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 CNMV decision, including banking and payment rails.
Get a crypto license in Spain.
The EU's fourth-largest economy licenses crypto under MiCA through the CNMV, and Spanish is the language of your next hundred million users. The transitional window has closed; authorisation is the way in, and complete files move in months.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated
Spain in brief
A 46-million market that speaks to 500 million more.
Spain runs one of Europe's most engaged crypto markets - retail adoption is among the continent's highest, and the country's biggest banks now offer regulated crypto services to their own clients. Under MiCA the CNMV is the competent authority for CASP authorisation, applying the standard EU capital classes of €50,000 to €150,000 and the 25-plus-40-working-day statutory clock; in practice, complete files move through in three to six months. The transitional window has closed - since the summer of 2026, only CNMV-authorised CASPs and EU passporting firms may serve Spanish clients, and the regulator has been explicit about pursuing those who continue without it.
The CNMV is no newcomer to crypto: it has run Europe's pioneering crypto-advertising regime since 2022, so the supervisor reviewing your file already understands the market it polices. And Spain's licence carries a bonus no other MiCA desk offers - the language. A Spanish-licensed, Spanish-language operation is the natural bridgehead into Latin America's markets, with the EU passport covering all 27 member states behind it.
The EU's fourth-largest economy under MiCA: CNMV authorisation, €50k-€150k capital, 3-6 months for complete files. The transition has closed.
The bonus no other desk has: Spanish. A CNMV licence is the natural bridgehead to Latin America - with the EU passport behind it.
Licence classes
One authorisation, scoped to your services.
MiCA defines ten crypto-asset services in three capital classes. The CNMV authorises the exact scope you apply for, and Spanish practice rewards files that arrive complete. We fix the perimeter first, then build once.
Ten MiCA services in three capital classes. The CNMV authorises the scope you apply for.
01 - CASP · CLASS 1-2
Core crypto services
For brokers, exchangers and custodians. Execution, exchange and safekeeping of client crypto-assets under one CNMV 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 CNMV 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
Gateway to Latin AmericaTrading 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 and built in the language of Latin America.
The highest MiCA tier. A trading venue with €150,000 capital, built in the language of LatAm.
- ✓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 - the CNMV - for all 27 states
Costs and timelines are confirmed for your case before any work begins. CNMV fees are statutory; the real investment is the file and substance. Both scoped individually in your quote. EMT / stablecoin issuance runs through the Banco de España e-money track and is quoted separately.
Why Spain
The market - and the language behind it.
The framework is MiCA, supervised by the CNMV. A regulator that has policed crypto advertising since 2022 and knows exactly what it is licensing.
✓
The EU's fourth-largest economy
46 million consumers with some of Europe's highest retail crypto adoption. A home market that is a business case in itself, before the passport adds 26 more.46M consumers, top-tier retail adoption.
✓
The Latin America bridge
A Spanish-licensed, Spanish-language operation is the natural base for LatAm expansion. Same language, shared legal culture, overlapping banking groups. No other MiCA desk offers this.Same language, shared legal culture. Unique to Spain.
✓
A regulator that knows crypto
The CNMV has run Europe's pioneering crypto-ad regime since 2022 and moved early on MiCA enforcement. An engaged supervisor whose authorisation means something.Ad-regime pioneer since 2022.
✓
Complete files move fast
The statutory clock is 25 plus 40 working days, and Spanish practice lands complete applications in 3-6 months. Among the quicker serious desks in the EU.3-6 months in Spanish practice.
✓
Banks are in the market
Spain's largest banks now offer regulated crypto trading and custody to their own clients. Licensed CASPs find banking counterparties that already understand the product.Major banks offer crypto - counterparties exist.
✓
A clean, closed market
The transitional window has closed and the CNMV has been explicit: unauthorised service is over. The firms on the register compete in a market cleared of grey-zone operators.Grey-zone operators are out; the register competes.
How it compares
How Spain differs from other routes.
Spain pairs a serious home market with real licensing speed, and adds the LatAm dimension nobody else has. The full comparison is below.
Spain vs other jurisdictions
| Feature |  Spain | Other jurisdictions |
|---|---|---|
| Regulatory regime | MiCA CASP - CNMV | National regimes or lighter desks |
| Home market | 46M + LatAm bridge | Smaller, single-language markets |
| Licensing speed | 3-6 months, complete files | 4-12 months typical |
| Corporate tax | 25% · 15% new companies | 12.5-30% across the EU |
Regulatory regime
SpainMiCA CASP - CNMV
Other jurisdictionsNational regimes or lighter desks
Home market
Spain46M + LatAm bridge
Other jurisdictionsSmaller, single-language markets
Licensing speed
Spain3-6 months, complete files
Other jurisdictions4-12 months typical
Corporate tax
Spain25% · 15% new companies
Other jurisdictions12.5-30% across the EU
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Spain | MiCA CASP (CNMV) | 25% CIT · 15% new companies | Engaged, ad-regime pioneer |
 Portugal | MiCA CASP (Banco de Portugal) | 19% IRC (2026) | Popular relocation base |
 Czech Republic | MiCA CASP (ČNB) | 21% CIT | Fast, technical, predictable |
 Malta | MiCA CASP (MFSA) | ~5-10% effective after refunds | Experienced, slower queue |
SpainLicense typeMiCA CASP (CNMV)
Taxation25% CIT · 15% new companies
RequirementsEngaged, ad-regime pioneer
PortugalLicense typeMiCA CASP (Banco de Portugal)
Taxation19% IRC (2026)
RequirementsPopular relocation base
Czech RepublicLicense typeMiCA CASP (ČNB)
Taxation21% CIT
RequirementsFast, technical, predictable
MaltaLicense typeMiCA CASP (MFSA)
Taxation~5-10% effective after refunds
RequirementsExperienced, slower queue
Before you apply
Requirements for the CNMV authorisation.Requirements for CNMV authorisation.
