Lithuania remains one of the most popular EU jurisdictions for launching crypto businesses.It offers a clear registration regime for virtual asset exchange and custody providers, supported by established regulatory practice. With MiCA entering into force for CASPs from 30 December 2024, all new companies must obtain authorization to operate, while existing providers can continue under the transitional period until 1 January 2026. Before MiCA, Lithuania applied a registration model through the Centre of Registers, which allowed companies to operate legally but was not equivalent to full licensing. At Key2Law, we guide clients through every step: from incorporation to licensing and bank account setup.
Here’s what you need to know about the process:
Clear and straightforward licensing route for crypto businesses
Company setup and licensing take 60–90 business days
Final cost depends on business model and structure
Trusted EU jurisdiction with efficient regulatory procedures
Lithuania is one of the most MiCA-ready EU jurisdictions, with its crypto regulatory infrastructure one of the first MiCA-ready EU jurisdictions. The Act on Crypto-Asset Markets, effective from July 11, 2024, transferred CASP licensing to the Bank of Lithuania and introduced a clear transition path: companies can operate under legacy VASP registrations until 1 January 2026 but must apply for a MiCA-aligned CASP license to continue thereafter. Lithuania offers full EU passporting, competitive compliance costs, and a digital-forward regulatory environment ideal for innovative crypto businesses.
Early alignment with MiCA and transparent transitional rules through 2025
Direct EU passporting for CASPs once licensed, enabling pan‑EU operations
Fully digital application and oversight via the Bank of Lithuania and FCIS platforms
Competitive corporate ecosystem with low setup costs, regional tech talent, and familiar EU tax regime
Starting in 2025, Lithuania will fully transition to a single Crypto-Asset Service Provider (CASP) license under the MiCA regulation. This framework introduces a unified licensing regime by replacing the former VASP categories (VCESP and VCWSP) and covering all key crypto-asset activities. The license is issued by the Bank of Lithuania, with the FCIS involved in AML and fit & proper checks, ensuring unified rules for accessing the EU market.
Crypto-Asset Service Provider (CASP) license
The CASP license is mandatory for all companies offering exchange services (crypto-to-fiat and crypto-to-crypto), asset custody, staking, or transfer of digital assets. The licensing process is handled remotely via the Bank of Lithuania, with capital requirements depending on the range of services provided. The average processing time is 60–90 business days, making Lithuania one of the fastest jurisdictions in the EU to obtain authorisation.
Lithuania cryptolicense cost
The total cost of licensing in Lithuania depends on the scope of services, required share capital, and documentation readiness. Fees cover legal structuring, UAB incorporation, business plan and AML/KYC package, and liaison with the Bank of Lithuania and FCIS.
Basic Package
Recommended for companies launching exchange or custody services. Reflects MiCA capital requirements and documentation standards.
Drafting incorporation documents and registering a UAB
Developing AML/CDD and internal compliance policies
Preparing business plan and application dossier for the Bank of Lithuania
Liaising with the Bank of Lithuania during submission
Preparing for corporate account setup
Advanced Package
Ideal for those applying under full MiCA CASP regime: exchange, custody, advisory, staking, etc.
Business model structuring aligned with MiCA classification
Comprehensive AML/KYC/CFT procedure development
Internal governance design and risk management setup
Ongoing audit readiness and regulatory reporting support
Full representation in communications with Bank of Lithuania and the regulator
Requirements for a company to get a cryptocurrency licence
To obtain a CASP licence under MiCA, Lithuanian companies must satisfy strict regulatory criteria enforced by the Bank of Lithuania. Applicants are required to maintain a Lithuanian legal entity with substantive presence, ensure share capital is deposited with an EU credit institution, and have AML/KYC policies aligned with local laws. Appointment of a resident AML officer is mandatory. The corporate structure and ownership must be transparent, all key personnel must have clean legal records, and the business model must be viable and supported by a detailed business plan. Documentation is submitted to Bank of Lithuania for a comprehensive evaluation covering both financial resilience and compliance systems.
Key requirements include:
Minimum share capital from €50,000 to €150,000, depending on CASP services
Resident AML officer with impeccable reputation and formal agreement
Fully developed AML/KYC/CFT procedures and internal risk controls
Fit & proper assessment for directors, shareholders and AML officer
Business plan, activity description, ownership structure and fund source disclosure
Process of getting crypto license in Lithuania
The process of obtaining a CASP authorisation under MiCA is well-defined under MiCA and involves clear regulatory steps. Applications are submitted to the Bank of Lithuania (BoL), and the unified licensing regime ends the previous dual-VASP system. The transitional period for legacy VASP entities has been extended to 1 January 2026, giving businesses more time to adapt to full CASP licensing requirements.
