Hi all.
I'm trying to understand how to arrange the legal side of the crowdfunding company. I wrote to many law firms around the world, but received negative feedbacks mostly everywhere.
I will really appreciate if you can advise me ways to solve this problem if you know how to.
It's a good question with no answer (yet). The SEC will write regulations later this year that will hopefully clarify the exact requirements for crowdfunding efforts.
Even if we already had the regulations, I'd still have to know whether you are forming a corporation that
1. will sell its own shares, raising money to fund its activity unrelated to crowdfunding, or
2. will act as a storefront for other companies, helping them sell their shares (a bit like Kickstarter or IndieGoGo do now, except not in exchange for shares).
The rules are different for each, and it's not clear which one you mean.
DISCLAIMER: This isn't legal advice. This is just meant to be helpful.
Gerrit,
the 2nd point describes our activity.
I've been told that some European countries may allow to keep such activities without obtaining the financial licenses, but I still can't find proof of that.
It's a good question with no answer (yet). The SEC will write regulations later this year that will hopefully clarify the exact requirements for crowdfunding efforts.
Even if we already had the regulations, I'd still have to know whether you are forming a corporation that
1. will sell its own shares, raising money to fund its activity unrelated to crowdfunding, or
2. will act as a storefront for other companies, helping them sell their shares (a bit like Kickstarter or IndieGoGo do now, except not in exchange for shares).
The rules are different for each, and it's not clear which one you mean.
DISCLAIMER: This isn't legal advice. This is just meant to be helpful.
I am happy to help answer questions. Please feel free to shoot me an e-mail at mtate@clilaw.com
Marty
Gerrit,
the 2nd point describes our activity.
I've been told that some European countries may allow to keep such activities without obtaining the financial licenses, but I still can't find proof of that.
I can't understand one thing - there are many existing platforms with the same activity - how did they pass the incorporation?