Crypto License in Spain: MiCA Application Support

Is Spain the Right Fit

Suitable fit
Spain fits if you will provide some services there, with effective EU management and at least one EU-resident director. Ownership and target markets must support that plan.

Needs further classification
Token issuance, securities and electronic money token (EMT) payments need separate analysis. Non-fungible token (NFT) and decentralized finance (DeFi) labels alone establish no exemption.

Choose the Applicable Route

Legacy VASP registration is no longer an entry route.

Define Your Service Scope

MiCA covers custody, trading platforms, exchange for funds, exchange for crypto-assets, order execution, placing, receiving and transmitting orders, advice, portfolio management and transfers.

Custody means safeguarding or controlling client assets or the means of accessing them, including private keys. Providers need custody agreements, position records, procedures to keep client assets separate and return them, and statements. Transfers require their own service analysis.

Adding services requires an authorization extension. CASP permission does not automatically cover token issuance, securities or payments.

What Gofaizen & Sherle Supports

Assessment
Gofaizen & Sherle uses your operating details to identify the applicable route and requirements.

Preparation
Gofaizen & Sherle prepares agreed documents and coordinates compliance and technology work. Your management provides evidence, implements controls and remains responsible for operations.

Application
Gofaizen & Sherle supports filing and helps you respond to CNMV using complete client inputs. CNMV decides authorization, and banks decide account opening.

Costs and Engagement Scope

Prepare the Application Evidence

Initial business details help identify your route. For filing, prepare:

• Corporate records and direct/indirect ownership and control evidence
• Management fitness, governance, staff and real operating arrangements
• Business plan, services and safeguards evidence
• Anti-money laundering, risk, complaints and client-asset procedures
• Technology/security, continuity, outsourcing and service-specific procedures

Understand the Review Timeline

Under Article 63, CNMV has five working days to acknowledge receipt and 25 to review completeness. CNMV must assess and decide within 40 working days of receiving a complete application, then notify the applicant within five working days after its decision. A qualifying information request by assessment day 20 can suspend assessment for up to 20 working days. Correcting an initially incomplete application adds time.

Client setup, adviser preparation and third-party reviews take additional time. Article 60 has its own 20-working-day completeness review and suspension rules. These periods do not set a launch date.

The Legal Framework

MiCA Title V governs CASP permission. Spanish anti-money laundering and counter-terrorist financing rules, transfer-information requirements under the Transfer of Funds Regulation (TFR) and digital operational resilience rules under the Digital Operational Resilience Act (DORA) add operational duties. Our MiCA guide explains the wider EU regime.

Current Status in Spain

Prudential Safeguards and Share Capital

Prudential safeguards are the financial backing a CASP must maintain. Article 67 requires you to compare two amounts and use the higher of them: the minimum for your service class, or one quarter of annual fixed overheads, meaning fixed running costs. Class 1 covers the other listed services at €50,000. Custody or exchange requires Class 2’s €125,000, and trading platforms require Class 3’s €150,000. First-year calculations use projected overheads.

You may meet the requirement with the company’s own funds, compliant insurance or a comparable guarantee, or a combination. Article 60 entities are exempt under Article 60(10). Corporate share capital is a separate requirement. These amounts are not consultancy fees.

Compliance After Authorization

MiCA
Management must continue to meet authorization conditions, review overheads annually and controls periodically, keep records and notify changes.

AML/TFR
Financial-crime staff maintain customer checks and information on covered transfers, with reporting and records based on applicable risks and events.

DORA
Technology and control owners document technology risks, incidents, testing and third-party controls under the applicable schedules.

Custody
The custody owner keeps client assets separate and provides position statements at least quarterly.

Tax and Accounting
Finance maintains records and follows the company’s filing calendar.

Banking and Payment Readiness

An operating account does not satisfy client-fund safeguarding. Article 70 generally requires client funds other than EMTs to reach a credit institution or central bank by the following business day’s end. An electronic money institution or payment service provider is not an automatic substitute.

For bank review, prepare details of services and transaction flows, owners and ultimate beneficial owners (UBOs), countries, sources of funds and AML/risk controls. Banks decide onboarding. EMT-related payment services may also require permission under the Payment Services Directive (PSD2).

Company Tax Considerations

For tax periods beginning in 2026, Spain’s general corporate income tax rate is 25%. Reduced rates depend on company category and eligibility. Assess company taxation separately from an owner’s personal crypto gains.

Compare Relevant Jurisdiction Options

Choose where the business can actually operate. Both routes require effective EU management and at least one EU-resident director.