Securing a Virtual Asset Service Provider (VASP) License in Bosnia offers businesses the opportunity to operate legally in a fast-growing and relatively untapped crypto market. Although Bosnia does not yet have a comprehensive regulatory framework for crypto assets, it follows international financial compliance standards, making it a jurisdiction where forward-thinking companies can establish a strong presence before the market fully matures. Early adopters can position themselves as industry leaders by setting high standards in security, transparency, and compliance.

One of the key advantages of obtaining a VASP license in Bosnia is the low-cost business environment. Compared to Western European jurisdictions, Bosnia offers competitive corporate tax rates and lower operational expenses, making it an attractive destination for crypto startups and established companies looking to expand. This cost efficiency allows businesses to allocate more resources toward innovation, marketing, and growth.

Another benefit is Bosnia’s growing fintech and digital economy sector, which is attracting international investment. With a well-educated workforce and a rising number of blockchain-focused professionals, companies can tap into local talent to support operations and expansion. Additionally, the country’s developing financial infrastructure presents opportunities for collaborations with banks, payment service providers, and regulatory bodies, helping crypto businesses integrate seamlessly into the financial system.

Lastly, obtaining a VASP license in Bosnia positions businesses for future expansion into the European market. While Bosnia is not yet an EU member, its alignment with European financial regulations makes it a strong candidate for companies that want to establish a foothold in the region before broader regulatory frameworks are introduced. With crypto adoption accelerating and regulatory clarity improving, Bosnia presents an exciting opportunity for businesses looking to enter a growing and evolving digital asset ecosystem.

Crypto Authorization allows for:

• Custody and management of virtual currencies on behalf of a third party,

• Organizing a platform for trading virtual currencies,

• Exchange of virtual currencies for a currency that is a legal means of payment,

• Exchange of virtual currencies for another virtual currency,

• Transfer of virtual currency,

• The sale of virtual currencies.

Requirements in Bosnia:

• Registration of a legal entity: It is necessary to register a company in Bosnia and Herzegovina. Foreign companies cannot yet obtain such a license.
• Bank account: Once the company is registered, it is necessary to open a special bank account in the Bank of Bosnia and Herzegovina to deposit the authorized capital. Later, after registration, the company will be able to open accounts in any other state.
• Internal AML/KYC regulations: Each virtual asset service provider is required to develop internal anti-money laundering (AML) and Know Your Customer (KYC) compliance policies. These documents must comply with local laws and FATF guidelines and can be prepared in English.
• Requirements for a company director: As for the company director, he or she does not have to be employed and receive a salary, however, he or she must visit B&H for opening bank accounts in Bosnia and Herzegovina or be a resident. It is important to note that the director is not required to become a tax resident and reside in Bosnia and Herzegovina for more than 180 days.
• MLRO requirements: The company is required to appoint an employee responsible for anti-money laundering (AML) compliance and customer due diligence (KYC) procedures. The anti-money laundering officer (MLRO) must be employed under an employment contract and his/her qualifications and experience will be a significant advantage.
• Relationship with public authorities: In addition, the legal entity should be registered with the tax authorities, the statistical office, and the Securities and Exchange Commission. Depending on the nature of the business, additional permits or licenses may be required from other state authorities.