Licensing

Financial & crypto licences

A regulated licence is a multi-month undertaking with a regulator, not a product to be bought. Arrive is a boutique advisory firm of two principals. We scope the correct jurisdiction and licence class for a family's business, then coordinate the application, local counsel and regulator dialogue through vetted specialists. We do not hold your capital, act as your licensed director or compliance officer, or promise an outcome that the regulator alone decides.

Last verified July 2026

What this covers

  • We map the activity to the correct licence and jurisdiction before any capital is committed. That could mean EU payments (Lithuania, Malta, Cyprus, Estonia), MiCA CASP for crypto-assets, offshore securities/VASP (BVI, Seychelles, Vanuatu), gaming (Malta, Curaçao) or a Hong Kong money-service operator (MSO).
  • We structure the applicant company, its share capital and its safeguarding or own-funds arrangements to meet the threshold for the chosen class. For a full electronic-money institution under EMD2, for example, that means EUR 350,000 in initial capital.
  • We assemble the fit-and-proper file for directors and qualifying shareholders. That covers CVs, police clearances, source-of-funds evidence, and the governance and AML/CFT framework the regulator expects.
  • We build the substance the regulator requires. That means a local office, resident directors and staff, an MLRO or compliance officer, and a DORA-aligned ICT and operational-resilience framework for EU payment and crypto firms.
  • We prepare the core of the submission. That includes the business plan, three-year financial projections, a risk assessment and the full policy suite: AML/KYC, safeguarding, outsourcing and IT security.
  • We coordinate local counsel, auditors and the regulator back and forth, through a vetted network, across the statutory review period, until the file is accepted as complete.
  • We advise on cross-border reach. An EU EMI, PI or MiCA CASP passports across the EEA. An offshore licence does not. The right jurisdiction depends on where your target market actually is.
  • For regulated functions we do not perform ourselves, such as holding client money, acting as a licensed director or handling statutory audit, we refer to independent, appropriately licensed providers.

Scope & conditions

EU e-money (EMI)
Full EMI initial capital EUR 350,000 under EMD2 (Directive 2009/110/EC); ongoing own funds at least the greater of that figure or 2% of average outstanding e-money. Bank of Lithuania review is statutorily up to 3 months from a complete file, 6-12 months in practice (as of 2026; confirm).
EU payments (PI/PSP)
PSD2 Article 7 initial capital: EUR 20,000 (money remittance only), EUR 50,000 (payment initiation), EUR 125,000 (full payment services). Realistic homes: Lithuania, Malta, Cyprus, Estonia.
Crypto-asset (MiCA CASP)
MiCA minimum own funds EUR 50,000 / 125,000 / 150,000 by service class (Annex IV, classes 1-3). CASP rules apply from 30 December 2024; the transitional grandfathering window closed 1 July 2026 (several member states closed earlier — confirm).
Investment / brokerage (EU)
MiFID II under the IFR/IFD regime: permanent minimum capital EUR 75,000, EUR 150,000 or EUR 750,000 by activity, with the firm categorised as Class 1, 2 or 3.
Offshore securities & VASP
Seychelles Securities Dealer minimum capital raised to USD 100,000 (from USD 50,000) under 2024 amendments; BVI VASP Act 2022 in force since 1 February 2023; Vanuatu VASP Act (No. 3 of 2025) gazetted, with materially higher application and licence fees per class.
Gaming (Malta MGA)
B2C minimum share capital EUR 100,000 (Type 1/2) or EUR 40,000 (Type 3/4), capped at EUR 240,000 for multiple types; EUR 5,000 non-refundable application fee; annual licence fee approx. EUR 10,000-35,000 by revenue (confirm current MGA schedule).
Gaming (Curaçao) & HK MSO
Curaçao LOK (December 2024) replaced the master/sub-licence system with direct CGA licensing; old sub-licences expired; B2C annual fee approx. EUR 47,450. Hong Kong MSO: licensed by Customs & Excise, valid 2 years, no statutory minimum capital, roughly 2-3 month processing.

