Best Fintech Lawyers in Hasselt

About Fintech Law in Hasselt, Belgium

Hasselt is a growing technology hub in Flanders with an active startup ecosystem around the Corda Campus and the University of Hasselt. Fintech ventures in Hasselt operate under Belgian national law and EU law, with supervision by Belgian regulators. The National Bank of Belgium handles authorization and prudential supervision for many payment and e-money activities, while the Financial Services and Markets Authority oversees conduct of business rules, investor and consumer protection, market integrity, crowdfunding, and several crypto related rules.

Because Belgium is an EU member, many core fintech topics such as payments, e-money, open banking, crowdfunding, market abuse, operational resilience, and crypto assets are governed by EU regulations and directives that apply in Hasselt. Most compliance rules are national or EU wide rather than city specific, but local factors matter, including language requirements for consumer communications in Dutch for the Flanders market and the availability of local innovation and funding programs.

Common fintech activities in Hasselt include payment initiation and account information services, e-money wallets, buy now pay later and other credit products, investment and robo advisory tools, crowdfunding platforms, crypto and tokenization projects, regtech services, and data driven financial platforms. Each activity has a distinct regulatory perimeter, licensing or registration path, and compliance obligations.

Why You May Need a Lawyer

Licensing and structuring - You may need advice to determine whether your model is a payment service, e-money issuance, investment service, crowdfunding, or a technical service provider outside the regulated perimeter. A lawyer can help you choose between full authorization, acting as an agent or distributor of an existing institution, or relying on a narrow exemption with proper notifications.

Product and compliance design - Building compliant user journeys for onboarding, strong customer authentication, disclosures, chargebacks, complaints handling, and safeguarding of client funds often requires detailed legal input aligned with regulator guidance.

Crypto and tokenization - Belgium requires certain crypto service providers to register with the FSMA for anti money laundering purposes, and EU level MiCA imposes new authorization and disclosure duties. Legal counsel can map current and upcoming obligations and manage transitions.

Data protection and cybersecurity - GDPR and Belgian privacy rules affect consent flows, profiling, DPIAs, DPO appointments, cross border transfers, vendor due diligence, and incident response. DORA adds operational resilience obligations for many financial entities.

Contracts and platform governance - Payment services agreements, platform terms, embedded finance partnerships, outsourcing and cloud agreements, and API access arrangements need careful drafting to meet regulatory and commercial requirements.

Capital raising and marketing - Token or equity offerings, crowdfunding, and lending campaigns may trigger EU Prospectus Regulation, ECSP rules, or FSMA advertising standards. Pre launch legal checks can prevent enforcement issues.

Intellectual property and data use - Protecting software, algorithms, and data assets while complying with scraping, database, and trade secret laws benefits from tailored IP and data licensing strategies.

Employment and incentives - Hiring in Belgium involves local employment rules, confidentiality and non compete covenants, and equity or warrant incentive plans that must align with tax and company law.

Cross border expansion - Passporting an EU license into Belgium, or serving Belgian users from another EU country, raises host state conduct rules, language, consumer, and tax considerations.

Regulatory engagement and investigations - Communicating with the NBB or FSMA, responding to information requests, inspections, advertising file reviews, or remediation plans is safer with experienced counsel.

Local Laws Overview

Regulatory architecture - The National Bank of Belgium authorizes and prudentially supervises payment institutions, e-money institutions, and payment systems. The Financial Services and Markets Authority oversees conduct of business and markets, approves prospectuses for public offers in Belgium, authorizes crowdfunding service providers, enforces advertising rules for financial products and crypto, and manages registration of certain virtual asset service providers. Local courts and the Ombudsfin scheme handle consumer disputes, and EU authorities such as the EBA and ESMA issue guidelines that Belgian regulators apply.

Payments and e-money - PSD2 is implemented in Belgium, including strong customer authentication requirements and secure communication standards. The Law of 11 March 2018 and related rules set authorization, capital, safeguarding, governance, and outsourcing obligations for payment and e-money institutions. Agents and distributors must be registered. Certain narrow exclusions such as the limited network or limited range of goods exemption exist but typically require notification to the National Bank of Belgium and careful scoping.

