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Over the years, Cyprus has built a reputation as a true “hidden gem” for crypto companies, thanks to its highly attractive, business-friendly legal frameworks. With fewer than 20 crypto businesses granted a MiCA license in Cyprus so far, early license holders get a rare first-mover advantage by being able to meet the jurisdiction’s stringent compliance standards.
Under the Markets in Crypto-Assets (MiCA) regulation, the legacy VASP authorization structure has been replaced by the Crypto-Asset Service Provider (CASP) regime, providing a unified legal basis to operate across all 27 EU Member States. As Cyprus’s grandfathering period ends on July 1, 2026, crypto businesses will have to apply for a MiCA license, while legacy authorization will no longer suffice.
In this context, Cyprus offers a practical choice for entering the EU crypto market, combining the English common law framework with a business-friendly tax environment. Entering the European market now means preparing for full MiCA authorization, and Inteliumlaw’s crypto licensing team provides tailored support during each step of the application process, from initial document filing to Cyprus CASP license issuance.
Securing a Cyprus MiCA license offers several clear advantages, including:
| | Lithuania | Cyprus | Czech Republic |
|---|---|---|---|
| Competent authority and AML Supervisor | Bank of Lithuania, the Financial Crime Investigation Service (FNTT) | Central Bank of Cyprus (CBC) together with the Cyprus Securities and Exchange Commission (CySEC), Cyprus FIU (MOKAS) | Czech National Bank (ČNB), (FAÚ) – the Czech FIU under the Ministry of Finance |
| MiCA Transition Period Deadline | December 31, 2025 | July 1, 2026 | July 1, 2026 |
| Total Cost | Reach us for details | Reach us for details | Reach us for details |
| Time to Obtain | 6 to 12 months | 6 to 12 months | 6 to 12 months |
| Application Fee | €2,425 paid on approval to Bank of Lithuania | €10,000 | CZK 10 000 (€415) |
| Maintenance Fee(s) | Not specified (could be communicated separately) | Annual supervisory fees | Not specified (could be communicated separately) |
| Corporate Tax | 6 to 17% based on the company size | 15% | 21% |
| MiCA+ Requirements | Strong operational center in the country, local language filing; prior authorisation of each manager by the Bank of Lithuania; mandatory board-level governance; statutory audit for all CASPs; enhanced auditor reporting obligations; | Enhanced transition evidence + continued AML/CASP-register obligations until MiCA licence; CySEC pre-assessment (pre-filing) route; ongoing AML staffing (AMLCO + internal audit) per Cyprus AML law/CySEC CASP directive; Travel Rule applies during transition. | Local language filing; extensive CNB supervisory powers, including interim transfer restrictions and asset freezes; enhanced public transparency through CNB-maintained registers; statutory protection of entrusted client assets with insolvency segregation and mandatory return mechanics; annual external auditor verification of safeguarding measures for custody providers |
The following overview outlines the core requirements for obtaining a CASP license in Cyprus, which typically shape whether an application aligns with the local regulator's expectations.
A Cyprus-based company, a minimum of two directors with effective management in Cyprus, and an established operational address are the standard requirements for granting a MiCA license in Cyprus to any applicant.
In practice, a coherent and fully complete dossier is what keeps the Cyprus crypto license process without any unnecessary delays.
The regulator typically expects the MiCA license applicant to have a comprehensive internal policy framework covering audit-style risk controls, outsourcing supervision, conflicts, complaint management, business continuity, incident response, and IT security.
Be prepared to prove the reputation, competence, experience & integrity of UBOs, directors, and senior management in the form of detailed questionnaires and supporting documentation, as set out under CySEC’s CASP framework.
The applicable minimum capital requirement depends on the crypto services a business intends to offer to the public, with MiCA license authorization limited to the relevant service Classes (I-III), and ranges between EUR 50,000 and EUR 150,000.
Cyprus CASP license holders are subject to AML regulation, expected to perform customer due diligence, conduct continuous monitoring, file suspicious reports, run risk assessments, and ensure effective AML governance.
A Cyprus-based company, a minimum of two directors with effective management in Cyprus, and an established operational address are the standard requirements for granting a MiCA license in Cyprus to any applicant.
In practice, a coherent and fully complete dossier is what keeps the Cyprus crypto license process without any unnecessary delays.
The regulator typically expects the MiCA license applicant to have a comprehensive internal policy framework covering audit-style risk controls, outsourcing supervision, conflicts, complaint management, business continuity, incident response, and IT security.
Be prepared to prove the reputation, competence, experience & integrity of UBOs, directors, and senior management in the form of detailed questionnaires and supporting documentation, as set out under CySEC’s CASP framework.
The applicable minimum capital requirement depends on the crypto services a business intends to offer to the public, with MiCA license authorization limited to the relevant service Classes (I-III), and ranges between EUR 50,000 and EUR 150,000.
