Get a Crypto License in Spain

Development of the cryptocurrency sector in Spain

In recent years, Spain has become one of the key hubs for financial technology. The cryptocurrency sector is actively developing in the country, and with a population of over 46 million and a high level of digitalization, the market is especially attractive for new players and international companies looking to expand. Obtaining a crypto license in Spain is not just a formality but a necessary requirement for legal market presence.

Today, a cryptocurrency license in Spain is a fully-fledged legal tool that grants the status of a regulated provider of virtual asset services (VASP). The license enables activities such as crypto-to-fiat exchange, wallet services, virtual currency management, and the provision of regulated financial services. An additional advantage is Spain’s EU membership, which allows Spain the cryptocurrency license to be used within the framework of EU regulation and access to the single market.

Key features:

• Grants the status of a regulated Virtual Asset Service Provider (VASP)
• Covers crypto-to-fiat exchange, wallet, and asset management services
• Regulated by the Bank of Spain with a focus on security and AML
• Complies with MiCA standards and ensures legal clarity
• Requires a business model description, AML/KYC policy, and capital structure
• Provides access to the entire EU market due to Spain’s EU membership
• Suitable for both new FinTech companies and global crypto exchanges

With the implementation of the MiCA (Markets in Crypto-Assets Regulation), legal harmonization with the rest of Europe has increased. This provides companies with transparent and stable operating rules. Legal certainty is especially important for those launching crypto exchanges or offering digital wallets. The main regulatory body is the Bank of Spain, responsible for compliance with all requirements, safety control, user protection, and AML regulations.

The licensing process is strict but manageable. Companies must strategically prepare by defining the type of activity, providing information on capital structure, describing the client onboarding process, and submitting internal AML/KYC policies. This level of thoroughness is necessary to ensure the stability of the virtual asset market and reliable protection of its participants.

For FinTech companies entering the market, as well as large global crypto exchanges seeking a legal presence in the EU, understanding the requirements and advantages of cryptocurrency licensing in Spain is a key step toward long-term success. The Spain offers a unique combination: a clear regulatory framework, access to the vast European market, a modern banking infrastructure, and the reputation of a stable economy. The growth potential is high, but only crypto companies that obtain the appropriate cryptocurrency license and comply with current regulations will be able to seize it.

Why Spain is one of the best jurisdictions for crypto business in the EU

Spain is considered one of the top European jurisdictions for launching a cryptocurrency company. This is due to transparent regulation, a well-developed financial and digital infrastructure, and a government-friendly approach toward innovation in the digital asset space. Below are the key advantages that make Spain an optimal choice for obtaining a crypto license and entering the EU market.

1. Harmonized legal framework (MiCA implementation)
Since the entry into force of the MiCA (Markets in Crypto-Assets Regulation), Spain provides a clear and consistent legal and financial environment for crypto companies.

• Legal certainty for all virtual asset service providers
• Passporting rights for offering services across the EU
• Compliance with AML, security, and investor protection standards

2. Advanced financial and digital infrastructure
The Spain offers a sophisticated banking and telecommunications system, with oversight by the Banco de España – the national regulator responsible for company licensing.

• Access to banks, including international institutions
• Modern digital platforms and IT infrastructure
• Fast processing of fiat and crypto payments

3. Tax and business incentives

Spain has initiatives to attract crypto businesses, including simplified licensing and support for the digital economy.

• Corporate tax rate of 25%
• VAT exemption on exchange services
• Special incentives for fintech and digital assets
• Legal mechanisms for tax planning and profit repatriation

4. Reputation as a stable and regulated market
Spain is known for its transparent and predictable jurisdiction, ideal for building long-term relationships with clients and partners.

• Transparent business environment
• Cooperation with international regulators
• Access to the dynamic EU crypto market

5. Full access to the EU market
By obtaining a crypto license in Spain, a company automatically gains access to all EU member states under MiCA.

• No need for additional cryptocurrency licenses in other EU countries
• Scalability and cross-border operations
• Access to millions of users across Europe

6. Flexible business structures and low entry barrier
The government offers various legal forms of registration and allows remote business operations.

• Low minimum share capital for startups and SMEs
• Option to register a virtual office
• Suitable for both large exchanges and niche service providers

7. Supportive regulatory environment and clear licensing procedure
The Banco de España ensures a transparent and predictable licensing process.

