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Obtaining CASP in Austria

Obtaining CASP in Austria

As everyone who follows the status of digital assets in the European Union knows, the cryptocurrency market in Europe continues to develop actively, and Austria, in particular, occupies one of the leading places among EU countries that provide a transparent and understandable legal framework for activities in the field of digital assets.

Yes, to legally provide services related to cryptocurrencies and other virtual assets in Austria, it is necessary to obtain CASP (Crypto-Asset Service Provider) status.

Our team at the Law Firm “Prikhodko and Partners” provides support in the process of obtaining a CASP license at all possible stages, namely: from the preliminary analysis of the project to successful registration with the Austrian regulator.

What is CASP and why is it important?

CASP — This is an official status that allows a company, in our case in Austria, to legally conduct transactions with cryptocurrencies, tokens, and other virtual assets.

This status is regulated within the framework of national legislation and European Union regulations (in particular, the MiCA Regulation, which is gradually being implemented in EU member states).

Without proper registration, any activity related to the exchange, storage, or management of crypto assets is considered illegal and can result in significant fines and blocking of activities.

Who should obtain CASP status in Austria?

Registration as a CASP is mandatory for companies that provide at least one of the following types of services:

  • Exchange of virtual assets for fiat currencies or vice versa;
  • Exchange of crypto assets among themselves;
  • Storage of cryptocurrencies on behalf of clients (custodial services);
  • Cryptocurrency wallet management;
  • Conducting ICO, IEO or other methods of public token placement;
  • Providing advice or investment services in the field of virtual assets.

The difference between CASP and VASP: what you need to know

It should be noted that before the implementation of the MiCA (Markets in Crypto-Assets Regulation) in Austria and other EU countries, the main legal status for companies working with cryptocurrencies was VASP (Virtual Asset Service Provider).

VASP covered the same core business areas as CASP, but had a national regulatory framework. In Austria, VASP registration was carried out by the FMA, allowing it to operate within the Austrian market while complying with local AML/KYC requirements.

CASP — this is already a European standard, which is being implemented thanks to MiCA.

Its key differences:

  • Single regulation for all EU countries — CASP obtained in Austria gives you the right to work throughout Europe without additional licenses in each state.
  • Stricter requirements for capital, compliance and corporate governance.
  • Extended list of services and more detailed requirements for each of them.
  • Enhanced control over consumer protection.

In other words, VASP is a preliminary stage, and CASP is the next, EU-harmonized regulatory format.

Main legislative requirements and regulation

In Austria, the FMA (Financial Market Authority) regulates CASP activities.

To obtain the status of a crypto-asset service provider, the applicant must meet the requirements set out in Austrian law, including:

  1. Legal form of the company — GmbH (analogous to Ukrainian LLC) or AG is most often used.
  2. Local office and director — a real legal address in Austria and at least one EU resident director are required.
  3. Qualified personnel — the presence of specialists with proven experience in finance, cryptocurrencies, or compliance.
  4. AML/KYC compliance — development and implementation of internal policies to combat money laundering and terrorist financing.
  5. Reputational requirements — the owners and managers of the company must have an impeccable business reputation, no criminal records or bankruptcies.
  6. Financial stability — confirmation of sufficient capital to carry out the declared activity.

Steps to obtain CASP in Austria

We offer a full range of services, including:

  1. Analysis of the client’s business model — determining the compliance of activities with CASP requirements, choosing the optimal organizational and legal form.
  2. Company registration in Austria — preparation of constituent documents, registration in the commercial register (Firmenbuch), opening a bank account.
  3. Preparation of AML/KYC documentation — development of internal policies and procedures, instructions for employees, reporting forms.
  4. Preparation and submission of a package of documents to the FMA — forming an application, preparing an explanatory note on activities, providing information on the ownership structure.
  5. Communication with the regulator — responses to inquiries, clarifications and amendments to submitted materials.
  6. Obtaining permission and registration in the official CASP registry — inclusion of the company in the public list of crypto-asset service providers.

Benefits of obtaining a CASP in Austria

  • Legal activity throughout the EU — the Austrian license is recognized in other European Union countries.
  • High level of trust — banks, investors, and partners perceive regulated companies positively.
  • Stable regulatory environment — Austria is known for its predictable financial policy.
  • Ability to scale your business — entering new markets and attracting international clients.

What should companies that currently have VASPs in Austria do?

If your company is already registered as a VASP in Austria, please note that once MiCA is fully implemented, the national VASP registers will cease to exist in their current form. You will need to re-register as a CASP to continue your business.

