Panama vs Lithuania for a Crypto License: Which Should You Choose in 2026?
The single most common question we get: should I license in Panama or Lithuania? The honest answer depends entirely on who your customers are. Here is the decision framework we use with clients. CRYPTO LICENSE GUIDE · 2026 Crypto License Comparison Crypto licensing across 15+ jurisdictions CONSULTING24.CO The Headline Trade-off Lithuania gives you an EU MiCA passport, the ability to serve EU retail customers under a recognised European regulator. That credibility costs money and time: roughly $50,000-$120,000 to set up and 4-8 months to authorise. Panama gives you speed, low cost and territorial-tax efficiency, but no EU passport. Setup is $15,000-$45,000 and 6-12 weeks. It is built for offshore-first operations that do not need to touch EU retail. The 4 stages of getting licensed 1 Choose jurisdiction match your customers 2 Incorporate set up the entity 3 AML / KYC program the banking key 4 Open banking fiat on/off-ramps Choose Lithuania If... You are launching a public-fa...