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🇵🇹 Portugal

Banco de Portugal, MiCA CASP

Crypto (CASP) E-Money (EMI)
Last verified 2026-07-01 Next review 2026-07-15

Data verified: oldest cell 2 days ago (verified 2026-07-01). Individual cells show their own verification date below.

Licence type

MiCA CASP authorisation implemented by Lei n.o 69/2025 (22 Dec 2025). Replaces the legacy Banco de Portugal VASP (AML) registration.

Verified 2026-07-01 Source: Lei n.o 69/2025 - Diario da Republica: https://diariodarepublica.pt/dr/detalhe/lei/69-2025-992098939

Regulator

Twin-peaks: BANCO DE PORTUGAL is the CASP authorisation authority + prudential/AML supervisor (single application front door); CMVM is the conduct-of-business and market-abuse supervisor. (Corrects the seed - not CMVM-led.)

Verified 2026-07-01 Source: Morais Leitao legal alert: https://www.mlgts.pt/en/knowledge/legal-alerts/Legal-Alert-Implementation-of-the-Markets-in-Crypto-Assets-Regulation-in-Portugal/26444/

Capital requirement 🔒

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Timeline to authorisation 🔒

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Local substance 🔒

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Application cost 🔒

Unlock application cost with the Founder Pass Source: bportugal.pt

Ongoing cost 🔒

Unlock ongoing cost with the Founder Pass Source: diariodarepublica.pt

Passporting 🔒

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MiCA CASPs approved 🔒

Unlock mica casps approved with the Founder Pass Source: helmsadvisory.com

Key restrictions 🔒

Unlock key restrictions with the Founder Pass Source: dlapiper.com

Recent changes

Lei 69/2025 (MiCA) + Lei 70/2025 (Travel Rule) published 22 Dec 2025 - ~1 year late. Legacy-VASP transitional window closes 1 Jul 2026 (today). Few Portugal-AUTHORISED CASPs so far.

Verified 2026-07-01 Source: Diario da Republica - Lei 69/2025: https://diariodarepublica.pt/dr/detalhe/lei/69-2025-992098939

Difficulty rating 🔒

Unlock difficulty rating with the Founder Pass Source: helmsadvisory.com

The decision numbers for Portugal are one step away

Capital, timeline, costs, substance, passporting, restrictions and difficulty, with sources and verification dates. Deciding now? The one-off Founder Pass (£349) unlocks everything for 30 days. The free showcase jurisdiction shows you the exact format and quality first.

See pricing See the free jurisdiction first

Track Portugal

Get an email when this regime changes, fee schedules, capital rules, transition deadlines.

Informational only, not legal advice. Entries marked as placeholder or awaiting verification must not be relied on. Confirm all requirements with Portugal's regulator and qualified local counsel before acting.