<p>This article investigates the institutional conditions for establishing geoparks in karst regions of Minas Gerais, Brazil. Focusing on territories characterized by overlapping regulations and fragmented multi-level governance, the study identifies ten key variables through a territorial diagnosis and stakeholder analysis. These variables were assessed using a cross-impact matrix, which allowed the identification of three critical drivers for geopark development: financial resources from mining-related mechanisms (Financial Compensation for Mineral Exploration (CFEM) and speleological compensations), technical-scientific support, and potential for UNESCO nomination. These drivers informed the construction of four contrasting institutional scenarios. The analysis draws on principles of multi-scalar governance and is informed by the socio-ecological systems framework, although this approach was not fully operationalized. The Causses du Quercy Geopark (France) serves as a comparative reference. Findings indicate that successful geopark creation in Brazilian karst areas depends less on adopting fixed models and more on the capacity to articulate actors, instruments, and governance scales. When supported by coordinated and inclusive governance, the strategic layering of existing regulatory frameworks may promote territorial integration and geoheritage valorization.</p>