UHDU compared with offshore licensing
No local director or office
Formed and run online, from anywhere. Curaçao, for one, licenses only a company with its registered office there and a local director.
Granted online, once paid
Licences are granted after one Bitcoin confirmation, or once the Protection Deposit arrives for protected classes. No application queue.
No tax, no levy on revenue
The Union levies no company tax, VAT or gaming duty, and takes no share of your revenue. Fees are flat.
Protection your customers can check
Where customers' money is held, a Protection Deposit stands behind them, visible in the register and returned to you after the claims period.
By industry
A licence for your business
What a regulator charges to apply and every year, against a Union Licence for the same activity. All figures are from the regulators' own fee schedules, archived as published.
UHDU
Digital Company and V4 Exchange
- To apply
- No application fee
- Every year
- 0.03 BTC
- $2,145 · €1,941 · £1,620
- Money set aside
- 5 BTC deposit, returnable
- Local presence
- None
Seychelles
Virtual asset service provider licence, exchange, Financial Services Authority
- To apply
- SCR 75,000
- Every year
- SCR 450,000: a SCR 75,000 base fee and SCR 375,000 for an exchange
- Money set aside
- Paid-up capital of USD 100,000
- Local presence
- At least one resident director
British Virgin Islands
VASP registration, exchange, Financial Services Commission
- To apply
- USD 10,000
- Every year
- USD 25,000
Cayman Islands
Virtual asset service licence for a trading platform, Cayman Islands Monetary Authority
- To apply
- KYD 5,000, plus KYD 100,000 on grant
- Every year
- From KYD 50,000, rising with revenue
Mauritius
Virtual asset market place (Class S), Financial Services Commission
- To apply
- USD 3,000
- Every year
- USD 5,000
- Money set aside
- Capital of 6,500,000 Mauritian rupees
Malta
Crypto-asset service provider under MiCA, Class 3, Malta Financial Services Authority
- To apply
- €25,000
- Every year
- €50,000, plus €2,000 per service and 0.05% of transaction volume, up to €250,000
| Where | To apply | Every year | Money set aside | Local presence |
|---|---|---|---|---|
UHDU Digital Company and V4 Exchange | No application fee | 0.03 BTC $2,145 · €1,941 · £1,620 | 5 BTC Protection Deposit Still yours: returned after the claims period, less any Court awards | None |
Seychelles Virtual asset service provider licence, exchange, Financial Services Authority | SCR 75,000 | SCR 450,000: a SCR 75,000 base fee and SCR 375,000 for an exchange | Paid-up capital of USD 100,000 | At least one resident director |
British Virgin Islands VASP registration, exchange, Financial Services Commission | USD 10,000 | USD 25,000 | Not stated in the fee schedule | Not stated in the fee schedule |
Cayman Islands Virtual asset service licence for a trading platform, Cayman Islands Monetary Authority | KYD 5,000, plus KYD 100,000 on grant | From KYD 50,000, rising with revenue | Not stated in the fee schedule | Not stated in the fee schedule |
Mauritius Virtual asset market place (Class S), Financial Services Commission | USD 3,000 | USD 5,000 | Capital of 6,500,000 Mauritian rupees | Not stated in the fee schedule |
Malta Crypto-asset service provider under MiCA, Class 3, Malta Financial Services Authority | €25,000 | €50,000, plus €2,000 per service and 0.05% of transaction volume, up to €250,000 | Not stated in the fee schedule | Not stated in the fee schedule |
UHDU
Digital Company and G3 Casino and games of chance, G4 Sports and event betting
- To apply
- No application fee
- Every year
- 0.05 BTC
- $3,575 · €3,235 · £2,700
- Money set aside
- 1 BTC deposit, returnable
- Local presence
- None
Curaçao
B2C online gaming licence, Curaçao Gaming Authority
- To apply
- EUR 4,592
- Every year
- EUR 47,450: a EUR 24,490 licence fee and a EUR 22,960 supervisory fee
- Local presence
- A company established in Curaçao, with its registered office there and a local director
Malta
B2C gaming licence, Malta Gaming Authority
- To apply
- €5,000
- Every year
- €25,000, plus a compliance contribution on gaming revenue of at least €15,000 for casino games from the second year, up to €375,000
Gibraltar
B2C gaming operator licence, Gibraltar Gambling Commissioner
- To apply
- £30,000
- Every year
- £50,000 below £20 million gross yield, plus duty of 0.15% of gross gaming profit above £100,000
Kahnawake
Client Provider Authorization, Kahnawake Gaming Commission
- To apply
- $35,000, including the first year's fee
- Every year
- $20,000
- Money set aside
- Security of a type and amount the Commission decides
| Where | To apply | Every year | Money set aside | Local presence |
|---|---|---|---|---|
UHDU Digital Company and G3 Casino and games of chance, G4 Sports and event betting | No application fee | 0.05 BTC $3,575 · €3,235 · £2,700 | 1 BTC Protection Deposit Still yours: returned after the claims period, less any Court awards | None |
Curaçao B2C online gaming licence, Curaçao Gaming Authority | EUR 4,592 | EUR 47,450: a EUR 24,490 licence fee and a EUR 22,960 supervisory fee | Not stated in the fee schedule | A company established in Curaçao, with its registered office there and a local director |
Malta B2C gaming licence, Malta Gaming Authority | €5,000 | €25,000, plus a compliance contribution on gaming revenue of at least €15,000 for casino games from the second year, up to €375,000 | Not stated in the fee schedule | Not stated in the fee schedule |
Gibraltar B2C gaming operator licence, Gibraltar Gambling Commissioner | £30,000 | £50,000 below £20 million gross yield, plus duty of 0.15% of gross gaming profit above £100,000 | Not stated in the fee schedule | Not stated in the fee schedule |
Kahnawake Client Provider Authorization, Kahnawake Gaming Commission | $35,000, including the first year's fee | $20,000 | Security of a type and amount the Commission decides | Not stated in the fee schedule |
Suppliers pay far more offshore too: Curaçao charges a B2B licensee EUR 24,490 a year, and Gibraltar a platform supplier £20,000 to apply and £85,000 a year. A Union G7 licence for gaming platforms costs 0.005 BTC a year, with no deposit.
