Role of alternative finance
Data available for the year 2016 only. So far the transaction value in the P2P segment amounts to US$10.5m in 2016.
There is no data available for this period. However, transaction Value is expected to show an annual growth rate of 27.7 %.
Within the last year, as many as five P2P consumer lending platforms were launched in Lithuania.
5 active platforms (only P2P consumer lending).
The platforms are:
- Savy.lt, a P2P consumer lending platform launched in 2014.
- FinBee, an P2P consumer lending platform launched in 2015.
- Paskolų Klubas, a P2P consumer lending platform launched in 2015.
- Manu, a P2P consumer lending platform launced in 2016.
- Optimalus Kreditas (OK), a P2P consumer lending platform launched in 2015.
(source: Tomas Talutis (2016), Regulation on crowdfunding in the Republic of Lithuania. http://www.tvinslaw.com/finansines-paslaugos-ir-reguliavimas-en/regulati...)
Lithuania has no equity based or P2P lending based crowdfunding platforms, except for P2P consumer lending platforms.
|Reward and donation-based crowdfunding||
Crowdfunding platforms based on donations or rewards models could operate in Lithuania without any major regulatory burden. Nevertheless, Lithuania has no donation or rewards based platforms.
EUR 10 million has been raised on P2P consumer lending platforms by December 2016.
Within the last year, as many as five P2P consumer lending platforms were launched in Lithuania. An amended Law on Consumer Credit came into force on the 1st of February 2016. A draft Crowdfunding Law has also been adopted.
The operator has the right to engage in lending crowdfunding activities after being included in the public list of crowdfunding platforms operators.
(Expert opinion: Vytautas Šenavičius in http://www.crowdfundinsider.com/2016/11/92020-lithuania-approves-bespoke... )
|Is there a specific national regulation in place applying to crowdfunding?||
A new Law on Crowdfunding has been approved in Lithuania. It enters into force from the 1st of December 2016.
1. A legal entity (though sometimes without such status) may be an operator of a crowdfunding platform. The operator of a crowdfunding platform must be located in the Republic of Lithuania, except for the cases where entities established in other Member States, in accordance with the legal acts, are entitled to act as intermediaries in forming transactions for financing without having registered their address in the Republic of Lithuania or with their branches established in the Republic of Lithuania.
Moreover, requirements to start crowdfunding activities, prudential requirements for platform operators, and requirements for the provision of crowdfunding services currently exist.
No additional requirements related to raising funds apply to a financing transaction which is intended to raise an amount less than EUR 100,000 in 12 months.
Currently, matching funds, state aid or tax benefits for alternative finance are not available in Lithuania.
Ministry of Finance, https://finmin.lrv.lt/en/
|Matching funds initiatives|
|Crowdfunding guidelines for entrepreneurs / investors|
|Guidelines for researchers on crowdfunding for R&I|
Restrictions for the maximum amount to be invested do not apply to investors. The Bank of Lithuania drafted implementing acts in November 2016. In October 2016, the Lithuanian Government amended laws establishing client identity verification methods. The amendments establish additional methods for remote identification.