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As a result of the recent consolidation of 27 national policies into the unified legal and regulatory framework, the European crypto market has become a highly structured, standardised space with easy auditability for compliance and a massive target audience. In light of these changes, Slovakia, with its clear licensing procedure, is one of the most attractive locations to launch crypto-asset projects in the EU.
The SBSB team of fintech lawyers assists with CASP licensing in Slovakia and, on request, in other EU member states, such as Germany and the Netherlands.
What Is a CASP License in Slovakia?
A CASP (Crypto-Asset Service Provider) license is an official regulatory authorisation to legally provide crypto-asset services across the European Union. In Slovakia, it is issued by the National Bank of Slovakia (NBS). Compliance is required under the Markets in Crypto-Assets Regulation, abbreviated as MiCA.
The regulation was established by the European Union and went into effect in 2023. It is binding for all 27 EU member states to provide regulatory stability, clarity in governance, and customer protection. It requires CASPs and asset issuers to implement strict risk controls and transparent reporting. CASP licenses are based on the extent of services provided. According to Article 3, paragraph 1 of MiCAR, crypto-asset services involve providing the following:
- providing custody and administration of crypto-assets on behalf of clients;
- operation of a trading platform for crypto-assets;
- exchange of crypto-assets for funds;
- exchange of crypto-assets for other crypto-assets;
- execution of orders for crypto-assets on behalf of clients;
- placing of crypto-assets;
- reception and transmission of orders for crypto-assets on behalf of clients;
- providing advice on crypto-assets;
- providing portfolio management on crypto-assets;
providing transfer services for crypto-assets on behalf of clients
If the authorisation is granted in Slovakia, the CASP license allows an entity to legally operate across 27 EU member states.
How Is Cryptocurrency Regulated in Slovakia?
Slovakia has adopted a local legal act on crypto-assets that defines the National Bank of Slovakia (NBS) as a competent regulatory authority, sets basic requirements for reporting to the NBS, and regulates examinations for individuals who provide advice on crypto-assets, among other things. Also, existing legal acts that regulate crypto-asset markets on an EU level are applicable in Slovakia.
What Are the Benefits of Getting a Crypto License in Slovakia?
In Slovakia, the company registration and CASP licensing processes are fully remote and can be completed via a Power of Attorney (PoA) when needed
The licensing process is comprehensive and fast. Here, regulatory and operational costs to maintain a CASP license are relatively low, compared with other EU member states, such as Malta. An additional benefit is the flexible organisational structure of an entity. In Slovakia, 100% foreign ownership of crypto companies is allowed. An AML officer and a company director are not restricted to holding only Slovak citizenship, but they must be citizens of any EU member state.
What Are the Advantages of a CASP License in Slovakia?
A CASP license in Slovakia is beneficial because of the comfortable local regulatory practices and low pre-operating and operating expenseThe NBS and MiCA guidelines require actual physical presence in the jurisdiction and a local office to run a business. Here, a licensed service provider can establish partnerships with banks and payment service providers and legally enter the EU market. But a Slovak CASP does not give a company an automatic, legal right to operate globally.
What Are the Requirements for Obtaining a CASP License in Slovakia?
Obtaining a CASP license in Slovakia, an entity should have a minimum share capital starting from €50,000, provide proof of funds and source of income, and be ready to pass strict anti-money laundering and management suitability checks. The CASP must obtain a license after the following tasks are implemented:
- memorandum and articles of association (MAA) and other legal documents needed for company incorporation are developed;
- AML/KYC/CFT policies are described in a comprehensive internal document under FATF recommendations and EU regulations;
- share capital at company registration is paid;
- a company and office are registered, a bank account is opened, and top management with an impeccable business reputation is appointed;
- non-criminal records, fit and proper assessments, credentials, a copy of ID papers, and proof of address for the shareholder and director are prepared;
- an AML officer is appointed, and compliance officer qualifications are added;
- additional capital complying with the class of the CASP license is deposited;
- a business plan with financial forecasts is developed;
Now, CASP can submit an application to the NBS, detailing the company’s business model and scope of services.
What Are the Capital and AML/KYC Requirements for CASPs in Slovakia?
The MiCAR capital thresholds are the same in all EU member states. CASPs must deposit a minimum share capital of €50,000, €125,000, or €150,000, corresponding to the relevant CASP license class.
Under MiCA, crypto businesses must adhere to the Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) regulations. Service providers must comply with EU-wide standards and ensure business transparency, customer protection, and financial stability.
