Fornitore di servizi di crowdfunding / European crowdfunding service provider authorization (ECSPR) (Italy)
The Fornitore di servizi di crowdfunding / European crowdfunding service provider authorization (ECSPR) is issued by National Commission for Companies and the Stock Exchange (CONSOB) under Regulation (EU) 2020/1503 on European crowdfunding service providers (ECSPR). It can be passported to the other EU/EEA states by notification. The legal decision period is 3 months from receipt of a complete application (following a 25 working-day completeness review). Ownership changes need the regulator's approval before completion.
At a glance
| Official name | Fornitore di servizi di crowdfunding / European crowdfunding service provider authorization (ECSPR)1 |
|---|---|
| Issued by | National Commission for Companies and the Stock Exchange |
| Jurisdiction | Italy |
| Licence family | Lending / consumer credit |
| Legal basis | Regulation (EU) 2020/1503 on European crowdfunding service providers for business (ECSPR)2 |
| Passporting | EU/EEA passport available |
| Annual fee | EUR 10,375.00 for investment-based crowdfunding service, EUR 10,375.00 for lending-based crowdfunding service (+ EUR 10,375.00 if managing loan portfolios)3 |
| Statutory decision time | 3 months from receipt of a complete application (following a 25 working-day completeness review)2 |
What it lets you do
- Crowdfunding services. Matching business funding interests of investors and project owners through a platform, by facilitating loans or placing securities.
Where it is valid
Cost
How long it takes
Statutory: 3 months from receipt of a complete application (following a 25 working-day completeness review)2. Observed: not published. The statutory clock usually starts only when the regulator treats the application as complete, and pauses while it waits for answers to its questions.
Buying a company that already holds it
Prior notification with an objection period. Under Article 15 of Legislative Decree 58/1998 (TUF) and Articles 83-84 of Regulation (EU) 2023/1114 (MiCA) as implemented by Legislative Decree 129/2024, any natural or legal person intending to acquire or dispose of a qualifying holding reaching or crossing 10%, 20%, 30%, or 50% of capital or voting rights, or gaining/losing control of a SIM or CASP, must give prior written notification. For SIMs, notification is submitted to Banca d'Italia (which conducts the prudential assessment, consulting CONSOB) with copy to CONSOB; for CASPs, competent authorities conduct the suitability and AML review within a 60 working-day assessment window (interruptible once by up to 20 working days). Unauthorised acquisitions automatically forfeit voting rights and risk statutory sanctions.4
Laws behind it
- European Crowdfunding Service Providers Regulation: Regulation (EU) 2020/1503
Sources
- consob.it: crowdfunding platform providers · retrieved 2026-09-24
- eur-lex.europa.eu: HTML (32020R1503) · retrieved 2026-09-24
- consob.it: d23799 en 1 · retrieved 2026-09-24
- gazzettaufficiale.it: sg · retrieved 2026-09-24
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