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Registering a FinTech company in Belgium is a quite popular practice among foreign & domestic entrepreneurs. If you’re planning on opening a business in this country or require an individual consultation on anything FinTech-related, you’ll definitely benefit from the below information. 

Legislative Framework & Licensing

The two main financial authorities - FSMA & NBB - are charged with overseeing provision of fintech services in the Kingdom of Belgium. To register a FinTech company in the Kingdom of Belgium, entrepreneurs must obtain a financial services license. Here’s a short list of institutions requiring a license to conduct their operations:

  • insurers & reinsurers;
  • lending institutions;
  • managers of IFs;
  • providers of e-money services;
  • insurers & reinsurers;
  • providers of payment services.

Opening a FinTech company in Belgium requires bearing in mind the following:

  • Accepting deposits from the general public in the Kingdom of Belgium is the exclusive prerogative of lending institutions.
  • Commercial lending doesn’t require licensing; however, there’s special rules for SMEs.
  • The 2018 Act regulates obtaining a payment services license & launching a payment system in Belgium.

providing all kinds of investment-related services requires a license.

Those looking to set up an investment fund or establish an AIF in the Kingdom of Belgium are required to ensure compliance with two directives - the UCITS & AIFMD. Intermediaries providing banking, investment, consumer finance & insurance services must also adhere to the local legislation.

Regulation of P2P & Crowdfunding

Those contemplating registering a crowdfunding platform in the Kingdom of Belgium or launching a P2P blockchain-powered platform should keep in mind this important information:

  • Currently, P2P lending platforms aren’t allowed in the Kingdom of Belgium. As an alternative, you can use the indirect lending model which requires obtaining FSMA’s approval;
  • Launching a crowdfunding campaign in Belgium requires compliance with the Law on  Crowdfunding Platforms. All crowdfunding platforms must get FSMA authorization. Projects worth in excess of three hundred thousand euros ( the project itself) & sixty five thousand euros (the amount spent by the investor) require a prospectus.

Regulation of payment services provision & banking

Obtaining a license authorizing provision of financial services in Belgium requires keeping in mind this important information:

  • The country’s main piece of legislation governing provision of payment services & PSD2 in Belgium is the 2018 Act. All institutions involved in that kind of activities must be registered as providers of payment services;
  • Financial entities having “payment accounts” must ensure 3rd partyy providers of payment services have free access to information about their customers’ accounts.

Registering a FinTech business in Belgium requires potential investors to be intimately familiar with the intricacies of Belgian legislation. Therefore, we strongly recommend that they sign up for an individual consultation on FinTech regulation in the Kingdom of Belgium with IQ Decision UK. Our legal advisors will also be happy to assist them in registering FinTech companies & licensing all kinds of business activities there.