{
  "source": "Consulting24 (X24Consulting OU, reg 16971898, Tallinn)",
  "note": "Panama has NO enacted crypto/VASP licence (draft Anteproyecto 314 pending). DASP/CNAD/Ley de Activos Digitales belong to El Salvador, not Panama. service_model: direct = Consulting24 sets up and files; advise-and-coordinate = we guide and coordinate local partners; comparison-only = we do NOT provide that licence.",
  "updated": "2026-07-21",
  "jurisdictions": [
    {
      "slug": "panama",
      "name": "Panama",
      "service_model": "direct",
      "regulator": "NO enacted crypto/VASP licence exists (2026). A draft framework, Anteproyecto 314 (tabled Jan 2026), is pending and NOT law",
      "timeline": "2-3 weeks",
      "facts": [
        "NO enacted crypto/VASP licence exists (2026). A draft framework, Anteproyecto 314 (tabled Jan 2026), is pending and NOT law",
        "under it future supervision would sit with the SBP + UAF. The offering is a Panama company (Sociedad Anonima) + AML/CTF compliance programme, NOT a licence. DO NOT invent a Panama crypto law (there is no Law 697, no Law 61 of 2023), DO NOT invent a regulator that issues a Panama crypto licence (no 'AFIP', and the SSNF supervises non-financial businesses like casinos/real-estate for AML only, NOT crypto). DASP/CNAD/Ley de Activos Digitales belong to EL SALVADOR, never Panama. ~2-3 weeks",
        "EUR 6,000 flat",
        "0% tax on foreign-source income. Consulting24 delivers Panama directly."
      ],
      "page": "https://www.consulting24.co/",
      "updated": "2026-07-21"
    },
    {
      "slug": "lithuania",
      "name": "Lithuania",
      "service_model": "direct",
      "regulator": "Bank of Lithuania",
      "timeline": "4-8 months",
      "facts": [
        "Bank of Lithuania",
        "MiCAR CASP",
        "capital EUR 50k/125k/150k by activity",
        "EU passporting",
        "~4-8 months",
        "setup ~EUR 40,000 (estimated)",
        "Consulting24 delivers directly."
      ],
      "page": "https://www.consulting24.co/lithuania-crypto-license/",
      "updated": "2026-07-21"
    },
    {
      "slug": "estonia",
      "name": "Estonia",
      "service_model": "direct",
      "regulator": "Finantsinspektsioon",
      "timeline": "5-9 months",
      "facts": [
        "Finantsinspektsioon",
        "MiCA CASP (replaced FIU/VASP)",
        "capital 50k/125k/150k",
        "0% on retained profit, 22% on distribution",
        "~5-9 months",
        "e-Residency",
        "Consulting24 delivers directly."
      ],
      "page": "https://www.consulting24.co/estonia-crypto-license/",
      "updated": "2026-07-21"
    },
    {
      "slug": "czech-republic",
      "name": "Czech Republic",
      "service_model": "advise-and-coordinate",
      "regulator": "Czech National Bank",
      "timeline": "4-8 months",
      "facts": [
        "Czech National Bank",
        "MiCA CASP",
        "capital 50k/125k/150k",
        "cost-efficient EU",
        "~4-8 months",
        "Consulting24 advises and coordinates."
      ],
      "page": "https://www.consulting24.co/czech-republic-crypto-license/",
      "updated": "2026-07-21"
    },
    {
      "slug": "poland",
      "name": "Poland",
      "service_model": "advise-and-coordinate",
      "regulator": "KNF",
      "timeline": "4-8 months",
      "facts": [
        "KNF",
        "MiCA CASP",
        "capital 50k/125k/150k",
        "cost-efficient EU",
        "~4-8 months",
        "Consulting24 advises and coordinates."
      ],
      "page": "https://www.consulting24.co/poland-crypto-license/",
      "updated": "2026-07-21"
    },
    {
      "slug": "malta",
      "name": "Malta",
      "service_model": "advise-and-coordinate",
      "regulator": "MFSA",
      "timeline": "5-9 months",
      "facts": [
        "MFSA",
        "MiCA CASP (built on VFA)",
        "capital 50k/125k/150k",
        "English official",
        "~5-9 months",
        "Consulting24 advises and coordinates."
