Want to start a crypto company in Europe? That’s awesome! But wait—do you need a license? Yes, you do. And guess what? Not all licenses cost a fortune. Let’s explore the cheapest crypto licenses in Europe without making our wallets cry.
Why You Need a Crypto License
Think of a crypto license as your first-class ticket to running a legit crypto business. Without it, you might face fines, shut-downs, or worse—angry users. A license shows that your business follows the rules, fights dirty money, and keeps user data safe.
What Makes a Crypto License “Cheap”?
A cheap license doesn’t just mean a low fee. It’s about:
- Low government fees
- Simple requirements
- Affordable legal help
- Easy and fast approvals
So, let’s dive into the top places in Europe where crypto licenses come with a friendlier price tag!
1. Lithuania
This tiny Baltic country is big on crypto. And cheap!
- License type: Virtual Asset Service Provider (VASP)
- Setup time: As little as 30 days
- Cost: Starting from €2,500
Lithuania makes it super easy. You don’t even need to live there. Many startups go here first. It’s the go-to option for crypto businesses on a budget.
2. Estonia
Estonia was the original cool kid on the crypto block. It revamped its rules in 2022, but still offers good value.
- License type: Crypto Wallet and Exchange License
- Setup time: Up to 3 months
- Cost: Around €10,000 including local representatives and legal help
It’s pricier than Lithuania but still affordable compared to Western Europe. Plus, Estonia is tech-friendly. It’s the land of e-Residency, after all!
3. Poland
Low cost, fast process, and no nonsense. Poland is an underdog in the race but definitely worth your attention.
- License type: Registration as virtual currency activity
- Setup time: About 3 weeks
- Cost: Starting at €1,500
There’s no official license in Poland; instead, you register with authorities. But still, it’s legally good to go. And it’s one of the fastest in the EU!
4. Czech Republic
This one is excellent if you want a central European base.
- License type: Trade License (for crypto-related services)
- Setup time: 2 to 4 weeks
- Cost: Around €3,000 with legal help
You’ll need a local address and a bit of paperwork. But once it’s done, you’re free to roll. No big deposits or wild requirements.
5. Bulgaria
Want to operate in the EU but keep it simple? Say hi to Bulgaria.
- License type: Registration as a crypto provider (not an official “license”)
- Setup time: About 4 weeks
- Cost: From €2,000
It’s an emerging crypto destination. You’ll need basic compliance and a local office. But it’s a low-cost way to get started in the EU.
A Quick Price Comparison
| Country | License Type | Starting Cost | Setup Time |
|---|---|---|---|
| Lithuania | VASP license | €2,500 | 30 days |
| Estonia | Crypto Exchange/Wallet | €10,000 | 3 months |
| Poland | Activity Registration | €1,500 | 3 weeks |
| Czech Republic | Trade License | €3,000 | 2–4 weeks |
| Bulgaria | Crypto Registration | €2,000 | 4 weeks |
What You’ll Usually Need
Most countries ask for:
- Your passport and company documents
- Proof of no criminal record
- An Anti-Money Laundering (AML) plan
- A local office or director (sometimes)
Final Thoughts
Getting a crypto license in Europe doesn’t have to cost a fortune. These five countries offer a great mix of low costs and easy rules. Whether you’re launching a crypto wallet, exchange, or service, these spots can help you start smart.
So go ahead—pick the right country, get that license, and build your dream crypto company!