How Does the CASP Licensing Process Work in Slovakia?
In Slovakia, the CASP licensing process is straightforward. It involves multiple steps and constant interaction with the regulator. An applicant can submit in person or remotely.
In full, preparation takes approximately 2 months. Approval times are 3–5 months after an application is submitted to the NBS. This includes a review period of up to 30 business days during which the accuracy and compliance of documents are checked. To reduce time, applicants can involve the SBSB legal team.
What Are the Steps to Apply for a CASP License in Slovakia?
A well-prepared applicant can obtain a license in 6-9 months, taking the following steps:
- Ensure that your services need licensing and define the license type.
- Register a Slovak company with an appointment required, pay share capital, register a registered address, and develop internal documentation. In addition, businesses must hire the required qualified staff and rent a physical office in the country.
- Develop and submit a business plan with a business model and risk assessment.
- Arrange a set of documents required to obtain a CASP license.
- Pay the application fee.
- Submit a CASP application with the documents to the NBS.
- Wait until the NBS reviews and assesses the documents and responds to queries, if any.
- Obtain the CASP authorisation granted by the NBS and provide services.
Optionally, a pre-application meeting with the NBS representatives can be arranged to discuss the business model and to get informal guidance on documents.
How Is a CASP Company Incorporated in Slovakia?
To provide crypto-asset services, the establishment of the company in Slovakia is mandatory. The incorporation documents must be filed with the Slovak Commercial Register. It can be done via the official portal or through a public notary. The minimum share capital for registration is €5,000, which must be increased before submitting a CASP license application.
How Does the Application Submission Process Work in Slovakia?
Submitting a CASP application in Slovakia is governed by the EU’s MiCA. The process is well-arranged and comprehensive. The NBS encourages pre-submission communication and can require additional documents after submission to grant authorisation.
How Does the Regulatory Review Process Work in Slovakia?
The CASP license Slovakia review process is supervised by the National Bank of Slovakia under MiCAR. When preparing the documents, service providers must meet rigorous requirements and evaluate compliance before filing. The submitted documentation is formally reviewed for about 25 working days. After completeness is assessed, in-depth analysis takes at least 3 months.
What Happens After CASP License Approval in Slovakia?
Once the authorisation is granted, a licensed CASP can operate throughout the EU/EEA after notifying the NBS of providing international services, so that the regulator notifies the competent authorities of the target countries.
What Is the Tax Regime for Crypto Businesses in Slovakia?
Slovakia applies a corporate income tax system based on the CASP’s annual taxable income. The rates are as follows:
- 10% on up to €100,000;
- 21% on €100,001–5,000,000;
- 24% on above €5,000,000.
Across the EU, simply buying or selling crypto-assets does not incur VAT. But if this is the case, the VAT rate is 23%.
What Should You Know Before Applying for a CASP License in Slovakia?
Before applying for a CASP license in Slovakia, you should know that the process can be challenging. To facilitate EU single market passporting, you are welcome to reach out to our team to see how we can assist you. We ensure a seamless submission process under MiCA. Slovakia is one of the best locations for mid-sized businesses. If you want to access a lucrative market with a premium institutional reputation, we recommend considering Austria.
FAQ About CASP License in Slovakia
Who issues CASP licenses in Slovakia?
CASP licenses in Slovakia are issued by the National Bank of Slovakia (NBS), which acts as both the central bank and the main supervisory authority for crypto‑asset service providers under the MiCA framework.
What types of activities require CASP authorisation in Slovakia?
Activities such as operating a crypto‑asset trading platform, providing custody or wallet services, exchanging crypto‑assets, and executing client orders generally fall within the scope of MiCA and require CASP licensing from NBS.
Which documents are needed to apply for a CASP license in Slovakia?
Applicants must typically submit detailed forms and supporting documents, including information about their corporate structure, governance, business plan, risk management, and AML/CFT procedures, as specified in NBS application guidelines.
How long does NBS take to review a CASP application?
There is no fixed public timeline for all cases, but NBS follows MiCA timeframes and may extend the review if it needs additional information, so applicants should plan for several months from submission to final decision.
Can foreign founders obtain a CASP license in Slovakia?
Foreign founders can obtain a CASP license in Slovakia through a locally incorporated entity, provided they meet MiCA and national requirements on governance, substance, fit‑and‑proper criteria, and AML/CFT compliance.
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