Key steps for such companies:

  1. Evaluate current activities — whether all services comply with the new MiCA and FMA requirements.
  2. Conduct an audit of internal AML/KYC policies — MiCA provides for enhanced standards and detailed transaction monitoring procedures.
  3. Check corporate structure — CASP may have additional requirements for director residency, financial performance, and ownership transparency.
  4. Prepare a package of documents for FMA — this is actually an updated application that will comply with new regulatory requirements.
  5. Submit documents on time — The FMA sets specific transitional deadlines, the failure to which may result in the loss of the right to operate.

внесення змін до ліцензії

Conclusion

Considering all of the above, we can note that obtaining a CASP in Austria is not just a formality, but a complex process that requires a clear understanding of legislative requirements, preparation of documents, and building a reliable compliance system.

The right approach to this process opens up broad opportunities for companies to operate in the European cryptocurrency market, increases the trust of investors and partners, and also allows them to avoid legal risks in the future.

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Do you have residency in Austria?

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Do you have a company in Austria?

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of an individual entrepreneur in Turkey Registration of an LLC (BV) in the Netherlands Registration of an offshore company Registration of individual entrepreneurs (analogue) in Bulgaria Registration of LLC in Great Britain REGISTRATION OF THE COMPANY (LLC) IN THE CZECH REPUBLIC Relocation of business to Europe Relocation of business to the territory of the European Union RENT ADDRESS FOR THE COMPANY VIRTUAL OFFICE IN AUSTRIA RENT ADDRESS FOR THE COMPANY VIRTUAL OFFICE IN TURKEY RENT ADDRESS FOR THE COMPANY. VIRTUAL OFFICE IN BULGARIA RENT ADDRESS FOR THE COMPANY. VIRTUAL OFFICE IN CYPRUS RENT ADDRESS FOR THE COMPANY. VIRTUAL OFFICE IN GERMANY RENT ADDRESS FOR THE COMPANY. VIRTUAL OFFICE IN ITALY RENT ADDRESS FOR THE COMPANY. VIRTUAL OFFICE IN POLAND RENT ADDRESS FOR THE COMPANY. VIRTUAL OFFICE IN ROMUNIA RENT ADDRESS FOR THE COMPANY. VIRTUAL OFFICE IN SLOVAKIA RENT ADDRESS FOR THE COMPANY. VIRTUAL OFFICE IN THE CZECH REPUBLIC RENT ADDRESS FOR THE COMPANY. VIRTUAL OFFICE IN THE UAE RENT ADDRESS FOR THE COMPANY. VIRTUAL OFFICE SWITZERLAND RENT OF A LEGAL ADDRESS IN DENMARK RENT OF A LEGAL ADDRESS IN UK RENT OF ADDRESSES FOR THE COMPANY. VIRTUAL OFFICE IN ESTONIA RENT OF ADDRESSES FOR THE COMPANY. VIRTUAL OFFICE IN HUNGARY RENT OF ADDRESSES FOR THE COMPANY. VIRTUAL OFFICE IN PORTUGAL RENT OF ADDRESSES FOR THE COMPANY. VIRTUAL OFFICE IN SPAIN RENT OF ADDRESSES FOR THE COMPANY. VIRTUAL OFFICE IN THE USA RENT OR BUY REAL ESTATE (APARTMENT, HOUSE, OFFICE, WAREHOUSE) IN ESTONIA RENT OR BUY REAL ESTATE (APARTMENT, HOUSE, OFFICE, WAREHOUSE) IN SPAIN RENT OR BUY REAL ESTATE (APARTMENT, HOUSE, OFFICE, WAREHOUSE) IN THE USA RENT OR BUY REAL ESTATE (APARTMENT, HOUSE, OFFICE, WAREHOUSE) IN TURKEY RESIDENCE PERMIT IN HUNGARY RESIDENCE PERMIT IN SLOVAKIA Scaling your business abroad SELECTING PROPERTY TO BUY OR RENT IN SWITZERLAND SELECTING PROPERTY TO BUY OR RENT IN TURKEY SELECTION OF PROPERTY TO BUY OR RENT IN BULGARIA SELECTION OF PROPERTY TO BUY OR RENT IN CYPRUS SELECTION OF PROPERTY TO BUY OR RENT IN HUNGARY SELECTION OF PROPERTY TO BUY OR