Breaking Down VASP License Pricing: A Strategic Guide to Establishing a Lithuanian Corporation for Crypto Operations

Marketing Mirr Asia
Aug 25
3 min read

Updated: Sep 1

As the global cryptocurrency industry matures, regulators across jurisdictions are implementing stricter frameworks to ensure compliance, protect consumers, and prevent financial crime. For crypto entrepreneurs looking to enter or expand into the European Union, Lithuania has become one of the most attractive destinations — thanks to its efficient company formation process, a clear virtual asset service provider (VASP) licensing regime, and favorable business environment.

This guide provides an updated breakdown of VASP license pricing, the strategic benefits of establishing a Lithuanian corporation, and the compliance requirements you need to be aware of.

Why Lithuania?

Lithuania is quickly becoming one of the most crypto-friendly jurisdictions in the European Economic Area (EEA). The country offers:

Transparent and well-defined regulatory environment
Fast-track incorporation (2–3 weeks)
Competitive VASP licensing compared to other EU countries
EU-wide market access once registered
Access to SEPA payments and established fintech infrastructure

According to the Financial Crime Investigation Service (FCIS), Lithuania has seen rapid growth in registered VASP companies due to its early adoption of regulatory clarity and its business-friendly ecosystem.

Understanding the VASP License in Lithuania

Under Lithuanian law, there are two main categories of VASP activities:

Virtual Currency Exchange Operator – entities providing crypto-to-fiat or crypto-to-crypto exchange services.
Virtual Currency Wallet Operator – entities safeguarding private cryptographic keys on behalf of clients.

Both activities require registration with the Register of Legal Entities and oversight by the Financial Crime Investigation Service (FCIS).

A company must first be incorporated in Lithuania, appoint local directors/shareholders, and designate an AML officer (MLRO) before applying.

VASP License Pricing: Full Cost Breakdown

1. Incorporation & Setup

Minimum share capital: €2,500 (paid into a capital account before establishment)
Incorporation, notary, registration & address: €2,200
Bank account opening: approx. €300–400
Estimated incorporation timeline: 2–3 weeks + 3–5 weeks for account opening

Total initial setup with share capital & fees: ~€5,000

2. VASP Ready-Made Licensed Company Package

For those seeking faster market entry:

Package price: €25,000
Includes:
- Transfer of shares (via PoA or on-site)
- Registered share capital of €125,000
- 1-year registered address & local contact service
- AML/KYC procedural rules (20 hours of attorney work)
- Corporate documents (with apostille + English translation)
- Appointment of AML/KYC officer & integration into company structure
- Registration with tax authorities & reporting setup
- Support for local office lease
- Assistance with segregated bank accounts (C2B/B2B)
- Guidance for KYC/KYT software setup

Estimated duration: 4–5 weeks + 4 weeks for account opening

3. Ongoing Maintenance Costs

AML Officer:
- €12,000/year (junior)
- €24,000/year (experienced, 20 hours per month, full regulatory interaction)
Accounting: from €4,800/year (depending on transaction volume)
Office lease (optional): €1,800–€3,000/year
KYC/KYT compliance tools: ~€2 per user (SumSub standard)

Total estimated annual running costs: €41,800 – €53,800 (excluding transaction-based fees)

Compliance & AML Obligations

Lithuania’s VASP regime is aligned with EU AMLD5/6 directives. After licensing, companies must:

Conduct full Customer Due Diligence (CDD)
Implement ongoing transaction monitoring
Maintain AML/KYC policies & training
Report suspicious activity to FCIS
Undergo internal audits and compliance reviews

Failure to meet these obligations can result in license suspension or fines.

Timeline Overview

Company incorporation: 2–3 weeks
Bank account opening: 3–5 weeks
VASP registration / ready-made license transfer: 4–5 weeks
Full operational readiness (with bank): 6–8 weeks

Why Choose Lithuania Over Other Jurisdictions?

Jurisdiction	Avg. VASP Cost	Processing Time	Regulatory Climate
Lithuania	€25,000 (ready-made) / ~€5,000 (new company + license application)	6–8 weeks	Clear, favorable
Estonia	€12,000–€25,000	2–4 months	More stringent post-2022
Germany	€50,000+	6–12 months	Strict, BaFin approval
Czech Republic	€10,000–€20,000	3–6 weeks	Limited license types

Lithuania strikes the best balance of speed, cost, and EU compliance, making it ideal for startups and growing crypto businesses.

Final Thoughts

Lithuania is one of the most cost-effective and strategically favorable EU jurisdictions for crypto entrepreneurs. With a clear licensing framework, relatively fast incorporation timelines, and full EU market access, it offers a strong foundation for regulated VASP operations.

However, compliance requires careful planning, AML expertise, and continuous oversight. Partnering with specialists ensures smooth setup and ongoing operations.