Choose your financial licence
and bank, based on what regulators publish.

Jurisdiction	Regulator	Main licences	Minimum capital (examples)	Local substance	Typical timeline	Corporate banking
Lithuania	Bank of Lithuania	Payments / EMICrypto EMI, PI, MiCA CASP	EMI €350k / PI €20k–125k / CASP €50k–150k	Head office, local manager, AML staff	EMI/PI: decision within 3 months	Licensed EMIs/PIs can join the central bank's CENTROlink for direct SEPA access (selective)
Malta	MFSA	FX / brokeragePayments / EMICrypto Investment services (MiFID), EMI/PI, MiCA CASP	Investment firm from €75k / EMI €350k / CASP €50k–150k	Compliance officer and senior MLRO	Investment firm: 6 months / CASP: 25 + 40 working days	Local banks are cautious and often expect local directors or substance
Cyprus	CySEC / CBC	FX / brokeragePayments / EMICrypto Investment firm (CIF: FX/CFDs), MiCA CASP, EMI/PI	CIF €75k–€750k (own account) / EMI €350k	Head office; at least two managers (four eyes)	CIF: 6 months / EMI: pre-application stage from Aug 2026	Local banks; foreign-owned companies often use EMI accounts
Estonia	Finantsinspektsioon	Payments / EMICrypto MiCA CASP, EMI/PI	CASP €50k–150k / EMI €350k	At least one EU-resident director; filing in Estonian	CASP: regulator says 6 months to a year	Local banks expect in-person ID and a real Estonian link
Dubai (VARA)	VARA	Crypto VASP licence (exchange, broker-dealer, custody, advisory, etc.)	Exchange AED 1.5m (AED 800k if custody outsourced) / broker-dealer, custody AED 600k / advisory AED 100k	Two responsible individuals and the compliance officer resident in the UAE	Approval to incorporate, then full licence	Capital must be evidenced during the process, so a UAE bank account comes first
DIFC (DFSA)	DFSA	FX / brokeragePayments / EMICrypto Categories 1–4 (bank, principal, agency, asset management, money services, advisory)	Advisory/arranging US$30k–140k / agency dealing, money services US$200k / principal US$2m	SEO, compliance officer and MLRO normally UAE-resident	Enquire, apply, evaluate, fulfil, approve	UAE banks; at least one UAE-resident signatory is commonly required
Abu Dhabi (ADGM)	FSRA	FX / brokeragePayments / EMICrypto Financial Services Permission: crypto MTF, custody, securities, payments	Crypto MTF: 6 months' expenses plus up to 6 more / custody: at least US$250k	UAE-resident SEO, CO, MLRO; mind and management in ADGM	Pre-application, in-principle approval, then permission	Capital injection is an IPA condition, so a UAE account comes first
UAE onshore (Central Bank)	CBUAE	Payments / EMI Retail payment services (Cat. I–IV), stored value, payment tokens, exchange houses	Payments AED 100k–3m / stored value AED 15m plus bank guarantee	Onshore UAE company (outside financial free zones)	In-principle approval, capital and guarantee, final licence	Corporate accounts generally need a UAE-resident signatory
Hong Kong	SFC / HKMA / C&ED	FX / brokeragePayments / EMICrypto SFC Types 1, 3, 4, 9; VATP; MSO	Type 4/9 (no client assets) liquid HK$100k / Type 1 paid-up HK$5m / Type 3 paid-up HK$30m / VATP paid-up HK$5m	At least 2 responsible officers, one an executive director	SFC pledge: 15 weeks for a complete application	The HKMA tells banks not to refuse accounts merely because a company is offshore or its directors are non-resident
Singapore	MAS	FX / brokeragePayments / EMICrypto Payments (SPI, MPI), CMS (securities, leveraged FX, fund management)	SPI S$100k / MPI S$250k plus deposit / fund management from S$250k / leveraged FX S$1m–5m	Resident director; CMS requires a Singapore-resident CEO	Payments: MAS states a wait of over a year / CMS: up to 6 months	DBS opens accounts for payment businesses only once MAS-licensed
Seychelles	FSA Seychelles	FX / brokerageCrypto Securities dealer (FX/CFDs), VASP	Securities dealer US$100k paid-up (doubled in 2024) / VASP exchange US$100k	2+ directors incl. one full-time resident; local office	FSA standard: 30 working days from a complete application	Capital must be held with a Seychelles bank or a bank in an FSA-recognised jurisdiction
