INCORPORATE A CZECH COMPANY
The very first step is to form a Limited Liability Company in the Czech Republic. For this, you will need to:

Gather identity documents of all involved parties
Provide certificates of non-criminal records
Prepare a CV and a detailed description of the planned activities
Fulfil the economic substance requirements (legal address)
Once the company is formed, you will be able to move on to the licensing application process for the MiCA license in Czech Republic.

SUBMIT A CASP LICENSING APPLICATION
Prior to submitting the application, you must thoroughly prepare the required package of documents. Apart from the paperwork, there are additional requirements, such as:

Appointinment of the key personnel
Documenting every person and system involved
Drafting a programme of operations
You can find a more detailed description of all the requirements involved in our separate MiCA Compliance Guide in the EU. Our lawyers are always on standby to provide you with a personalised consultation and assistance on CASP licensing in Czechia.

WAIT FOR THE ASSESSMENT FROM THE CNB
According to the rules set out in MiCA’s framework, the National Competent Authority (NCA) in the country, which is the CNB, will have 5 days to notify you that your licensing application has been accepted. After that, 25 more days will be required for the CNB to confirm that the application is complete and doesn’t need any amendments. From this point onward, expect to wait for 40 more days for the full validation of your application.

OPEN A BANK ACCOUNT FOR YOUR CASP IN CZECHIA
Once you have been registered as CASP in the Czech Republic, it is no less important to open a bank account. Now that MiCA is in full force, crypto businesses have a better chance of securing corporate bank accounts without obstacles.

If you need assistance in opening a bank account in the Czech Republic, refer to our legal team. We will undertake the process in full and negotiate with the banking institution of your choice on your behalf.