Who grants the license?
Czech National Bank
Who needs a license?
A person providing investment crowdfunding services, mainly operators of specialized internet platforms. Their business model is usually to match the interests of investors and project owners to raise money for a business that includes some of these activities:
-
enabling the providing of credits
- placement of transferable securities and instruments accepted for group financing purposes issued by project owners or a special purpose vehicle (SPV)
The subject of financing is typically participations in loans and investment SPV's, if their underlying assets are illiquid or difficult to divide.
The legislation is contained in Regulation 2020/1503 of the European Parliament and of the Council on European crowdfunding service providers for business ("Crowdfunding Regulation").
License is not necessary for cowdfunding services that are provided to project owners who are consumers, for charity crowdfunding, nor for crowdfunding offers with a consideration of more than EUR 5 million.
What will we do for you?
- we will assign a personal project manager to you, who will guide you through the entire licensing process
- we will draw up an application and all attachments according to the Crowdfunding Regulation
- we will draw up complete internal regulations and procedures, including operational risk management regulations
- we will prepare a business plan including a trading forecast in the form of financial statements and strategy for the development of the business activity
- we will set up appropriate organisation of internal operation
- we will set up internal management and control systems
- we will draw up measures to combat money-laundering (AML/CFT)
- we will ensure that compliance and any reporting to the Czech National Bank
- once you have your license, we will be ready to regularly help you with regulation, internal auditing, or dealing with the Czech National Bank and other regulatory bodies
- turnkey compilation of all documents takes 1 to 2 months
What will we need from you to do all this?
- information about the way of services you want to provide and how you will fulfill information obligation towards investors (key information for investors)
- information about senior management
- information about persons having a qualifying holding and the ultimate owner
- proof of the transparent origin of the starting (registered) capital
- other information depending on the type of services and the scope of the application
Who have we already arranged a licence for?
We have already arranged a licence for upvest, ZFP Payment, BANKERAT. You will find other references here.
How much will it cost?
The price depends on the complexity and scope of the licence. You will receive a detailed written offer from us following a telephone or personal consultation.
We will arrange the license for you.
