COREDO > Crypto Licence in Lithuania

Crypto Licence in Lithuania

Lithuania is one of Europe’s leading hubs for cryptocurrency and fintech businesses, offering modern regulation and access to the EU market. The jurisdiction provides the opportunity to obtain a CASP licence under MiCA, allowing companies to offer services across the European Union through the passporting mechanism.

Since 2016, COREDO has been assisting clients with obtaining CASP licences in Lithuania, providing full support — from business structuring to communication with the Bank of Lithuania and post-licensing assistance.

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Cost of the service
from 34 000 EUR

Regulatory Framework: MiCA and DORA

Crypto-asset regulation in Lithuania is based on two key EU acts that have direct effect across all Member States.

The MiCA Regulation (Regulation (EU) 2023/1114) — Markets in Crypto-Assets — establishes uniform rules for the crypto-asset market across the EU. The Regulation defines the licensing procedure for crypto-asset service providers (CASP), as well as requirements for capital, governance, client protection, and disclosure. MiCA came into full effect on 30 December 2024, replacing national VASP registration regimes.

At the national level, Lithuania adopted the Law on Crypto-Asset Markets (Lietuvos Respublikos kriptoturto rinkų įstatymas) on 11 July 2024, designating the Bank of Lithuania as the competent authority for issuing CASP licences in accordance with Title V of MiCA.

The DORA Regulation (Regulation (EU) 2022/2554) — Digital Operational Resilience Act — aims to ensure the digital operational resilience of financial organisations, including CASPs. DORA has been applicable since 17 January 2025 and requires crypto-asset companies to implement ICT risk management systems, incident reporting frameworks, digital resilience testing, and third-party ICT service provider risk controls.

The transitional period for existing VASPs in Lithuania has been extended until 1 January 2026. After this date, providing crypto-asset services without a CASP licence constitutes unlawful financial activity.

Types of CASP Licences in Lithuania

Under MiCA, CASP licences are divided into three classes depending on the types of services provided. Each class includes a specific list of permitted operations.

Class 1

covers basic crypto-asset services: execution of orders for the purchase and sale of crypto-assets, placement of crypto-assets, reception and transmission of orders, provision of advice on crypto-assets, portfolio management of crypto-assets, and transfer services for crypto-assets.

Class 2

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

Class 3

includes all Class 1 and Class 2 services, as well as the operation of a trading platform for crypto-assets.

In addition to CASP, MiCA also regulates the issuance of Asset-Referenced Tokens (ART) and E-Money Tokens (EMT); however, these activities require separate authorisations. MiCA does not cover NFTs and certain financial instruments already regulated under MiFID II.

Advantages of Obtaining a Crypto Licence in Lithuania

Lithuania offers a number of significant advantages for crypto-asset businesses, making it one of the most sought-after jurisdictions in the EU.

Access to the EU market through passporting.

A CASP licence issued by the Bank of Lithuania grants the right to provide crypto-asset services in all 27 EU Member States on a notification basis (passporting, Article 65 MiCA), without the need to obtain additional licences in each country.

Developed fintech ecosystem.

Lithuania is one of the largest fintech hubs in the EU. According to Invest Lithuania, as of the end of 2025, the country had 248 registered fintech companies, and the fintech talent pool had reached 7,800 specialists.

Efficient application processing timelines.

The Bank of Lithuania ensures some of the shortest CASP licence application review periods in the EU. The average processing time is 3–6 months.

Competitive tax environment.

The standard corporate tax rate in Lithuania is 16% (rising to 17% from 2026). A reduced rate is available for small enterprises with turnover up to EUR 300,000, and new companies may benefit from a zero rate during their first two years of operations.

Digital infrastructure.

Lithuania offers advanced IT infrastructure and an e-government system, which simplifies interaction with state authorities, including submitting applications via the Bank of Lithuania’s electronic portal.

Qualified workforce.

The Lithuanian labour market has specialists in financial technology, compliance, and IT, which facilitates the formation of a team for a CASP.

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Cost of COREDO Services for CASP Licensing in Lithuania

The cost of COREDO services for obtaining a CASP licence in Lithuania depends on the scale of the project and the classes of crypto-asset services the company plans to provide.