Open banking - Account information service providers and payment initiation service providers require authorization or registration and must meet operational, insurance, and security requirements. Banks must provide access to payment accounts through dedicated interfaces that meet availability and performance standards. User consent and data minimization are central compliance themes.

Crypto and digital assets - Belgium requires providers of exchange services between virtual and fiat currencies and custodial wallet providers operating in Belgium to register with the Financial Services and Markets Authority for anti money laundering supervision. The FSMA also enforces rules on marketing of virtual currencies to consumers, including risk warnings and pre notification for large campaigns. At EU level, the Markets in Crypto Assets Regulation introduces authorization for crypto asset service providers and whitepaper obligations for certain issuances. Stablecoin rules started applying first, with other MiCA obligations phasing in afterward. The EU recast Transfer of Funds Regulation extends travel rule requirements to crypto transfers.

Anti money laundering - The Belgian AML law requires risk based customer due diligence, identification and verification, beneficial owner checks, monitoring, screening against sanctions, and reporting of suspicious transactions to the Belgian Financial Intelligence Processing Unit known as CTIF CFI. Record keeping typically extends up to 10 years. Crypto transfers must include originator and beneficiary information in line with EU travel rule requirements.

Consumer and marketing law - The Code of Economic Law sets rules on fair commercial practices, required disclosures, distance contracts, and unfair terms. Distance marketing of financial services generally provides consumers a statutory withdrawal right with product specific exceptions. Advertising must be clear, balanced, and not misleading. Additional sector specific rules apply to credit, investments, insurance, and crypto communications.

Data protection and privacy - GDPR and the Belgian Act of 30 July 2018 govern lawful processing, transparency, data subject rights, profiling, DPIAs, DPO appointments, and cross border transfers. Security measures and breach notification to the Belgian Data Protection Authority and affected users within statutory timelines are critical. Fintechs commonly use itsme and eID for compliant remote onboarding and strong authentication.

Crowdfunding - The EU Regulation on European Crowdfunding Service Providers allows platforms authorized by the FSMA to operate EU wide with standardized disclosures, investor testing, and protections. Offers up to 5 million euro over 12 months per project owner can qualify under the regime, subject to detailed requirements.

Cybersecurity and operational resilience - The EU Digital Operational Resilience Act applies from 2025 to many financial entities such as payment and e-money institutions, with rules on ICT risk management, incident reporting, testing, third party risk, and oversight of critical ICT providers. Belgium also implements EU network and information security rules for essential and important entities in critical sectors. The Centre for Cybersecurity Belgium issues guidance on good practice.

Capital markets and tokenized offerings - Public offerings or admissions to trading may trigger the EU Prospectus Regulation with FSMA review in Belgium. Market abuse rules apply to instruments admitted to trading on regulated venues. Tokenized instruments that qualify as financial instruments fall under existing MiFID, market infrastructure, and prospectus regimes.

Company law and governance - The Belgian Code of Companies and Associations offers flexible forms for startups. The BV is commonly used for fintechs because it has no minimum capital, customizable governance, and the ability to create different share classes. The NV suits larger ventures and regulated institutions. Notarial formation, registration with the Crossroads Bank for Enterprises, and filing of beneficial ownership information in the UBO Register are required.

Tax and accounting - VAT exemptions may apply to certain payment services and financial products, but careful scoping is needed. The tax treatment of crypto gains depends on individual circumstances such as normal management of private wealth, speculative activity, or professional trading. Maintain robust records and seek tailored tax advice. Belgian GAAP or IFRS may apply depending on the entity type and size.

Dispute resolution and complaints - Firms must maintain accessible complaint procedures, respond within required timelines, and cooperate with Ombudsfin where applicable. Consumer and small business disputes can be handled by the Enterprise Court. Arbitration and mediation are available by agreement.

