Licensing and approval proceedings - crowdfunding service providers
The conditions for the operation of crowdfunding service providers are laid down in Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European crowdfunding service providers for business, and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937 (hereinafter also referred to as the “Crowdfunding Regulation”), some requirements of which are further detailed in regulations supplementing the Crowdfunding Regulation and implementing regulations laying down implementing technical standards for the application of the Crowdfunding Regulation. Authorisation proceedings are also governed by national legislation, most notably Act No. 500/2004 Coll., the Administrative Procedure Code, as amended, Act No. 256/2004 Coll., on Capital Market Undertakings, as amended, and Act No. 634/2004 Coll., on Administrative Fees, as amended.
Selected European Union legislation
- Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 (external link) on European crowdfunding service providers for business, and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937
- Commission Delegated Regulation (EU) 2022/2112 of 13 July 2022 (external link) supplementing Regulation (EU) 2020/1503 of the European Parliament and of the Council with regard to regulatory technical standards specifying requirements and arrangements for the application for authorisation as a crowdfunding service provider
Official information, methodological documents
- Official Information of 5 August 2020 (pdf, 173 kB) regarding the interpretation of the terms trustworthiness and competence – please read this Official Information of the Czech National Bank before filling in the trustworthiness assessment form
Contact point for the purposes of submitting applications
The Czech National Bank has set up a contact point for receiving all information from persons who wish to apply for authorisation as a crowdfunding service provider
- Competent authority: Czech National Bank
- Contact point: Investment Firms Supervision Division
- Address: Senovážná 3, 115 03 Prague 1
- Phone number: 224 411 111
- E-mail: email@example.com
- Data box ID: 8tgaiej
The above contact information should be used primarily for the purposes of communication regarding the submission of applications (see below for the submission of applications). Any regulatory queries should be sent in using the relevant form. Before submitting an application, those interested in authorisation to provide crowdfunding services may ask the CNB for a preliminary consultation through the above contact point.
Applications may be submitted in paper or electronic form. For practical reasons, submitting an electronic form using a data box is preferred.
Applications can be submitted in electronic form:
- from the data box of the applicant (or their authorised representative) to the data box of the Czech National Bank (ID: 8tgaiej)
- by sending an e-mail to firstname.lastname@example.org signed by the applicant or their authorised representative with a recognised electronic signature (an advanced electronic signature based on a qualified certificate for electronic signatures or a qualified electronic signature).
Form and essential elements of application
The essential elements of an application for authorisation to provide crowdfunding services (hereinafter referred to as the “application”) are laid down in Article 12 of the Crowdfunding Regulation together with Commission Delegated Regulation 2022/2112 (external link) to which the standard form is annexed.
The application should include:
- all information relevant to the applicant as required by the standard form set out in the annex to Commission Delegated Regulation 2022/2112 (external link) .
- the form for assessment of the trustworthiness of natural persons – in Czech only (doc, 37 kB) (pdf, 363 kB).
Administrative fee for submitting applications
Item 65(4)(d) of the list of administrative fees, which forms an annex to Act No. 634/2004 Coll., on Administrative Fees, as amended, stipulates the duty to pay an administrative fee of CZK 20,000 for the application.
The fee is due on receipt of the application. To speed up the authorisation process, the CNB recommends that applicants pay the relevant administration fee at the same time as submitting the application and provide information about the payment in the application (for example by attaching proof of payment).
The administrative fee can be paid in cash at the CNB’s cash offices or direct to the CNB’s account (86-69193891/0710). The applicant’s ID number should be used as the variable symbol. The fee cannot be paid by affixing stamps.