Stage 1: Initial Project Assessment

EUR 5,000 + VAT

Provide information on requirements.
Analyse documentation.
Identify problem areas.
Develop an individual plan for preparing the CASP licence application.

Stage 2: Registration of a Legal Entity in Lithuania

EUR 3,000 + VAT

Preparation of documents for company registration.
Provision of a registered office for one year.
Payment of state fees.
Company registration.
Obtaining permits for business activities (excluding the CASP licence).
Document translation.

Stage 3: Application Preparation and Interaction with the Bank of Lithuania

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

The price may vary depending on the results of the initial project assessment and the classes of services planned for provision.

Total cost of the COREDO service package: from EUR 34,000 + VAT.

Payment Terms

Payment for COREDO services for obtaining a CASP licence in Lithuania is made in stages.

Advance payment — 40% of the total cost of services. Payable before the commencement of the application and documentation preparation stage.

Interim payment — 40% of the total cost of services. Payable before the submission of the application to the Bank of Lithuania.

Final payment — 20% of the total cost of services. Payable after receiving the regulator’s decision on the application.

Requirements for Obtaining a CASP Licence in Lithuania

To obtain a CASP licence in Lithuania, the applicant company must meet a number of requirements established by MiCA and national legislation.

Minimum share capital.

The minimum capital amount depends on the licence class: Class 1 — EUR 50,000, Class 2 — EUR 125,000, Class 3 — EUR 150,000. The capital must be fully paid up in cash and placed in a bank account within the European Economic Area (EEA). Additionally, a CASP must maintain prudential reserves of at least one quarter of the previous year’s fixed overhead expenses if this amount exceeds the minimum capital.

Directors and governing bodies.

The board of directors must consist of at least two members. At least one board member must be a resident of Lithuania. All board members must have an impeccable business reputation and demonstrate at least three years of experience in senior management positions, including experience in the crypto-asset industry. Criminal record certificates and documents confirming qualifications must be provided.

Physical office.

The company must demonstrate the existence of a physical office in Lithuania. The registered office and place of effective management must be located within the EU.

AML/CFT compliance officer.

A designated officer responsible for compliance with anti-money laundering and counter-terrorist financing (AML/CFT) requirements must be appointed. This specialist must have relevant professional experience, work in Lithuania, and must not hold the same position in other companies.

Financial audit.

The company is required to conduct an audit of its financial statements. An external auditor may be engaged for this purpose.

Segregation of client assets.

A CASP must ensure that client funds and crypto-assets are not used for the company’s own purposes. Client crypto-assets must be held in separate wallets, and client funds must be kept in segregated bank accounts.

DORA compliance.

The company must implement an ICT risk management system, an information security policy, a business continuity plan, and incident reporting mechanisms in accordance with the DORA Regulation.

Documents for Obtaining a CASP Licence in Lithuania

All documents must be submitted in Lithuanian; the possibility of submission in English is discussed on an individual basis. The main categories of documents include:

Documents of directors, board members, and shareholders: identity documents (passport, ID card), proof of residential address, bank statements for the last 6 months or tax declarations, completed KYC forms, CVs, and diplomas confirming qualifications and experience.

Business plan and financial plan: a three-year programme of activities specifying the types of crypto-assets, information on the geography and methods of service provision.

Proof of share capital contribution: a bank statement confirming the placement of funds in the account.

Information on internal governance and controls: organisational structure, key personnel, internal policies and procedures.

Risk management mechanisms: policies for identifying and managing risks, including money laundering and terrorist financing risks.

Technical documentation: description of ICT systems, distributed ledger technology (DLT) infrastructure, and security measures, including a cybersecurity audit.

Client asset segregation procedure: segregation policies, banking agreements, and statements.

Crypto-asset custody and administration policy (for Class 2): description of custody procedures and risk mitigation measures.

Trading platform rules (for Class 3): trading rules and a system for detecting market abuse.

Commercial policy and pricing methodology (for Class 2): description of the methodology for determining the price of crypto-assets.

Order execution policy (for Class 1): execution, monitoring, and quality control policy.

Confirmation of advisor qualifications (for Class 1): policies and procedures for persons providing advice or managing portfolios.

Crypto-asset transfer information (for Class 1): data on the types of crypto-assets and the client identification procedure.

White Paper (if applicable): a document describing the crypto-asset, where relevant.