• Licensing timeframe: 2-4 months
• Step-by-step application and approval procedures
• Clear guidance and regularly updated requirements

8. Strict AML and security requirements
Spain promotes a high level of operational control and internal compliance standards.

• Mandatory AML training for employees and directors
• Appointment of an AML/Compliance Officer
• Regular audits – either external or by the regulator

Who benefits from starting a crypto business in Spain

Spain is an optimal jurisdiction for the following categories of market participants:

• Startups launching new crypto exchanges or digital wallet platform
  
• Companies seeking to scale within the EU market
  
• Payment institutions offering money transfer services using digital currencies
  
• FinTech teams developing DeFi solutions, tokenization, and digital asset management
  
• Investors and founders looking for a predictable and low-risk regulated environment

Regardless of the chosen business model, Spain provides the necessary infrastructure, legal certainty, and market access for the sustainable growth of crypto companies.

Prifinance supports companies at every stage of market entry – from selecting a legal structure and preparing documentation to obtaining a crypto license, setting up compliance frameworks, and launching operations. We ensure full compliance with the requirements of the Banco de España and the MiCA regulation so your business operates legally, reliably, and without delays.

Comparison: Spain vs. other EU countries for crypto business

When choosing a jurisdiction to establish a crypto company, especially an exchange or virtual asset service provider, it is essential to compare key European markets. Despite the regulatory harmonization introduced by the MiCA regulation, notable differences between countries still remain in terms of cost, regulatory strictness, tax policies, and business freedom.

Country	Cost	Processing time	Regulator’s approach	Taxation	Market access	Minimum capital	Local office required	AML/Compliance level
Spain	Medium	2–4 months	Transparent, modern	Competitive	EU-wide (MiCA)	Moderate	Yes (can be virtual)	High
Lithuania	Low	1–3 months	Business-friendly	Low	EU-wide (MiCA)	Low	Yes	Medium
Estonia	Medium	2–3 months	Digital, efficient	Standard	EU-wide (MiCA)	Moderate	Yes	High
Germany	High	4–6 months	Strict, bureaucratic	High	EU-wide (MiCA)	High	Yes	Very high

Detailed comparison

Spain
The Spain offers a modern legal framework and clearly defined requirements for cryptocurrency licensing. The licensing procedure is transparent, supported by the Banco de España, and suitable for both startups and large platforms.

• Medium startup costs
• Transparent and efficient application procedure
• Access to the entire EU market
• Consistent AML/KYC compliance
• Local office required (including virtual), with a reasonable level of share capital
• Competitive tax system
• Reputation as a financially stable EU jurisdiction
  

Lithuania
Popular among startups due to its low entry threshold. Before MiCA, it was known for fast crypto license issuance and minimal requirements, but with the implementation of EU-wide standards, Lithuania’s advantages have started to diminish.

• Low startup costs and licensing fees
• Fast approval
• Simplified compliance
• AML tightening has begun under MiCA

Estonia
A digital leader with a fast cryptocurrency licensing procedure. Previously offered favorable conditions, but requirements for office presence, directors, and reporting have been tightened.

• Very fast registration
• No tax on undistributed profits
• Virtual office is allowed, but a more pronounced physical presence is generally expected
• Reporting level comparable to Spain

Germany
The most complex and expensive jurisdiction for obtaining a cryptocurrency license. Suitable for large crypto companies with substantial resources.

• Highest requirements for capital, reporting, and AML
• Highest licensing costs
• Limited access for small businesses
• Prestigious but highly regulated environment

Regulatory oversight and ongoing compliance
Effective AML mechanisms and client verification are now mandatory in all EU countries. However, Spain stands out for its proactive regulatory stance:

• Regular publications and updates from Banco de España
• Transparent audit and reporting timelines
• Clear expectations for regulatory compliance

Taxation comparison:

• In Spain, the base corporate tax rate is 25%. Most crypto exchange and wallet providers are exempt from VAT.
• Lithuania offers some of the lowest taxes in the EU, but has less favorable international tax treaties.
• In Estonia, profits are taxed only upon distribution, which encourages reinvestment.
• In Germany, tax rates are among the highest in the EU, but this is offset by the prestige of the jurisdiction and its strong market reputation.

