The Citizenergy team has just released its latest review of the legal environment for crowdfunding in six different countries. The review covers legal conditions for crowdfunding in France, Germany, Portugal, Spain, the United Kingdom and the Netherlands and has been updated regularly since 2014.

Since 2014, crowd-based investment in renewable energy garnered increasing attention of policy makers across Europe. Whereas some of the countries reviewed lacked a legal framework for crowdfunding in 2014, the report finds that crowdfunding is ever more being regulated at a national level with several Member States recently adopting or discussing specific crowdfunding legislation.

These developments give more legal certainty to the field and enable crowdfunding platforms to grow at the national level. Unfortunately, these fail to create a framework for cross-border investment. Many of the new national rules hinder growth of the crowdfunding market on a European level.

Online legal review | Full report (pdf)