Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the Finantsinspektsioon decision, including banking and payment rails.
Get a crypto license in Estonia.
The country that invented the crypto licence now runs on MiCA. A Finantsinspektsioon CASP authorisation opens all 27 EU markets, and our headquarters has been in Tallinn for over a decade.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated
Estonia in brief
The crypto licensing pioneer, rebuilt on MiCA rails.
Estonia issued Europe's first crypto licences back in 2017 and learned every lesson the hard way - the FIU-era regime was tightened, cleaned up and finally retired when MiCA took over on 30 December 2024. Today authorisation sits with Finantsinspektsioon, the financial supervisor, under the Crypto Asset Market Act; the transitional window for old licence holders closed on 1 July 2026.
What survived is the infrastructure that made Estonia famous: e-Residency, courts and registers that run online, and the 0% corporate tax on retained profits - you pay 22% only when profits are distributed. One authorisation covers all 27 EU states, capital tiers are fixed at €50,000-€150,000, and our own headquarters has run licensing mandates from Tallinn for over a decade.
The crypto licensing pioneer - FIU-era licences retired, MiCA authorisation with Finantsinspektsioon since 30 December 2024; the transition closed on 1 July 2026.
One authorisation for all 27 EU states, capital €50k-€150k by class, 0% tax on retained profits. Our headquarters has been in Tallinn for over a decade.
Licence classes
One CASP authorisation - three service classes.
MiCA replaced Estonia's FIU-era licences with a single authorisation issued by Finantsinspektsioon. The class, and the minimum capital, follow from the services you plan to provide; most projects combine Class 1 and Class 2 services under one licence.
One Finantsinspektsioon authorisation; the class and the capital follow from your services.
01 - CASP · CLASS 1-2
Core crypto services
For brokers, exchangers and custodians. Execution, exchange and safekeeping of client crypto-assets under one authorisation. Minimum capital €50,000-€125,000 depending on scope.
For brokers, exchangers and custodians. Execution, exchange and safekeeping of client crypto-assets under one authorisation. Minimum capital €50,000-€125,000 depending on scope.
- ✓Exchange of crypto ↔ fiat and crypto ↔ crypto
- ✓Execution, reception and transmission of orders
- ✓Custody and administration of client crypto-assets
- ✓Transfer services for crypto-assets
- ✓Advice and portfolio management on crypto-assets
- ✓Placing of crypto-assets
02 - CASP · CLASS 3
EU-wide passportTrading platform
The highest MiCA tier. Operation of a crypto trading venue with €150,000 minimum capital, listing rules and market-abuse controls, passportable across the EU.
The trading-venue tier - €150,000 capital, listing rules, EU-wide passport.
- ✓Operation of a crypto-asset trading platform
- ✓Matching of buyers and sellers in the venue
- ✓Admission-to-trading (listing) framework
- ✓Market-abuse monitoring under MiCA Title VI
- ✓Combines with custody and exchange services
- ✓One home regulator - Finantsinspektsioon - for all 27 states
Costs and timelines are confirmed for your case before any work begins. Minimum capital depends on the CASP class - €50,000, €125,000 or €150,000 (MiCA Annex IV), and government and third-party fees are itemised in your quote.
Why Estonia
Hard-won supervisory experience - and a 0% retained-profits tax.
The framework is MiCA (Regulation (EU) 2023/1114), applied directly, with the Estonian Crypto Asset Market Act seating authorisation and supervision with Finantsinspektsioon and AML oversight with the FIU. No EU regulator has seen more crypto business models than Estonia's.
✓
One EU rulebook (MiCA)
Crypto services run on Regulation (EU) 2023/1114 directly, adapted by the Crypto Asset Market Act. The FIU-era licences are history. What Finantsinspektsioon authorises in Tallinn is valid law across the Union.Regulation (EU) 2023/1114 + the Crypto Asset Market Act. The FIU era is over.
✓
Passport to 27 markets
An Estonian CASP authorisation passports across the entire EU under Article 65 of MiCA. A notification, not a new licence, opens each additional member state.Article 65 notifications open every EU state from one home regulator.
✓
A supervisor that has seen everything
Estonia licensed thousands of crypto firms in the FIU era and kept the ones that could prove substance. Finantsinspektsioon's questions are sharp, and an authorisation that survives them carries weight with banks EU-wide.Sharp questions, and an authorisation banks respect EU-wide.
✓
Fixed capital tiers
Minimum capital is set by MiCA Annex IV, not by regulator discretion: €50,000 for Class 1, €125,000 for Class 2, €150,000 for Class 3. With an own-funds alternative under Article 67.€50k / €125k / €150k by class. Set by MiCA Annex IV, not discretion.