RENT IN ITALY SELECTION OF PROPERTY TO BUY OR RENT IN POLAND SELECTION OF PROPERTY TO BUY OR RENT IN ROMUNIA SELECTION OF PROPERTY TO BUY OR RENT IN SLOVAKIA SELECTION OF PROPERTY TO BUY OR RENT IN THE UAE SELECTION OF REAL ESTATE FOR BUYING OR RENTING IN AUSTRIA SELECTION OF REAL ESTATE FOR BUYING OR RENTING IN DENMARK SELECTION OF REAL ESTATE FOR PURCHASE OR RENT IN ESTONIA SELECTION OF REAL ESTATE FOR PURCHASE OR RENT IN PORTUGAL SELECTION OF REAL ESTATE FOR PURCHASE OR RENT IN THE USA SELECTION OF REAL ESTATE TO BUY OR RENT IN THE CZECH REPUBLIC Self-Employed Person (SEP) in Malta TAX ADVICE IN BULGARIA TAX ADVICE IN CYPRUS TAX ADVICE IN GERMANY TAX ADVICE IN ITALY TAX ADVICE IN ROMANIA TAX ADVICE IN SLOVAKIA TAX ADVICE IN SWITZERLAND TAX ADVICE IN THE CZECH REPUBLIC TAX CONSULTATION IN AUSTRIA TAX CONSULTATION IN DENMARK TAX CONSULTATION IN ESTONIA Tax consultation in Europe TAX CONSULTATION IN HUNGARY TAX CONSULTATION IN POLAND Tax consultation in Saudi Arabia TAX CONSULTATION IN SPAIN TAX CONSULTATION IN THE USA TAX CONSULTATION IN TURKEY Tax consulting in India TAX IN PORTUGAL Tax optimization in Latvia Tax structuring in Belgium Tax structuring in Finland Tax structuring in France Tax structuring in Lithuania Tax structuring in Luxembourg Tax structuring in Slovenia Tax structuring in the Netherlands Tax system for Ukrainians in Italy Tax system in Cyprus Tax system in Malta Taxation for Ukrainians in the Czech Republic Taxation of Ukrainians in Britain Taxation of Ukrainians in Estonia Taxation of Ukrainians in Germany TAXATION SYSTEM FOR UKRAINIANS IN SPAIN TEMPORARY RESIDENCE PERMIT IN DENMARK TEMPORARY RESIDENCE PERMIT UN AUSTRIA The opening of the GmbH in Germany The system of taxation of Ukrainians in Austria The system of taxation of Ukrainians in Slovakia The system of taxation of Ukrainians in Slovenia The taxation system for Ukrainians in Canada The taxation system for Ukrainians in Croatia The taxation system for Ukrainians in Ireland The taxation system in Austria To obtain a citizenship of Great Britain Trademark registration in France Transfer of corporate rights to a foreign holding company Transferring business assets to another country Transferring business assets to the UK UAE TAX ADVICE UK TAX ADVICE VERIFICATION OR DUE DILIGENCE OF PROPERTY IN BULGARIA VERIFICATION OR DUE DILIGENCE OF PROPERTY IN CYPRUS VERIFICATION OR DUE DILIGENCE OF PROPERTY IN ITALY VERIFICATION OR DUE DILIGENCE OF PROPERTY IN THE UK VERIFICATION OR DUE DILIGENCE OF REAL ESTATE IN GERMANY VERIFICATION OR DUE DILIGENCE OF REAL ESTATE IN HUNGARY VERIFICATION OR DUE DILIGENCE OF REAL ESTATE IN POLAND VERIFICATION OR DUE DILIGENCE OF REAL ESTATE IN ROMUNIA VERIFICATION OR DUE DILIGENCE OF REAL ESTATE IN SLOVAKIA VERIFICATION OR DUE DILIGENCE OF REAL ESTATE IN SWITZERLAND VERIFICATION OR DUE DILIGENCE OF REAL ESTATE IN THE CZECH REPUBLIC VERIFICATION OR DUE DILIGENCE OF REAL ESTATE IN THE UAE Virtual address for business in Luxembourg Virtual office in Belgium Virtual office in Croatia Virtual office in Finland Virtual office in France Virtual office in Latvia Virtual office in Malta Virtual office in Slovenia Virtual office in the Netherlands WORK PERMIT IN AUSTRIA WORK PERMIT IN CYPRUS WORK PERMIT IN DENMARK Work permit in Germany Work permit in Italy WORK PERMIT IN PORTUGAL Work permit in Romunia Work permit in Slovakia WORK PERMIT IN SPAIN WORK PERMIT IN SWITZERLAND WORK PERMIT IN THE CZECH REPUBLIC WORK PERMIT IN THE UAE Work Permit in the USA (EAD) WORK PERMIT IN UK