Published: 02.11.2023.
On November 1, the Supervisory Committee of the Bank of Latvia decided to issue SE “Capitalia” with an operating permit as a provider of collective financing services in accordance with Regulation no. 2020/1503.
SE “Capitalia” is registered in the register of crowdfunding service providers with the right to facilitate the granting of loans.
Simultaneously with receiving the operating permit, SE “Capitalia” has expressed its intention to provide crowdfunding services also across the border or in other European Union countries.
On providing crowdfunding services
A crowdfunding service provider is a company that maintains an online platform that brings together investors and companies that want to raise business finance and propose a project to be financed.
In order to provide crowdfunding services, the company must obtain an operating permit in accordance with the unified regulation of the European Union – Regulation no. 2020/1503. The regulation is applied from November 10, 2021, and the transition period ends in November this year, during which crowdfunding platforms that started working before the adoption of the single regulation of the European Union must adapt to the new requirements and receive operating permits issued by supervisory authorities.
The unified regulation of crowdfunding services provides the providers of this service with equal opportunities in the countries of the European Union, regardless of the country in which the service provider received an operating permit, that is, cross-border operation is possible (passporting).
Latvijas Banka maintains on its website the national register, which includes crowdfunding service providers that have received an operating permit in Latvia. On the other hand, a comprehensive register of European Union crowdfunding service providers is maintained by the European Securities and Markets Authority, which publishes it on its website. In this in the register information is included both on the services that the particular service provider is entitled to provide and also on the Member States in which it can operate.
Entrepreneurs who want to receive a crowdfunding service provider operating permit in Latvia should apply to the Bank of Latvia. Latvijas Banka provides entrepreneurs with support and consultations throughout the process of obtaining an operating permit. More information on obtaining an operating permit can be found in the licensing guide on the website of the Bank of Latvia.
2023-11-02 08:11:35
#Latvijas #Banka #issues #Capitalia #collective #financing #service #provider #operating #permit