Stage 1: Pre-application planning
This stage lays the foundation for the entire licensing process. Companies define their intended CASP service scope, select the most appropriate corporate structure, and ensure that governance, compliance, and IT systems are in line with MiCA and Lithuanian requirements. Thorough preparation at this point helps avoid delays later.
Define CASP service scope and business model
Prepare AML/CFT policies, KYC procedures, and risk framework
Develop IT security, cyber-resilience, and data protection measures
Build a 3-year business plan with financial projections
Stage 2: Company incorporation
If a legal entity has not yet been established in Lithuania, this step ensures the applicant meets the jurisdiction’s incorporation and substance requirements. The company must be registered locally, appoint mandatory officers, and secure basic operational readiness before filing the license application.
Incorporate a UAB and register it with the Centre of Registers
Obtain registration and tax codes for the entity
Appoint directors, a resident AML officer, a compliance officer, and an ICT/security officer
Open an initial bank or EMI account for operational use
Stage 3: Filing the CASP application
At this point, the full application package is submitted to the Bank of Lithuania via its digital platform, including all required annexes, policies, and supporting documentation. The BoL and FCIS will carry out both formal and substantive reviews, potentially requesting clarifications or additional evidence.
Submit application and annexes via the BoL portal
Respond promptly to regulator queries and update documents as needed
Undergo fit-and-proper assessments and background checks for key persons
Demonstrate sufficient capital and safeguarding of client assets
Stage 4: Decision and operational launch
Once the application is approved, the company is entered into the public CASP register and can commence operations under MiCA supervision. The final stage involves finalising operational setups, establishing banking and payment channels, and implementing ongoing compliance obligations.
Receive official authorisation and registry entry
Finalise banking and EMI arrangements for client transactions
Activate onboarding and transaction monitoring systems
Set up ongoing reporting and compliance update processes
Why register cryptolicense in Lithuania?
Lithuania remains one of the most attractive destinations for launching a crypto business in the EU. The regulatory framework is clear, the licensing procedure is structured and comprehensive, and European banks and payment providers widely accept the license. It enables companies to start operating quickly, with a flexible structure and clear capital and compliance requirements.
Fast and predictable licensing process
Unlike in many other EU jurisdictions, crypto companies in Lithuania can be fully licensed within 4–6 month. Registration is straightforward and handled entirely online. There’s no discretionary approval stage — once all conditions are met, the license is granted through formal registration. This speeds up market entry and allows better project planning.
Fully remote incorporation and licensing
Lithuanian crypto companies can be established and licensed without physical presence. All documentation is submitted online, and no in-person visits by shareholders or directors are required. Bank account opening may be arranged remotely through EMI partners, but is subject to individual compliance checks. This setup suits startups and international structures.
Flexible setup with low ongoing costs
Operating a crypto company in Lithuania is significantly more affordable than in most EU countries. Annual administrative costs for a UAB (including accounting, address, and compliance) are 2–3 times lower than in Estonia or Cyprus. MiCA requires substantive presence in Lithuania, meaning companies must have local officers (AML, compliance) and adequate staff to support operations.
MiCA-ready structure and regulation
Lithuania’s licensing regime already aligns closely with MiCA requirements. Companies operate with resident AML officers, documented risk policies, and detailed business plans. This facilitates a smooth transition to full CASP authorization without restructuring or relocating.
Why choose Key2Law for cryptocurrency licensing in Lithuania
The expert team at Key2Law regularly advises clients on all aspects of crypto licensing in Lithuania: from company formation and license submission to compliance and banking. We understand the expectations of the Bank of Lithuania and help shape your business model to align with regulatory requirements. Our focus is on achieving results efficiently and transparently, with close attention to every detail of the licensing process.
Specialized experience in Lithuanian crypto regulation
We know what triggers questions or rejections from Bank of Lithuania and address risks early. All documentation and internal procedures are developed not just by the letter of the law, but also based on practical regulator expectations.
Remote process without delays or travel
Applications can be submitted remotely without mandatory travel to Lithuania. However, MiCA requires substantive presence, including a resident AML officer, local directors, and real business operations. We handle document filings, internal setup, and communication with the regulator and local banks.
Reliable banking access and support
We maintain working relationships with financial institutions that onboard licensed Lithuanian crypto companies. We help prepare your banking profile, explain your transaction model, and support you through onboarding.
Ready-to-use compliance and policy templates
Our internal document templates, including AML, KYC, and internal controls, are fully compliant with Lithuanian and EU standards. We tailor them to your business, saving time and minimizing legal risks.
Ongoing support beyond licensing
We continue assisting clients even after the license is granted: with regulatory reporting, compliance updates, and the upcoming MiCA transition. You'll always have legal backup when facing regulatory obligations.
Ready to move forward? Ask a question to a compliance expert
We’ll help assess your project, recommend the right license type, and guide you through the next steps. If you're considering Lithuania for your crypto business, start with a consultation and get a tailored solution.
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