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Licensing
Applying for the financial licence your activity requires, in a country that suits your business.
- Forex, crypto and gaming
- EMI and payment institution
- Country comparison and application
Regulated activities need a licence before they start. Requirements differ by country: capital, people, office and policies. We help you choose where to apply and prepare an application the regulator can assess. The five licence pages compare the regulators, from CySEC, the FCA and the MFSA to Seychelles, Mauritius, Labuan, Vanuatu, the BVI and Dubai's VARA, with their own capital, fees and timelines.
What Licensing covers
Forex licence
Licences for offering forex and related trading services.
- Fourteen jurisdictions compared
- Capital, fees and timelines from the regulators
- Application prepared with you
Crypto licence
Licences and registrations for crypto-asset services.
- MiCA, VARA and the offshore regimes
- Capital and fees from the regulators
- Application prepared with you
Gaming licence
Licences for online gaming operators.
- Malta, Curaçao, Isle of Man and more
- Fees and duties from the regulators
- Application prepared with you
EMI licence
Licences for issuing electronic money.
- €350,000 of capital across the EU and the UK
- Singapore and Hong Kong compared
- Safeguarding and policies prepared with you
Payment institution licence
Licences for providing payment services.
- €20,000 to €125,000 of capital by service
- EU, UK, Singapore and Canada compared
- Application prepared with you
Which do you need?
Forex
- For
- Trading services for clients
Crypto
- For
- Crypto-asset services for clients
Gaming
- For
- Online games of chance or skill
EMI
- For
- Issuing electronic money and payments
Payment institution
- For
- Payment services without issuing e-money
The regulators
The authorities behind the licences on these pages, and what each one licenses. The licence pages carry the capital, fees and steps of each.
- CySECCyprus Securities and Exchange Commission: investment firms, crypto-asset service providers, funds.Details
- FCAFinancial Conduct Authority: the United Kingdom's conduct regulator for investment, payment, e-money and crypto firms.Details
- MFSAMalta Financial Services Authority: investment, payment, e-money and crypto licences beside the gaming authority.Details
- Bank of LithuaniaThe central bank that made Lithuania the EU's EMI capital, now authorising crypto-asset providers under MiCA.Details
- FSA SeychellesFinancial Services Authority: securities dealers, virtual-asset providers, funds and the company registry.Details
- FSC MauritiusFinancial Services Commission: global business companies, investment dealers, funds and virtual-asset providers.Details
- VARADubai's Virtual Assets Regulatory Authority: a regulator dedicated to virtual assets alone.Details
- MGAMalta Gaming Authority: Europe's reference gaming regulator for operators and suppliers.Details
- Labuan FSALabuan Financial Services Authority: Malaysia's international business and financial centre.Details
CySEC
Cyprus Securities and Exchange Commission: investment firms, crypto-asset service providers, funds.
Where
Cyprus.
Licenses
- Cyprus Investment Firms (forex and CFD brokers)
- Crypto-asset service providers under MiCA
- Fund managers and funds
Last reviewed: 2026-11-11
Sources
FCA
Financial Conduct Authority: the United Kingdom's conduct regulator for investment, payment, e-money and crypto firms.
Where
United Kingdom.
Licenses
- Investment firms (CFDs, spread betting, rolling spot forex)
- Payment and electronic money institutions
- Cryptoasset businesses
Last reviewed: 2026-11-11
Sources
MFSA
Malta Financial Services Authority: investment, payment, e-money and crypto licences beside the gaming authority.
Where
Malta.
Licenses
- Investment services licences
- Payment and electronic money institutions
- Crypto-asset service providers under MiCA
Last reviewed: 2026-11-11
Sources
Bank of Lithuania
The central bank that made Lithuania the EU's EMI capital, now authorising crypto-asset providers under MiCA.
Where
Lithuania.
Licenses
- Electronic money and payment institutions
- Crypto-asset service providers under MiCA
- Specialised banks
Last reviewed: 2026-11-11
Sources
FSA Seychelles
Financial Services Authority: securities dealers, virtual-asset providers, funds and the company registry.
Where
Seychelles.
Licenses
- Securities dealers (forex and CFD brokers)
- Virtual asset service providers
- Funds and fund administrators
Last reviewed: 2026-11-11
Sources
FSC Mauritius
Financial Services Commission: global business companies, investment dealers, funds and virtual-asset providers.
Where
Mauritius.
Licenses
- Investment dealers and advisers
- Virtual asset and token offering services
- Global business licences and funds
Last reviewed: 2026-11-11
Sources
VARA
Dubai's Virtual Assets Regulatory Authority: a regulator dedicated to virtual assets alone.
Where
Dubai (UAE).
Licenses
- Exchange, broker-dealer and custody services
- Lending, management, advisory and transfer services
- Virtual-asset issuance
Last reviewed: 2026-11-11
Sources
MGA
Malta Gaming Authority: Europe's reference gaming regulator for operators and suppliers.
Where
Malta.
Licenses
- B2C gaming service licences, types 1 to 4
- B2B critical gaming supply licences
- Key function holders
Last reviewed: 2026-11-11
Sources
Labuan FSA
Labuan Financial Services Authority: Malaysia's international business and financial centre.
Where
Labuan (Malaysia).
Licenses
- Money broking (forex intermediaries)
- Labuan companies, banks, insurers and fund managers
- Digital financial services
Last reviewed: 2026-11-11
Sources
How it works
- 1ConsultationWe talk through what you need, where you operate and what you already have in place.
- 2PlanYou receive a plan that sets out the steps, the documents and the parties involved, so you can decide how to proceed.
- 3Set-upWe prepare the applications and documents with you and coordinate with the providers involved.
- 4Ongoing supportAfter set-up, we stay available for renewals, changes and questions.
Frequently asked questions
Still have a question?
Talk to usHow long does it take?
It depends on the jurisdiction, the provider and the documents involved. We give you an estimate for the licence after the consultation.
What does it cost?
Costs depend on the jurisdiction and on the services you choose. We set them out for the licence after the consultation, before any work starts.
Do I need to travel?
Some steps can be completed remotely and others need you in person. We tell you which applies to your case before you start.
How do I choose the country?
We compare the countries that license your activity against your business plan, markets and resources, and recommend where to apply.
Used in these set-ups
What comes next
Each service leads to the next: the structure, then the accounts, then the payments and the licence.
Plan your licence with us
Talk to us- IncorporationForming a company or foundation, and keeping it in good standing.Talk to us
- BankingBusiness and personal accounts, and accepting payments.Talk to us
- LicensingFinancial licences for regulated activities.Talk to us
- InvestmentsOpening investment accounts for a company or for yourself.Talk to us