Company formation and office requirements

Country	Local office	Director residency	Required capital	Compliance burden
Spain	Virtual allowed	Yes	Medium	High
Lithuania	Yes	Yes	Low	Medium
Estonia	Virtual allowed	Yes	Medium	High
Germany	Yes	Yes	High	Very high

Requirements for obtaining a cryptocurrency license in Spain

The licensing process in Spain is multi-tiered and strictly regulated. The main supervisory authority is the Bank of Spain. Despite EU-level harmonization under MiCA, specific aspects, such as capital requirements, documentation, and registration procedures, remain national and must be complied with.

1. Establishment of a legal entity in Spain

• A legal entity must be incorporated in Spain, typically in the form of a Sociedad Limitada (S.L.).
• The company must be registered in the Spanish Commercial Registry.
• A registered office (physical or virtual) is mandatory.

2. Minimum capital requirements (in accordance with MiCA)

The required minimum capital depends on the type of services provided:

Type of service	Description	Minimum capital
Basic services	Brokerage services, core virtual currency services	€50,000
Crypto exchange / fiat-crypto exchange	Operation of a regulated exchange or trading platform	€125,000
Asset custody and trading platforms	Custodial and advanced services	€150,000

The capital must:

• Have a legal origin
• Be documented and verifiable
• Be deposited in a bank account in Spain
• Comply with AML legislation requirements

3. Office and management

• It is recommended to appoint at least one resident director responsible for legal and compliance matters.
• The office may be virtual, but must ensure operational communication with the regulator.
• An AML/Compliance Officer with proven experience in anti-money laundering is mandatory.

4. Compliance, AML, and information security policies

The company is required to:

• Develop and implement internal policies in line with national standards and MiCA
• Prepare procedures for regular audits and reporting
• Document the entire KYC process and client onboarding
• Develop and maintain an information security policy to protect client assets and accounts

5. Document preparation and submission

The required package includes:

• Articles of association and company registration documents
• Proof of paid-in capital and bank statement from a Spanish bank
• Identity documents, experience, and business reputation records of directors and UBO
• Lease agreement or confirmation of virtual office
• Business plan: service description, market analysis, target audience, fee structure, risk management strategy
• Policies: AML/CTF, compliance manual, IT security policy
• Agreements with suppliers and key partners
• Sample client agreement and example transactions

All documents must be translated into Spanish and submitted in the format required by the regulator.

Key requirements and legal standards:

• Legal qualifications: The company’s planned activities must comply with local legislation and the MiCA regulation.
  
• Financial transparency: Capital, revenues, and client transactions must be fully transparent and auditable.
  
• Office and presence: A registered office (virtual is allowed) is required for communication with the regulator and potential inspections.
  
• Client due diligence: A mandatory KYC process, including ongoing monitoring of client transactions.
  
• Fee structure: Full disclosure of all fees and charges in accordance with regulatory requirements.

AML, security, and audit:

• Ongoing AML and compliance training for all employees and directors.
• Regular audits of KYC and AML policies and procedures.
• Transaction reporting to the regulator, including reports on suspicious activities.
• Logging and backup of all digital operations, wallets, and accounts.
• Secure infrastructure for the storage of digital assets.

State fee and ongoing obligations:

• A state fee is payable upon application submission (set by the regulator and subject to annual change).
  
• After obtaining the cryptocurrency license, companies must submit annual financial statements, periodic compliance reports, and, if required, undergo external or regulatory audits.
  
• Depending on the type of activity and changes in regulation, license updates or resubmission may be necessary to meet new requirements.

Common mistakes and risk factors for rejection:

• Submission of incomplete or outdated documents
• Use of capital with unproven legal origin
• Lack of reliable compliance procedures
• Appointment of an unsuitable director or AML officer
• Absence of a proper physical or virtual office

Requirement	Details
Legal entity	Spanish company (S.L.), locally registered
Capital	€50,000–€150,000 depending on the service; proof and bank deposit required
Director	At least one, with professional qualifications and AML/CFT experience
Office	Registered address (virtual accepted)
Compliance and AML	Internal policy, AML/CFT officer, client onboarding process
Documents	Corporate documents, business plan, IT policy, compliance manuals, KYC forms, payment schedule
Application fee	Payable upon submission; required for review
Security and IT	Digital asset security policy, wallet and transaction storage
Audit and reporting	Regular audits and compliance reports to the regulator

The Prifinance team supports clients at every stage of obtaining a cryptocurrency license: from choosing the legal structure and preparing documentation to submitting the application and interacting with the Banco de España. We ensure compliance with MiCA requirements, minimize legal and operational risks, and accelerate market entry.

