By Nexora Cyprus editorial team · General information — seek advice for your circumstances
Grandfathering deadline: 1 July 2026
Pre-existing Cyprus VASP registrations granted before 30 December 2024 may continue operating under MiCA's transitional regime until 1 July 2026 OR until a CASP authorisation decision is issued (whichever is earlier). After 1 July 2026, unauthorised crypto-asset services become illegal in Cyprus. Submit your CASP application by end of Q1 2026 to leave realistic margin for review.
MiCA (Markets in Crypto-Assets Regulation, EU 2023/1114) introduced a harmonised EU-wide regime for crypto-asset service providers, replacing the patchwork of national VASP regimes. A Cyprus CASP licence is granted by CySEC (Cyprus Securities and Exchange Commission) and passport-eligible across the entire EEA via the standard MiFID-style passport.
The CASP licence covers ten regulated services under MiCA Article 3(1)(16):
MiCA Annex IV minimum capital requirements
| Tier | Services covered | Minimum capital |
|---|---|---|
| Tier 1 | Advice, transfer, reception/transmission of orders | €50,000 |
| Tier 2 | Custody, execution, exchange, placement, portfolio management | €125,000 |
| Tier 3 | Operation of a trading platform | €150,000 |
A complete Cyprus CASP application includes 15+ document categories, totalling typically 250-500 pages:
Realistic milestones for a 2026 application:
Regulator-set fees are published by CySEC and are predictable: a per-tier CySEC application fee and an annual CySEC supervisory fee scaled to the licensed firm's size. These are the only line items we can quote against a fixed schedule.
Everything else — legal counsel, the AML / ICT / governance manual build, the compliance officer + MLRO hires (Cyprus-resident), insurance arrangements, capital adequacy buffers — is project-dependent and varies by service tier, group structure, and existing in-house capability. We scope these per engagement and quote against a written proposal after the pre-application call. Talk to us and we will issue a single all-in budget memo before you commit.
Once authorised by CySEC, a Cyprus CASP can passport its services across all 30 EEA member states under a notification regime (MiCA Article 65). The passport works in both freedom of services (no local establishment) and freedom of establishment (local branch) modes.
This means a Cyprus-authorised CASP can serve clients in Germany, France, Italy, Spain, the Netherlands etc. without separate national authorisations — a structural advantage vs non-EU jurisdictions like the UAE, Cayman, or BVI which require separate licences for EU client-facing activities.
CySEC MiCAR information and EU Markets in Crypto-Assets Regulation publish the controlling material for this topic. Check the current law, form, circular or portal instructions before acting; this article is general information and the live official material prevails.
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Disclaimer: This article is for informational purposes only and does not constitute legal, tax, or financial advice. Tax laws change frequently. Consult a qualified Cyprus adviser for guidance specific to your situation. The information on this page is general guidance only and does not constitute legal, tax, accounting, immigration or financial advice. Specific advice should be obtained based on the facts of each case.
— References linked in this article
Read each reference alongside the claim it accompanies and check current amendments before relying on it. General information — seek advice for your circumstances.
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