How it works

  • Expect a real timeline: 6-12+ months for an EU EMI, PI or CASP from a complete file. The statutory review clock, up to three months in Lithuania, only starts once the regulator deems the application complete. Most of the elapsed time goes into getting the submission accepted in the first place.
  • Capital must be genuinely paid up. For EU firms, it must stay that way. The initial-capital figure is a floor for the life of the licence, not a one-off requirement. Ongoing own-funds and safeguarding tests apply throughout.
  • Directors and qualifying shareholders go through fit-and-proper vetting. That means no relevant convictions or bankruptcy, demonstrable competence and experience, and a clear, evidenced source of funds.
  • Substance is scrutinised: a local office, resident directors and staff, an appointed MLRO/compliance officer, and, for EU payment and crypto firms since January 2025, a DORA-compliant ICT and operational-resilience framework.
  • The application stands or falls on its documents. These include a business plan, three-year projections, AML/CFT and KYC policies, safeguarding and outsourcing arrangements, and IT/security architecture, all consistent with the stated model.
What can go wrong
  • No adviser can guarantee a licence. The regulator decides and can refuse an application or stop the clock. Treat any promise of guaranteed approval or a fixed grant date as a red flag.
  • The MiCA transitional period closed on 1 July 2026. A firm serving EU clients without CASP authorisation is now operating outside EU law. A pre-MiCA national crypto registration no longer suffices.
  • Offshore licences are cheaper and faster, but they do not passport into the EU/EEA. Banking, custody and payment partners increasingly decline purely offshore structures. The regimes are also tightening: Seychelles doubled its securities-dealer minimum, and Vanuatu and Curaçao raised the bar sharply.
  • Figures move. The fees, capital thresholds and processing times cited here are as of 2026. Confirm them against the regulator's current schedule before you rely on them.
  • We arrange and coordinate. We do not hold client money, act as your licensed director, MLRO or compliance officer, or provide audit. Independent, appropriately licensed parties handle those roles. And we will not quote a firm fee for an outcome the regulator controls.

Frequently asked

How much capital do I need for an EU e-money licence?

A full electronic-money institution requires EUR 350,000 of initial capital under EMD2. After that, it must hold own funds of at least the greater of that figure or 2% of average outstanding e-money. A payment institution needs less. It requires EUR 20,000 to EUR 125,000, depending on the services provided.

How long does financial licensing actually take?

For an EU EMI, PI or MiCA CASP, plan on 6-12+ months. The regulator's statutory review clock starts only once your file is deemed complete. In Lithuania, for instance, that clock runs up to three months. Most of the timeline is spent preparing a submission that will be accepted as complete in the first place.

Do I still need a MiCA licence, or can I rely on my old national crypto registration?

The MiCA transitional period closed on 1 July 2026. Serving EU clients now requires full CASP authorisation. A pre-MiCA national registration no longer permits EU activity. Confirm your specific member state's position, since several closed their grandfathering windows earlier than the outer deadline.

Is an offshore licence, such as one from BVI, Seychelles or Vanuatu, a cheaper substitute for an EU one?

It is cheaper and faster. But it does not passport into the EU/EEA. Banking, custody and payment partners are also increasingly reluctant to work with purely offshore structures. The offshore regimes themselves are tightening. Seychelles raised its securities-dealer minimum to USD 100,000, and Vanuatu's 2025 VASP Act carries substantial per-class fees.

What does fit and proper mean, and who does it apply to?

Regulators assess the integrity, competence and financial soundness of directors, senior managers and qualifying shareholders. They check for convictions, bankruptcy history, relevant experience and source of funds. A thin or weak board is one of the most common reasons an otherwise sound application stalls.

What will you not do?

We will not promise approval. We will not quote a firm fee for an outcome the regulator controls. We will not hold your capital, and we will not act as your licensed director, MLRO or auditor. Our role is to scope the structure and jurisdiction, assemble the application file, and coordinate vetted local specialists along with the regulator dialogue.

Need financial & crypto licences done properly?

One named person on your file, and an honest answer on scope, timeline and cost.