Registration of a crypto company in Spain: Stages and timeframes

Step 1: Strategic preparation
Before submitting the application, it is necessary to:

• Conduct a market and compliance analysis, define the business model, types of services, and target clients
• Determine the type of regulated activity under MiCA (exchange, wallet, platform, custodial services, etc.)
• Form the company structure, secure capital, and appoint directors
• Develop internal AML, compliance, and IT policies in accordance with local and EU legislation

Step 2: Company registration and bank account setup

• Register a legal entity in Spain (typically in the form of a Sociedad Limitada (S.L.)) and enter it into the Commercial Registry
• Open a bank account in a local bank and deposit the minimum capital (€50,000–150,000 depending on the activity type)
• Register a physical or virtual office

Step 3: Document preparation
Required documents include:

• Articles of incorporation and registration certificate
• Proof of capital deposit and legal origin of funds
• AML policy and compliance manual
• Information security and data protection policy
• Business plan: service description, fees, client onboarding procedures, transaction structure
• Resumes and references for directors and key personnel
• Templates of client agreements and sample transactional documents

All documents must be current, accurate, and compliant with the format required by the Bank of Spain. Official translation into Spanish may be required.

Step 4: Application submission to the regulator

• Submit the full documentation package to the Bank of Spain, the authorized regulatory body
• Pay the non-refundable state fee
• Receive confirmation of application receipt; the regulator may request additional documents or clarifications

Step 5: Review and audit

• The regulator examines the documentation, business plan, compliance policies, source of capital, and qualifications of appointed individuals
• Clarifications may be requested
• An audit may be conducted: document check, AML procedures, IT security (either on-site or via virtual office)

Step 6: Decision and registration

• Upon approval, a cryptocurrency license is issued, and the company is registered as an official Virtual Asset Service Provider (VASP)
• Company information is added to the public VASP register in accordance with Spanish law

Step 7: Post-license obligations and compliance

• Provision of licensed services to clients in Spain and the EU
• Regular updates to AML policies
• Submission of annual financial statements, periodic compliance reports, and audits if required
• Ongoing transaction monitoring, KYC updates, and reporting of suspicious activity

Timeframe
The average time required to complete the licensing process in Spain depends on the quality of documentation and the company’s level of readiness.

Stage	Estimated duration
Strategic planning and preparation	2–4 weeks
Company formation	1–2 weeks
Bank account and capital deposit	1 week
Document collection and preparation	2–4 weeks
Application submission	Immediate (after preparation)
Regulatory review and audit	6–12 weeks
Final decision and registration	1 week
Total estimated time	2–4 months

Factors that may affect the timeframe for obtaining a cryptocurrency license

• Document quality: Incomplete, incorrect, or untranslated documents (not in Spanish) can cause delays.
• Source of capital: Verification of the origin of funds and compliance with AML requirements may require additional time.
• Regulator workload: High workload at the Bank of Spain or legislative changes can impact review timelines.
• Business model complexity: The more complex the structure (e.g., a full-scale exchange with custodial services), the more thorough the regulatory review will be.

Step	Key actions	Participants
Planning	Business model, capital, director selection, compliance roadmap	Company founders, legal advisors
Formation	Company registration, office setup, bank account opening, capital deposit	Notary, bank, company directors
Documentation	Preparation and collection of all required documents and policies	Legal and compliance team
Application submission	Filing complete application with the regulator, paying the state fee	Directors, legal representatives
Review and audit	Regulator reviews, requests clarifications, possible audit	Bank of Spain, company directors
Approval and registration	License issuance, entry in the VASP register, license certificate issued	Bank of Spain, company directors
Post-licensing compliance	Regular audits, compliance updates, transaction and client monitoring	Compliance officers, directors

What to keep in mind at each stage

• Preparation: Have a clearly formulated business plan, a transparent description of capital sources, and a professional team of directors.
• Documents: Carefully review all documentation for factual errors.
• Submission: Submit a complete document package with proof of payment, and be prepared to respond to follow-up questions.
• Review and audit: Be ready to justify the business model and demonstrate KYC, AML systems, and security policies.
• Compliance: Regularly update internal processes in line with legal changes and market developments in the Spain.