Language and consumer materials - In Hasselt and the wider Flanders market, consumer facing documents are typically provided in Dutch. Regulators work in Dutch and French and often accept English for technical materials, but consumer communications should use the language of the target audience.

Frequently Asked Questions

Do I need authorization to run a payment app or wallet in Hasselt

If you provide regulated payment services such as money remittance, issuing payment instruments, executing credit transfers, or issuing e money, you generally need authorization as a payment institution or e money institution from the National Bank of Belgium, or you must act as an agent or distributor of an authorized institution. If you only provide technical services without holding client funds, you may fall outside the regulatory perimeter. Narrow exclusions such as the limited network or limited range of goods exemption may apply but usually require notification to the National Bank of Belgium and strict scoping.

What is the difference between the National Bank of Belgium and the FSMA

The National Bank of Belgium handles authorization and prudential supervision for payment institutions, e money institutions, and payment systems, focusing on capital, governance, safeguarding, and risk management. The Financial Services and Markets Authority handles conduct of business and markets, authorizes crowdfunding providers, registers certain crypto service providers for AML, oversees investment services conduct, approves prospectuses for Belgian public offers, and enforces advertising and consumer protection rules.

How does PSD2 affect my open banking or embedded finance product

PSD2 defines account information and payment initiation services, sets licensing or registration paths, and requires strong customer authentication and secure communications. If your product accesses bank account data or initiates payments, you likely need AISP or PISP authorization and must meet operational, security, and insurance requirements. Banks must provide APIs that meet availability and performance standards, and you must obtain explicit user consent and minimize data use.

What rules apply to crypto businesses now and under MiCA

Today, providers of exchange services between virtual and fiat currencies and custodial wallet providers operating in Belgium must register with the FSMA for AML supervision and comply with customer due diligence, monitoring, and reporting. Marketing of virtual currencies must include risk warnings and meet FSMA standards. Under MiCA, most crypto asset service providers will need EU authorization, meet capital and governance requirements, and comply with detailed conduct and safeguarding rules. Issuers of certain tokens must publish a compliant crypto asset whitepaper. Transitional arrangements may apply, so early planning is advisable.

Can I market fintech or crypto products to Belgian consumers

Marketing must be fair, clear, and not misleading. Financial promotions often have specific content rules and risk warnings. The FSMA imposes extra requirements on crypto advertising, including mandatory warnings and pre notification for large campaigns. If you offer credit, investments, or crowdfunding, additional advertising restrictions apply. Materials should be in Dutch if you target consumers in Hasselt and the wider Flanders market.

What anti money laundering obligations will my startup face

Obligations include a documented risk assessment, customer due diligence, identification and verification of customers and beneficial owners, PEP screening, sanctions screening, ongoing monitoring, record keeping for up to 10 years, staff training, and reporting suspicious transactions to CTIF CFI. Crypto transfers must carry originator and beneficiary information under the EU travel rule. Outsourcing KYC requires oversight and clear contractual controls.

How do GDPR and Belgian privacy rules affect my app

You must identify lawful bases for processing, provide transparent notices, respect access and deletion rights, limit data to what is necessary, secure data appropriately, and notify the Belgian Data Protection Authority and affected users of notifiable breaches within statutory timelines. Some models require a data protection impact assessment and a data protection officer. Cross border transfers need appropriate safeguards. Using itsme or eID can support secure onboarding and strong authentication.

I am licensed in another EU country - can I passport into Belgium

Many authorizations, such as payment institution, e money institution, and crowdfunding service provider authorizations, can be passported. Your home regulator notifies Belgian authorities, and you can serve Belgian customers once the passport is effective. You must still comply with Belgian host state conduct rules, consumer law, language requirements, AML expectations, and local tax obligations. Appointing a local contact point can be helpful.

Which company form suits a fintech startup in Hasselt

The BV is popular due to flexibility, no minimum capital, and customizable governance. The NV is suited to larger or highly regulated entities. Formation requires a notarial deed, registration with the Crossroads Bank for Enterprises, and beneficial owner filings in the UBO Register. Consider governance, share classes, investor rights, and employee incentive mechanics early.

