MiCA CASP licensing Latvia: The gateway for European fintech licensing
Since 1 July 2026, non-licensed crypto-asset service providers have had to leave the EEA, leaving only about 20% of platforms authorised and opening up new opportunities for licensed entrants. Ecovis experts advise crypto and fintech companies to consider Latvia as one of the fastest and most cost-efficient entry points into the European market for MiCA and payment institution licensing, enabling business models that combine crypto-asset services with fiat payment flows.
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Key facts
- 10 MiCA (CASP) licences have been issued in Latvia to date, 8 of which were granted between 13 May 2026 and 9 July 2026.
- Most applicants combine licence filings in order to serve both fiat and crypto flows under a single roof.
- The objectives set out in Latvia’s fintech strategy include increasing the number of fintech companies in Latvia by one third.
We support your market entry – from licensing strategy and preparation of combined CASP and payment or electronic money institution applications, through pre‑licensing dialogue with Latvijas Banka, to building your AML/CTF and compliance framework and providing regulatory support after authorisation. Our team has successfully advised clients in more than 40 end‑to‑end fintech licensing processes that resulted in regulatory authorisations.
Inga Karulaityte, Partner, Attorney-at-Law, Certified Anti-Money Laundering Specialist (ACAMS), Vilnius, Lithuania and Riga, Latvia
Why Latvia
- Lowest CASP application fee in the EU (EUR 2,500); annual supervision fee of 0.6% of gross revenue (minimum EUR 3,000).
- 0% corporate income tax on undistributed or reinvested profits (20% applies upon distribution).
- Very high AML rating in MONEYVAL’s February report.
- Around 100 free pre-licensing consultations per year from Latvijas Banka, with documents accepted in English.
- Direct SEPA access via the Latvijas Banka Electronic Clearing System (EKS) and instant payee name verification for improved fraud prevention.
- Latvia’s regulator intends to comply with ESMA’s MiCA staff competence guidelines by 30 September 2026 (10 licensed CASPs have a few extra months to prepare training records and internal policies).
Recommendations for companies
Companies should secure their MiCA licence now to position themselves to serve market demand following the departure of non-compliant firms. Delaying entry will increase future client acquisition and marketing costs. A MiCA CASP application requires thorough preparation of the business plan, governance structure, and AML/CTF framework, which is where the professional advisory support provided by Ecovis delivers the most value.
