Lithuania vs Panama for a Crypto License: Which Should You Choose?
Should you license in Lithuania or Panama? The right answer depends entirely on who your customers are. Here is the decision framework we use with clients. CRYPTO LICENSE GUIDE · 2026 Lithuania vs Panama crypto license Crypto licensing across 15+ jurisdictions CONSULTING24.CO The Core Trade-off Lithuania works through EU MiCA CASP authorisation (transitioned from the old VASP register) (the Bank of Lithuania), costs about $50,000–$120,000, and takes 4–8 months. Panama uses a Sociedad Anónima with no dedicated VASP regime, costs $15,000–$45,000, and takes 6–12 weeks. In short: Lithuania typically buys you regulatory standing in the European Union; Panama buys you speed, low cost and 0% tax on foreign-source income. 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 When Lithuania Wins Pick Lithuania if your priority is exchanges and wallets tha...