Taxation of crypto companies in Spain

For cryptocurrency companies and exchanges planning to establish a business in Spain, it is important to understand the specifics of the tax system. While the legal environment is generally favorable to digital asset service providers, all licensed companies must comply with clear tax and reporting obligations. Thoughtful tax planning helps improve financial performance and ensures full compliance with local and EU regulations.

Corporate tax: The standard corporate income tax rate in Spain is 25% on net profit. This applies to all resident companies, including licensed service providers.

VAT (Value Added Tax): Crypto exchange and wallet services are exempt from VAT, as confirmed by rulings of Spanish and EU courts. However, auxiliary services may be subject to VAT depending on their nature.

Reporting: All companies are required to:

• Maintain full accounting records
• File annual tax returns
• Submit audited financial statements
• Keep detailed records of all transactions

Type of tax	Application to business
Corporate tax	25% on profit after allowable deductions and expenses
VAT	Exempt for most exchange/wallet operations, but applicable to some consulting or auxiliary fees
Capital gains tax	Applies to profits from cryptocurrencies held by the trading company or other digital assets
Withholding tax	May apply to certain outbound payments (e.g., interest or dividends to foreign shareholders)

Tax reporting and compliance

Licensed cryptocurrency companies in Spain are required to fulfill a range of tax and financial obligations. These include filing an annual corporate income tax return, quarterly VAT returns (if applicable), and maintaining a complete history of all digital asset operations, such as trading, exchange, wallet usage, and client activities.

Accounting for digital assets

All virtual assets must be recorded at market value on the date of the transaction, and profits or losses from price changes must be reflected in the annual report. Companies providing custodial or wallet services may, in some cases, be required to account for client funds off-balance sheet, in accordance with applicable standards.

Tax optimization opportunities

Spain offers a number of legal instruments for optimizing tax burden:

• Special tax regimes for fintech and crypto companies, including R&D (research and development) incentives
• Double taxation treaties with most EU countries and several jurisdictions outside the EU
• Flexibility in structuring holding cryptocurrency companies and international profit repatriation, especially for expanding businesses

Example: Taxation of a crypto exchange

A licensed exchange in Spain can generate income from transaction fees, exchange rates, and wallet services. These revenues are recorded in the company’s accounts. VAT is not applied to exchange operations but may apply to related services (e.g., consulting, API access, security features). Company expenses (salaries, IT, security, compliance costs) are deducted when calculating corporate tax. At the end of the year, a tax return is filed and a 25% corporate tax is paid on net profit.

Taxation of shareholders and directors

Dividends are subject to Spanish withholding tax (19–26%), with possible reduced rates under international treaties. Directors and employees pay personal income tax in Spain. Different tax regimes apply to non-residents – in such cases, international tax planning is recommended.

Obligation	Details
Annual financial report	Required, often with independent audit
Transaction reporting	All movements of crypto/fiat funds must be reported
Client account monitoring	Full KYC and source-of-funds records are required
Withholding tax	Applies to certain outbound dividends/payments
Regulatory fee	Annual fee for license renewal and compliance inspections

Tax compliance and auditing

Licensed cryptocurrency companies are required to:

• Submit annual and quarterly reports to both regulatory and tax authorities
• Be prepared for scheduled and unscheduled tax audits, conducted at the initiative of the tax authority
• In cases of violations, such as incomplete reporting, income understatement, or non-compliance with AML obligations – tax authorities may impose fines, suspend operations, restrict, or revoke the cryptocurrency company’s market access

How to ensure tax compliance

• Engage tax advisors with experience in cryptocurrency and digital asset accounting
• Use specialized accounting software to track all crypto transactions, wallet transfers, and fiat operations
• Continuously monitor changes in Spanish and EU tax legislation, especially regarding digital assets
• Maintain transparent accounting of all clients, operations, and partnerships

Prifinance experts assist cryptocurrency companies not only in obtaining a crypto license but also in building an effective tax model in compliance with Spanish and EU regulations. We support clients in reporting, structuring holding entities, contract analysis, and applying international double taxation treaties.

