Minimum capital
EUR 350,000 Or 2% of average reserve assets, or a quarter of fixed overheads, whichever is highest. MiCA Article 35.
Requirements
What it takes.
Application fee
Set by each national authority
Annual fee
Set nationally; EBA charges significant issuers on cost recovery
Decision time
25 working days From the authority deeming the application complete, MiCA Article 21(2). In practice three to eighteen months.
Foreign firms
No direct third-country authorisation. EU incorporation required.
Reserve rule
Reserve at least equal to tokens outstanding, redemption at par on request
Compare this against every other regime in the full comparison, or see the licences recorded in this market.