What should my customer terms and platform policies cover

Key items include services and fees, payment execution timelines, liability and chargebacks, safeguarding and redemption for e money, strong customer authentication obligations, complaints handling and Ombudsfin access, AML related restrictions, acceptable use and account closure, data protection and cookies, and change notification processes. Consumer facing terms should be clear, balanced, and in the language of your target users.

Additional Resources

Financial Services and Markets Authority FSMA - Belgian markets and conduct supervisor, crypto marketing rules, VASP registration, crowdfunding authorization, prospectus control.

National Bank of Belgium NBB - Authorization and prudential supervision of payment institutions, e money institutions, and payment systems.

Belgian Data Protection Authority GBA APD - Regulator for GDPR and Belgian privacy law compliance.

Crossroads Bank for Enterprises KBO BCE - Central business register for company numbers and public filings.

Federal Public Service Economy - Consumer protection, company law, e commerce, and intellectual property administration.

Federal Public Service Finance - Tax, VAT, and UBO Register administration.

CTIF CFI - Belgian Financial Intelligence Processing Unit for suspicious transaction reporting.

Ombudsfin - Financial services ombudsman for customer complaints and dispute resolution.

Centre for Cybersecurity Belgium CCB - National authority for cybersecurity guidance and incident coordination.

VLAIO Flanders Innovation and Entrepreneurship - Grants, advice, and permits for startups and scale ups in Flanders.

LRM Limburg Investment Company - Regional investment support for Limburg based ventures.

Corda Campus Hasselt - Regional tech and fintech hub with incubators, workspaces, and networking.

European Banking Authority and European Securities and Markets Authority - EU guidance and technical standards that Belgian supervisors apply.

Next Steps

Step 1 - Map your business model. List every user journey and financial flow, who holds client funds, and where money and data move. This determines licensing, registration, or exemption paths.

Step 2 - Confirm your regulatory perimeter. Test your model against PSD2 payment services, e money issuance, investment or crowdfunding rules, and current crypto obligations and MiCA. Document why you are in or out of scope and which regulator is competent.

Step 3 - Choose your route to market. Decide between full authorization, acting as an agent or distributor, partnering under embedded finance, or relying on a narrow exclusion with any required notification to the National Bank of Belgium.

Step 4 - Build a compliance plan. Cover AML KYC, safeguarding, strong customer authentication, incident response, complaints handling, data protection, outsourcing and cloud compliance, and operational resilience under DORA where applicable. Assign accountable owners and timelines.

Step 5 - Prepare core documents. Draft customer terms, privacy and cookie notices, complaints policy, platform and API terms, outsourcing and data processing agreements, and financial promotions that meet FSMA standards.

Step 6 - Set up your corporate and tax footprint. Incorporate a BV or NV if appropriate, register with the Crossroads Bank for Enterprises, complete UBO filings, open safeguarded accounts, and confirm VAT and corporate tax positions.

Step 7 - Engage with regulators. Use the innovation contact points of the National Bank of Belgium and FSMA to validate interpretations, pre discuss novel models, and align on authorization expectations before filing.

Step 8 - Execute authorization or registration. Assemble governance, policies, financial projections, capital evidence, outsourcing inventories, and security documentation. Plan for regulator Q and A and remediation of any gaps.

Step 9 - Launch with controls. Train staff, monitor key risk indicators, test incident response, and run marketing compliance checks, especially for crypto or credit promotions. Localize consumer materials in Dutch for the Hasselt market.

Step 10 - Monitor change. Track updates to MiCA application timelines, DORA technical standards, EBA and ESMA guidelines, and FSMA communications. Schedule periodic legal reviews as you add features or expand cross border.

If you need tailored assistance, consult a Belgian fintech lawyer with experience before the National Bank of Belgium and the FSMA. Early advice typically saves time and cost compared to late stage remediation.