EU/EEA PassportingMiCA CASP authorisation

MiCA Crypto Licence in France

France is a very-high-reputation MiCA home member state for CASPs that need EU/EEA passporting, AMF-facing credibility and a serious regulated operating model. It is not a low-budget or fast offshore route.

Processing time
From 6 months
Service price
23 400 EUR
Required share capital
From 50 000 EUR
State fee
10 000 EUR
Annual supervision fee
From 5 000 EUR
Banking difficulty
Medium to high
RegulatorAutorité des Marchés Financiers (AMF)

Regulatory status should be confirmed by local counsel before relying on this route.

What is MiCA CASP authorisation in France?

France MiCA CASP authorisation is an EU crypto-asset service provider route supervised by the Autorité des marchés financiers (AMF). It is built for regulated CASP operations that can support governance, compliance, local substance and ongoing supervision.

MICA
Jurisdiction
France
Regulator
Autorité des Marchés Financiers (AMF)
Regime
MICA
Legal basis
The route is positioned for CASP services under MiCA, not as an offshore registration shortcut.

Country-specific regulatory statements should be checked against current regulator guidance before relying on this route.

EU/EEA passporting from France

France can support EU/EEA passporting for authorised CASP services, but passporting should be framed around the approved service scope. A France authorisation does not automatically cover every crypto, DeFi, staking, payment or securities-adjacent activity.

  • Exchange

    Included

    Exchange operations fit within the permitted activities of this route.

  • Custody

    Included

    Custody is within scope; review controls requirements.

  • Brokerage

    Included

    Brokerage or OTC activity typically fits within scope.

  • Wallet provider

    Included

    Exchange operations fit within the permitted activities of this route.

  • EU market

    Included

    EU/EEA passporting available.

  • Startups

    Excluded

    High setup complexity means significant budget is needed.

Fees, timelines and capital figures are indicative and may vary by business model, regulator feedback, application scope and third-party costs.

France as a MiCA home member state

France is strongest for teams that want a very-high-reputation EU base and can afford a medium-to-high setup burden. The route suits institution-facing exchanges, custody providers, brokerages and wallet businesses that need a credible AMF-facing file.

  • Regulatory track record

    Positive

    Very high

  • Banking access for crypto firms

    Negative

    Medium to high

  • Regulatory risk

    Caution

    Low to medium

Fees, timelines and capital figures are indicative and may vary by business model, regulator feedback, application scope and third-party costs.

France MiCA application bottlenecks

The main bottlenecks are usually evidence quality, not only document volume. France is likely to reward a well-scoped, well-funded application and expose weak governance, unclear controls or optimistic banking assumptions.

  • Unclear CASP service scope or overbroad passporting claims

    High

  • Weak custody, safeguarding, outsourcing or technology risk documentation

    High

  • Insufficient French substance for the stated operating model

    High

  • AML, complaints, conflicts and token admission policies that do not match real flows

    High

  • Late banking and PSP preparation for fiat-heavy or high-risk client segments

    High

Fees, timelines and capital figures are indicative and may vary by business model, regulator feedback, application scope and third-party costs.

Why choose France for MiCA authorisation?

France can be commercially attractive when the authorisation itself is part of the trust story. A French MiCA route may help with enterprise counterparties, institutional users and EU expansion, provided the substance and compliance file are credible.

Exchange
Suitable

Exchange operations fit within the permitted activities of this route.

Custody
Suitable

Custody is within scope; review controls requirements.

Brokerage
Suitable

Brokerage or OTC activity typically fits within scope.

Wallet provider
Suitable

Exchange operations fit within the permitted activities of this route.

EU market
Suitable

EU/EEA passporting available.

Startups
Not suitable

High setup complexity means significant budget is needed.

Not sure if your model fits? Request a licensing assessment

Is France MiCA authorisation right for your project?

Best for

  • Very high regulatory reputation compared with lower-friction EU routes.
  • Useful for CASPs that need a serious EU home state and cross-border growth plan.
  • Commercially weaker for projects where speed, minimal cost or non-EU markets are the main decision drivers.

