Estonia Crypto License (CASP) 2026 — EU-Wide Validity

A crypto license in Estonia, known from 2025 as a CASP (Crypto-Asset Service Provider) license, legally allows companies to operate cryptocurrency-related activities. This includes exchange services (crypto to fiat, crypto to crypto), wallet services, transfers, and crypto consulting, all under Estonia’s and EU regulations.

Key requirements include: minimum share capital of €100,000–€250,000 depending on services; a real office in Estonia; at least two board members with relevant experience; a qualified compliance officer and MLRO; documented AML/KYC procedures; and a detailed two-year business plan. Full requirements are set by the FSA under MiCA and the Crypto Asset Market Act.

The state application fee is €10,000, non-refundable. Total setup costs — including share capital, office rental, staff, legal support, and annual audit — typically range from €150,000 to €300,000+ depending on your structure and service scope.

Company registration takes 1–2 weeks. Opening a bank account and depositing share capital typically takes 2–6 weeks. The FSA licensing review itself takes 3–6 months, depending on documentation completeness and regulatory workload.

A CASP license covers: fiat-crypto and crypto-crypto exchange, wallet custody and private key management, virtual currency transfers, token issuance, and third-party asset management. All activities must comply with MiCA and Estonian regulation.

Yes — ready-made Estonian companies with an existing crypto license are available and can reduce setup time significantly. However, thorough legal and compliance due diligence is essential to confirm the license is valid, in good standing with the FSA, and free of legacy liabilities.

Licensed CASPs must: maintain required share capital; keep a physical office in Estonia; employ qualified local compliance staff; submit regular reports to the FSA; conduct annual audits; and keep AML/KYC policies current with MiCA standards.

Company registration and most administrative processes can be handled remotely, including through Estonia’s e-Residency program. However, at least one director and the compliance officer are typically required to be locally based for license validity.

If your company trades crypto exclusively with its own funds and does not provide services to third parties, licensing requirements may not apply. However, the line between proprietary and client-facing activity requires careful legal assessment — contact us for a specific evaluation.

Yes. An Estonian CASP license is MiCA-compliant and grants EU-wide passporting rights, allowing you to offer crypto asset services across all 27 EU member states without obtaining separate licenses in each country.

Estonia replaced its old VASP (Virtual Asset Service Provider) framework with the new CASP framework aligned with the EU’s MiCA regulation. The differences are significant. Capital requirements are now higher — €100,000 to €250,000 depending on the specific activity. A physical office in Estonia is mandatory (virtual offices are no longer accepted by the FIU). At least one qualified local staff member must be physically present, and a comprehensive AML/KYC program with a full-time compliance officer is required. Companies holding old VASP licenses had to migrate to the CASP framework by the MiCA transition deadline. The trade-off: CASP licenses issued under the new framework carry EU-wide passporting rights, meaning you can legally serve customers in all 27 EU member states on a single Estonian license. For businesses targeting the European market, this is the single most cost-efficient path to EU-wide regulatory coverage.

The total first-year investment for an Estonian CASP license typically ranges from €40,000 to €80,000, depending on your structure and whether you hire local management or bring your own. The breakdown: company registration in Estonia runs €500–€1,000. The state fee for the FIU (Financial Intelligence Unit) application is €3,300 — this is a non-refundable government fee regardless of outcome. A physical office in Estonia is mandatory and costs approximately €500–€1,500 per month depending on Tallinn vs. smaller cities. You will need a qualified compliance officer physically based in Estonia — market rate is €3,000–€5,000 per month. Minimum share capital is €100,000 (must be paid in, not just committed). Legarithm’s full licensing package starts from €5,500, covering document preparation, FIU communication, AML policy drafting, and ongoing support through approval. We can also help source local management and office space, which is the most common bottleneck for international applicants.

Yes — you personally do not need to be in Estonia at any point. Estonia’s e-Residency program allows you to manage the company, sign documents digitally, and handle compliance filings entirely remotely. However, the company itself must have real substance in Estonia. The FIU is strict about this: a virtual office or a registered address with a forwarding service is not sufficient. You need a genuine physical office space, a local board member or manager with relevant financial/compliance qualifications, and at least one key compliance person physically based in Estonia who can be contacted by the regulator. Legarithm specifically helps international clients solve this substance requirement — we have vetted local management partners and can assist with office space in Tallinn. This is the part of the application that most commonly causes delays when clients try to handle it independently.