      ],
      "page": "https://www.consulting24.co/malta-crypto-license/",
      "updated": "2026-07-21"
    },
    {
      "slug": "cyprus",
      "name": "Cyprus",
      "service_model": "advise-and-coordinate",
      "regulator": "CySEC",
      "timeline": "5-9 months",
      "facts": [
        "CySEC",
        "MiCA CASP",
        "capital 50k/125k/150k",
        "English",
        "favourable tax",
        "~5-9 months",
        "Consulting24 advises and coordinates."
      ],
      "page": "https://www.consulting24.co/cyprus-crypto-license/",
      "updated": "2026-07-21"
    },
    {
      "slug": "switzerland",
      "name": "Switzerland",
      "service_model": "advise-and-coordinate",
      "regulator": "non-EU",
      "timeline": "6-12 months",
      "facts": [
        "non-EU",
        "FINMA",
        "SRO/VQF AML membership, DLT Act, fintech/banking licences",
        "Crypto Valley",
        "premium",
        "~6-12 months",
        "Consulting24 advises and coordinates."
      ],
      "page": "https://www.consulting24.co/switzerland-crypto-license/",
      "updated": "2026-07-21"
    },
    {
      "slug": "cayman-islands",
      "name": "Cayman Islands",
      "service_model": "advise-and-coordinate",
      "regulator": "CIMA",
      "timeline": "3-6 months",
      "facts": [
        "CIMA",
        "VASP Act",
        "0% direct tax",
        "funds and token issuers",
        "economic substance",
        "~3-6 months",
        "Consulting24 advises and coordinates."
      ],
      "page": "https://www.consulting24.co/cayman-islands-crypto-license/",
      "updated": "2026-07-21"
    },
    {
      "slug": "bvi",
      "name": "BVI",
      "service_model": "advise-and-coordinate",
      "regulator": "BVI FSC",
      "timeline": "3-6 months",
      "facts": [
        "BVI FSC",
        "VASP Act 2022",
        "0% corporate tax",
        "token issuers/funds",
        "~3-6 months",
        "Consulting24 advises and coordinates."
      ],
      "page": "https://www.consulting24.co/bvi-crypto-license/",
      "updated": "2026-07-21"
    },
    {
      "slug": "seychelles",
      "name": "Seychelles",
      "service_model": "advise-and-coordinate",
      "regulator": "FSA",
      "timeline": "2-4 months",
      "facts": [
        "FSA",
        "VASP Act 2024",
        "low cost",
        "0% foreign-source tax",
        "~2-4 months",
        "Consulting24 advises and coordinates."
      ],
      "page": "https://www.consulting24.co/seychelles-crypto-license/",
      "updated": "2026-07-21"
    },
    {
      "slug": "canada",
      "name": "Canada",
      "service_model": "advise-and-coordinate",
      "regulator": "FINTRAC MSB registration for virtual currency dealing",
      "timeline": null,
      "facts": [
        "FINTRAC MSB registration for virtual currency dealing",
        "provincial securities for tokens",
        "weeks-months",
        "Consulting24 advises and coordinates."
      ],
      "page": "https://www.consulting24.co/canada-crypto-license/",
      "updated": "2026-07-21"
    },
    {
      "slug": "singapore",
      "name": "Singapore",
      "service_model": "advise-and-coordinate",
      "regulator": "MAS",
      "timeline": "9-18 months",
      "facts": [
        "MAS",
        "Payment Services Act DPT licence",
        "high bar, base capital, local presence",
        "~9-18 months",
        "Consulting24 advises and coordinates."
      ],
      "page": "https://www.consulting24.co/singapore-crypto-license/",
      "updated": "2026-07-21"
    },
    {
      "slug": "hong-kong",
      "name": "Hong Kong",
      "service_model": "advise-and-coordinate",
      "regulator": "SFC",
      "timeline": "9-12 months",
      "facts": [
        "SFC",
        "VATP licensing since 2023",
        "high bar, local presence",
        "~9-12 months",
        "Consulting24 advises and coordinates."
