ECSPR: European Crowdfunding Service Providers Regulation
Regulation (EU) 2020/1503, the ECSPR, is the EU licence for business crowdfunding platforms. Those platforms offer loans or securities for projects of up to EUR 5 million a year per project owner. An authorised provider needs prudential safeguards of at least EUR 25,000, and it can passport the platform across the EU.
At a glance
| Official title | Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European crowdfunding service providers for business1 |
|---|---|
| English title | European Crowdfunding Service Providers Regulation |
| Citation | Regulation (EU) 2020/1503 |
| Jurisdiction | European Union (applies in every EU/EEA state) |
| Type | regulation |
| Adopted | 2020-10-07 |
| In force from | 2020-11-09 |
| Status | In force; applies from 10 November 2021 (transitional period ended 10 November 2023) |
Full text
Official full text: European Crowdfunding Service Providers Regulation (PDF, en)1 · 857 KB · file checked 2026-09-24
Official page: eur-lex.europa.eu1
Summary
One licence covers crowdfunding platforms across the EU. The ECSPR applies where a platform brings businesses seeking funding together with investors, through loans or transferable securities, for offers of up to EUR 5 million per project owner over 12 months. Authorised providers meet prudential, governance and investor-protection requirements, among them a key investment information sheet and an entry knowledge test for non-sophisticated investors. Their services can be passported across the EU.
Summary written by the Atlas from the official text; the law itself prevails.
Main articles
- Art. 1: Scope: each project owner may raise up to EUR 5 million over 12 months.
- Art. 11: Prudential safeguards. The provider holds whichever is higher, EUR 25,000 or a quarter of fixed overheads.
- Art. 12: The licence itself: authorisation as a crowdfunding service provider.
- Art. 18: Providing crowdfunding services across borders.
- Art. 23: The key investment information sheet.
Licences it governs
- FM · Cyprus
Alternative Investment Fund Manager (AIFM) authorisation
CySEC
- FM · Cyprus
Sub-threshold Alternative Investment Fund Manager registration
CySEC
- FM · Cyprus
UCITS Management Company authorisation
CySEC
- FM · Czech Republic
Sub-threshold Alternative Investment Fund Manager registration
Sub-threshold Alternative Investment Fund Manager registration pursuant to Section 15 of AMCIFCNB
- FM · Czech Republic
Investment Company / Fund Manager licence
CNB
- FM · Estonia
Small fund manager registration without activity licence
FI
- FM · Estonia
Operating licence as a fund management company
FI
- FM · Spain
Fund manager licence (SGIIC)
CNMV
- FM · France
Portfolio management company authorisation
AMF
- FM · Ireland
Alternative Investment Fund Manager (AIFM) Authorisation/Registration
CBI
- FM · Ireland
UCITS Management Company Authorisation
CBI
- FM · Luxembourg
Alternative investment fund manager (AIFM) authorisation
CSSF
- FM · Luxembourg
Management company authorised
Management company authorised under Chapter 15 of the Law of 17 December 2010CSSF
- FM · Netherlands
Alternative Investment Fund Manager (AIFM) licence
Alternative Investment Fund Manager (AIFM) licence under Wft Article 2:65 and Directive 2011/61/EUAFM
- FM · Netherlands
Fund manager licence
Undertakings for Collective Investment in Transferable Securities (UCITS / ICBE) registration under Wft and Directive 2009/65/ECAFM
- FM · Poland
Investment Fund Company licence
KNF
- FM · Poland
Alternative Investment Company Manager registration / licence
KNF
- Credit · Cyprus
European Crowdfunding Service Provider authorisation
CySEC
- Credit · Czech Republic
Non-bank Consumer Credit Provider licence
CNB
- Credit · Czech Republic
Crowdfunding Service Provider authorization
Crowdfunding Service Provider authorization under ECSPRCNB
- Credit · Estonia
Authorisation as a crowdfunding service provider
Authorisation as a crowdfunding service provider under ECSPRFI
- Credit · Spain
European crowdfunding service provider authorization
CNMV
- Credit · France
European crowdfunding service provider authorization
AMF
- Credit · Ireland
Crowdfunding Service Provider Authorisation (ECSPR)
CBI
- Credit · Italy
European crowdfunding service provider authorization (ECSPR)
CONSOB
- Credit · Lithuania
Crowdfunding service provider authorization
LB
- Credit · Luxembourg
Crowdfunding service provider authorisation
CSSF
- Credit · Latvia
Crowdfunding service provider authorization
LB
- Credit · Netherlands
European Crowdfunding Service Provider (ECSPR) authorisation
European Crowdfunding Service Provider (ECSPR) authorisation under Regulation (EU) 2020/1503AFM
- Credit · Poland
Crowdfunding Service Provider authorization
Crowdfunding Service Provider authorization under ECSPRKNF
- Credit · Poland
Lending Institution registration
KNF
- Credit · Slovakia
Crowdfunding service provider authorisation
Crowdfunding service provider authorisation under ECSPRNBS
Regulators that apply it
- Netherlands
Authority for the Financial Markets (AFM)
The Autoriteit Financiële Markten (AFM) is the Netherlands' autonomous conduct-of-business supervisory authority (zelfstandig bestuursorgaan
- France
Financial Markets Authority (AMF)
The Autorité des marchés financiers (AMF) is France's independent financial markets authority. It protects savings invested in financial pro
- Lithuania
Bank of Lithuania (LB)
Lietuvos bankas, the Bank of Lithuania, is the central bank of the Republic of Lithuania and a member of the Eurosystem. It supervises credi
- Ireland
Central Bank of Ireland (CBI)
The Central Bank of Ireland is Ireland's central bank and its integrated financial conduct and prudential regulator, within the Eurosystem a
- Czech Republic
Czech National Bank (CNB)
The Czech National Bank acts as the central bank and unified supervisory authority of the Czech financial market under Act No. 6/1993 Coll.
- Spain
National Securities Market Commission (CNMV)
The National Securities Market Commission is the Spanish agency responsible for supervising and inspecting secondary securities markets, inv
- Italy
National Commission for Companies and the Stock Exchange (CONSOB)
CONSOB is Italy's independent administrative authority tasked with safeguarding investor protection, market transparency, fair conduct among
- Luxembourg
Commission de Surveillance du Secteur Financier (CSSF)
The CSSF is Luxembourg's unified public supervisory authority for the financial centre. It carries out prudential supervision and market con
- Cyprus
Cyprus Securities and Exchange Commission (CySEC)
The Cyprus Securities and Exchange Commission is the independent public supervisory authority responsible for the regulation and supervision
- European Union
European Securities and Markets Authority (ESMA)
ESMA operates as an independent European Union supervisory authority that protects the public interest by contributing to the stability and
- Estonia
Finantsinspektsioon (FI)
Finantsinspektsioon is Estonia's independent financial supervision and crisis resolution authority operating with autonomous responsibilitie
- Poland
Polish Financial Supervision Authority (KNF)
KNF ensures the proper functioning, stability, security, and transparency of the Polish financial market, safeguards public confidence in fi
- Latvia
Latvijas Banka (LB)
Latvijas Banka is the central bank of the Republic of Latvia and a member of the Eurosystem. It has stood as the single integrated financial
- Slovakia
National Bank of Slovakia (NBS)
Národná banka Slovenska is the central bank and integrated financial supervisor of the Slovak Republic. Price stability and financial system
Sources
- EUR-Lex: CELEX 32020R1503 · retrieved 2026-09-24
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