The CNMV applies the full MiCA standard, and its own hard-won crypto experience. The checklist below is what a file that passes actually contains.
01
Spanish entity. An S.L. or S.A. with its registered office and effective direction in Spain.
02
Substance. Decision-making genuinely in the country: local management, compliance and risk on the ground.
03
Fit & proper management. Clean records, relevant experience, and honourability checks on directors and holders.
04
Own funds - €50,000, €125,000 or €150,000 by service class, or one quarter of fixed overheads if higher.
05
Programme of operations. Services, target markets, volumes and a business plan the CNMV can interrogate.
06
AML/CFT framework. Ley 10/2010-grade KYC, EDD, monitoring and reporting to SEPBLAC, with a named officer.
07
ICT and DORA compliance. Resilience testing, incident reporting and the ICT third-party register.
08
Safeguarding of client assets. Segregation of client crypto and funds, custody policy, key management.
09
Advertising compliance. Crypto promotions under the CNMV's advertising regime, risk warnings included.
10
Governance. Ownership to UBOs, qualifying holdings disclosed, conflicts and complaints procedures.
11
Wind-down plan. Credible, funded and documented.
01
Spanish S.L./S.A. with effective direction in Spain.
02
Local management, compliance and risk.
03
Fit & proper directors and holders.
04
Own funds €50k-€150k by class.
05
Programme of operations + business plan.
06
Ley 10/2010 AML, reporting to SEPBLAC.
07
ICT resilience under DORA.
08
Segregation and custody of client assets.
09
CNMV advertising-regime compliance.
10
Credible, funded wind-down plan.
Reflects MiCA and CNMV practice as of 2026. The transitional window has closed. Unauthorised crypto services to Spanish clients are subject to enforcement.MiCA + CNMV practice as of 2026. Transition closed - enforcement is live.
How it works
From first call to the CNMV register.
01
Perimeter and strategy
We map your services to the MiCA classes and fix scope, capital and timeline in writing. Including the LatAm sequencing if it applies.Classes, capital, LatAm sequencing - in writing.
02
Spanish company and substance
S.L. formation, registered office, local management and governance. The presence the CNMV verifies.S.L., office, local management.
03
The application file
Programme of operations, AML/CFT framework, DORA documentation, advertising compliance and wind-down. Complete before filing.Programme, AML, DORA, ads - complete first.
04
CNMV review
25 working days to completeness, 40 more to decision on the statutory clock - 3-6 months in practice for complete files. We answer every round.25+40 wd statutory; 3-6 months complete files.
05
Authorisation and passport
Entry in the CNMV register, ESMA notification and passporting into all 27 EU states - plus ongoing reporting we can keep running.Register entry, then all 27 EU states.
Quick facts
RegulatorCNMV
FrameworkMiCA CASP
Capital€50k / €125k / €150k
Statutory clock25 + 40 working days
In practice3-6 months
Stablecoins (EMT)Banco de España track
AdvertisingCNMV crypto-ad regime
PassportAll 27 EU states
The clock starts when the CNMV deems the file complete. Arriving complete is how 3-6 months actually happens.
On the ground in Spain
Run from our Madrid office.
Prifinance - Spain
Madrid · Spain
Madrid, Spain
01
Spanish company formation
S.L. incorporation, registered office, NIE/NIF handling and the corporate layer the CNMV expects. Structured for the authorisation.S.L., NIE/NIF, structured for the file.
02
The authorisation file
Programme of operations, AML pack, DORA documentation and advertising compliance. Drafted by us and defended through the CNMV's rounds.Programme, AML, DORA, ads. Defended in rounds.
03
Substance and staffing
Director and compliance recruitment, office arrangements and payroll. The presence Spanish law demands, assembled pragmatically.Directors, compliance, office - assembled.
04
The LatAm roadmap
Spanish-language operations structured for Latin American expansion. Corporate, banking and regulatory sequencing across the Atlantic.Cross-Atlantic sequencing, structured.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Dubai
UAE
33 Level, Al Saqr Business Tower
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of crypto companies in Spain.
No crypto-specific levies. Companies trade under ordinary corporation tax with a genuine startup discount, while founders relocating in can access one of Europe's best-known inbound regimes.
