How to Obtain a MiCA CASP Licence in Lithuania

Introduction

If you plan to operate crypto exchange, custody, trading, payment, or other crypto-asset services in the EU, Lithuania is one of the most commercially viable jurisdictions to secure MiCA CASP licensing. Under the Markets in Crypto-Assets Regulation (MiCA), authorised by the Bank of Lithuania, a CASP licence enables EU passporting, credible regulator standing, and access to European markets.

Buckingham Capital Consulting has supported financial and digital asset businesses with licensing and compliance for over 15 years across Europe, the UK, Middle East, the US and Asia Pacific.

CASP Licensing in Lithuania at a Glance

Who needs a CASP licence: Entities providing regulated crypto-asset services to EU clients from Lithuania or into the EU.

Competent authority: The Bank of Lithuania is responsible for CASP authorisation and supervision under MiCA.

Legal basis: Markets in Crypto-Assets Regulation (MiCA), an EU regulation effective across all member states.

Where you apply: To the Bank of Lithuania as the designated MiCA competent authority.

Passporting rights: Once authorised, you can serve customers across all 27 EU member states.

Typical timelines: Preparation 3–6 months; review by regulator 3–6+ months after submission.

What Is a CASP Licence Under MiCA

A Crypto-Asset Service Provider (CASP) licence is a regulated authorisation under MiCA that covers core virtual asset services such as crypto exchange, custody, trading platforms, transfer services, crypto-asset advisory, and related operations. CASP authorisation is required for any entity offering these services in the EU.

Under MiCA, the Bank of Lithuania issues licences in accordance with Title V of the Regulation, subject to compliance with EU-wide governance, capital, AML/KYC, risk, and operational standards.

Who Needs a CASP Licence in Lithuania

Entities must secure CASP authorisation if they intend to provide one or more of the following services professionally in or into the EU:

1. Crypto to fiat and crypto to crypto exchange

2. Custody and safekeeping of crypto-assets

3. Execution of client orders

4. Trading crypto-assets on own account

5. Transfer and settlement services

6. Portfolio management and advisory services

7. Token issuance and distribution services

8. Crypto payment services

If you offer any of these services, MiCA requires that you be authorised before operating legally in the EU.

Minimum Capital and Licence Classes

Under MiCA, share capital requirements for CASP licences vary according to the services permitted, structured similarly to other EU CASP regimes:

1. Basic CASP services (e.g., order execution, reception/transmission of orders): Minimum capital €50,000.

2. Mid-tier services (e.g., exchange, trading platform): Minimum capital €125,000.

3. High-risk services (e.g., custody and safekeeping on behalf of clients): Minimum capital €150,000.

Firms must maintain the higher of these fixed amounts or a proportion of the previous year’s operational costs, depending on the services included in the licence.

Licence Application Fees and Costs

• Regulatory authority fees: Lithuania does not charge separate statutory licensing fees beyond standard registration and administrative costs; companies should verify current fee schedules directly with the Bank of Lithuania.

• Capital: Meets MiCA thresholds based on authorised activities.

• Operational costs: Company formation, compliance and AML systems, local AML officer, governance and risk frameworks, technology and cybersecurity implementation.

The Bank of Lithuania maintains high standards for completeness and quality; incomplete or poorly prepared applications are not accepted for review.

Bank of Lithuania CASP Requirements

To obtain a CASP licence, applicants must demonstrate:

1. Legal entity duly incorporated in Lithuania or another EU member state with management effectively located in the EU.

2. Fit and proper directors and senior management with relevant experience and integrity.

3. Operational infrastructure with real substance — offices, staff, compliance functions.

4. Robust AML/KYC and transaction monitoring systems designed for crypto-specific risks.

5. Governance and risk management frameworks adapted for financial, operational, and cyber risks.

6. Technology and security architecture that protects client assets and ensures operational resilience.

7. Financial viability and capital adequacy in accordance with MiCA thresholds.

The Bank of Lithuania emphasises that licences will not be granted to “empty shell” companies with outsourced control; applicants must show real business substance.