Procedure for Obtaining a CASP Licence in Lithuania

The process of obtaining a CASP licence in Lithuania involves several sequential stages.

Initial project assessment.

COREDO specialists request information for a comprehensive assessment of the project, including legal and AML/CFT aspects. Based on the data obtained, the timeline for application preparation, the composition of specialists involved, and the cost are determined. Approximate timeline: 1 week.

01

Registration of a legal entity in Lithuania.

Following the initial assessment and agreement on further steps, COREDO registers a legal entity (UAB) in Lithuania, providing a registered office and all necessary registration activities. Approximate timeline: 2 weeks.

02

Application and documentation preparation.

A complete document package for submission to the Bank of Lithuania is prepared jointly with the client, taking into account the specifics of the business and the selected service classes. Approximate timeline: 2 months.

03

Application submission and interaction with the Bank of Lithuania.

After submission, COREDO specialists monitor the review process and promptly respond to the regulator’s requests. At this stage, active client participation may be required to respond to additional questions.

04

Decision on the application.

The average processing time by the Bank of Lithuania is 3 to 6 months depending on the regulator’s workload. Following a positive decision, the licence is registered in the Bank of Lithuania’s registry.

05

Overall timeline from the start of work to licence acquisition: 6 to 9 months.

Our Experts

Obtaining a CASP licence in Lithuania is a complex process that requires a deep understanding of European crypto-asset market regulation. COREDO specialists provide comprehensive support at every stage.

Pavel Kos

Head of Legal at COREDO. Has been with the company since 2017 and possesses expertise in the licensing of financial and crypto-asset companies across various EU jurisdictions. Coordinates application preparation and interaction with regulators.

Basang Ungunov

Lawyer at COREDO. Specialises in the legal support of crypto-asset projects, preparation of licensing documentation, and legal opinions.

Frequently Asked Questions

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

CASP (Crypto-Asset Service Provider) is a licence introduced by the MiCA Regulation for crypto-asset service providers in the EU. Prior to MiCA coming into force, Lithuania operated a VASP (Virtual Asset Service Provider) registration regime. Since 30 December 2024, VASP registration has been replaced by a full CASP licence, which imposes stricter requirements on capital, governance, and compliance.

How much does it cost to obtain a CASP licence in Lithuania?

The cost of COREDO services for obtaining a CASP licence in Lithuania starts from EUR 34,000 + VAT. The final amount depends on the scale of the project and the classes of services the company plans to provide.

What are the timelines for obtaining a CASP licence in Lithuania?

The overall timeline from the start of work to licence acquisition is 6 to 9 months. Document preparation takes approximately 3 months, and the Bank of Lithuania’s review of the application takes 3 to 6 months.

What is the minimum capital required for a CASP?

The minimum capital depends on the licence class: Class 1 — EUR 50,000, Class 2 — EUR 125,000, Class 3 — EUR 150,000. The capital must be placed in a bank account within the EEA.

Can I operate in other EU countries with a Lithuanian CASP licence?

Yes. A CASP licence issued by the Bank of Lithuania grants the right to provide crypto-asset services in all 27 EU Member States on a notification basis (passporting) in accordance with Article 65 of MiCA. This allows serving clients across the entire European Union without obtaining additional licences.

Is a physical office in Lithuania required?

Yes, the company must have a physical office in Lithuania. The place of effective management of the CASP must be located within the EU, and at least one board member must be a resident of Lithuania.

What is the transitional period for existing VASPs?

Lithuania extended the transitional period until 1 January 2026. VASPs registered before 30 December 2024 may continue their activities provided they submit an application for a CASP licence. After 1 January 2026, operating without a CASP licence is unlawful.

What DORA requirements apply to CASPs?

DORA requires CASPs to implement an ICT risk management system, an information security policy, a business continuity plan, an incident reporting mechanism, and to conduct digital resilience testing. Penalties for non-compliance may reach up to 2% of annual global turnover.

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Obtaining a CASP licence in Lithuania is a strategic step towards entering the European crypto-asset market. COREDO has been supporting clients at every stage of the process since 2016, ensuring professional documentation preparation and effective interaction with the Bank of Lithuania.

Contact us for an individual consultation on CASP licensing in Lithuania.

Phone: +420 228 886 867 Email: info@coredo.eu