Europe · Finantsinspektsioon · MiCA CASP · EU-passportable
Estonia Crypto Licence
The original EU crypto hub, rebuilt under MiCA. Estonia's 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. Digital-first, efficient and credible. Vantegris runs the application, the AML and DORA build, and the banking.
overview
Why Estonia.
Estonia built its reputation as Europe's most accessible crypto jurisdiction, and under MiCA it has carried that forward — but the rules have changed materially. The old Financial Intelligence Unit (FIU) VASP registration is being retired: crypto services now require a Crypto-Asset Service Provider (CASP) licence issued by the Estonian Financial Supervision Authority (Finantsinspektsioon). Existing FIU VASP authorisations are valid only until 1 July 2026, there is no automatic conversion, and firms must 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.
advantages
Why operators pick it.
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.
head to head
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 | Deepest fintech ecosystem, quick review |
who it's for
Built for these operators.
requirements
Eligibility & docs.
step by step
From zero to licence.
- Scope & classSet the CASP service classes, the capital tier and the governance and substance plan.1–2 weeks
- Company & capitalIncorporate the Estonian OÜ, fund capital and put the local office and roles in place.2–4 weeks
- Build the fileDraft the programme of operations, AML/CFT, DORA and safeguarding policies to FSA standard.4–8 weeks
- Application & reviewFile with the Financial Supervision Authority and manage review to authorisation.4–6 months
- Passport & launchNotify 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.
pricing
Transparent packages.
- 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, not the minimum on paper — we size capital and staffing to your service classes before you file.
obligations
Compliance duties.
technical standards
Technology & IT.
after launch
We stay on after you're live.
market access
Reach & restrictions.
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.
FAQ
Is the Estonian VASP licence still available?
No. The Financial Intelligence Unit's VASP registration is being replaced by the CASP licence issued by the Financial Supervision Authority (Finantsinspektsioon). Existing FIU VASP authorisations are valid only until 1 July 2026, there is no automatic conversion, and firms must 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 — adds custody and exchange) and €150,000 (Class 3 — operating a trading platform). In practice the FSA expects sound own funds and real substance on top of the minimum.
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 deepest fintech ecosystem and typically the fastest review. We'll match the choice to your services, banking and timeline.
Reviewed by the Vantegris licensing team · Last updated July 2026. This page is general information, not legal advice. Licensing requirements vary by jurisdiction and change over time.
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