MiCA License in Denmark

Yes, if you’re currently operating as a virtual asset service provider (VASP), then you’ll need to convert your registration by filing an application to the Danish Financial Supervisory Authority by July 1, 2026, for a complete transition.

Entities offering the following digital asset-related services should obtain the license:

• Custody and administration of assets
• trading platform
• exchanging the crypto for funds or other digital assets
• transfer services
• investment advisory
• portfolio management for crypto assets 
• Placing assets for public offerings
• Issuing asset-referenced tokens (ARTs) and E-money tokens (EMTs)

Yes, there is a supervisory fee charged by the FSA during the application review process, which could range from EUR 3,000 to 15,000, depending on the type of activities you’re seeking through the application. It should be noted that this fee is a time-based cost structure rather than an upfront charge like that of Malta and France.
You will be charged according to the time spent on your application review. For more information, schedule a call with our associates and get more insights on the fees and capital requirements for the Market crypto-asset service provider license.

A straightforward application will take around 6 to 12 months if there are no major clarifications or modifications requested by the Danish FSA. The review time itself takes around 3 to 6 months of the timeline.

Yes, as per the Danish Financial Authority rules, you should have a local substance in Denmark, meaning a complete management in the country, not just a virtual office. If you’re offering basic services like advisory and brokerage without custody, then you must have one local director (CEO) and one compliance officer.
If you’re providing services like custody, exchange, or trading on the platform, then at least 3 to 5 individuals must be in Denmark, including:

• The managing director (CEO) - EU/Denmark-based resident
• The money laundering/compliance officer 
• Customer support lead
• Chief tech officer
• CFO administrative supervisor

While not mandatory for all business structures, certain companies may require the appointment of a local director to meet regulatory compliance. Professional firms can assist in this process.

Yes, according to new rules, you’ll be able to operate in different European Union member states with your Danish MiCAR license.
However, before starting operations, you’ll have to notify the Danish FSA, which will then inform the concerned state’s financial authority and the European Securities and Markets Authority. Also, you can only operate under the specific activities listed under your license.

You'll be taxed at 22% on your profits earned either through your permanent establishment (PE) or income from Denmark. The eligible income includes advisory, custodial, trading crypto, or any other activity as specified in your MiCA license.
You can avail tax credits on income abroad via Denmark’s DTAs with 70+ countries. In case you’re a non-resident in Denmark, meaning not in the country for 180 days or above, then you don’t have to pay any taxes on foreign income.

First off, you’ll need a corporate bank account for managing salaries, expenses, and capital. If you’re handling client money via exchange or brokerage, then you’ll need a segregated client fund account, and to enhance extra transparency, you can split this into a “collection and payment account”. Your corporate account will be your default (NemKento), which will enable you to pay Danish taxes and obtain refunds. So, in total, 2 to 3 bank accounts.