Open a cryptocurrency company in Ireland: what the Central Bank now requires
Yes, you can set up a crypto business in Ireland, and many firms have. But the rules have changed. Since the EU’s MiCA regulation began to apply to service providers on 30 December 2024, these firms are authorised by the Central Bank of Ireland, and the old VASP registration stopped being enough after 30 December 2025. Here’s how it works today: the steps, the capital, the people you need and the tax.
See where your activity falls
What does your crypto activity need?
Under MiCA, providing crypto-asset services to clients from Ireland means getting authorised by the Central Bank. Pick the activity closest to yours and you’ll see where it lands.
This is a first read only. Whether an activity is in scope depends on the detail, so take advice before you launch.
Five numbers behind the regime
The ten crypto-asset services MiCA covers
If you provide any of these to clients as a business, you need authorisation. These are the services listed in Article 3 of MiCA.
How much money you need to hold
MiCA sets minimum own funds in three classes. Your class is decided by the most demanding service you plan to offer.
€50,000
Order execution, placing, order reception and transmission, transfer services, advice and portfolio management.
€125,000
Everything in Class 1, plus custody and administration, and exchange of crypto-assets for funds or for other crypto-assets.
€150,000
Everything in Class 2, plus operating a trading platform for crypto-assets.
From a blank page to an authorised company
How the Central Bank assesses your application
The Central Bank follows the timelines in Article 63 of MiCA once a formal application is in.
Who has to run the company
The Central Bank won’t authorise a shell. It wants a real, locally led business.
- Crypto-competent people in Ireland who understand the local regulatory environment
- Full oversight of every activity and risk, with independent decision-making
- Key role holders go through the Central Bank’s fitness and probity process
- You can outsource, but the Irish board stays responsible
- Outsourcing risk must be managed locally
- You must be able to explain your model, daily operations and risk profile at any time
- At least one EEA-resident director, or a €25,000 bond (section 137)
- A company secretary, and directors aged 18 or over
- A bond satisfies company law. It doesn’t replace the Central Bank’s substance test. See director bonds
The old VASP registration and the new CASP authorisation
| VASP registration (old) | CASP authorisation (now) | |
|---|---|---|
| Source | Irish anti-money-laundering law (Criminal Justice Act 2010) | MiCA, with the Central Bank as Irish regulator |
| Scope | Anti-money-laundering only | Governance, capital, conduct and anti-money-laundering |
| Where you can operate | Ireland only, no passporting | The wider EU, after notifying the Central Bank (Article 65) |
| Status | Transition ended 30 December 2025 | Required to provide crypto-asset services |
| Shortcut for VASPs | Not applicable | None. Every application is a new authorisation |
Not every crypto activity needs a CASP licence
Banks, e-money institutions, MiFID investment firms and certain UCITS managers and AIFMs can notify the Central Bank instead of seeking authorisation. MiCA sets a 40 working day notice, and you should speak to your supervisor first.
Notification routeAsset-referenced and e-money tokens have their own rules, in force since 30 June 2024. Contact the Central Bank’s authorisation team early. E-money tokens can only be issued by banks and e-money institutions.
Title III and IVYou publish a white paper and notify it. The Central Bank reviews the notification within 5 days, then passes it to ESMA and the host regulators.
Title II notificationMiCA regulates services to clients. Holding or mining for your own account isn’t one, but Revenue’s tax rules still apply.
Tax onlySetting up the Irish company behind it
Authorisation is granted to a company, so the company comes first. Here’s where our guides and services fit in.
Choose the company
Directors from abroad
Address and bank
Filings and records
Tax and accounts
What the Central Bank will want to see
The application covers these areas, set out in Article 62 of MiCA and the Central Bank’s application form.
What you’ll have to keep doing
How crypto activity is taxed
Irish company
Revenue says there’s no special crypto tax. A company is taxed on its profits under normal corporation tax rules.
- 12.5% on trading profits
- 25% on non-trading income
- Whether you’re trading is a question of fact, whatever you call it
- Gains outside a trade are chargeable gains
- Accounts go in euro or functional currency, not crypto
- Corporation tax return filed through ROS
Individual investor
Selling, swapping or spending crypto is generally a disposal, and gains are charged to capital gains tax.