Not suitable for

  • Low-budget or fast offshore setup
  • Projects without a prepared banking strategy

Banking difficulty is high for this route. Prepare a banking strategy before committing to the France route.

Core requirements

Use this section to check the main regulatory and operational requirements before committing to a jurisdiction.

Required share capitalFrom 50 000 EUR
Required
Local staffRequired
Required
Physical officeRequired
Required
AuditRequired
Required

Fees, timelines and capital figures are indicative and may vary by business model, regulator feedback, application scope and third-party costs.

Local substance in France

The CSV position is clear: local staff, physical office and audit are required. For France, substance should be designed around real decision-making, compliance ownership and supervision readiness.

Local staff

Required

Required

At least one locally-accountable staff member or director is expected.

Physical office

Required

Required

A genuine office presence is expected, not a nominal registered address.

Audit

Required

Required

External audit is required for ongoing supervision compliance.

Planning notes

  • Plan local management, compliance accountability and regulator-facing responsibility before submission.
  • Budget office, staff, audit, policy maintenance and reporting separately from the application service fee.
  • Avoid a nominal footprint that cannot explain where operational controls, outsourcing oversight and client safeguards actually sit.

Fees, timelines and capital figures are indicative and may vary by business model, regulator feedback, application scope and third-party costs.

Cost breakdown

Budget for service price, regulatory fees, share capital and ongoing costs separately.

Service price (professional fees)Application preparation and professional services.
23 400 EUR EURFixed
State fee
10 000 EURFrom
Annual supervision feeRecurring annual cost after authorisation.
From 5 000 EURFrom
Required share capitalMust be held, not an expenditure.
From 50 000 EURFrom
High ongoing cost

Fees, timelines and capital figures are indicative and may vary by business model, regulator feedback, application scope and third-party costs.

Cost breakdown — France

Budget for service price, regulatory fees, share capital and ongoing costs separately.

Cost itemAmount
Service priceApplication preparation and professional services.€23,400
State fee€10,000
Required share capitalMust be held, not an expenditure.€50,000

Summary

One-off costs
€83,400
Annual (year 1)
€0
Total year 1
€83,400

Adjust to convert to your base currency.

Fees, timelines and capital figures are indicative and may vary by business model, regulator feedback, application scope and third-party costs.

Application process

The sequence below shows the usual project flow. Exact steps depend on the regulator, business model and application scope. France — From 6 months.

Total timelineFrom 6 months

  1. Pre-assessment and scope review

    1–3 weeks

    Define the activity scope, governance model and target markets before formal preparation.

  2. Company setup in France

    2–6 weeks

    Establish legal entity, appoint local staff and set up local operating structure.

  3. Documentation and compliance packBottleneck risk

    3–8 weeks

    Prepare AML/CFT policies, governance documents, controls framework and application materials.

  4. Application submission to Autorité des Marchés Financiers

    1–2 weeks

    Submit complete application with all required documentation.

  5. Regulator reviewBottleneck risk

    From 6 months

    Regulator reviews the application. May request clarifications. Incomplete files extend this phase.

    Depends on: File quality and completeness

  6. Authorisation or registration confirmation

    1–4 weeks

    Regulator confirms authorisation or registration. Commence operations.

Fees, timelines and capital figures are indicative and may vary by business model, regulator feedback, application scope and third-party costs.

What can delay or increase cost

These factors are most likely to affect timelines and budgets for this route.

High setup complexity
High

Setup complexity is rated high for France. Company setup, governance and documentation take longer than average.

Likely impactAdd 4–8 weeks to the preparation phase.
MitigationStart company setup and governance planning immediately after scope confirmation.
Banking difficulty
High

Banking difficulty is rated high. Opening accounts for crypto businesses in France requires extensive documentation.

Likely impactBanking can delay or block operations for 3–6 months after authorisation.
MitigationIdentify and pre-qualify banking partners before submitting the application.
High maintenance cost
Medium

Ongoing supervision, audit and compliance costs are above average. Budget for these separately from the application fee.

Likely impactRecurring annual cost significantly above the one-time service price.
MitigationModel annual compliance costs before committing to this route.
Application completeness
Medium

Incomplete files are the most common cause of delay. Regulator queries extend review by weeks or months.

