You can see the rules and regulations in other jurisdictions.
In what concerns crowdfunding platforms, Portuguese law sets out requirements and conditions applicable to the corporate entities managing these platforms, which are subject to the CMVM's supervision when they are either collaborative equity-based or loan-based platforms. These management entities of crowdfunding platforms are subject to prior registry and authorisation with the CMVM. Their application must be accompanied by the required documentation, which includes the entity's corporate details, structure and beneficial ownership, the managers' identification and fit and proper documentation, business plan and model, and an indication of whether it should be considered a financial intermediary or an agent thereof, as well as evidence of compliance with the minimum financial requirements. Minimum financial requirements are either (1) a minimum share capital of €50,000; (2) an insurance policy covering a minimum of €1 million per claim, and a minimum of €1.5 million in aggregate claims per year; or (3) a combination of both (1) and (2) that ensures proper similar coverage.1
Crowdfunding schemes are gaining some traction. There are now six management entities of crowdfunding platforms registered with the CMVM, the majority of which operate in the loan-based platforms sector. Further developments may arise in this field following the entry into force of the Regulation on European Crowdfunding Service Providers for Business and as the market develops and market players become more sophisticated and numerous, in which case movements towards the securitisation of loan portfolios originating from these platforms may begin to be noticed in the medium to long term.1
Notwithstanding, current securitisation law (Decree Law No. 453/99, as amended) defines which entities may qualify as originators of receivables for securitisation purposes and these are currently limited to the Portuguese state and other public legal persons, credit institutions, financial companies, insurance firms, pension funds and pension fund management companies. However, entities that have their accounts of the previous three years legally certified by an auditor registered with the CMVM may also assign loans for securitisation purposes; this may open the door to crowdfunding entities being able to enter into securitisation and other structured finance transactions, which were traditionally reserved to banks and other incumbents. Nevertheless, owing to the nature of the entities resorting to crowd-lending platforms for funding, as well as those managing the platforms, the movement towards securitisation may still take some time.1
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You can launch your platform by paying $5000 initially and the rest after 6 months if your business grows