EU-passportable MiCA CASP from the Finantsinspektsioon
Estonia Crypto Licence
Estonia has rebuilt its crypto regime under MiCA. Its Financial Supervision Authority now issues the CASP licence that replaced the country's well-known VASP regime — a full EU authorisation, passportable across all 27 member states, at €50,000–€150,000 capital by service class. Vantegris runs the application, the AML and DORA build, and the banking.
What is the Estonia crypto licence?
Estonia built its name as an easy place to register a crypto business, but under MiCA the rules have changed materially. The old Financial Intelligence Unit (FIU) VASP registration has been retired: crypto services now require a Crypto-Asset Service Provider (CASP) licence issued by the Estonian Financial Supervision Authority (Finantsinspektsioon). Existing FIU VASP authorisations were valid only until 1 July 2026, there was no automatic conversion, and firms had to reapply to the FSA to keep operating.
What you get in return is a full EU licence. A CASP authorisation passports into all 27 member states on a notification basis, so one Estonian licence opens the entire single market. Estonia's e-government makes incorporation and ongoing administration unusually efficient, and the country retains a distributed-profits corporate-tax model that many crypto teams favour. In exchange, MiCA demands real substance — an Estonian OÜ with a local office, qualified management, an AML officer, initial capital of €50,000 to €150,000 by class, and a DORA-compliant ICT programme. We treat it as the full financial-services licence it now is.
Why operators pick Estonia
Serve every EU/EEA market from one Estonian CASP authorisation under MiCA Article 65.
e-Residency, digital signatures and online administration cut the friction of running a licensed entity.
Corporate tax applies only when profits are distributed — attractive for reinvesting teams.
Existing Estonian VASPs upgrading to CASP can benefit from a shorter, simplified review.
A long history of crypto business and crypto-aware service providers, banks and auditors.
Estonia vs. Lithuania (CASP)
| Criteria | Estonia | Lithuania |
|---|---|---|
| Regulator | Finantsinspektsioon (FSA) | Bank of Lithuania |
| Regime | MiCA CASP | MiCA CASP |
| Min. capital | €50k–€150k by class | €50k–€150k by class |
| Passporting | EU-27 by notification | EU-27 by notification |
| Typical timeline | 4–6 months | 3–6 months |
| Edge | Digital admin, distributed-profits tax | Deeper fintech ecosystem, quick review |
Who the Estonia crypto licence suits
Estonia crypto licence requirements
How to get an Estonia crypto licence
- Scope & class Set the CASP service classes, the capital tier and the governance and substance plan. 1–2 weeks
- Company & capital Incorporate the Estonian OÜ, fund capital and put the local office and roles in place. 2–4 weeks
- Build the file Draft the programme of operations, AML/CFT, DORA and safeguarding policies to FSA standard. 4–8 weeks
- Application & review File with the Financial Supervision Authority and manage review to authorisation. 4–6 months
- Passport & launch Notify host states for EU passporting, finish banking onboarding and go live. On approval
Not sure Estonia is the right fit?
Tell us your product and target markets — we'll confirm whether Estonia or another jurisdiction gets you live fastest, at the lowest all-in cost.
How much does an Estonia crypto licence cost?
- Estonian OÜ incorporation
- CASP application to the FSA
- 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
The real commitments are the class-based initial capital (which remains working capital), local substance and the AML/DORA programme. In practice the FSA expects robust own funds and a credible team on top of the paper minimum. We size capital and staffing to your service classes before you file.
Compliance obligations in Estonia
Technical & IT standards in Estonia
After you go live in Estonia
Which markets an Estonia 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.
Estonia crypto licence FAQ
Is the Estonian VASP licence still available?
No. The Financial Intelligence Unit's VASP registration has been replaced by the CASP licence issued by the Financial Supervision Authority (Finantsinspektsioon). Existing FIU VASP authorisations were valid only until 1 July 2026, there was no automatic conversion, and firms had to reapply to the FSA for a CASP licence to continue.
How much capital does an Estonian CASP need?
The MiCA tiers apply: €50,000 (Class 1), €125,000 (Class 2, which adds custody and exchange) and €150,000 (Class 3, operating a trading platform). MiCA Article 67 requires the higher of that tier or a quarter of the previous year's fixed overheads, met through own funds, an insurance policy or both. In practice the FSA also expects real substance behind the figure.
How long does it take?
Around four to six months from scratch on a complete file. An existing Estonian VASP upgrading to CASP may qualify for a simplified route, potentially closer to three months.
Does it work across the EU?
Yes. An Estonian CASP authorisation is a full MiCA licence and passports into all 27 member states on a notification basis — you can serve the whole EU from Estonia.
Estonia or Lithuania?
Both are Baltic MiCA hubs with identical capital tiers and full passporting. Estonia leans on digital administration and a distributed-profits tax model; Lithuania offers the deeper fintech ecosystem. We'll match the choice to your services, banking and timeline.
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 Estonia 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.