Likely impactEach regulator query adds 2–6 weeks to the review phase.
MitigationUse a structured compliance pack. Review file completeness before submission.

Fees, timelines and capital figures are indicative and may vary by business model, regulator feedback, application scope and third-party costs.

Banking and PSP readiness

France has a strong reputation signal, but the CSV still rates banking as medium to high difficulty and PSP availability as medium. Banking work should run in parallel with the application file rather than after authorisation.

Banking difficulty
High

Reflects how challenging it is to open and maintain business bank accounts in this jurisdiction.

Medium PSP availability
Medium

Reflects availability of payment service providers willing to onboard crypto-licensed entities.

A licence or registration does not guarantee bank account or payment provider approval. Banking feasibility should be reviewed before the application strategy is finalized.

Preparation checklist

  • Prepare source-of-funds evidence, flow-of-funds diagrams, safeguarding arrangements and token admission rules early.
  • Expect exchange, custody and fiat-heavy models to face deeper due diligence from banks and PSPs.
  • Do not assume AMF authorisation will automatically solve account opening or payment provider onboarding.

When France MiCA may not be the right route

France should not be selected only because it is a major EU market. It is better for serious regulated CASP operations than for low-budget, offshore-style or experimental launches.

  • The project needs the cheapest or fastest possible crypto setup.

  • The team cannot fund local staff, office, audit and ongoing compliance.

  • The business does not need EU/EEA passporting or a high-reputation EU home state.

  • The model is mainly DeFi, staking, payments or securities-adjacent and has not passed scope review.

Consider instead

  • Germany MICA — Strong EU banking and institutional credibility
  • Malta MICA — Established financial services regulator and MiCA positioning
  • Lithuania MICA — Lower service budget for EU CASP planning

Country-specific regulatory statements should be checked against current regulator guidance before relying on this route.

Business model fit — France

Assess how well this route covers your planned activities.

Fit score

Good fit
4/6
Partial fit
2/6
Poor fit
0/6

France is a strong fit for your activity profile

This route covers your key activities. Proceed with detailed legal review.

AMF regulator profile

Regulatory authority · France

Autorité des Marchés Financiers (AMF)

The AMF profile should be treated as a demanding regulated-market route. The application story needs a precise CASP perimeter, accountable management, AML controls, safeguarding logic and evidence that the French setup can operate the business it describes.

Likely areas of scrutiny
  • Expect regulator-facing materials to be reviewed as a regulated financial services file, not a simple company formation package.
  • Exchange and custody models need stronger technology, safeguarding and financial crime controls than narrower brokerage or wallet-only models.
  • Policies should match the actual flows of funds, crypto-assets, clients, outsourcing and complaints handling.
Regulatory reputation
High

Strong international recognition and established supervision track record.

Setup complexity
High

Reflects documentation depth, governance requirements and expected review friction.

Regulatory risk
Medium

Reflects likelihood of delays, additional information requests or policy uncertainty.

Country-specific regulatory statements should be checked against current regulator guidance before relying on this route.

Compliance documentation

Most crypto licensing routes require a documented compliance framework before submission, not only after approval.

  • Required
    AML/CFT policy and risk assessmentDocument your customer risk model and control framework.
  • Required
    Customer due diligence (CDD) procedures
  • Required
    Enhanced due diligence (EDD) proceduresFor high-risk clients and jurisdictions.
  • Required
    Transaction monitoring system and rules
  • Required
    Sanctions screening procedures
  • Required
    Suspicious activity reporting (SAR) process
  • Required
    MLRO / Compliance officer appointmentLocal accountability may be required.
  • Recommended
    Board-approved governance charter
  • Conditional
    Outsourcing policy and monitoringRequired if functions are outsourced.
  • Recommended
    ICT / cybersecurity policy
  • Required
    Complaints handling procedure
  • Required
    Annual external audit engagementRequired for ongoing supervision compliance.

Country-specific regulatory statements should be checked against current regulator guidance before relying on this route.

Documents to prepare

Preparing these materials before filing reduces regulator questions and helps with banking or payment provider onboarding.

