Ireland's CBI VASP & MiCA CASP Framework
Ireland implemented VASP registration requirements under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010, significantly updated by the 2021 and 2024 Amendment Acts to implement the EU's 5th and 6th Anti-Money Laundering Directives. The CBI maintains the VASP register and conducts detailed AML fitness reviews including background checks on directors and beneficial owners.
Ireland's appeal for crypto licensing is well-established: Coinbase Europe, Coinbase Custody, and Kraken are among the major crypto firms that established their European headquarters in Ireland, drawn by the 12.5% corporate tax rate, English common law, skilled workforce, and EU market access. Under MiCA, the CBI is Ireland's designated competent authority, making an Irish CASP licence the gateway to EU passporting from a low-tax base.
Tax advantage: Ireland's 12.5% corporation tax on trading income is among the lowest in the EU. Combined with MiCA passporting, this makes Ireland particularly attractive for crypto firms needing EU access with efficient tax structuring. Note: OECD Pillar Two 15% global minimum applies to multinationals with €750m+ revenue.
Ireland CBI Crypto Licence — Key Requirements
How to Get an Irish Crypto Licence — Step by Step
Incorporate an Irish Private Limited Company (Ltd) with the Companies Registration Office (CRO). Establish a genuine physical office in Ireland. Appoint at least two Irish-resident directors or demonstrate real substance. Inject required capital.
2–3 weeksRequest a pre-application meeting with the CBI's FinTech unit. The CBI encourages early engagement and can provide clarity on requirements specific to your business model. This step is highly recommended.
2–4 weeksDevelop the full CASP application: AML/CFT framework, business plan with 3-year financial projections, governance documentation, fit & proper packs for all directors and significant shareholders, IT security policy, and risk assessment.
4–8 weeksFile the complete CASP application with the CBI. The CBI reviews completeness, then commences formal assessment. Expect queries and requests for additional information. Respond promptly to minimise delays.
3–6 monthsCBI issues the CASP authorisation. Commence operations with ongoing CBI reporting. File EU passporting notifications via the ESMA procedure for each target EU member state.
Authorisation issuedIreland Crypto Licence — Full Cost Breakdown
| Item | Details | Approx. Cost |
|---|---|---|
| CBI application fee | Non-refundable regulatory fee | €5,000–€15,000 |
| CBI annual levy | Ongoing supervision cost | Varies by asset size |
| Company formation | Irish Ltd incorporation, CRO registration | €1,500–€3,000 |
| Registered office / substance | Office lease, Year 1 | €12,000–€30,000/yr |
| Legal & compliance | Application prep, AML framework, CBI liaison | €20,000–€60,000 |
| Estimated Year 1 Total (excl. capital) | Setup, regulatory, office, professional | €50,000–€120,000 |