Mauritius	FSC Mauritius	FX / brokeragePayments / EMICrypto Investment dealer, payment intermediary, VASP (with a Global Business Licence)	Dealer MUR 1m (no underwriting) / broker MUR 700k / VASP broker-dealer MUR 2m	Two resident directors, management company, main bank account in Mauritius	No official processing time	Keeping the main account in Mauritius is part of the managed-and-controlled test
Labuan (Malaysia)	Labuan FSA	FX / brokerageCrypto Money broking (conventional / digital assets), securities licence	Money broking RM1m (RM1.5m with digital assets)	2 full-time staff and RM100k annual spending in Labuan (tax condition)	Official: 30 working days (15 fast track) from complete documents	Labuan or Malaysian banks, or banks abroad
Vanuatu	VFSC	FX / brokerageCrypto Financial dealer (FX/CFDs), VASP	Dealer: VT 5m statutory deposit / VASP: from VT 200m paid-up	Dedicated office and at least one resident employee	No official processing time	Licensees often rely on foreign banks, EMIs or PSPs
British Virgin Islands	BVI FSC	FX / brokerageCrypto Investment business (SIBA), VASP registration	Set in the Regulatory Code (varies by activity)	2+ directors and an approved local representative	No official processing time	Grey-listing triggers enhanced due diligence at banks and EMIs
Cayman Islands	CIMA	FX / brokerageCrypto Securities investment business (SIBA), VASP registration/licence	No fixed minimum (assessed case by case)	2+ directors; senior officer changes need prior approval	Only complete applications reviewed; decision notified about 7 days after	Often banked with international banks in the US, Europe or Asia
St Vincent and the Grenadines	FSA SVG	Crypto No FX/brokerage licence / crypto registration	Crypto registration: EC$300k	Resident principal representative	Crypto: about 90 days with complete documents	—
Canada	FINTRAC	Payments / EMICrypto MSB registration (remittance, FX, crypto); payment service provider registration (RPAA)	MSB: no capital requirement, no registration fee	Foreign MSBs appoint a Canada-resident agent for service	MSB: usually 3 months; renew every 2 years	Government papers acknowledge MSBs struggle to keep bank accounts
United States	FinCEN / 州	Payments / EMICrypto FinCEN MSB registration plus state money transmitter licences; NY BitLicense	By state (model law: net worth of US$100k or 3% of assets; surety bond US$100k–500k)	AML programme and designated compliance officer	FinCEN: register within 180 days, renew every 2 years / states: 120 days under the model law	Treasury identifies small MSBs as most affected by bank de-risking

Capital and fees are taken from each regulator's rules and publications (October 2026), in local currency. Actual requirements depend on the business plan and activities and are confirmed case by case before applying.

Choosing only on ease often backfires later: no bank account, or counterparties that will not onboard you. Shortlist by business type, client countries, budget and the staff you can place locally.

In most jurisdictions acquiring control of a licensee requires prior regulatory approval (e.g. 60 working days under MiCA; DFSA decides within 90 days). It can be faster than a new application, but due diligence on the target's history and AML is essential. Some licences lost their value after rule changes, such as Estonia's legacy crypto licences.

As a rule, no. Dealing with Japanese residents in FX, securities or crypto requires Japanese registration. Since August 2026 the penalty is up to 10 years' imprisonment and a JPY 10m fine (JPY 700m for companies).

Regulator application and annual fees, local registered office, directors, compliance officer and MLRO, audit and legal fees. Dubai VARA, for example, publishes an AED 100k application fee and AED 200k annual fee per activity.

No. Banks apply their own risk appetite, and crypto and money services face particular caution. Document your AML controls and flows of funds and start banking in parallel with the application.

Yes, the first 30-minute online consultation is free, and we can sign an NDA beforehand.