CASP license in Bulgaria

Bulgaria

Bulgaria licenses crypto-asset businesses as a ДУКА — Доставчик на услуги за криптоактиви (CASP — Crypto Asset Service Provider) under the EU's MiCA framework. The license is issued by the Financial Supervision Commission (FSC), which maintains a public register of…

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Before applying for a CASP license, you must first register a Bulgarian legal entity. The recommended default vehicle is the ООД / ЕООД (Дружество с ограничена отговорност — Limited Liability Company), a single-member (ЕООД) or multi-member (ООД) LLC — the simplest and most commonly used form for licensed commercial activity in Bulgaria. Other legal forms (e.g. АД/ЕАД joint-stock company, branch of a foreign company) are also available — see the Basic company reference for the full list.

Key confirmed points for the CASP-relevant LLC route:

• Companies are registered with the Commercial Register and Register of Non-Profit Legal Entities (Registry Agency).
• A commercial address is required, and a virtual office is accepted.
• The general LLC minimum registered capital is BGN 2 (note: this is the standard company-formation capital figure, separate from any MiCA CASP capital-class requirement).
• The manager and shareholders may be non-resident.

For business banking, commonly used banks include UniCredit Bulbank, DSK Bank, United Bulgarian Bank (UBB), Raiffeisenbank Bulgaria, and First Investment Bank (Fibank).

Bulgaria offers an EU-passportable MiCA CASP license through a single national regulator, alongside comparatively straightforward company formation (BGN 2 minimum LLC capital, virtual office and non-resident ownership all accepted). Confirmed licensing requirements include:

• Licensing and supervision by the Financial Supervision Commission (FSC); e-money token (EMT) issuers are separately supervised by the Bulgarian National Bank (BNB).
• The appointed manager must have 3–5 years of financial-sector (risk/compliance) experience, pass a fit-and-proper test, and have no criminal record.
• A designated AML officer is mandatory, alongside standard AML/KYC procedures.
• FSC application fees range from BGN 5,000 to BGN 30,000 (approx. €2,500–€15,000) depending on the activity class applied for.
• Taxpayer registration is handled by the National Revenue Agency (NRA).
• Licensed entities are listed on the FSC's public Register of licensed crypto-asset service providers, which discloses the specific services authorised — these can include custody and administration of crypto-assets, exchange of crypto-assets for funds or other crypto-assets, execution and reception/transmission of client orders, placing of crypto-assets, advice on crypto-assets, and portfolio management.
• Applicable taxes: corporate income tax 10%, dividend tax 5%, mining income tax 10%, VAT 20%.

• A manager with 3–5 years of financial-sector (risk/compliance) experience, able to pass an FSC fit-and-proper test with no criminal record.
• A designated AML officer responsible for AML/KYC procedures.

Bulgaria licenses crypto-asset businesses as a ДУКА — Доставчик на услуги за криптоактиви (CASP — Crypto Asset Service Provider) under the EU's MiCA framework. The license is issued by the Financial Supervision Commission (FSC), which maintains a public register of licensed providers (Регистър на лицензираните доставчици на услуги за криптоактиви) recording each licensee's decision number, date, EIK and the specific list of crypto-asset services it may perform. This guide walks through company formation and the CASP licensing process for Bulgaria.

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Estimated total regulatory timeline (FSC stages only): approximately 2–4 months from application submission to license grant; this does not include the company-registration stage, whose timeframe is not confirmed in available sources.

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• Financial Supervision Commission