✓
0% tax while you build
Estonia's signature regime survived every reform: corporate profits are untaxed until distributed, then taxed at 22% (22/78). The 2% defence tax on profits was scrapped in June 2025 before it ever took effect.Profits untaxed until distributed; 22% only on payout.
✓
Digital state, real substance
e-Residency, online registers and courts, APIs into every public service. Building genuine local substance in Tallinn is faster and cheaper than almost anywhere in the EU. Our headquarters is here.e-Residency and online registers make Tallinn substance cheap to build.
How it compares
How Estonia differs from its neighbours.
Under MiCA the rulebook is the same across the EU. What differs is the regulator's experience, the speed and the tax wrapper around it. Estonia pairs the most experienced crypto supervisor in the Union with its unique retained-profits regime.
Estonia vs other jurisdictions
| Feature |  Estonia | Other jurisdictions |
|---|---|---|
| Regulatory regime | MiCA CASP - Finantsinspektsioon | National regimes or late MiCA starts |
| EU market access | Passport to all 27 EU states | Often none without a local licence |
| Tax while reinvesting | 0% on retained profits | Profits taxed as they accrue |
| Licensing speed | 4-6 months in practice | Often 6-12+ months |
Regulatory regime
EstoniaMiCA CASP - Finantsinspektsioon
Other jurisdictionsNational regimes or late MiCA starts
EU market access
EstoniaPassport to all 27 EU states
Other jurisdictionsOften none without a local licence
Tax while reinvesting
Estonia0% on retained profits
Other jurisdictionsProfits taxed as they accrue
Licensing speed
Estonia4-6 months in practice
Other jurisdictionsOften 6-12+ months
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Estonia | MiCA CASP (Finantsinspektsioon) | 0% retained / 22% on payout | Experienced, demanding supervisor |
 Czech Republic | MiCA CASP (ČNB) | 21% CIT, 3-year exemption for individuals | Clear, technical, predictable |
 Lithuania | MiCA CASP (Bank of Lithuania) | 17% CIT · 7% small companies | Engaged regulator, strict AML |
 Malta | MiCA CASP (MFSA) | 35% CIT → ~5% effective with refunds | Fast for prepared files, EU scrutiny |
EstoniaLicense typeMiCA CASP (Finantsinspektsioon)
Taxation0% retained / 22% on payout
RequirementsExperienced, demanding supervisor
Czech RepublicLicense typeMiCA CASP (ČNB)
Taxation21% CIT, 3-year exemption for individuals
RequirementsClear, technical, predictable
LithuaniaLicense typeMiCA CASP (Bank of Lithuania)
Taxation17% CIT · 7% small companies
RequirementsEngaged regulator, strict AML
MaltaLicense typeMiCA CASP (MFSA)
Taxation35% CIT → ~5% effective with refunds
RequirementsFast for prepared files, EU scrutiny
Before you apply
Requirements for a CASP authorisation.Requirements for an Estonian CASP.
The regulator assesses a CASP file against MiCA and national AML law. The checklist below is what a complete application actually contains. Most delays trace back to gaps here, not to the business model.
01
Estonian legal entity. An OÜ (private limited company) with its registered office in Estonia.
02
Real substance. An office and part of management and the compliance function physically in the country; letterbox setups fail the assessment.
03
Fit & proper management. Clean records and demonstrated competence for directors and qualifying shareholders.
04
Share capital - €50,000 / €125,000 / €150,000 by CASP class under MiCA Annex IV, or the own-funds alternative of Article 67.
05
Programme of operations. A three-year business plan describing each crypto-asset service you will provide.
06
AML/CFT framework. Policies under the Money Laundering and Terrorist Financing Prevention Act, an appointed MLRO and reporting lines to the Estonian FIU.
07
ICT resilience (DORA). Security and continuity arrangements under Regulation (EU) 2022/2554, which applies to CASPs.
08
Safeguarding of client assets. Segregation of client crypto-assets and funds, custody and wallet-management policy.
09
Governance & internal controls. Risk management, conflicts-of-interest rules and complaints handling.
10
Disclosure duties. White-paper and market-abuse obligations under MiCA Titles II and VI where relevant.
11
Application to Finantsinspektsioon. A complete file starts the statutory clock: 25 working days for completeness, 40 for assessment.
01
Local legal entity with a registered office.
02
Real substance. Office, management and compliance in the country.
03
Fit & proper management. Clean records, competence checks.
04
Share capital - €50k / €125k / €150k by CASP class.
05
Programme of operations. Three-year, service-by-service plan.
06
AML/CFT framework. MLRO, policies, FIU reporting.
