CASP License in Lithuania

A CASP license is a permit for legal operations with cryptoassets in the EU. It confirms that a company is officially authorized to provide services in the field of digital assets - from cryptocurrency exchange and secure storage to wallet management and transactions on behalf of clients. In effect, the license allows companies to passport their services across the entire EU market.

Lithuania is considered one of the most open jurisdictions for fintech and crypto businesses. The country has been granted the status of a fintech hub thanks to the efficiency of license issuance, experienced regulators, and the availability of local registration support services. Startups can commence operations in Lithuania much faster compared to some other European states. Investors, in turn, are attracted by the ease of interaction with local providers.

What Is a CASP License?

CASP (Crypto Asset Services Provider) is a license issued to companies operating in the crypto-asset sector. It confirms the legality of business activities and compliance with anti-money laundering (AML) and counter-terrorist financing (CFT) requirements, while also ensuring client protection and operational transparency. The license is regulated under standards within the framework of the MiCA (Markets in Cryptoassets) regulation.

All companies involved with digital assets must obtain CASP status. Such services include cryptocurrency exchange into fiat or other cryptoassets, custody and management of cryptoassets on behalf of clients, execution of transactions on behalf of third parties, and participation in the offering or sale of cryptoassets. Companies providing such services without a license risk fines and other sanctions.

Requirements for Companies

Within Lithuania, licensing falls under the jurisdiction of the Bank of Lithuania (the country’s central bank). It is authorized to issue licenses in line with the European MiCAR regulation.

Additionally, Lithuania’s Financial Crime Investigation Service (FCIS) oversees compliance with AML/CFT requirements.

Applicant requirements

Impeccable business reputation of beneficiaries and management.
Availability of internal AML/CFT policies.
Proof of income.
Minimum share capital (from EUR 50,000).
Presence of an office in Lithuania.

Types of CASP Licenses

Types and levels of licenses in Lithuania are defined by MiCA.

CASP Class 1 - Basic Services. Companies may manage crypto-asset portfolios and place them without a firm buyback commitment. Suitable for small startups not operating trading platforms. Minimum share capital: EUR 50,000.
CASP Class 2 - Extended Services. Holders of this class are authorized to custody cryptoassets or access keys on behalf of clients, conduct exchanges, and perform token operations. Minimum share capital: EUR 125,000. Suitable for crypto exchanges, custodial services, and OTC platforms.
CASP Class 3 - Full License. In addition to the functions of Classes 1 and 2, these companies may operate trading platforms. Minimum share capital: EUR 150,000.

Procedure for Obtaining a CASP License

Incorporate the Company in Lithuania

Before filing an application, a company must be incorporated in Lithuania. Entrepreneurs typically choose the UAB legal form, after which they determine the appropriate license class based on the range of services. Managers must demonstrate an impeccable business reputation and relevant experience.
Prepare Required Documents

Law&Trust assists with document preparation, notarization, and translation.
Submit the Application to the Bank of Lithuania

The completed application is submitted to the Bank of Lithuania together with the incorporation documents, business plan, and detailed service description. Applications can be filed either physically or remotely.
Wait for Review and Approval

The overall timeframe for obtaining a license is up to 6 months, provided the documents are submitted correctly. To shorten the waiting period, you may consult our lawyers.

Required documents

Business plan.
AML/CFT policy and KYC procedures.
Internal control and risk management system.
Proof of sources of funds.
Information on ultimate beneficiaries and directors.
Lease agreement or confirmation of office address.

Our Services

Law&Trust provides comprehensive support at all stages of obtaining a CASP license in Lithuania and other jurisdictions. We offer professional consultations, help select the optimal jurisdiction for your business model, assist with the company incorporation process, and thoroughly prepare the application package.

Our services include:

Consultations on CASP licensing matters
Company registration in Lithuania
Preparation of a complete set of application documents
Support with filing and communication with regulators
Appointment of nominee directors and AML officers
Ensuring full regulatory compliance

If you plan to develop your project in Europe, legal assistance is essential. Our experts will help you choose the best solution, supporting you at every stage - from concept to license approval and successful business launch.

F.A.Q.

Can an existing license be extended?

Yes. If a company wishes to add new services, it must apply to the Bank of Lithuania for amendments to the license and demonstrate compliance with the updated capital and infrastructure requirements.

How long does it take to obtain a license?

Provided a complete document package is submitted, the process usually takes 3–6 months. Complex structures or incomplete applications may extend the timeframe.

Our clients