Сrypto license in popular jurisdictions
EU (MiCA)
Switzerland (CASP)
Canada (MSB)
El Salvador (DASP)
UAE (VARA)
Mauritius (VASP)
Georgia (TFZ)
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