Portugal Crypto License (VASP): Your Guide to Banco de Portugal Registration & AML Compliance

Portugal continues to rise as a prime hub for crypto businesses in Europe. Known for its favorable tax policies and flexible business environment, the country offers an attractive entry point to the EU market under the Virtual Asset Service Provider (VASP) regime regulated by the Banco de Portugal.

This guide walks you through every step to register your crypto company in Portugal and how Scorechain helps simplify your AML compliance journey.

What is a Crypto License in Portugal?

In Portugal, a “crypto license” refers to the official registration of a company as a Virtual Asset Service Provider (VASP) with the Banco de Portugal. This authorization is mandatory for businesses offering:

• Exchange between crypto-assets and fiat currencies or between different crypto-assets
  
  
• Transfer of virtual assets
  
  
• Custody or administration of crypto-assets, including private keys
  
  

Why Portugal for Your Crypto Company?

Portugal stands out with distinct advantages for crypto entrepreneurs:

• Strategic EU Access: Registering in Portugal provides legal recognition across the EU under MiCA.
  
  
• Business-Friendly Tax Regime: Madeira-based companies may benefit from a corporate tax as low as 5%.
  
  
• Remote Company Setup: Non-residents can register and operate a crypto business remotely.
  
  
• No Capital Requirement for VASP Registration: Ideal for startups and SMEs entering the space.
  
  

Portugal Crypto License Requirements

To register as a VASP with Banco de Portugal, companies must:

• Incorporate a local entity (LDA or SA)
  
  
• Maintain a physical office and hire local staff
  
  
• Appoint a Portuguese-resident director and AML officer
  
  
• Meet AML-CFT and KYC compliance standards
  
  
• Hold a minimum share capital of €5,000 (recommended: higher)
  
  
• Prepare all operational, financial, and risk management documentation
  
  

Step-by-Step Guide to Portugal VASP Registration

Step 1: Company Formation

• Choose legal structure (LDA or SA)
  
  
• Register entity in Portugal or Madeira
  
  
• Secure a physical office and local representative
  
  

Step 2: Compliance Preparation

• Draft AML/CFT policies and KYC procedures
  
  
• Hire and train an AML officer
  
  
• Prepare risk assessment, transaction monitoring, and internal control frameworks
  
  

Step 3: Submit VASP Application

• Apply to Banco de Portugal with full documentation
  
  
• Undergo due diligence and regulatory interviews
  
  
• Approval time: 6–9 months
  
  

Post-Registration Responsibilities

Once registered, VASPs must:

• Continuously monitor transactions and conduct client due diligence
  
  
• Submit annual compliance reports and undergo audits
  
  
• Maintain ongoing communication with the regulator
  
  

How Scorechain Streamlines Your Compliance

Scorechain provides robust blockchain analytics and AML tools to simplify compliance for Portuguese VASPs:

• Automated AML Reporting: Generate regulator-ready reports with ease
  
  
• Advanced Transaction Monitoring: Detect and flag suspicious activity in real-time
  
  
• Client Risk Profiling: Maintain dynamic, compliant KYC/AML records
  
  
• Plug-and-Play Integration: Easily integrate Scorechain with your operational stack
  
  

Why Choose Scorechain?

• Trusted by regulators and top-tier crypto companies worldwide
  
  
• Scalable AML solution tailored for both startups and institutional players
  
  
• Full support for MiCA and Portuguese AML regulations
  
  

Ready to Launch Your Crypto Company in Portugal?

Whether you’re setting up in Lisbon or leveraging Madeira’s tax advantages, Scorechain is your go-to partner for seamless regulatory compliance.

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