07
ICT resilience. DORA security and continuity arrangements.
08
Safeguarding. Segregation of client assets, custody policy.
09
Governance. Risk, conflicts and complaints frameworks.
10
Application. Starts the 25 + 40 working-day clock.
The list reflects MiCA Articles 59-68 and supervisory practice as of 2026. The exact scope depends on your service mix. A Class 1 broker file is materially lighter than a Class 3 trading-venue file.Reflects MiCA Arts. 59-68 and Finantsinspektsioon practice, 2026.
How it works
From first call to an authorised CASP.
01
Structure and scoping
We map your services to the right CASP class, fix the capital tier and set up the Estonian OÜ with the governance MiCA expects.Right CASP class, capital tier and a local entity with proper governance.
02
The application file
Three-year business plan, AML/CFT and DORA packs, safeguarding and conflicts policies. Drafted service by service against Articles 59-62 of MiCA.Business plan, AML, DORA and safeguarding packs. Service by service.
03
Finantsinspektsioon review
Filing starts the statutory clock: 25 working days for completeness, 40 for assessment - plus the supervisor's famously thorough Q&A, which we answer for you.25 + 40 working days; we answer every regulator query.
04
Authorisation and passporting
The decision lands, the company enters ESMA's register, and Article 65 notifications open every additional EU market you need.ESMA register entry, Article 65 notifications to the EU.
05
Launch and ongoing compliance
Reporting calendars, audits, DAC8 and travel-rule flows. We keep the licence healthy while you run the business.Reporting, audits, DAC8 and travel-rule flows.
Quick facts
RegimeMiCA (EU) 2023/1114
RegulatorFinantsinspektsioon
Statutory review25 + 40 working days
In practice4-6 months
Capital€50k / €125k / €150k
EU passportAll 27 member states
Local substanceOffice + MLRO
e-ResidencyFully supported
Timeframes assume a complete file; every gap the supervisor finds stops the clock until it is cured.
On the ground in Tallinn
Licensed from the city where we are headquartered.
Prifinance - Estonia
Tallinn · Headquarters
Roseni 13, 10111 Tallinn
01
Estonian company formation
We incorporate the OÜ. Online, via e-Residency where it fits. Contribute the class-appropriate capital and prepare the corporate documents Finantsinspektsioon expects.OÜ via e-Residency, capital and corporate documents. Done for you.
02
The application file and the regulator dialogue
Business plan, policies, DORA and AML packs. Drafted by us and defended by us through every round of the supervisor's questions.We draft the packs and defend them in every Q&A round.
03
Substance and staffing
Registered office, local directors and MLRO recruitment, payroll. Real presence in Tallinn, built to fit your budget.Office, local directors and MLRO. Real presence in Tallinn.
04
Banking and payment rails
Accounts with Estonian and EU banks and EMIs that actually onboard CASPs. Opened in parallel so you launch the day the licence lands.CASP-friendly banks and EMIs, opened in parallel.
We also have offices in
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of crypto companies in Estonia.
Estonia taxes corporate profits only when they leave the company. The regime that made it the default choice for reinvesting businesses survived every reform of 2025-2026 intact.
0% on retained profits
Profits kept in the company. Reinvested in development, liquidity or expansion. Bear no corporate income tax at all. Tax arrives only with distribution.No CIT until profits leave the company.
22% on distribution
Dividends are taxed at 22% of the gross amount (the 22/78 model) when paid out. The planned rise to 24% was cancelled in December 2025.The 22/78 model; the 24% rise was cancelled in Dec 2025.
Defence tax scrapped
The 2% tax on corporate profits legislated for 2026 was abolished by Parliament on 19 June 2025. Before it ever took effect. Retained earnings stay untaxed.The 2% profits tax was abolished June 2025, never took effect.
VAT-exempt exchange
Exchanging crypto for fiat is VAT-exempt across the EU under the ECJ's Hedqvist ruling (C-264/14); the standard Estonian VAT of 24% touches only ordinary supplies.Hedqvist (C-264/14): crypto ↔ fiat exchange is VAT-exempt.
Individuals: 22% flat
Personal income, including realised crypto gains, is taxed at a flat 22%. Simple, predictable, with no progressive brackets.One rate for salaries, dividends and crypto gains.
DAC8 from 2026
EU-wide crypto reporting under DAC8 applies from January 2026. We build the reporting flows into your compliance from day one.EU-wide crypto reporting. Built into compliance day one.
Tax summary
Retained profits0%
Distributed profits22% (22/78)
Personal income tax22% flat
VAT on crypto exchangeExempt
Standard VAT24%
DAC8 reportingfrom 2026
Tax treaties60+
*Figures as of 2026, after the December 2025 tax package. Keep records and file on time to preserve licensed status.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Estonian OÜ, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, authorised CASP.
