MiCAR Licensing in Lithuania: Your Gateway to the EU Crypto Market
Lithuania has transitioned from its previous VASP (Virtual Asset Service Provider) registration to a more rigorous CASP license overseen by the Bank of Lithuania and the FCIS (Financial Crime Investigation Service). This change ensures compliance with the EU-wide MiCA regulations.
Navigate MiCA with Startuppia: Expert CASP Licensing, Documentation, and Tailored Packages for Your Success.
What is MiCAR? Understanding the EU's Crypto Framework
The Markets in Crypto-Assets Regulation (MiCAR) is a landmark EU-wide framework designed to bring regulatory clarity and harmonization to the crypto-asset space. It covers rules for Crypto-Asset Service Providers (CASPs) and the issuance of various crypto-assets, including stablecoins and e-money tokens on blockchain. MiCAR aims to foster innovation while ensuring consumer protection, market integrity, and financial stability. This regulation is pivotal for companies looking to operate or offer crypto services within the European Union, as it will play a significant role in capital-raising and provide new, efficient means of payment. It's also set to stimulate growth in the blockchain sector and create new opportunities.
CASP License Under MiCAR: Requirements & Covered Activities
MiCAR defines several classes of CASPs based on the services they offer, with varying minimum share capital requirements. Obtaining a CASP license in an EU member state like Lithuania allows you to "passport" your services across the entire EU.
Essential Documentation Frameworks for Your CASP License
A successful MiCAR application hinges on robust internal policies and procedures. Startuppia will guide you in developing and implementing these critical frameworks:
Key Requirements
The following table outlines the structural and financial requirements for obtaining a CASP license in Lithuania:
| Feature | Requirement |
|---|---|
| Legal Entity | Lithuanian UAB (Private Limited Liability Company) |
| Minimum Share Capital | €50,000 / €125,000 / €150,000 (Depends on Service Class) |
| Local Presence | Physical office in Lithuania required |
| Local Personnel | Mandatory MLRO (Anti-Money Laundering Reporting Officer) resident in Lithuania |
| Management | Board members must pass "Fit & Proper" background checks |
| Supervisory Body | Bank of Lithuania (BoL) and FCIS |
| Licensing Timeline | 4 to 6 months (estimated) |
| EU Passporting | Included (can offer services across all 27 EU member states) |
CASP Service Classes & Capital Requirements
Under MiCA, capital requirements are determined by the specific services your company intends to offer:
| Class | Authorized Services | Min. Capital |
|---|---|---|
| Class 1 | Advice on crypto-assets, portfolio management, execution of orders, placement, and reception/transmission of orders. | €50,000 |
| Class 2 | Custody and administration of crypto-assets, and exchange of crypto-assets for funds or other crypto-assets. | €125,000 |
| Class 3 | Operation of a crypto-asset trading platform. | €150,000 |
Our MiCAR Licensing Packages for Lithuania
Choose the package that best suits your startup's needs and existing capabilities.
INITIAL PACKAGE
€12,000
A complete set of MiCA-compliant legal framework and internal policy templates. Developed in accordance with ESMA guidelines and current regulatory requirements. List of frameworks included available upon request.
Does not include personalized legal support beyond documentation provision.
Ideal for: Projects with an established in-house legal/compliance team capable of adapting and implementing policies independently.
SUPPORTING PACKAGE
€15,000 (Additional hours: €250 + VAT/hour)
Includes 50 hours of dedicated legal support. Tailored assistance in preparing specific documentation for your MiCA application based on your business needs and allocated hours.
Flexible, expert-level guidance without providing a complete set of pre-made legal framework templates.
Ideal for: Companies with an in-house legal team needing targeted advice or support on select regulatory frameworks.
LEGAL FRAMEWORKS PACKAGE
€35,000
Comprehensive review of your business model & recommendations for the business plan.
Development of core MiCA-compliant frameworks (Internal Governance, Business Continuity, Financial Reporting, Customer Relations, Compliance Management, Risk Management, ICT & Cybersecurity).
Integration of Travel Rule requirements. Design of a tailored employee training program.
Full set of MiCA & ESMA-aligned internal policy templates.
Customization of frameworks to your business model. Includes 285 hours of legal advisory support up to application submission.
Ideal for: Startups needing end-to-end support in developing their legal architecture and regulatory readiness.
LEGAL FRAMEWORK + INCORPORATION
€45,000
Includes everything in the "Legal Frameworks Package" (€35,000 option).
PLUS: Full company incorporation from scratch in Lithuania. Assistance with opening a start-up bank account for share capital contribution.
Preparation and delivery of all required corporate documents.
Assistance with NSC (National Sanctions Checklist) screening.
Ideal for: Projects starting from zero, offering full incorporation and legal setup services alongside MiCA framework development.
COMPLETE PACKAGE (Turnkey Solution
€55,000
All services from the "Legal Framework + Incorporation" package.
PLUS: Personalized Legal & Regulatory Consulting (2 Months), including weekly strategic sessions (3 hrs/month) and roadmap development.
HR & Compliance Support: Assistance in recruitment & integration of one C-Level executive;
AML Certification Platform access for 3 employees (training included).
Dedicated Project Management for 2 months.
CRM Access (ClickUp) for 3 months for full transparency and real-time visibility.
Subscription extensions for ongoing project management available.
Ideal for: Companies seeking comprehensive, hands-on support through the entire MiCA licensing journey – a true turnkey solution.
The MiCAR Licensing Process with Startuppia
While the full process can take several months (approx. 18-26+ weeks according to typical regulatory timelines, including Bank of Lithuania evaluation periods), we help with your preparation:
Project Kick-off: Business model review, adjust business plan, finalize HR needs.
Legal Entity & Infrastructure: Incorporate legal entity, trademark registration, arrange office (if needed), set up primary IT infrastructure (SaaS, KYC/KYT, Travel Rule solution).
Framework Development: Set up all required legal and operational frameworks (Compliance, Governance, Risk, ICT, Business Continuity, AML, Financial Reporting, Customer Relations). Arrange IT audit for DORA.
HR & Training: Recruit key personnel, conduct trainings.
Application Submission: Consolidate all documents and submit the application to the Bank of Lithuania.
Regulatory Review: The Bank of Lithuania evaluates completeness (approx. 25 working days) and then conducts a full evaluation (approx. 40 working days). This period can be extended if clarifications or additional documents are requested.
Startuppia supports you through each stage, especially in preparing the comprehensive documentation required by the Bank of Lithuania.