Slovakia as a MiCA Hub: How to Obtain a CASP License Efficiently

At the ETH Silesia conference, Peter Varga and Roman Baranec from Highgate Group shared practical insights into CASP licensing under MiCA Regulation and explained why Slovakia is becoming an increasingly attractive jurisdiction for crypto businesses. With relatively low competition, pragmatic regulator, and flexible structuring options, Slovakia is emerging as a serious alternative within Central and Eastern Europe.

Why Slovakia? A market with low saturation and high success rate

Until the end of 2024, operating a crypto business in Slovakia was relatively straightforward under trade licensing. However, with the introduction of MiCA Regulation in EU, the regulatory environment has significantly evolved.

Today the situation is the following:

• So far 6 CASP licenses have been granted in Slovakia.
• Our estimate is than fewer than 10 active applications are currently under review.
• Compared to nearly 250 applications in the Czech Republic, Slovakia remains a largely untapped jurisdiction.

This creates a favourable application environment, particularly where the application is properly prepared and aligned with regulatory expectations.

From our experience at Highgate, we have advised on more than 50% of successful applications, and we still actively advise in applications for the provision of crypto-asset services including to cross-border clients.

The licensing process: Structured, but pragmatic

The CASP licensing process in Slovakia is based on the EU-wide MiCA framework, while certain practical aspects may differ in implementation.

Key phases are:

1. Pre-licensing meeting with the National Bank of Slovakia (it’s not obligatory but we recommend it once the application is in advanced state of preparation).

2.Submission of application.

3.Completeness assessment (most demanding phase).

4.Full assessment and fine-tuning.

5.License issuance and EU passporting.

Timeline of the licensing proceedings:

• Typically 5 to 6 months if the application is properly prepared. Of course, each application is assessed on case-by-case basis and the licencing process may, therefore, be shorter or longer.
• To the first applicant in Slovakia (whom we represented) it took up to 11 months to get the licence, but later cases were significantly faster.

A key advantage is the regulator’s openness to dialogue. Meetings are possible when necessary, ad-hoc communication can take place to address any unclear issues and English is accepted for example in case of technical documentation.

Substance and organizational requirements: What you actually need

Since early 2026, Slovakia has tightened substance requirements, but they remain still manageable.

Minimum setup includes:

• Local office space (a lot of crypto companies have their seat in coworking spaces).
• At least one Slovak-resident director.
• A local compliance officer (this function cannot be outsourced).
• Availability of documentation at the registered office.

As for organizational framework, the smaller CASPs in Slovakia are structured as follows:

• There is no supervisory board.
• One compliance function is responsible for the whole internal control.
• The overall personnel consist usually of 5 persons at the start of CASP’s operations.

This makes Slovakia particularly attractive for startups and smaller crypto businesses.

Tax Structuring: Flexibility as a Competitive Edge

One of the most important aspects is tax structuring flexibility.

For CASPs the following tax rules apply:

• Corporate income tax between 10% and 24%.
• Zero tax on dividends for corporate shareholders.

It is possible to structure the CASP as a non-Slovak tax resident, while still being regulated in Slovakia. This means a CASP can hold a Slovak license, operate under Slovak supervision, and at the same time optimize taxation internationally.

Regulatory expectations: What matters most

Across all applications (including the one for CASP licence), regulator consistently focuses on:

• Transparent ownership structure.
• Source of funds verification.
• Financial resilience, including in stress scenarios.
• Qualified management and personnel.
• Robust ICT and internal policies.

While for example internal policies can be adjusted during the licencing proceedings, the ownership structure and funding sources must be set up correctly from the beginning.

Slovakia in practice: A strategic entry point to the EU

Slovakia combines EU passporting access, cost efficiency, and practical regulator approach.

For many applicants, subject to comply with substance requirements, it represents a balanced entry point into the European crypto market.

If you want to learn more, full video from the ETH Silesia event featuring Peter Varga and Roman Baranec is available here:

If you are interested in this topic, please do not hesitate to contact us:

• Peter Varga, e-mail: peter.varga@highgate.sk
• Roman Baranec, e-mail: roman.baranec@highgate.sk

You can find more information on Crypto and legal and tax structures on our website in this section: Crypto and legal and tax structures

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