- 31% on disposals from 7 October 2026, and 33% before that date
- The first €1,270 of gains each year is exempt
- Each asset is worked out separately, and losses carry forward
- Pay by 15 December for gains up to 30 November, and 31 January for December
- Return due by 31 October the following year
VAT
Revenue’s manual follows the EU court’s Hedqvist ruling on Bitcoin.
- Exchanging crypto for traditional currency is VAT-exempt where the company acts as principal
- Goods and services sold for crypto carry VAT as normal, on the euro value at the time
- Mining income is generally outside the scope of VAT
- Check platform and software fees separately
Information to Revenue
Crypto reporting rules now apply to service providers, and individuals still carry their own duties.
- EU rules known as DAC8 (CARF) apply from 1 January 2026
- Providers collect user and transaction data now, with the first return due 31 May 2027
- Individuals still declare their own gains
- Keep wallet and transaction records for six years, and share them with Revenue on request
Four crypto company myths
Questions about opening a cryptocurrency company
Can I open a crypto company in Ireland?
Yes. You set up an Irish company and, if you provide crypto-asset services to clients, apply to the Central Bank of Ireland for authorisation as a crypto-asset service provider under MiCA.
What is MiCA?
The EU Markets in Crypto-Assets Regulation (Regulation (EU) 2023/1114). It sets one set of rules across the EU for crypto-asset issuers and for the firms that provide services in crypto-assets. It has applied to stablecoin issuers since 30 June 2024 and to service providers since 30 December 2024.
What is a CASP?
A crypto-asset service provider: a firm authorised to provide services such as custody, running a trading platform, exchange, execution, advice or portfolio management.
What happened to VASP registration?
The old VASP regime was an anti-money-laundering registration with the Central Bank. Existing VASPs had a transition period that ended on 30 December 2025, so providers now need CASP authorisation.
Does a VASP registration make CASP authorisation easier?
No. The Central Bank treats every CASP application as a new authorisation and assesses it fully under MiCA. There is no simplified procedure for existing VASPs.
How long does CASP authorisation take?
Once your application is formally in, MiCA gives the Central Bank 5 working days to acknowledge it, 25 working days to check it is complete and then 40 working days to decide. Before that comes a pre-application stage. The Central Bank says total time depends on your size, complexity and how well prepared you are.
How much capital do I need?
MiCA sets minimum own funds by service class: €50,000 for Class 1, €125,000 for Class 2 and €150,000 for Class 3 (trading platforms). The requirement is the higher of that figure and a quarter of the previous year’s fixed overheads.
Do I need directors who live in Ireland?
Every Irish company needs at least one EEA-resident director, or a €25,000 bond (section 137 Companies Act 2014). For an authorised CASP the Central Bank goes further: it expects a local, crypto-competent board and executive that genuinely run the firm, so a nominee arrangement is a poor fit. See also our pages on non-EEA directors and director bonds.
How is crypto taxed in a company?
There is no special crypto tax. Trading profits are taxed at 12.5% and non-trading income at 25%. Gains outside a trade are chargeable gains. Whether you are trading depends on the facts.
How are individuals taxed on crypto gains?
Disposals are subject to capital gains tax: 31% for disposals on or after 7 October 2026 and 33% before that. The first €1,270 of an individual’s gains each year is exempt.
Can you help with incorporation and tax?
Yes. We incorporate the company, set up the tax registrations and the books. Authorisation itself needs specialist regulatory advisers, and we can work alongside them.
Government and EU sources behind this page
Facts here were checked against these official sources on 6 November 2026.
Related guides
Company bank account in Ireland
What banks ask for, and how to get an account open.
NON-RESIDENTSStarting a company as a non-resident
What you need and what you don’t, wherever you live.
OWNERSHIPRegister of Beneficial Ownership
Who must be filed, and what the register shows.
IDENTIFIERLegal entity identifier
The LEI your crypto application asks for, and how to get one.
Planning a crypto business in Ireland?
Tell us what services you plan to offer. We’ll set up the company and tell you which regulatory advice you’ll also need.
- The services you plan to provide
- Who the directors are
- Where the clients are
- Whether you hold client assets
Last checked 6 November 2026. General information only, not legal or tax advice. Rules and rates change, so confirm before you act.
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