The MPs adopted the draft law on crowdfunding after giving it a final reading. This way, online platforms that will bring together investors and persons who need financial resources could be registered in Moldova as from next year, IPN reports.
The bill stipulates the general rules for providing participatory financing services (crowdfunding) on Moldova’s territory, the general and special requirements for all the categories of participants in these legal and economic relations: provider, investor, developer.
Provider of participatory financing services can be a legal entity founded as a limited liability company or as a joint stock company registered in Moldova, which was authorized to provide participatory financing services. Developer is a private individual who practices entrepreneurial activities or a lucrative legal entity registered in Moldova, which intend to obtain financing for a project through a crowdfunding platform. Investor can be any private individual or legal entity that offers loans or purchases shareholdings in a participatory financing project.
The final goal of the legislative initiative is to promote the sustainable development of small and medium-sized enterprises by improving the legal and economic environment, ensuring and enhancing the competitiveness and performance of SMEs, creating an attractive investment climate.
The law takes effect on January 1, 2024.