Corporation tax 25%
The general rate, with reduced rates for smaller companies, and newly created companies pay 15% for the first two profit-making years. Ordinary deductions apply.15% for new companies, first two profit years.
Individuals: savings tax 19-30%
Personal crypto gains fall into the savings base - 19% to 30%, the top rate applying above €300,000. Losses offset gains within the base.Top rate above €300,000; losses offset.
The Beckham regime
Qualifying inbound employees and directors can elect a 24% flat rate on Spanish employment income for up to six years. A real lever for founders relocating with the licence.24% flat for inbound founders, up to 6 years.
VAT-exempt exchange
Crypto ↔ fiat exchange is VAT-exempt as a financial service under the Hedqvist line. The 21% standard rate touches only ordinary supplies.Hedqvist line; 21% only on ordinary supplies.
Reporting: Modelo 721 and DAC8
Residents declare foreign-held crypto above €50,000 on Modelo 721; platforms file Modelos 172/173 domestically; DAC8 adds EU-wide CASP reporting from 2026. Compliance is built in from day one.Foreign holdings above €50k; EU reporting 2026.
90+ tax treaties
One of Europe's larger treaty networks. Including nearly all of Latin America, which matters for the expansion this licence is usually bought for.Including nearly all of Latin America.
Tax summary
Corporation tax25%
New companies15% · first 2 profit years
Personal savings tax19-30%
Beckham regime24% flat · 6 years
VAT on crypto exchangeExempt
Foreign holdingsModelo 721 above €50k
Tax treaties90+
*Figures as of 2026. Wealth and solidarity taxes vary sharply by region. Madrid effectively exempts wealth tax; we model residence before you commit.
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: Spanish S.L., 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, CNMV-authorised business.
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Spain · CNMV
Launch your crypto project in Spain with expert support.
Full-service assistance - from company registration to CNMV authorisation and ongoing compliance.
Get a consultation →Free legal opinion
Is Spain the right fit for 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.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Spanish crypto licence: frequent questions.
What licence does a crypto business need in Spain?+
CASP authorisation from the CNMV under MiCA - required for exchange, brokerage, custody, transfer, advice and trading-platform services aimed at the Spanish market. The transitional window has closed; authorisation is the only route.
What happened to the Banco de España VASP registry?+
It was an AML registry, never a licence, and it does not authorise anything under MiCA. Firms that relied on it had to obtain CNMV authorisation before the transition ended; the Banco de España's crypto role today is the e-money track for EMT issuers.
How much capital is required?+
MiCA's three classes: €50,000 for advice and order services, €125,000 for exchange, execution and custody, €150,000 for a trading platform - or a quarter of annual fixed overheads if that is higher.
How long does CNMV authorisation take?+
The statutory clock is 25 working days to completeness plus 40 to decision, with an ESMA consultation built in. Spanish practice lands complete files in 3-6 months - arriving complete is the entire game, and that is our job.
What substance does the CNMV expect?+
A Spanish S.L. with effective direction in Spain: local management, a compliance function on the ground, and systems that demonstrably run. The CNMV verifies presence - letterbox setups fail.
What are the crypto advertising rules?+
Spain pioneered crypto-ad regulation: mass campaigns require CNMV notification, and all promotions carry mandated risk warnings. The regime predates MiCA and is actively enforced - we build the promotions stack alongside the file.
How are crypto companies taxed?+
Corporation tax at 25%, with 15% for newly created companies in their first two profit-making years. Crypto-fiat exchange is VAT-exempt; DAC8 and domestic platform reporting apply.
And founders personally?+
Crypto gains sit in the savings base at 19-30%. Founders relocating in can often use the Beckham regime - 24% flat on employment income for up to six years. Residents also declare foreign-held crypto above €50,000 on Modelo 721.
Does the Spanish licence passport across the EU?+
Yes - one CNMV authorisation covers all 27 EU member states through MiCA passporting after notification. Spain's own 46-million market comes first; the passport adds the rest.
Why Spain rather than another MiCA desk?+
Three reasons: a top-five EU home market with high retail adoption, real licensing speed for complete files, and the only MiCA licence that doubles as a Latin America bridgehead - same language, shared legal culture, treaty coverage across the region.
What licence is needed?+
CNMV CASP authorisation under MiCA - the only route.
The BdE registry?+
AML-only, superseded; BdE now handles EMT issuers.
Capital?+
€50k / €125k / €150k by service class.
How long?+
3-6 months for complete files.
Substance?+
Effective direction in Spain; presence verified.
Advertising rules?+
CNMV regime since 2022 - warnings, notification.
Company taxes?+
25% CIT; 15% new companies; VAT-exempt exchange.
Founder taxes?+
Savings base 19-30%; Beckham 24% for inbound.
EU passport?+
Yes - all 27 states by notification.
Why Spain?+
Big home market, real speed, and the LatAm bridge.
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
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Google
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Google
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Google
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Google
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One message away from your Spanish licence.
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 Spanish route 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 the CNMV or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.