Malta vs Panama for a Crypto License: Which Should You Choose?
Should you license in Malta 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 Malta vs Panama crypto license Crypto licensing across 15+ jurisdictions CONSULTING24.CO The Core Trade-off Malta works through MiCA CASP authorisation (formerly the VFA Act) (the MFSA), costs about $40,000–$90,000, 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: Malta 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 Malta Wins Pick Malta if your priority is EU-facing operators who want an established crypto-friendly regulator. An early mover...