Basic comparison of crypto licenses in popular jurisdictions — Fintech Harbor Consulting

Fast Track Company Reg

Basic comparison of crypto licenses in popular jurisdictions

EU (MiCA)

Minimum Initial Capital

Class 1. Order management €50 000
Class 2. VASP €125 000
Class 3. Trading platform €150 00

Permitted activities

Class 1

Conducting client transactions
Positioning of crypto-assets
Facilitating orders for others
Client-focused crypto-asset transfers
Overseeing client crypto-orders
Crypto-asset consulting
Crypto-asset portfolio management

Class 2

Any crypto-asset services specified in Class 1
Providing custody and administration of crypto-assets on behalf of clients
Exchange of crypto-assets against funds
Exchange of crypto-assets against other crypto-assets

Class 3

Any crypto-asset services specified in Class 1 and Class 2
Trading platform for crypto-assets services.

Corporate income tax rates

Depends on each particular EU jurisdiction

Timeline of receipt

Up to 5 months

Switzerland (CASP)

Minimum Initial Capital

CHF 20,000

Permitted activities

Main services:

Cryptocurrency trading
Crypto asset management
Cryptocurrency exchange
Custodial services
Token issuance services

Additional services with a custom legal opinion:

Institutional OTC
On/ off ramp of crypto to fiat
Market Making
Collateralised lending
Escrow services
Launchpad
Secure crypto assets for clients: cold wallet storage for institutional or retail clients; multi-signature wallet management
Stake
ICO

Corporate income tax rates

Federal: 8.5%

Effective: from 17.9% to 21.0%

Timeline of receipt

Up to 6 months

Canada (MSB)

Minimum Initial Capital

No requirements

Permitted activities

Provision of payment services.
Foreign exchange dealing.
Dealing in virtual currency (includes all activities for Polish VASP except custody).
Crowdfunding platform.
Money transferring.
Issuing or redeeming money orders.

Corporate income tax rates

Federal:15% British Columbia:12% Effective: 27%

Timeline of receipt

Up to 7 months

El Salvador (DASP)

Minimum Initial Capital

€1920, with 5% paid at the time of company formation

Permitted activities

Crypto exchanges
Wallet services
Payments
Tokenization
ICOs
Lending
Investment
Margin trading
Stablecoin operations

Corporate income tax rates

0%

Timeline of receipt

Up to 3 months

UAE (VARA)

Minimum Initial Capital

Starts from AED 600,000

Permitted activities

Crypto exchanges
Wallet services
ICOs
Asset management
Payment solutions
DeFi

Corporate income tax rates

0% on profits up to 375,000 AED

9% on profits exceeding 375,000 AED

Timeline of receipt

Up to 5 months

Mauritius (VASP)

Minimum Initial Capital

Paid up non-frozen USO 45k share capital for class «M» license

Permitted activities

Class M

Crypto exchanges
Asset custody
Brokerage services
Advisory services

Corporate income tax rates

3% effective CIT

Timeline of receipt

Up to 6 months

Georgia (TFZ)

