll also tell you honestly if Panama, Canada, or another EU jurisdiction would suit you better.
mardo@consulting24.co · Powered by Consulting24 · 8+ years in EU crypto licensing