A CASP authorisation from the CNMV passports across the whole European Economic Area. Pick what you intend to do below and the capital floor, the timetable and the earliest date you could be operating are drawn for you.
Select every service you plan to offer. Capital requirements are set by the heaviest one, not by the number of them.
Since 1 July 2026 a full CASP authorisation from the CNMV is required. The earlier registration with the Banco de España is no longer sufficient, and firms still relying on it are operating without a valid basis rather than inside a grace period.
Applications are not rejected because a document is missing. They are rejected because the business plan describes one company, the governance map describes another and the AML procedure was written for a third.
A CASP file needs regulatory, AML and IT security specialists. It also needs a Spanish company that exists properly, is governed properly and can evidence substance — and that half is where most foreign applicants lose months before the regulatory work even starts.
No. That registration was a different and narrower regime, and since 1 July 2026 it is no longer a basis on which to provide services. Holding it does not shorten the authorisation process either, though the documentation you assembled for it is usually a useful starting point.
The applicant must be a legal person established in Spain, with a Spanish branch permitted in certain cases for third-country firms. Incorporating is therefore the first step rather than a parallel one, and doing it badly — wrong capital, wrong objects, wrong governance — creates work that has to be undone before the file can go in.
Preparing a complete file typically runs three to six months, and CNMV review a further three to nine. The range is wide because both ends depend on the same thing: how complete and how coherent the submission is. Nobody can commit to the regulator's side of it, and a provider who does is selling you something they do not control.
Because the licence is the same licence. MiCA is a regulation, the authorisation passports across the EEA, and the substantive requirements do not change with the flag. What changes is cost base, talent availability, the regulator's queue and where your people actually want to live. If your team is in Spain, licensing somewhere else creates a substance problem you will spend years explaining.
Our side is scoped and fixed before work begins, and depends on the entity structure, the number of individuals requiring certificates and NIE, and whether a branch or a subsidiary is used. The regulatory side is quoted by the specialist team on the services you select. We will not quote a single number for both halves, because that is how projects end up under-resourced on the half that gets your file returned.