Regulation of finteсh in Belgium 2021
Before registering a business it is recommended to familiarize with the regulation of fintech in Belgium in 2021. To learn more about the nuances of opening a company, please contact our specialists at IT-OFFSHORE, we will help you find the answer to all your questions.
Licensing laws and regulations
Fintech in Belgium is regulated by FSMA and NBB. When planning to register a business in this area, a license to provide financial services is required. This requirement applies to fintech companies in Belgium in 2021, which specialize in issuing loans, as well as exchange and investment firms, insurance companies working with electronic money.
When planning to open a P2P platform at the block-office, it is important to bear in mind that currently the country does not allow consumer credit platforms. It is possible to use the indirect lending model.
Entrepreneurs who plan to open small payment institutions and apply for licences must apply as a payment institution. Financial institutions that have payment accounts should provide access to information on customer accounts free of charge.
Features of opening a company
Registration of the fintech company in Belgium allows businesspeople to open new markets for themselves. This country is recognized as one of the most stable and promising in the European Union.
Among the general requirements is a minimum amount of authorized capital, no need to hire a secretary. Having opened a company in the country, it is possible to obtain a residence permit in the future. The country has concluded agreements with many jurisdictions on avoidance of double taxation.
To work in the direction of financial institutions, you need to obtain a licence. The most popular area of development is considered consumer credit. Consumer becomes any individual who acts for purposes not related to business or trade.