COREDO > Crypto Licence in Slovakia

Crypto Licence in Slovakia

Slovakia is a European jurisdiction for obtaining a CASP licence under the MiCA regulatory framework, providing access to the EU single market through the passporting mechanism. Cryptocurrency activities are regulated by the National Bank of Slovakia, ensuring a transparent and legal framework for operating with crypto-assets in Europe.

Since 2016, COREDO has been assisting clients with obtaining CASP licences in Slovakia, providing full support — from project assessment to communication with the regulator and licence approval.

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Cost of the service
from 29 000 EUR

Regulatory Framework: MiCA and DORA

Crypto-asset activities in Slovakia are regulated at the European Union level and at the national level. The regulatory framework is built upon two key European regulations.

The MiCA Regulation (Regulation (EU) 2023/1114) establishes uniform requirements for licensing, consumer protection, and supervision of digital asset operations. MiCA entered into full effect on 30 December 2024 and has direct applicability in all EU Member States, including Slovakia. All previously registered virtual asset service providers (VASPs) are required to undergo re-licensing and obtain CASP status.

The DORA Regulation (Regulation (EU) 2022/2554) — the Digital Operational Resilience Act — is aimed at ensuring the cybersecurity of financial institutions, including cryptocurrency companies. DORA has been applicable since 17 January 2025 and requires CASPs to implement ICT risk management frameworks, ensure business continuity, and report cyber incidents.

At the national level, the provisions of MiCA have been transposed through Act No. 248/2024 Z. z. “On Certain Obligations and Powers in the Area of Crypto-Assets and on Amendments to Certain Acts”, adopted on 11 September 2024. This act adapts MiCA standards to Slovak legislation and grants NBS the authority to supervise CASPs.

Transitional Period for Existing Providers

Slovakia exercised the right provided under Article 143 of MiCA and shortened the transitional (grandfathering) period for previously registered VASPs. Companies registered with the Slovak Financial Intelligence Unit before 30 December 2024 were allowed to continue operating, provided they submitted a full CASP licence application. The transitional period in Slovakia ended on 30 December 2025, after which all cryptocurrency service providers are required to operate exclusively under a CASP licence issued by NBS or another EU competent authority using the passporting mechanism.

There are no transitional period restrictions for new market entrants — a CASP licence application can be submitted to NBS at any time.

Types of CASP Licences in Slovakia

Under MiCA, CASP licences in Slovakia are divided into three classes depending on the scope of services provided.

Class 1

covers the following activities: execution of orders for crypto-assets on behalf of clients, placement of crypto-assets, reception and transmission of orders, advice on crypto-assets, portfolio management of crypto-assets, and crypto-asset transfer services.

Class 2

includes all Class 1 services, as well as custody and administration of crypto-assets on behalf of clients and exchange of crypto-assets for fiat currency or other crypto-assets.

Class 3

combines all Class 2 services, as well as operation of a trading platform for crypto-assets.

In addition to CASP, the MiCA regulation provides separate regimes for issuers of Asset-Referenced Tokens (ART) and issuers of E-Money Tokens (EMT). Non-fungible and unique crypto-assets (NFTs) are not covered by MiCA.

Advantages of Obtaining a CASP Licence in Slovakia

Slovakia offers a number of significant advantages for companies planning to obtain a CASP licence.

EU passporting:

a CASP licence obtained in Slovakia grants the right to provide cryptocurrency services in all 27 European Union Member States through the notification procedure (passporting) in accordance with Article 65 of MiCA, without the need to obtain separate licences in each country.

Competitive tax environment:

the corporate income tax rate in Slovakia is 10% for companies with taxable income up to EUR 100,000, 21% for income from EUR 100,000 to EUR 5,000,000, and 24% for income exceeding EUR 5,000,000. Individual holders of crypto-assets benefit from a reduced rate of 7% when holding for more than one year. The exchange of one crypto-asset for another is not a taxable event.

Pragmatic regulatory approach:

NBS applies the principle of proportionality, whereby capital requirements, internal policies, and organisational structure depend on the nature and scale of the services provided. The regulator encourages pre-licensing engagement with applicants.

Geographical location:

Slovakia is located in the centre of Europe, in close proximity to major financial centres — Vienna, Prague, and Budapest. This provides convenient logistics and access to qualified professionals.

Low operating costs:

office rental costs, employee salaries, and administrative expenses in Slovakia are significantly lower than in Western European countries, enabling the optimisation of costs for establishing and running a cryptocurrency business.