Minimum Initial Capital

No requirements

Permitted activities

Crypto exchanges
P2P operations
Wallet services
Token trading
DeFi

Corporate income tax rates

15%

Timeline of receipt

Up to 1 month

Back

Basic comparison of crypto licenses in popular jurisdictions

Jurisdiction	EU (MiCA)	Switzerland (CASP)	Canada (MSB)
Minimum Initial Capital	Class 1. Order management €50 000 Class 2. VASP €125 000 Class 3. Trading platform €150 000	CHF 20,000	No requirements
Permitted activities	Class 1 Conducting client transactions Positioning of crypto-assets Facilitating orders for others Client-focused crypto-asset transfers Overseeing client crypto-orders Crypto-asset consulting Crypto-asset portfolio management Class 2 Any crypto-asset services specified in Class 1 Providing custody and administration of crypto-assets on behalf of clients Exchange of crypto-assets against funds Exchange of crypto-assets against other crypto-assets Class 3 Any crypto-asset services specified in Class 1 and Class 2 Trading platform for crypto-assets services.	Main services: Cryptocurrency trading Crypto asset management Cryptocurrency exchange Custodial services Token issuance services Additional services with a custom legal opinion: Institutional OTC On/ off ramp of crypto to fiat Market Making Collateralised lending Escrow services Launchpad Secure crypto assets for clients: cold wallet storage for institutional or retail clients; multi-signature wallet management Stake ICO	Provision of payment services. Foreign exchange dealing. Dealing in virtual currency (includes all activities for Polish VASP except custody). Crowdfunding platform. Money transferring. Issuing or redeeming money orders.
Corporate income tax rates	Depends on each particular EU jurisdiction	Federal: 8.5% Effective: from 17.9% to 21.0%	Federal:15% British Columbia:12% Effective: 27%
Timeline of receipt	Up to 5 months	Up to 6 months	Up to 7 months
	Get all info	Get all info	Get all info

Basic comparison of crypto licenses in popular jurisdictions

Jurisdiction	El Salvador (DASP)	UAE (VARA)	Mauritius (VASP)	Georgia (TFZ)
Minimum Initial Capital	€1920, with 5% paid at the time of company formation	Starts from AED 600,000	Paid up non-frozen USO 45k share capital for class «M» license	No requirements
Permitted activities	Crypto exchanges Wallet services Payments Tokenization ICOs Lending Investment Margin trading Stablecoin operations	Crypto exchanges Wallet services ICOs Asset management Payment solutions DeFi	Class M Crypto exchanges Asset custody Brokerage services Advisory services	Crypto exchanges P2P operations Wallet services Token trading DeFi
Corporate income tax rates	0%	0% on profits up to 375,000 AED 9% on profits exceeding 375,000 AED	3% effective CIT	15%
Timeline of receipt	Up to 3 months	Up to 5 months	Up to 6 months	Up to l month
	Get all info	Get all info	Get all info	Get all info

Back

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.

Necessary

Always Enabled

Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.

Cookie	Duration	Description
cookielawinfo-checkbox-advertisement	1 year	Set by the GDPR Cookie Consent plugin, this cookie records the user consent for the cookies in the "Advertisement" category.
cookielawinfo-checkbox-analytics	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional	11 months	The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
CookieLawInfoConsent	1 year	CookieYes sets this cookie to record the default button state of the corresponding category and the status of CCPA. It works only in coordination with the primary cookie.
elementor	never	The website's WordPress theme uses this cookie. It allows the website owner to implement or change the website's content in real-time.
viewed_cookie_policy	11 months	The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.

Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.

Cookie	Duration	Description
__cf_bm	30 minutes	Cloudflare set the cookie to support Cloudflare Bot Management.
pll_language	1 year	Polylang sets this cookie to remember the language the user selects when returning to the website and get the language information when unavailable in another way.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.

Cookie	Duration	Description
_fbp	3 months	Facebook sets this cookie to display advertisements when either on Facebook or on a digital platform powered by Facebook advertising after visiting the website.
_ga	1 year 1 month 4 days	Google Analytics sets this cookie to calculate visitor, session and campaign data and track site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognise unique visitors.
_ga_*	1 year 1 month 4 days	Google Analytics sets this cookie to store and count page views.
_gat_UA-*	1 minute	Google Analytics sets this cookie for user behaviour tracking.n
_gcl_au	3 months	Google Tag Manager sets the cookie to experiment advertisement efficiency of websites using their services.
_gid	1 day	Google Analytics sets this cookie to store information on how visitors use a website while also creating an analytics report of the website's performance. Some of the collected data includes the number of visitors, their source, and the pages they visit anonymously.

Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.

Cookie	Duration	Description
fr	3 months	Facebook sets this cookie to show relevant advertisements by tracking user behaviour across the web, on sites with Facebook pixel or Facebook social plugin.

Others