0 / 12 required
Required
Recommended
Depends on scope

Corporate documents

AML and compliance

Operational

Fees, timelines and capital figures are indicative and may vary by business model, regulator feedback, application scope and third-party costs.

Risk assessment

Main risk dimensions for the France route.

Banking difficulty
High

Route risk rating — banking difficulty: Medium to high. Authorisation does not guarantee bank account opening.

Mitigation: Start banking outreach and compliance preparation before the application.

Setup complexity
High

Route risk rating — setup complexity: High.

Maintenance cost
High

Route risk rating — maintenance cost: High. Budget for ongoing compliance, fees and supervision separately.

Regulatory reputation
High

Route risk rating — regulatory reputation: Very high.

Regulatory risk
Medium

Route risk rating — regulatory risk: Low to medium. Weak compliance, vague scope or insufficient controls increase review risk.

Mitigation: Prepare an evidence-based compliance file before submission.

This content is for general orientation only. Crypto regulation changes quickly and the final scope should be confirmed through a jurisdiction-specific legal review before filing or incorporation.

France vs other MiCA countries

Compare France with Germany for banking-led credibility, Malta for an established financial services regulator, and Lithuania for a lower service budget. Non-EU VASP or registration routes may be better only when EU passporting is not commercially necessary.

Current

France

MICA

Price
23 400 EUR
Timeline
From 6 months
Passporting
EU/EEA
Banking
Medium to high
Reputation
Very high

Germany

MICA

Price
28 500 EUR
Timeline
From 6 months
Passporting
EU/EEA
Banking
Low
Reputation
High

+ Strong EU banking and institutional credibility

− Higher compliance intensity and filing cost

View route

Malta

MICA

Price
20 700 EUR
Timeline
From 6 months
Passporting
EU/EEA
Banking
Medium to high
Reputation
High

+ Established financial services regulator and MiCA positioning

− Still requires meaningful substance and banking preparation

View route

Lithuania

MICA

Price
16 600 EUR
Timeline
From 6 months
Passporting
EU/EEA
Banking
Medium
Reputation
Medium

+ Lower service budget for EU CASP planning

− Lower reputation signal than France for institution-facing models

View route

Fees, timelines and capital figures are indicative and may vary by business model, regulator feedback, application scope and third-party costs.

France vs other MiCA jurisdictions

Compare key parameters across MiCA-authorised jurisdictions.

Sort by:
FranceCurrent
Price23 400 EUR
TimelineFrom 6 months
BankingMedium to high
ReputationVery high
Germany
Price28 500 EUR
TimelineFrom 6 months
BankingLow
ReputationHigh
Malta
Price20 700 EUR
TimelineFrom 6 months
BankingMedium to high
ReputationHigh
Lithuania
Price16 600 EUR
TimelineFrom 6 months
BankingMedium
ReputationMedium

Check your readiness for France MiCA authorisation

Documented AML/CFT policies, risk assessment, compliance officer.

Share capital

From 50 000 EUR minimum capital required.

AML/CFT framework

Documented AML/CFT policies, risk assessment, compliance officer.

Governance structure

Board, management, accountability chain defined.

Banking preparation

Banking strategy and identified partners.

Local substance plan

Local staff and office in France.

Readiness status

Answer the criteria on the left to see your readiness status.

Frequently asked questions

No. France is positioned as a very-high-reputation EU CASP route with medium-to-high setup complexity. It is not a low-budget or fast offshore setup.

Yes, France can support EU/EEA passporting for approved CASP services. The passporting plan must still match the authorised service scope and target-market notification strategy.

The common friction points are unclear service scope, weak governance, insufficient local substance, custody or safeguarding gaps, AML controls that do not match real flows, and late banking preparation.

The CSV rates banking as medium to high difficulty and PSP availability as medium. A strong AMF-facing route can help the trust story, but it does not guarantee bank or PSP acceptance.

France is usually not the best first choice when the company wants a minimal-cost setup, does not need EU/EEA passporting, cannot support local substance, or has DeFi, staking, payment or securities-adjacent activities that still need scope review.

The page is not legal advice and should not be relied on as a substitute for advice from qualified counsel in the relevant jurisdiction.

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