Cyprus CASP license holders are subject to AML regulation, expected to perform customer due diligence, conduct continuous monitoring, file suspicious reports, run risk assessments, and ensure effective AML governance.
The process for obtaining a Cyprus crypto license is structured under the EU Markets in Crypto-Assets Regulation (MiCA) and is supervised by CySEC alongside parallel AML/CFT regulation under Cyprus law.
Overall, the process is expected to take from 6 to 12 months, depending on the project complexity and the regulator’s responsiveness.
First, the applicant must have a Cyprus company with its head office and genuine functioning substance in the country and must provide the required paid-up share capital of between EUR 50,000 and EUR 150,000, depending on the CASP license class.
The next step is to produce a complete MiCA-compliant application dossier, including a 3-year business plan, financial projections, governance arrangements, and descriptions of IT systems and operational processes, among others.
The applicant must implement internal policies on AML/CFT, risk management, outsourced services, conflicts of interest, complaints handling, and business continuity.
The MiCA white paper must be developed in full alignment with the requirements of the relevant annexes (I-III).
From the date of submission of the application form and the application fee of €10,000, CySEC conducts a fit-and-proper and prudential review.
Once approved, the crypto firm becomes a CASP and is thereafter subject to ongoing reporting, capital, and compliance requirements.
Getting the CASP license in Cyprus may be quite demanding and heavily compliance-oriented. That's why a successful outcome can be achieved only when experienced legal counsel leads the application end-to-end, building a compliant structure with meticulous care.
At Inteliumlaw, our specialists provide full-cycle support with obtaining a Cyprus crypto license – from setting up a company to securing final approval. Inteliumlaw manages the full communication process with the Cyprus licensing authority, streamlining every step and remaining closely involved throughout every stage of the application.
Contact Inteliumlaw for professional support in obtaining a Cyprus crypto license and entering one of the world’s most sought-after and biggest crypto markets.
Through years of supporting businesses’ sustainable growth, Inteliumlaw has built a robust network of partners ranging from software developers and gaming technology providers to operators and white-label businesses – all designed to offer our clients immediate access to industry-leading solutions.
Managing Partner at Inteliumlaw
Languages: English/Ukrainian
Yes, provision of any crypto-related services is legal and regulated in Cyprus. The country applies MiCA, together with CySEC’s local supervisory requirements and a national register operating under AML/CFT oversight.
The price of the MiCA license in Cyprus consists of the application fee of EUR 10,000 paid to the regulator (renewable every year for EUR 5,000), minimum share capital (up to EUR 150,000, depending on the type of services conducted), and legal fees.
Obtaining a Cyprus CASP license means submitting MiCA-compliant documentation, clearing fit-and-proper checks, and sustaining full AML/CFT and Travel Rule compliance, among others.
A CASP must maintain a genuine physical presence and sufficient local infrastructure to enable effective CySEC supervision. The CASP must be directed by at least two directors responsible for managing the company’s business activities. CySEC, as a matter of supervision practice, may expect enhanced governance arrangements, including the appointment of additional non-executive members for CASP.
The effective supervision of key control frameworks, especially AML/CFT compliance, must be exercised from Cyprus. While certain tasks may be delegated to external providers, the CASP must ensure that full local oversight and accountability are maintained.
Historically, a VASP license was often issued within a few months once a complete application was filed; under MiCA, member-state-specific formal review timelines apply, but the typical time to get a CASP license ranges from 6 to 12 months, depending on the document readiness, the application quality, and the project's complexity.
Yes, non-resident founders and shareholders can apply to obtain a Cyprus crypto license, provided they meet CySEC and MiCA fit-and-proper expectations and demonstrate effective governance, AML controls, and operational readiness. However, applicants are expected to maintain local substance in their EU home state.
From January 1, 2026, the corporate tax rate in Cyprus is 15%. Profits from selling, swapping, gifting, or spending crypto face a flat 8% tax under the Income Tax (Amending) (No. 4) Law of 2025; mining is taxed as business income. The IP Box (achievable rate around 3-5%) excludes crypto/trading. Crypto-to-fiat exchanges are VAT-exempt. Non-doms are exempt from SDC.
Under MiCA, services are uniformly classified at the EU level, and the crypto license in Cyprus is service-scope specific. A crypto firm providing investment advice on crypto-assets, providing custody and administration of crypto-assets on behalf of clients, or running a trading platform for crypto-assets will need to apply for a different CASP license class.
Inteliumlaw supports businesses end-to-end with a Cyprus crypto license application. From defining the optimal structure to preparing the full CySEC-ready documentation pack, our lawyers manage the whole process hands-on. As soon as the CASP license is granted, we offer ongoing legal support services to help you remain compliant amid ever-changing regulations.
The accumulated experience and tracking of future changes in this area allow us to be proactive
for our clients and develop the most adapted business structures to modern conditions.
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