CASP licence via CySEC: €10,000 and a clock set by law
- FEE
- €10,000
- STATUTORY
- 65 days
- ISSUED
- 25
In short. Cyprus files a MiCA application for ten thousand euros, the lowest of the jurisdictions worth comparing. The clock is written into the statute rather than left to the queue: twenty-five working days for the regulator to confirm the file is complete, forty more to decide. Twenty-five providers hold a Cypriot authorisation, and that licence serves clients across all twenty-seven member states.
- APPLICATION FEE
- €10,000paid with the filing
- CLASS 1 CAPITAL
- €50,000advice, orders, portfolios
- CLASS 2 CAPITAL
- €125,000adds custody and exchange
- CLASS 3 CAPITAL
- €150,000operating a trading platform
- STATUTORY CLOCK
- 25 + 40working days, by law
- AUTHORISED HERE
- 25providers with a Cypriot licence
Cyprus had a crypto register before MiCA existed
The country amended its anti-money-laundering law in February 2021 and, on 25 June 2021, CySEC published the directive that created a national register of crypto-asset service providers. Registration was mandatory for anyone serving Cypriot clients on a professional basis, whether or not the firm was registered elsewhere in the EU.
That register is why the regulator arrived at MiCA with files, staff and a working process rather than with a blank page. CySEC stopped accepting applications under the old regime on 17 October 2024, ahead of MiCA applying to service providers that December.
What the ten thousand buys
The application fee is €10,000, paid when the file goes in. It is the fee, not the cost: the capital sits behind it, and so does everything a complete file needs.
Capital follows the three MiCA classes, identical across the union. Fifty thousand euros for advice, order execution and portfolio management. A hundred and twenty-five thousand once custody or exchange is involved. A hundred and fifty thousand to run a trading platform. A firm holds the greater of that figure and one quarter of its previous year's fixed overheads, at all times rather than on the day it applies.
The clock is in the statute
CySEC has twenty-five working days to confirm that an application is complete, then forty working days to assess it and issue a reasoned decision. That is about three months of statutory time from a complete file.
Practice runs longer, four to six months for a well-prepared application, because the clock stops while the regulator waits for missing documents. The statutory figures are a floor on speed, not a promise about the calendar.
Why a firm picks Cyprus
The licence is the same licence everywhere: MiCA is a regulation, and a Cypriot authorisation carries the same rights as a German or Maltese one. What differs is the filing fee, the length of the queue and how familiar the regulator is with crypto files.
Cyprus is cheap to file in and had three and a half years of CASP supervision before MiCA. Twenty-five providers hold the authorisation here, against twenty-three in Malta, thirteen in Luxembourg and five in Finland.
Two deadlines that have passed
Firms already on the Cypriot register had to lodge a complete MiCA application by 27 February 2026 to keep operating during the transition. The EU-wide transition then closed on 1 July 2026.
Both dates are behind us. A provider serving EU clients today either holds the authorisation or is breaking EU law, and the registers are where you check which.
What it costs
| Stage | What it costs | How long |
|---|---|---|
| Application fee | €10,000 | paid at filing |
| Completeness check | included | 25 working days |
| Assessment and decision | included | 40 working days |
| Capital, class 1 | €50,000 | held at all times |
| Capital, class 2 | €125,000 | held at all times |
| Capital, class 3 | €150,000 | held at all times |
How an application runs
- 1Incorporate a Cypriot company and appoint directors who meet the fit-and-proper test.
- 2Hold the capital for your class, or a quarter of last year's fixed overheads if that is larger.
- 3File with CySEC and pay the €10,000 fee.
- 4Twenty-five working days: the regulator confirms the file is complete or asks for what is missing.
- 5Forty working days: assessment and a reasoned decision, after which the licence passports across the EU.
Timeline
Cyprus amends its anti-money-laundering law to cover crypto-asset services.
CySEC publishes the directive creating the national CASP register.
CySEC stops accepting applications under the old national regime.
Deadline for registered firms to lodge a complete MiCA application.
The EU-wide transition closes.
Questions
What does an application cost?
€10,000 as the CySEC fee, plus the minimum capital for your class.
How long does it take?
Twenty-five working days to confirm completeness and forty to decide. In practice four to six months, because the clock stops while documents are missing.
How much capital do I need?
€50,000, €125,000 or €150,000 by class, or a quarter of last year's fixed overheads if that is greater.
Does a Cypriot licence work elsewhere in the EU?
Yes. It passports to the other twenty-six member states by notification.
Why is Cyprus popular for this?
The lowest filing fee of the comparable jurisdictions, and a regulator that ran a national CASP register from 2021.
Sources
Updated 08.10.2026 · this is reference material, not legal advice