Ready-made company with a crypto license in Estonia: what you can actually buy in 2026

Published: October 2026 · Last updated: 1 October 2026

A ready-made company with a crypto license in Estonia no longer means a shelf company holding an FIU license. Estonia’s MiCA transition ended on 1 July 2026, so a crypto license in Estonia is now a CASP authorisation from Finantsinspektsioon. You can buy a clean Estonian company and apply, or acquire an authorised provider after the regulator assesses you.

What does a ready-made company with a crypto license in Estonia mean in 2026?

Until this summer, the phrase described a real product: an Estonian company with a virtual currency service license from the Financial Intelligence Unit (FIU), sold together with its shares. That product is gone.

MiCA let providers licensed under national law keep working until 1 July 2026 at the latest (Article 143(3)), and Estonia used the full 18 months (ESMA list of transitional periods). Under Estonia’s anti-money laundering act, the old FIU licenses became invalid on that date at the latest (§ 118⁴(3)), and the FIU announced that it would cancel its register data. A provider without a MiCA authorisation had to stop its crypto services, tell its clients and return their assets. One whose application was still pending on 1 July 2026 may not sign new client contracts until Finantsinspektsioon decides (Crypto-asset Market Act § 48).

One thing exists today: authorisation as a crypto-asset service provider (CASP) under Regulation (EU) 2023/1114, granted by Finantsinspektsioon. Our page on the crypto license in Estonia covers the application; this article covers the purchase.

What can you actually buy?

Four different things go under this label.

How many Estonian firms can provide crypto-asset services under MiCA? Very few. In the file published on 30 September 2026, the ESMA interim MiCA register lists three entries with Estonia as home state out of 364: Lightspark Payments Europe AS, AS LHV Pank and Lightyear Europe AS. Lightspark holds a MiCA authorisation granted by the Estonian authority, as the French AMF’s CASP allowlist confirms. LHV is a bank, and Lightyear is an investment firm.

Finantsinspektsioon’s 2025 yearbook shows why the list is short. The authority received five applications for crypto-asset service licenses that year, and none of the six licenses it issued was a crypto license.

So an offer of a “licensed Estonian crypto company” deserves one question before any other: which authorisation, and where is it in the ESMA register?

On our ready-made companies page, the Estonian lots as of October 2026 are clean companies without a financial license: a dormant IT company established in 2025 with active bank accounts, and VAT-registered companies incorporated between 2014 and 2022, three of them listing EUR 2,500 of share capital. The crypto-licensed lots on that page sit outside the EU. They include Canadian MSB registrations, Swiss SRO members and an El Salvador Bitcoin Service Provider.

Can you buy a company that already holds a CASP authorisation?

Yes, but the regulator decides whether you may own it. MiCA authorises the legal entity, so a share deal leaves the authorisation in place. The owner changes, and the regulator assesses the new owner.

Under Article 83, anyone who decides to acquire a qualifying holding in a CASP must notify the CASP’s competent authority in writing. A qualifying holding starts at 10% of the capital or voting rights, or at any stake that gives significant influence over management. Crossing 20%, 30%, or 50% triggers the same duty, and the seller files its own notice.

The statutory clock runs like this:

1. The authority acknowledges the notification in writing within two working days.
2. The regulator has up to 60 working days to assess the acquirer once the notification is complete, counted from that acknowledgement.
3. A request for more information can suspend the period for up to 20 working days. The suspension can be extended by up to 30 working days when the buyer is located or regulated outside the EU.
4. If the authority does not oppose the acquisition within the period, it is deemed approved.

Article 84 lists what is assessed: the buyer’s reputation; the reputation, knowledge, skills and experience of whoever will direct the business; the buyer’s financial soundness; the CASP’s ability to keep complying; and any reasonable suspicion of money laundering or terrorist financing. The content of the file is set by Commission Delegated Regulation (EU) 2025/414. Every buyer explains in detail where the purchase money comes from. A buyer taking more than 50% also submits a three-year business plan.

Two more rules matter. New members of the management body must notify the regulator before they start work (Article 69). And an authorisation cannot wait on a shelf. Under Article 64, the regulator withdraws it if it is not used within 12 months of being granted, or if the provider provides no crypto-asset services for nine consecutive months. A dormant licensed company is a short-lived asset.

What should you check before buying?

Our guide to buying a shelf company in Europe covers corporate checks such as debts, tax, litigation, and ownership history. A crypto business adds four regulatory checks.

• License status. Find the company in the ESMA register by name and LEI. Read the listed services, the passport countries and the end date. Withdrawn authorisations stay in the file.
• Fit and proper. Shareholders with qualifying holdings and all members of the management body must be of sufficiently good repute. Managers also need the knowledge, skills, experience and time for the role (Article 68). In 2025, Finantsinspektsioon ran 279 suitability assessments across the financial sector. Of those, 202 ended positively, and 77 were withdrawn before a decision.
• Capital. The permanent minimum is EUR 50,000, 125,000 or 150,000 depending on the services, or one quarter of the previous year’s fixed overheads if that is higher (Article 67 and Annex IV). A ready-made company with EUR 2,500 of share capital is far below that level. The regulator also checks the source of the capital.
• Substance. A CASP needs its registered office in a member state where it provides at least part of its services, its place of effective management in the EU, and at least one director resident in the EU (Article 59(2)). A company run entirely from outside the EU does not pass that test.

How long does it take, and what is included?

These are statutory clocks. The 40-working-day assessment starts only when the application is complete, and preparing the file takes longer than the review. Our Estonia page describes the realistic end-to-end timeline.

On the purchase side, our ready-made company service has six steps: a consultation on your requirements, a shortlist of companies, KYC and KYB checks, the transfer of ownership with changes to shareholders and directors, the handover of corporate documents, and support with bank account onboarding and licensing preparation. For an Estonian crypto project, that last step is the CASP file.

FAQ

Can I still buy an Estonian company with an old FIU crypto license?

You can buy the company, but the license is no longer part of the deal. Under Estonian law, the old FIU licenses became invalid on 1 July 2026 at the latest. Without a MiCA authorisation, the company may not provide crypto-asset services in the EU, so for a crypto project it is simply applying for a new authorisation.

Is a CASP authorisation transferred together with the shares?

The authorisation belongs to the legal entity, so it stays in place when the shares change hands. The buyer must notify Finantsinspektsioon of the acquisition, and the authority can oppose it on the grounds listed in MiCA Article 84. Without that assessment, a buyer should not expect to control an authorised Estonian CASP.

How long does the regulator take to assess a CASP buyer?

The regulator has up to 60 working days to assess the acquirer once the notification is complete (MiCA Article 83). A request for more information can suspend the period for up to 20 working days, or longer for buyers located or regulated outside the EU. If there is no objection in time, the acquisition is deemed approved.

Does a crypto license from outside the EU work in Estonia?

No. Crypto-asset services in the EU may be provided only by an authorised CASP or by a financial entity covered by Article 60 of MiCA. A non-EU firm may serve an EU client only at the client’s own exclusive initiative, and any solicitation or advertising in the EU removes that exception.

Do I need an Estonian CASP to serve clients in Estonia?

Not necessarily. A CASP authorised in any EU member state can provide services across the Union. It notifies its home authority and can start in another member state no later than the 15th calendar day after submitting the information (Article 65). Estonia is a choice of home regulator, not a requirement to reach Estonian clients.

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Disclaimer: The information provided in this article is intended for general informational purposes only and should not be considered as individual legal advice. For legal assistance tailored to specific circumstances, it is recommended to seek professional legal counsel.