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NCFM developed the regulatory framework on crowdfunding, with the support of the "Strong Businesses and Communities for Moldova" project, financed by the German Government and implemented by GIZ Moldova

  • 16.05.2024
  • 812

The business environment in the Republic of Moldova, especially small and medium enterprises (SMEs) is in need of a more accessible and flexible financing alternative than banking, using crowdfunding platforms. A law in this sense was voted on July 7, 2023 (Law no.181/2023). According to the law, the National Commission for Financial Market (NCFM) authorizes, regulates and supervises the activity of crowdfunding service providers. 

Crowdfunding is a new financial instrument for the Republic of Moldova, that represents a way of attracting financial resources for a specific business project, through an electronic crowdfunding platform that works, mainly, on the principle of a stock exchange. 

In this sense, crowdfunding can be seen as a new business model that uses technological innovations and offers to start-ups and small and medium-sized enterprises (SMEs), at any stage of development, an alternative financing tool by connecting investors directly with the business environment. 

This financial instrument will allow citizens to invest their available resources in business projects. Transactions will take place on digital platforms and through secure means of identification, which will lead to the avoidance of bureaucratic procedures. 

Also, the crowdfunding platforms will allow the intermediation of loans for individuals, who have the right to benefit from consumer financing projects in the maximum amount of 7,500 Euro. 

The „Strong Businesses and Communities for Moldova” project was actively supporting NCFM in the process of development and approval of the regulation for crowdfunding in Moldova. The draft law, as well as subordinated normative acts were developed, consulted, and finalized with the above-mentioned project support. 

The approved draft law is part of the measures for the development of financial instruments promoted by the Government and NCFM. The law entered into force on March 1, 2024. 

This activity was provided with the support of "Strong Businesses and Communities for Moldova" project, financed by the German Government and implemented by GIZ Moldova.

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