No restrictions on foreign ownership:

100% foreign ownership of a company is permitted without regulatory restrictions on capital movement or profit repatriation.

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COREDO Service Costs

COREDO’s services for obtaining a CASP licence in Slovakia are divided into three modules, which can be ordered individually or as a complete package.

Module 1. Initial Project Assessment

EUR 5,000 + VAT.

Detailed analysis of the requirements.
Review the documentation.
Identify potential risks.
Develop a tailored plan for preparing the CASP licence application.

Module 2. Company Registration in Slovakia

EUR 1,150 + VAT

Document preparation and registration of a legal entity (remotely or in person).
Registered office for one year.
Payment of state fees.
Obtaining the necessary business permits (excluding the CASP licence).
Document translation.

Module 3. Application Preparation and Interaction with NBS

from EUR 29,000 to EUR 49,000 + VAT

Preparation of the full document package for submission to NBS.
Filing the application and monitoring the review process.
Prompt response to regulator queries.
Support until a final decision is reached.
The cost varies depending on the licence class and project complexity.

The total cost of the full service package ranges from EUR 29,000 + VAT (with an existing company and minimal preparation) to EUR 56,200 + VAT (for the full cycle: assessment, company registration, and preparation of the application for the highest class).

Payment Terms

Payment for COREDO’s services is made in three instalments.

The first instalment is 40% of the total service cost. The advance payment is made before the commencement of document preparation.

The second instalment is 40% of the total service cost. The interim payment is made before the application is filed with NBS.

The third instalment is 20% of the total service cost. The final payment is made after the NBS decision is received.

The staged payment structure ensures transparency in financial settlements and links payments to specific deliverables.

Requirements for Obtaining a CASP Licence in Slovakia

To obtain a CASP licence, a company must meet a number of regulatory requirements.

Minimum share capital

depends on the licence class: Class 1 — EUR 50,000, Class 2 — EUR 125,000, Class 3 — EUR 150,000. Capital requirements are set out in Article 67 of MiCA and Annex IV to the regulation.

Management qualification.

Members of the company’s management must have an impeccable reputation (confirmed by a certificate of no criminal record), at least three years of experience in a managerial position, and at least three years of experience in the cryptocurrency sector. Qualifications are confirmed by diplomas, certificates, and other documents. All directors and qualifying shareholders undergo a fit and proper assessment by NBS.

Segregation of assets.

A CASP is required to ensure clear segregation of company and client funds: client crypto-assets are held in separate wallets, and client fiat funds are held in segregated bank accounts.

AML/KYC compliance.

The company must implement anti-money laundering and counter-terrorist financing (AML/CFT) policies and procedures, appoint a responsible officer (AML officer), and ensure compliance with Know Your Customer (KYC) requirements for client identification.

Cybersecurity and DORA.

In accordance with DORA, the company must implement an ICT risk management framework, ensure business continuity, maintain an incident response plan, and undergo a cybersecurity audit by an independent auditor.

Documents Required for Submission to NBS

To obtain a CASP licence, the following document package must be prepared and submitted to the National Bank of Slovakia (with translation into the Slovak language).

Documents for management and shareholders: passport and identity document (scan of both sides), proof of residential address, bank statement for the last 6 months or tax declaration, completed and signed KYC forms, curriculum vitae (CV), diplomas, certificates, and other documents confirming professional qualifications and experience.

A business plan and financial plan for three years with a detailed description of services, types of crypto-assets, and target markets.

Proof of share capital — bank statement.

Internal governance documents: organisational structure, information on key personnel (with CVs and proof of experience), internal control policies and procedures.

Risk management policies — documents on the identification, assessment, and management of risks, including anti-money laundering and counter-terrorist financing measures.

Technical documentation on IT systems and security: a cybersecurity audit by an independent auditor, a description of infrastructure and security systems.

Asset segregation documents: policies for the segregation of client and corporate assets, bank agreements and statements.

Custody and administration policy for crypto-assets (for Class 2): storage procedures, risk management, outsourcing documents (if applicable).

Trading platform rules (for Class 3): admission and trading rules, fee structure, market abuse detection mechanisms.

Commercial policy and pricing methodology (for Class 2): description of the pricing methodology and non-discriminatory client engagement policy.

Order execution policy (for Class 1): execution mechanism, factors affecting execution, quality monitoring.

Documents confirming the competence of advisers and portfolio managers (for Class 1).

Information on crypto-asset transfer services (for Class 1): types of crypto-assets and client identification procedures.

White Paper (if applicable).

CASP Licence Acquisition Procedure

The process of obtaining a CASP licence in Slovakia consists of five main stages.