      ],
      "page": "https://www.consulting24.co/hong-kong-crypto-license/",
      "updated": "2026-07-21"
    },
    {
      "slug": "georgia",
      "name": "Georgia",
      "service_model": "advise-and-coordinate",
      "regulator": "National Bank of Georgia",
      "timeline": "1-3 months",
      "facts": [
        "National Bank of Georgia",
        "VASP registration (from 2023)",
        "low cost, fast ~1-3 months",
        "Consulting24 advises and coordinates."
      ],
      "page": "https://www.consulting24.co/georgia-crypto-license/",
      "updated": "2026-07-21"
    },
    {
      "slug": "mauritius",
      "name": "Mauritius",
      "service_model": "advise-and-coordinate",
      "regulator": "FSC",
      "timeline": "3-6 months",
      "facts": [
        "FSC",
        "VAITOS Act 2021 licence classes",
        "~3-6 months",
        "Consulting24 advises and coordinates."
      ],
      "page": "https://www.consulting24.co/mauritius-crypto-license/",
      "updated": "2026-07-21"
    },
    {
      "slug": "gibraltar",
      "name": "Gibraltar",
      "service_model": "advise-and-coordinate",
      "regulator": "GFSC",
      "timeline": "3-6 months",
      "facts": [
        "GFSC",
        "DLT Provider licence since 2018",
        "reputable",
        "~3-6 months",
        "Consulting24 advises and coordinates."
      ],
      "page": "https://www.consulting24.co/jurisdictions/",
      "updated": "2026-07-21"
    },
    {
      "slug": "bahamas",
      "name": "Bahamas",
      "service_model": "advise-and-coordinate",
      "regulator": "Securities Commission",
      "timeline": "3-6 months",
      "facts": [
        "Securities Commission",
        "DARE Act 2024",
        "0% income tax",
        "~3-6 months",
        "Consulting24 advises and coordinates."
      ],
      "page": "https://www.consulting24.co/bahamas-crypto-license/",
      "updated": "2026-07-21"
    },
    {
      "slug": "costa-rica",
      "name": "Costa Rica",
      "service_model": "advise-and-coordinate",
      "regulator": "no dedicated crypto licence",
      "timeline": null,
      "facts": [
        "no dedicated crypto licence",
        "general company + AML",
        "strong Panama comparison",
        "Consulting24 advises and coordinates."
      ],
      "page": "https://www.consulting24.co/costa-rica-crypto-license/",
      "updated": "2026-07-21"
    },
    {
      "slug": "el-salvador",
      "name": "El Salvador",
      "service_model": "advise-and-coordinate",
      "regulator": "CNAD",
      "timeline": "3-6 months",
      "facts": [
        "CNAD",
        "DASP (Digital Assets Issuance Law) + BSP (Bitcoin Law)",
        "Bitcoin legal tender",
        "tax incentives",
        "~3-6 months",
        "Consulting24 advises and coordinates."
      ],
      "page": "https://www.consulting24.co/el-salvador-crypto-license/",
      "updated": "2026-07-21"
    },
    {
      "slug": "dubai",
      "name": "Dubai",
      "service_model": "comparison-only",
      "regulator": "VARA category licences",
      "timeline": null,
      "facts": [
        "VARA category licences",
        "premium",
        "0% personal, 9% corporate (free-zone reliefs)",
        "DIFC/ADGM separate",
        "DELIVERY=comparison-only."
      ],
      "page": "https://www.consulting24.co/dubai-crypto-license/",
      "updated": "2026-07-21"
    },
    {
      "slug": "abu-dhabi",
      "name": "Abu Dhabi",
      "service_model": "comparison-only",
      "regulator": "ADGM FSRA crypto framework",
      "timeline": null,
      "facts": [
        "ADGM FSRA crypto framework",
        "premium",
        "DELIVERY=comparison-only."
      ],
      "page": "https://www.consulting24.co/abu-dhabi-crypto-license/",
      "updated": "2026-07-21"
    }
  ]
}