Key facts about obtaining a cryptocurrency license in Spain

Category	Description
Regulator	Bank of Spain
Legal framework	National legislation + MiCA regulation
Company form	Sociedad Limitada (S.L.), registered in the Commercial Registry
Office	Mandatory: physical or virtual
Minimum capital	From €50,000 to €150,000 depending on activity type (basic, exchange, custody)
Capital	Must be deposited in a Spanish account, with a verified source (under AML)
Director	Spanish resident with experience in law/compliance
AML/compliance	Mandatory internal policies, KYC, monitoring procedures, appointment of AML Officer
Security policies	Required: IT security, data protection, audit
License processing time	~2–6 months depending on business model and document quality
State fee	Set by the government, payable upon application
Reporting	Annual and quarterly, including financial, tax, and AML reports
Audit	Mandatory external audit for most cryptocurrency companies
Taxation	Corporate tax: 25%. VAT: not applied to crypto exchange, may apply to additional services
Tax reporting	Financial reporting, transaction history, proof of capital sources
Violations	Possible sanctions: fines, license revocation, business ban
License benefits	EU market access (passporting), legal certainty, transparent procedures
Role of Prifinance	Full support: from company registration to tax planning

 

Professionals trusted by companies across Europe

The Prifinance team consists of experts with deep legal, financial, and regulatory expertise in digital currency regulation, licensing, and taxation. Each of our specialists holds relevant academic qualifications, proven experience working with European regulators, and practical knowledge in supporting projects in accordance with MiCA, AML/KYC requirements, as well as corporate and tax legislation in Spain and other EU jurisdictions.

We build a reliable legal and operational foundation for the lawful, scalable, and sustainable operation of businesses in the European market.

Want to enter the EU market legally?

Talk to our team and find out how to obtain a cryptocurrency license in Spain – quickly and reliably.

FAQ

1. Who can apply for a cryptocurrency license?

Any legal entity registered in Spain or the EU may apply, provided all legal and financial requirements are met. Mandatory elements include: an office (physical or virtual), minimum capital, competent directors, and a complete set of documents.

2. How long does it take to obtain the cryptocurrency license?

On average, the process takes 2 to 4 months – from cryptocurrency company registration and document submission to regulatory review. Delays are possible if the submission is incomplete or if additional checks are required.

3. What types of activities does the crypto license cover?

A license in Spain allows for:

• crypto ↔ fiat and crypto ↔ crypto exchange
• wallet services and custodial storage
• launching trading platforms
• providing payment and remittance services
• issuing new tokens
• offering financial and consulting services

4. Is a physical office in Spain mandatory?

Yes, a registered address is required, but a virtual office is allowed if the cryptocurrency company ensures full regulatory correspondence and availability within Spain.

5. What is the minimum required share capital?

€50,000 – basic services (brokerage, consulting)

€125,000 – crypto exchange

€150,000 – custodial services, platforms

The capital must be deposited in a Spanish bank account and confirmed by a bank statement.

6. Are services subject to VAT?

Digital exchange and wallet services are VAT-exempt. However, additional services (consulting, API access, etc.) may be subject to VAT – it is important to consult a crypto-focused tax advisor.

7. What are the compliance and reporting obligations?

After obtaining the cryptocurrency license, the company must:

• submit annual financial and transaction reports
• maintain up-to-date AML/KYC policies
• conduct regular audits
• report suspicious transactions
• update company information and renew the cryptocurrency license on time

8. Is the Spanish cryptocurrency license valid across the EU?

Yes, under the MiCA regulation, the license grants passporting rights – the ability to provide regulated services throughout the EU without additional licensing.

9. What documents are required for the application?

• Articles of incorporation and crypto company registration
• Bank statement confirming capital deposit
• AML, compliance, and IT security policies
• CVs and references of directors
• Detailed business plan, pricing, risk assessment
• Sample client agreements and KYC documentation

10. What is a VASP and why is it important?

A VASP (Virtual Asset Service Provider) is the official status for companies that have obtained a cryptocurrency license and meet all requirements. VASP status confirms legal and operational compliance and builds trust with clients, partners, and investors.