Provider of Services Related to Virtual Assets

Who Needs This License?

All entities providing services related to virtual assets need either a CNB license under MiCA or a Financial Analytical Office (FAÚ) license for providing virtual asset services.

The FAÚ license for providing virtual asset services serves as a residual category for all services related to crypto-assets that are not covered by MiCA.

Typically, this includes activities such as staking, lending, or services related to nonfungible tokens (NFTs).

Our References

Our clients in the field of cryptocurrencies include Tipsport, wBTCb, and MyCoiner.

Why Choose Our Law Firm?

• We have handled dozens of CNB or FAÚ licenses or registrations in the financial services sector.
• We work on CNB and FAÚ licenses daily.
• We are in close contact with CNB and FAÚ staff and are familiar with the licensing process, including unwritten rules and practices.
• We efficiently guide clients through the entire licensing process with the CNB or FAÚ.
• Subsequently, we provide comprehensive services in Compliance, AML, Risk Management (especially operational risks), internal audit, CNB reporting, and accounting.

How Does the Licensing Process Work?

• We will assign you a project manager who will guide you through the entire licensing process with the CNB or FAÚ.
• We will prepare a complete license application and all required appendices.
• This includes developing a business plan with financial projections, calculating capital adequacy, and preparing a complete set of internal policies, including anti-money laundering (AML/CFT) measures.
• We will ensure outsourcing of compliance, risk management, and internal audit.

How Long Does It Take to Obtain the License?

• Preparing the complete license application takes 1 to 2 months.
• The licensing process with the FAÚ usually takes 1 to 2 months.

What Do We Need from You?

• Materials for preparing the business plan – information about planned services, target audience, and basic financial indicators of the project.
• Information about key personnel and individuals with qualifying holdings, up to the ultimate beneficial owner.
• Documentation of the origin of collateral amounting to CZK 250,000.

What Is the Cost of Obtaining the License?

The price depends on the complexity and planned scope of the license. After an initial consultation, we will prepare a tailored written offer for you.

References

Key contacts

Zuzana Stuchlíková

Maxim Obuchov

Zuzana Neubauerová