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Estonia · MiCA CASP
Launch your crypto project in the EU with expert support.
Full-service assistance - from Estonian company registration to CASP authorisation and passporting.
Get a consultation →Free legal opinion
Is Estonia the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, CASP class, or licensing route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Estonian CASP licence: the practical answers.
What licence does a crypto business need in Estonia?+
A CASP authorisation under MiCA (Regulation (EU) 2023/1114), issued by Finantsinspektsioon under the Estonian Crypto Asset Market Act. The FIU-era licences are retired - the transitional window closed on 1 July 2026.
What are the CASP classes and capital requirements?+
Class 1 (€50,000) covers execution, transmission of orders, advice, portfolio management and transfers; Class 2 (€125,000) adds custody and exchange; Class 3 (€150,000) covers operating a trading platform. The tiers are fixed by MiCA Annex IV.
How long does authorisation take?+
The statutory clock is 25 working days for the completeness check plus 40 working days for the assessment (MiCA Article 63). With Finantsinspektsioon's thorough Q&A rounds, a well-prepared file lands in about 4-6 months.
Can I serve clients across the EU with an Estonian licence?+
Yes. Under Article 65 of MiCA an Estonian CASP passports its services to any EU member state by notification - no additional licences, with Finantsinspektsioon remaining your single home regulator.
Do I need real presence in Estonia?+
Yes: an Estonian OÜ with a registered office, and part of management and the compliance function actually in the country. Estonia ended the letterbox era back in 2020 - substance is checked seriously.
What happened to the old FIU licences?+
They are gone. Estonia's VASP era ended with MiCA: existing licence holders had a transition window that closed on 1 July 2026. Anyone operating now needs a full CASP authorisation.
Does e-Residency help?+
Yes - incorporation, signatures and filings run fully online, which compresses the early stages. It does not replace substance: the office, the MLRO and part of management still need to be real and local.
How is the company taxed?+
0% on retained profits; 22% (22/78) when profits are distributed. The 2% defence tax was scrapped in June 2025 before taking effect, and the planned 24% rate was cancelled in December 2025.
And the founders personally?+
A flat 22% personal income tax applies to salaries, dividends and realised crypto gains. No progressive brackets, no local surtaxes.
Why Estonia rather than the Czech Republic or Lithuania?+
The rulebook is identical - MiCA, so the difference is execution: the EU's most experienced crypto supervisor, a 0% retained-profits regime that rewards reinvestment, and a fully digital state. The Czech Republic offers a simpler 21% wrapper; Lithuania the friendliest regulator dialogue.
What licence do I need?+
A CASP authorisation under MiCA from Finantsinspektsioon. FIU-era licences are retired; the transition closed 1 July 2026.
Classes and capital?+
Class 1 - €50k; Class 2 (custody, exchange) - €125k; Class 3 (trading platform) - €150k. MiCA Annex IV.
How long does it take?+
25 + 40 working days by statute; 4-6 months in practice.
Can I work across the EU?+
Yes - Article 65 passporting to all 27 states by notification.
Do I need local presence?+
Yes: OÜ, office, part of management and compliance in-country.
What about old FIU licences?+
Gone - transition closed 1 July 2026; a full authorisation is required.
Does e-Residency help?+
Yes for speed, but it does not replace real substance.
Company taxes?+
0% retained; 22% (22/78) on distribution; VAT-exempt exchange.
Founder taxes?+
Flat 22% on salaries, dividends and realised crypto gains.
Why Estonia vs Czech or Lithuania?+
The most experienced supervisor and the 0% retained-profits regime.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
“We found PRIFINANCE COMPANYvia the Internet and asked for help in organizing the opening of their company in Estonia. PRIFINANCE COMPANY specialists helped us a lot with this. Their professional, competent approach and knowledge of their business left us with only the best impressions.”
Google
“I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license…”
Google
“Opening an account with Prifinance in a Swiss bank was such an easy and quick process that I was shocked. It all started with the first call, where I received detailed guidance on the required documents and the entire procedure.One of the key highlights was their attention to detail. As someone who usually gets tangled up in paperwork, I was pleasantly surprised when they sent me all the documents and…”
Google
“I recently had the pleasure of working with Boris.. and I must say, it was a fantastic experience. Boris went above and beyond to assist me with my residency needs. His professionalism, knowledge, and dedication truly stood out. I highly recommend working with Boris and the team!”
Google
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Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: which CASP class fits your project and what it will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right licence scope, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of Finantsinspektsioon or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.