KUNAISA license · Virtual assets
Crypto (VASP) license in Panama through KUNAISA
Panama doesn’t have a national licensing law for crypto businesses yet. The SMV has said crypto assets aren’t securities under its supervision, and the bills before the National Assembly hadn’t passed by October 2026. A KUNAISA VASP license gives you a documented AML framework and a license number to show banks and partners in the meantime, without being a national license.
- Setup
- From $20,000, paid once
- Maintenance
- $2,500 a month, yearly renewal included
- Panama’s crypto law
- No national VASP regime yet; bills pending
Scope
Services the license covers
KUNAISA’s VASP license is written for businesses that handle virtual assets on behalf of other people:
- Crypto-to-fiat and crypto-to-crypto exchange
- Custody and wallets where you control the private keys
- Token and NFT issuance
- OTC trading desks
- Crypto payment processing for merchants
Who applies
Who usually applies
- Centralized exchanges and crypto brokerage apps
- Custodial wallet providers
- OTC desks serving funds and high-net-worth clients
- Token issuers and tokenization platforms
- Payment companies that settle in crypto or stablecoins
Price
What the price includes
One setup fee covers the company and the application. A monthly plan then keeps both in good standing.
From
$20,000
one-time setup, then $2,500 a month for the company and license upkeep
Indicative pricing, not a quote. The final figure depends on the business model, the shareholders and the add-ons you choose.
- Panamanian company formation
- Preparation and filing of the VASP application
- AML/CFT policies and compliance documentation
- Registered office in Panama
- Utility bill for bank account verification
- Certificate of good standing
- Certificate of incumbency
- A twelfth of the annual license renewal in every monthly payment
Quoted separately: fiat on- and off-ramps, custody infrastructure, corporate banking, payment gateways and technical integrations.
Where Panama’s crypto law stands
No Panamanian statute licenses virtual asset service providers today. A crypto bill passed in 2022 was vetoed, and the bills filed since 2025, including one on VASP supervision and registration, were still pending in October 2026. Panama’s next FATF evaluation is due in 2027, which is likely to push a law through.
No national regulator recognizes the KUNAISA license. Its value is practical: a written AML/CFT and custody framework, a license number and a Panamanian company, which some banks, on-ramps and exchanges ask to see. Others won’t accept it, so we check the partners you plan to use before you apply.
Once a national law passes, existing crypto businesses will probably have to register or apply under it. We follow the bills and tell our clients what changes.
How it works
From first call to license
- 01
Free assessment
Tell Vera or our team what you plan to launch. We confirm the license route and send you a written quote.
- 02
Company setup
We form your Panamanian company, or review the one you already have.
- 03
Application file
We draft and collect the documents KUNAISA asks for and check every one before submission.
- 04
Filing
We submit and answer KUNAISA’s follow-up questions. KUNAISA quotes 60 to 90 days for a Forex application; we give you our estimate once your file is complete.
- 05
License issued
You receive the license and we start the monthly maintenance plan.
- 06
Ongoing support
Renewal, corporate certificates and compliance questions, all covered by the monthly plan.
Before you apply
Crypto license questions
- Do I need a license to run a crypto business in Panama?
- Panama has no national crypto licensing law at the moment, and the SMV has said an exchange dealing only in assets like bitcoin doesn’t need its license. That will change when one of the pending bills passes, and the rules of the countries you serve apply either way.
- How much does a VASP license cost through KUNAISA?
- From $20,000 for setup, then $2,500 a month for company and license maintenance, with the yearly renewal included.
- Does it cover custody of client assets?
- Yes. Custody and wallet services where you control the private keys are within its scope, and the application has to show how you safeguard and segregate client assets.
- Can I combine it with a Forex or iGaming license?
- Yes. Crypto with Forex and crypto with iGaming are the most common pairings, held by one Panamanian company.
Next step
Let’s discuss your plans in Panama.
Vera, our AI assistant, takes the first call. She notes what your matter is about, then a professional at the firm follows up.