Advantages of CASP Licensing in Lithuania

Lithuania has established itself as one of the most strategic EU hubs for crypto business due to:

• Pro-business licensing framework: Clear regulatory regime and early adoption of MiCA allow firms to operate under a fully harmonised EU regime.

• EU passporting rights: Once authorised, firms can provide services across all EU member states.

• Experienced regulator: The Bank of Lithuania is active in digital finance oversight and coordinates with EU peers.

• Investor protection emphasis: MiCA enhances transparency, AML controls, and consumer safeguards.

• Local talent and operating cost efficiencies: Competitive cost base for compliance staff and domestic operations compared with Western Europe.

Lithuania also set a transition period to 31 December 2025 for existing crypto asset service providers to obtain MiCA licences; after that, unlicensed activity will be considered illegal.

How the CASP Licensing Process Works

1. Pre-Application Planning – Define the services you will offer, capital structure, governance, and compliance frameworks.

2. Entity Setup – Establish a legal entity in Lithuania or another EU member state as required.

3. Policy and Document Preparation – Build AML/KYC procedures, governance manuals, risk policies, and financial projections.

4. Submission to Bank of Lithuania – Submit a complete licence application with all required documentation.

5. Regulatory Assessment – Respond to Bank of Lithuania questions, provide clarifications, and participate in any scheduled interviews.

6. Authorisation and EU Passporting – Once authorised, register in the EU CASP register and begin pan-EU operations.

Typical Timelines

• Application preparation: 1-2 months depending on readiness and complexity.

• Regulator review: 4–6+ months after submission.

Please note that timelines vary based on application quality and scope of services. Proper preparation and thorough documentation usually shorten review time and increase the chances of first-time approval.

Most Asked Questions About CASP Licensing in Lithuania

How long does it take to get a CASP licence in Lithuania?

Typically 6 to 12+ months from preparation to final authorisation.

Can a non-EU entity apply?

Yes, but it must incorporate an EU company and establish effective management in the EU.

Does the licence cover the whole EU?

Yes. MiCA CASP licence from Lithuania allows service provision across all 27 EU member states.

Are there ongoing obligations?

Yes. CASPs must maintain ongoing compliance with MiCA, AML/KYC, reporting, governance, and audit requirements.

What happens after the transitional period?

After 31 December 2025, offering crypto-asset services without MiCA authorisation in Lithuania is illegal.

How Buckingham Capital Consulting Can Help with CASP Licensing in Lithuania

Buckingham Capital Consulting has supported financial, payment, and digital asset firms with licensing and compliance for over 15 years across Europe and globally.

We help with:

1. Regulatory strategy and jurisdiction selection – Confirm that Lithuania aligns with your business and EU goals.

2. Company formation and local setup – Establish the legal entity and substance required under MiCA.

3. CASP application drafting and review – Prepare regulator-ready applications, policies, and supporting documentation.

4. Compliance design – Build AML/KYC, risk management, governance, and security frameworks that satisfy Bank of Lithuania expectations.

5. Regulator engagement – Manage correspondence, responses, and regulator-requested clarifications.

6. Post-authorisation support – Ensure ongoing compliance, reporting, and supervisory readiness.

Our goal is to ensure your licence is not just authorised, but positioned for sustainable EU pan-European operations.

About Buckingham Capital Consulting

Buckingham Capital Consulting is a leading global regulatory business, specialising in the banking, e-money, cryptoasset and payment service sectors. We have been helping financial services and crypto businesses secure regulatory licences and operate compliantly for over 15 years.

We work with exchanges, custody providers, brokers, wallets, and crypto platforms across Europe, the UK, the US, Middle East, and Asia Pacific.

For assistance with a Lithuania MiCA CASP licence, call 020 7866 2512, email info@buckinghamcapitalconsulting.co.uk, or visit www.buckinghamcapitalconsulting.com.