Obtaining a VASP license in Bosnia and Herzegovina
Due to global changes in cryptocurrency regulation, including the entry into force of the MiCA law in the EU, companies working with digital assets are actively looking for new jurisdictions to legalize their activities. One of the promising countries in this direction is Bosnia and Herzegovina, where rules regulating the activities of virtual asset service providers (VASP) have recently been introduced.
What services does the VASP license cover
The new license covers a wide range of operations with digital assets, including:
- Storage of cryptocurrencies and wallet management
- Organization of trading platforms
- Exchange of cryptocurrencies for fiat money and other digital assets
- Transfers on behalf of clients
- Financial participation in the issue and sale of virtual assets
This opens up wide opportunities for companies planning to operate in a legal field and expand the range of their services in the European market.
Basic requirements for the applicant
To obtain a license, it is necessary to register a company in Bosnia and Herzegovina. The main conditions include:
- Availability of a local legal address
- Recommended authorized capital from 1000 euros
- Possibility of appointing a resident or EU citizen director
- Opening a bank account in a local bank (with a personal visit)
- Detailed business plan and appointment of an MLRO officer
- Compliance with financial reporting requirements
These conditions ensure transparency and compliance with anti-money laundering and counter-terrorism financing (AML/CFT) requirements.
The procedure for obtaining a license takes from 8 to 12 weeks and requires a professional approach. IT-OFFSHORE offers comprehensive support for the process of obtaining a VASP license in Bosnia and Herzegovina: from business registration to filing documents and obtaining permits.