Initial Project Assessment.

COREDO specialists request detailed information from the client for a comprehensive project analysis. Primary focus is placed on legal matters and AML/CFT compliance. The preparation timeline, level of team involvement, and preliminary cost are assessed. Timeline: approximately 1 week from receipt of all data.

01

Registration of a Legal Entity in Slovakia.

Following the agreement on details, the company registration process begins in accordance with the client’s requirements and Slovak legislation. Timeline: 2–4 weeks from receipt of all required documents.

02

Application and Document Package Preparation.

Together with the client, COREDO specialists prepare the full document package for submission to NBS. The composition depends on the specifics of the business and the selected service classes. Timeline: approximately 2 months depending on the completeness of the information provided.

03

Application Filing and Interaction with NBS.

After the application is filed, COREDO monitors the review process and promptly responds to NBS queries. NBS verifies the completeness of the application within 25 business days, followed by a qualitative assessment within 40 business days. Client participation may be required to provide additional information. COREDO specialists accompany the process until the regulator’s final decision is reached.

04

NBS Decision on the Application.

The total application review period typically ranges from 3 to 6 months depending on NBS workload and project complexity. Upon approval, the licence information is entered into the NBS register, and the company is authorised to provide cryptocurrency services in Slovakia and in all EU Member States through passporting.

05

Our Experts

The CASP licence acquisition process in Slovakia is supported by the COREDO team of experts with extensive experience in cryptocurrency regulation and licensing.

Pavel Kos

Head of Legal at COREDO. Has been with the company since 2017, specialising in the licensing of financial and cryptocurrency companies, strategic planning, and interaction with EU regulators.

Basang Ungunov

Lawyer at COREDO. Specialises in legal support of cryptocurrency projects, preparation of legal opinions, and regulatory documentation for CASPs.

Frequently Asked Questions

What is a CASP licence and how does it differ from VASP?

CASP (Crypto-Asset Service Provider) is the status provided under the MiCA regulation for cryptocurrency service providers in the European Union. It replaced the former VASP (Virtual Asset Service Provider) regime, which operated at the national level. Unlike VASP, a CASP licence is a fully-fledged EU financial licence with a passporting mechanism, allowing operations across all 27 countries.

What is the minimum capital required for a CASP licence in Slovakia?

The minimum capital depends on the licence class: EUR 50,000 for Class 1, EUR 125,000 for Class 2, and EUR 150,000 for Class 3. The requirements are set out in Article 67 of MiCA.

How long does it take to obtain a licence?

The total timeline is 6 to 12 months. The preparatory stages (assessment, company registration, document package preparation) take approximately 3–4 months. The NBS application review takes 3 to 6 months depending on project complexity.

Is it possible to operate in other EU countries with a CASP licence from Slovakia?

Yes. In accordance with Article 65 of MiCA, a company holding a CASP licence issued in Slovakia is entitled to provide cryptocurrency services in all 27 EU Member States through the notification procedure (passporting), without the need to obtain additional licences.

Which regulator is responsible for CASPs in Slovakia?

The competent authority is the National Bank of Slovakia (Národná banka Slovenska, NBS). NBS is responsible for licensing, supervision, and monitoring of compliance with MiCA requirements.

Is 100% foreign ownership of a CASP company permitted?

Yes. Slovak legislation permits full foreign ownership of a legal entity without regulatory restrictions on capital movement.

What is the cost of obtaining a CASP licence with COREDO?

The cost of the full COREDO service package ranges from EUR 29,000 + VAT (application preparation with an existing company) to EUR 56,200 + VAT (the full cycle including assessment, company registration, and application preparation). Payment is made in instalments: 40% advance payment, 40% interim payment, and 20% final payment.

What are the tax conditions for cryptocurrency companies in Slovakia?

The corporate income tax rate is 10% for income up to EUR 100,000, 21% for income from EUR 100,000 to EUR 5,000,000, and 24% for income exceeding EUR 5,000,000. The exchange of one crypto-asset for another is not a taxable event. Individual holders benefit from a rate of 7% when holding for more than one year.

Submit Application

COREDO has been providing comprehensive services for obtaining a CASP crypto licence in Slovakia since 2016. Our experts will help you navigate the licensing procedure with minimal time and effort — from the initial project assessment to obtaining the NBS decision and registration in the register.

Entrust the application preparation and interaction with the National Bank of Slovakia to professionals, so you can focus on growing your business.

Contact us for a personalised consultation on CASP licensing in Slovakia.