Why Choose Lithuania for Your Crypto Licence?
Lithuania emerged as a preferred EU crypto licensing destination after Estonia tightened its VASP regime in 2022. The Bank of Lithuania has invested significantly in its fintech regulatory capabilities and operates a dedicated Fintech Hub that provides pre-application guidance — a rare and valuable resource for businesses planning their licence application.
With over 300 fintech companies licensed in Lithuania, the jurisdiction has a mature ecosystem: specialist compliance lawyers, experienced crypto-friendly banks, and a regulator familiar with novel crypto business models. This matters enormously when your business involves DeFi elements, tokenised assets, or staking products that require regulatory interpretation.
Lithuania's UAB (Uždaroji akcinė bendrovė) — equivalent to a private limited company — can be incorporated quickly and inexpensively. The EUR 125,000 minimum capital requirement is higher than Poland or Slovakia but significantly lower than Estonia (post-2022) or the UK's FCA authorisation.
MiCA advantage: Lithuania is considered one of the most MiCA-prepared NCAs in the EU. Businesses applying for VASP authorisation now effectively apply under a framework already aligned with MiCA CASP requirements — meaning less rework when transitioning to full MiCA authorisation before July 2026.
Lithuania VASP Requirements
Lithuania's VASP framework under the Law on the Prevention of Money Laundering and Terrorist Financing requires all entities providing virtual currency exchange, custody, or transfer services to obtain authorisation from the Bank of Lithuania before commencing operations.
- UAB (limited liability company) incorporated in Lithuania
- Minimum share capital of EUR 125,000 — fully paid-up before authorisation
- Registered office and real operational presence in Lithuania
- AML/CFT Compliance Officer — must meet Bank of Lithuania fit-and-proper requirements
- Senior management with demonstrable crypto and financial services experience
- Clean criminal background checks for all directors and UBOs (shareholders >25%)
- Complete AML/CFT policy suite aligned with Bank of Lithuania guidelines
- Written information security and cybersecurity policy
- Customer complaint handling procedure
- Business continuity plan
- 3-year business plan with financial projections
- Description of IT systems and wallet infrastructure (for custody activities)
How to Get a Lithuanian Crypto Licence — Step by Step
Optionally use the Bank of Lithuania's Fintech Hub for a pre-application meeting. This non-binding discussion allows you to confirm your business model is compatible with the licensing framework and understand current expectations — invaluable for novel crypto products.
Week 1–2 (optional)Register a UAB with the Lithuanian Centre of Registers (Registrų centras). Deposit EUR 125,000 share capital in a Lithuanian bank account. Establish a real office presence in Lithuania (even a small serviced office qualifies). Appoint directors and a compliance officer with the required experience.
Weeks 2–4Prepare all compliance documentation: AML/CFT risk assessment, CDD/EDD procedures, transaction monitoring policy, STR procedures, IT security policy, business continuity plan, and complaint handling procedure. All documents must be in Lithuanian or accompanied by certified Lithuanian translations when submitted to the Bank of Lithuania.
Weeks 3–6File the complete VASP authorisation application via the Bank of Lithuania's ESAP portal. Application fee: EUR 1,018. The Bank of Lithuania has 30 business days to assess completeness and 3 months from acknowledgement of a complete application to issue a decision.
Week 6–7The Bank of Lithuania reviews the application and typically issues one or two rounds of clarification requests. Respond promptly and completely. Upon successful review, authorisation is granted and your entity is listed in the public VASP register. Annual supervisory fee applies (approximately EUR 2,500–5,000).
Weeks 7–12Lithuania Crypto Licence — Cost Breakdown
| Item | Details | Approx. Cost |
|---|---|---|
| UAB incorporation | Centre of Registers, notary, bank account | EUR 800–2,000 |
| Share capital | Minimum EUR 125,000 — stays in company | EUR 125,000 |
| Application fee | Bank of Lithuania VASP authorisation | EUR 1,018 |
| Annual supervisory fee | Ongoing Bank of Lithuania fee | EUR 2,500–5,000/yr |
| AML/CFT program development | Bespoke policies, risk assessment | EUR 2,500–5,000 |
| Compliance officer (Year 1) | Lithuanian-resident AMLCO retainer | EUR 5,000–12,000/yr |
| Registered office (Year 1) | Physical office in Lithuania | EUR 2,000–5,000/yr |
| Legal & advisory (CryptoLicenses.net) | End-to-end engagement | EUR 6,000–12,000 |
| Total (Year 1, excl. share capital) | Setup + first-year running costs | EUR 20,000–37,000 |