EU-passportable MiCA CASP from the FSC
Bulgaria Crypto Licence
Bulgaria offers a cost-effective, serious EU crypto licence. Its Financial Supervision Commission runs a fast statutory clock (40 working days to assess a complete file) with state licence fees of €5,113 to €30,678 by class, while still delivering a full MiCA CASP authorisation passportable across all 27 member states. Vantegris builds the FSC file, the AML and DORA framework, and the banking.
What is the Bulgaria crypto licence?
Bulgaria has positioned itself as the value option for a full EU crypto licence. The Financial Supervision Commission (FSC) is the competent authority for Crypto-Asset Service Provider (CASP) authorisation under MiCA (with the Bulgarian National Bank handling e-money-token prudential matters), and it runs a notably efficient statutory process — 40 working days to assess a complete application, with a reasoned decision issued shortly after. Bulgaria issued its first MiCA licence in April 2026 and is now an operational regime.
The main draw is running cost: Bulgaria's flat 10% corporate tax is among the lowest in the union, and the FSC charges a licence fee on issue (€5,113, €10,226 or €30,678 for Class 1, 2 or 3 under Ordinance No 76) plus an annual supervision fee that depends on the services you are licensed for. You still meet the full MiCA substance: a Bulgarian company with local presence, qualified management, an AML officer, initial capital of €50,000 to €150,000 by class, and a DORA-compliant ICT programme. The transitional window for legacy VASPs closed on 1 July 2026, so new entrants apply directly. For teams that want genuine EU passporting without EU-heavyweight running costs, Bulgaria is a strong fit.
Why operators pick Bulgaria
Serve every EU/EEA market from one FSC authorisation under MiCA Article 65.
A 10% flat corporate tax and FSC fees published in euro by class.
A defined 40-working-day statutory assessment keeps the timeline predictable.
Bulgaria issued its first MiCA licence in April 2026 — a live, working authority.
A genuine EU credential respected by banks, PSPs and partners.
Bulgaria vs. Lithuania (CASP)
| Criteria | Bulgaria | Lithuania |
|---|---|---|
| Regulator | FSC | Bank of Lithuania |
| State licence fee | €5,113–€30,678 by class | Set by the Bank of Lithuania |
| Corporate tax | 10% flat | 17% (7% small companies) from 2026 |
| Statutory review | 40 working days | 3–6 months typical |
| Passporting | EU-27 by notification | EU-27 by notification |
| Edge | Low tax, fixed 40-day clock | Deeper ecosystem, brand |
Who the Bulgaria crypto licence suits
Bulgaria crypto licence requirements
How to get a Bulgaria crypto licence
- Scope & class Fix the CASP service classes, the capital tier and the governance and substance plan. 1–2 weeks
- Company & capital Incorporate the Bulgarian company, fund capital and put the local office and roles in place. 3–5 weeks
- Build the file Draft the programme of operations, AML/CFT, DORA and safeguarding policies to FSC standard. 4–8 weeks
- Application & review File with the FSC; the statutory assessment of a complete file runs 40 working days. 2–4 months
- Passport & launch Notify host states for EU passporting, finish banking onboarding and go live. On approval
Not sure Bulgaria is the right fit?
Tell us your product and target markets — we'll confirm whether Bulgaria or another jurisdiction gets you live fastest, at the lowest all-in cost.
How much does a Bulgaria crypto licence cost?
- Bulgarian company incorporation
- CASP application to the FSC
- Programme of operations & core policies
- Regulator liaison to authorisation
- Everything in Licence
- Full AML/CFT & MLRO framework
- DORA ICT resilience programme
- Capital arrangement & substance setup
- Everything in Turnkey
- Crypto-friendly banking & PSP introductions
- EU passport notifications
- Ongoing compliance & reporting support
Bulgaria's FSC licence fees run €5,113 to €30,678 by class, and corporate tax is a flat 10%. The real commitments remain the class-based initial capital, local substance and the AML/DORA programme. We model the full economics against your service classes before you commit.
Compliance obligations in Bulgaria
Technical & IT standards in Bulgaria
After you go live in Bulgaria
Which markets a Bulgaria licence reaches
A CASP licence passports across the EU/EEA by notification, but you still follow each market's local rules and geo-block jurisdictions you are not authorised in — plus the United States, sanctioned and FATF-listed territories.
Operators must use GEO-IP blocking for restricted countries and any FATF-blacklisted nation. Non-compliance can lead to licence suspension or revocation.
Bulgaria crypto licence FAQ
What are the FSC fees for a Bulgarian CASP licence?
Under Article 16 of FSC Ordinance No 76, as amended from 1 January 2026, issuing a CASP licence costs €5,112.92 for Class 1, €10,225.84 for Class 2 and €30,677.51 for Class 3. Bulgaria also levies a flat 10% corporate tax, among the lowest in the union, and you get the same full MiCA licence and EU passporting as in any other member state.
How long does the Bulgarian crypto licence take?
The FSC has a statutory 40 working days to assess a complete application (the clock pauses if it identifies deficiencies), with a reasoned decision issued shortly after. Counting the company set-up and the application build, plan roughly four to seven months end to end.
How much capital do I need?
The MiCA tiers apply: €50,000 (Class 1), €125,000 (Class 2, custody/exchange) and €150,000 (Class 3, trading platform). Once you grow, a quarter of the previous year's fixed overheads can overtake the tier, and MiCA Article 67 makes you hold whichever is higher. You can meet it with own funds, an insurance policy or both.
Is Bulgaria's regime actually operational?
Yes. Bulgaria adopted the full 18-month grandfathering to 1 July 2026 and issued its first MiCA licence in April 2026 — it is a live, working authority.
Does a Bulgarian CASP work across the EU?
Yes. It is a full MiCA authorisation and passports into all 27 member states on a notification basis — a low-tax base with full single-market reach.
Reviewed by the Vantegris licensing team. Last updated September 2026. This page is general information, not legal advice. Licensing requirements vary by jurisdiction and change over time.
Start your Bulgaria file.
Tell us your product and target markets and we will map the licence route. The consultation is free and confidential, and most enquiries get a reply within 24 hours.