Cyprus is the only jurisdiction in the European Union whose entire CASP fee schedule is fixed by an official instrument — CySEC Directive DI 73-2009-04 — with a separate row for each crypto-asset service. That is why this page is built as a price-per-service-stack page: first decide which of the ten MiCA services you will provide, then the application charge and the annual fee add up line by line, to the euro.
Every figure below comes from that official directive; none is taken from intermediary material. Where nothing official exists — for example the current count of authorised CASPs, which CySEC renders in a dynamic table — the page says "confirm with the regulator" instead of printing a number.
The EU Frame: MiCA and the Route for a Georgian-Owned Group
Under MiCA ((EU) 2023/1114), Article 59(2) requires a CASP to have its registered office in a Member State where it carries out at least part of its services, its place of effective management in the Union, and at least one director resident in the Union. For a Georgian-owned group this means incorporating a Cypriot (or other EU) subsidiary with local substance — a Georgian company cannot file the application directly. A third-country firm may serve Union clients only at the client's own exclusive initiative (Article 61(1), reverse solicitation).
The statutory clock is protected by law: a completeness check within 25 working days, a decision within 40 working days of a complete application, and a possible suspension of up to 20 additional working days for missing documents (Article 63). Own funds follow Article 67 — the higher of the Annex IV class minimum or one quarter of the preceding year's fixed overheads; confirm the exact amount for your class in Annex IV or with CySEC.
Application Charge: Ten Services, Ten Rows
The directive sets the application charge per service — so applying for both exchange services means both rows are added, and so on. The official rows:
- custody and administration of crypto-assets — €10 000;
- operating a trading platform for crypto-assets — €30 000;
- exchange of crypto-assets for funds — €5 000;
- exchange of crypto-assets for other crypto-assets — €5 000;
- execution of client orders — €8 000;
- placing of crypto-assets — €8 000;
- reception and transmission of client orders — €8 000;
- provision of advice on crypto-assets — €8 000;
- portfolio management on behalf of clients — €8 000;
- transfer of crypto-assets on behalf of clients — €5 000.
Two details matter as much as the amounts: if the charge is unpaid, the application is "considered as not submitted" — the clock never starts; and financial entities proceeding under Article 60 pay a separate notification charge of €10 000.
The Annual Fee: Fixed Component plus Turnover Surcharge
After authorisation, a fixed component is due each year for every service on the licence: custody €10 000, trading platform €20 000, both exchange services €5 000 each, order execution, placing and reception/transmission €5 000 each, advice and portfolio management €8 000 each, transfer services €5 000. On top of that runs a turnover surcharge once crypto-service turnover exceeds €500 000:
- from €500 000 to €1 000 000 — 1% of turnover;
- from €1 000 000 to €5 000 000 — 0.4%;
- from €5 000 000 to €10 000 000 — 0.3%;
- above €10 000 000 — 0.1%.
The total annual fee is capped at €500 000 and is payable within 4 months of the financial year-end (2 months where operations cease); it is charged pro-rata for a part-year, and the audited statements must show crypto turnover separately.
Example Stacks, Change Charges and the Regulator's Story
Using the directive's own rows, two typical stacks compute cleanly: an exchange-only entry — €5 000 application plus €5 000 annual; custody plus exchange — €15 000 application plus €15 000 annual plus the turnover surcharge. Down the road: a change in the management body (Article 69) costs €2 000 per change, and a proposed acquisition of a CASP (Article 83) €8 000 per proposed acquisition.
Context matters too. CySEC ran its crypto-providers register from 2021, stopped accepting new register applications on 17 October 2024 pending the MiCA pack, and required previously registered CASPs to file their Article 62 application by a CySEC-set deadline of 27 February 2026 (confirm the circular number with the regulator). The Article 143(3) grandfathering window closed on 1 July 2026, so every new entrant now files a fresh Article 62 application. The current number of authorised CASPs is published in CySEC's live table — check cysec.gov.cy before filing.
The Georgian Layer: What Applies at Home Despite the Cypriot Authorisation
A Cypriot CASP status is an instrument for the European market; it changes nothing in Georgian law. The organic law on the National Bank of Georgia (No 101044) obliges a VASP to register with the National Bank under Article 52-5(2), prohibits unregistered provision under Article 52-5(3), and confines the provider to the virtual asset service and auxiliary activity under Article 52-5(4). Article 39-1: a virtual asset is not legal tender and payments in virtual assets are prohibited. Article 48 places VASPs under National Bank supervision.
The AML law (No 4690334) completes the picture: Article 3(1) makes VASPs accountable persons; Article 4 assigns AML supervision to the National Bank; Article 11(1) sets the crypto KYC trigger at USD 1 000 / EUR 1 000 / GEL 3 000; Article 17¹ is the Travel Rule, with the accompanying-information content defined by a National Bank act (Article 52-5(1) of the organic law). A Cypriot authorisation cancels none of this — it builds the European ring; the Georgian ring must be built separately.
Frequently Asked Questions
How much does Cypriot CASP authorisation cost?
It is a function of your service stack: an exchange service application is €5 000, custody €10 000, a trading platform €30 000 — and the rows add up. The annual fee follows the same logic, plus the turnover surcharge above €500 000, capped at €500 000.
Can the application be filed without paying the charge?
No. The directive states that an unpaid charge makes the application "considered as not submitted" — the statutory clock does not even start. The budget must be planned before filing.
We were on the old CySEC register — what deadlines applied?
Register applications stopped being accepted on 17 October 2024; those registered since 2021 had to file the Article 62 pack by the CySEC-set deadline of 27 February 2026, and the Article 143(3) window closed definitively on 1 July 2026. Everyone now enters through a full Article 62 application.
Does Cypriot authorisation change Georgian requirements?
No. Georgia-facing services still require National Bank registration under Article 52-5(2), and the USD 1 000 / EUR 1 000 / GEL 3 000 KYC trigger and the Travel Rule remain part of the Georgian AML layer. The two rings do not substitute for each other.
How We Help on Legal.ge
Legal.ge starts the Cypriot route from your service stack: we fix which of the ten services you need, compute the exact directive rows for the application and the annual budget, set up the Cypriot company with the Article 59(2) substance requirements, and build the Georgian ring in parallel — National Bank registration and AML compliance. Every figure we hand you comes from the directive; every Georgian requirement comes from a named article. Contact us to start the Cypriot route from your own service list.