UHDU
Digital Company and V9 Derivatives and leveraged trading
- To apply
- No application fee
- Every year
- 0.03 BTC
- $2,145 · €1,941 · £1,620
- Money set aside
- 5 BTC deposit, returnable
- Local presence
- None
Seychelles
Securities dealer licence, Financial Services Authority
- To apply
- USD 3,000
- Every year
- USD 6,000
- Money set aside
- Paid-up capital of USD 100,000
Securities fees regulations 2024Securities dealer guidelines
Belize
Trading in commodity-based and other financial instruments, Financial Services Commission
- To apply
- USD 1,000
- Every year
- USD 25,000
Vanuatu
Financial dealers licence (principal), Vanuatu Financial Services Commission
- To apply
- VT 50,000
- Every year
- VT 100,000
- Money set aside
- A deposit of VT 5 million
| Where | To apply | Every year | Money set aside | Local presence |
|---|---|---|---|---|
UHDU Digital Company and V9 Derivatives and leveraged trading | No application fee | 0.03 BTC $2,145 · €1,941 · £1,620 | 5 BTC Protection Deposit Still yours: returned after the claims period, less any Court awards | None |
Seychelles Securities dealer licence, Financial Services Authority Securities fees regulations 2024Securities dealer guidelines | USD 3,000 | USD 6,000 | Paid-up capital of USD 100,000 | Not stated in the fee schedule |
Belize Trading in commodity-based and other financial instruments, Financial Services Commission | USD 1,000 | USD 25,000 | Not stated in the fee schedule | Not stated in the fee schedule |
Vanuatu Financial dealers licence (principal), Vanuatu Financial Services Commission | VT 50,000 | VT 100,000 | A deposit of VT 5 million | Not stated in the fee schedule |
UHDU
Digital Company and V10 Investment funds
- To apply
- No application fee
- Every year
- 0.03 BTC
- $2,145 · €1,941 · £1,620
- Money set aside
- 2.5 BTC deposit, returnable
- Local presence
- None
Cayman Islands
Registered mutual fund, Cayman Islands Monetary Authority
- To apply
- KYD 4,125
- Every year
- KYD 4,125
| Where | To apply | Every year | Money set aside | Local presence |
|---|---|---|---|---|
UHDU Digital Company and V10 Investment funds | No application fee | 0.03 BTC $2,145 · €1,941 · £1,620 | 2.5 BTC Protection Deposit Still yours: returned after the claims period, less any Court awards | None |
Cayman Islands Registered mutual fund, Cayman Islands Monetary Authority | KYD 4,125 | KYD 4,125 | Not stated in the fee schedule | Not stated in the fee schedule |
UHDU
Digital Company and I2 Captive insurance
- To apply
- No application fee
- Every year
- 0.03 BTC
- $2,145 · €1,941 · £1,620
- Money set aside
- 2.5 BTC deposit, returnable
- Local presence
- None
Guernsey
Captive insurer (Category 5), Guernsey Financial Services Commission
- To apply
- £7,850
- Every year
- £7,850
Bermuda
Class 1 insurer, general business, Bermuda Monetary Authority
- To apply
- BMD 800, plus BMD 2,250 on registration
- Every year
- BMD 2,250
| Where | To apply | Every year | Money set aside | Local presence |
|---|---|---|---|---|
UHDU Digital Company and I2 Captive insurance | No application fee | 0.03 BTC $2,145 · €1,941 · £1,620 | 2.5 BTC Protection Deposit Still yours: returned after the claims period, less any Court awards | None |
Guernsey Captive insurer (Category 5), Guernsey Financial Services Commission | £7,850 | £7,850 | Not stated in the fee schedule | Not stated in the fee schedule |
Bermuda Class 1 insurer, general business, Bermuda Monetary Authority | BMD 800, plus BMD 2,250 on registration | BMD 2,250 | Not stated in the fee schedule | Not stated in the fee schedule |
Bitcoin amounts are shown in other currencies at Kraken's price on 12 November 2026: 1 BTC ≈ $71,500, €64,700, £54,000. Offshore figures are the regulators' published fees; agents, local staff, offices, audits and capital add to them.
Company formation
The company alone
Before any licence, an offshore company has to be formed. An incorporation agent's prices, against a Digital Company.
| Company | Formation price |
|---|---|
| UHDU Digital Company | 0.01 BTC a year ($715 · €647 · £540) |
| Seychelles IBC | $1,600 |
| Belize LLC | $1,750 |
| British Virgin Islands BC | $2,475 |
| Cayman Islands exempted company | $3,550 |
| Curaçao BV | $4,800 |
Formation prices quoted by an incorporation agent, as listed on incorporations.io, before any licence or annual renewal. incorporations.io (Flag Theory)
What a state licence gives that a Union Licence does not
A licence from Curaçao, Malta or Gibraltar is a licence of a state. That state, and others that rely on it, treat its holder as authorised. A Union Licence is the Union's: it is recognised within the Union and its Digital Realm, not by any state.
So the Union suits businesses that operate online and settle in Bitcoin, USDT or other digital currencies, and that build trust with their customers directly: through a public register, a signed licence and a deposit customers can claim from. A business that needs a state's licence where it operates holds that too; the two are not exclusive.