Best Fintech Lawyers in Hasselt

About Fintech Law in Hasselt, Belgium

Hasselt is a fast growing tech hub in Flanders, known for the Corda Campus and an active startup ecosystem supported by regional investors and agencies. While innovation and funding support are local, the legal rules that govern financial technology are primarily Belgian and European. Most Fintech businesses in Hasselt are supervised by national regulators and must comply with European Union frameworks that now cover payments, crypto assets, operational resilience, data protection, crowdfunding, investment services, and consumer protection.

Key public authorities include the National Bank of Belgium for prudential supervision of payment and e-money institutions and credit institutions, the Financial Services and Markets Authority for conduct and market rules including investment services, crowdfunding, and crypto asset service providers, and the Belgian Data Protection Authority for privacy. At the EU level, the main frameworks include PSD2 for payment services and open banking, MiCA for crypto assets, DORA for digital operational resilience, GDPR for data, MiFID II for investment services, and the ECSP Regulation for crowdfunding. These rules apply equally in Hasselt as elsewhere in Belgium.

Why You May Need a Lawyer

Fintech regulation is complex because your product may sit at the intersection of payments, e-money, credit, investment services, and crypto. A lawyer can help you determine whether you need a license or registration, which authority will supervise you, and how to structure your product to fit within tolerances of current rules. This early analysis often saves time and resources.

Common situations where legal help is valuable include choosing between a payment institution and an e-money institution, evaluating whether a wallet or stablecoin creates e-money, deciding if a buy now pay later offer is consumer credit, obtaining an authorization under MiCA for crypto asset services, or using a partner bank or agent model. Lawyers also support you in building AML and KYC programs, drafting customer terms and disclosures, creating complaints and dispute procedures, handling data protection impact assessments, and making your cloud and outsourcing contracts compliant with DORA and EBA outsourcing guidance.

Fintech founders also seek counsel for fundraising and token issuance structures, crowdfunding compliance, advertising reviews including FSMA rules for investment and crypto advertising, cross border passporting, preparing for supervisory interviews and fit and proper assessments, tax planning for tokens and revenue flows, employer and contractor documentation in Dutch for Flanders, and resolving consumer or regulator disputes.

Local Laws Overview

Licensing and supervision in Belgium are determined by your activities. Payment services such as money remittance, issuing payment instruments, or account information and payment initiation services generally fall under PSD2 rules and the Belgian Code of Economic Law. Payment institutions and electronic money institutions are authorized and supervised by the National Bank of Belgium. Smaller scale options exist in limited cases, but they carry strict thresholds and conditions. Agents and distributors must be registered. Strong customer authentication and liability rules for unauthorised transactions apply.

Crypto asset service providers must now operate under the EU Markets in Crypto Assets Regulation. MiCA is fully applicable, with authorization and conduct obligations managed by the Belgian competent authority. Belgium previously required FSMA registration for virtual asset service providers under anti money laundering rules. Those regimes have transitioned into the MiCA authorization framework, so businesses should plan for MiCA class permissions, capital, safeguarding, governance, and marketing rules. Issuers of asset referenced tokens and e money tokens face specific obligations.

Crowdfunding platforms that match business borrowers and investors are governed by the EU Crowdfunding Service Providers Regulation. In Belgium, the FSMA authorizes and supervises ECSP platforms. If a platform provides investment services beyond ECSP, MiFID II may apply instead.

Investment services such as reception and transmission of orders, portfolio management, or operating a trading venue require MiFID II permissions. Banks and investment firms are supervised by the FSMA for conduct and by the NBB for prudential aspects. Security token projects may also need to consider the EU DLT Pilot Regime for market infrastructure using distributed ledger technology.

Anti money laundering and counter terrorist financing obligations are set out in the Belgian AML Law of 18 September 2017 and EU rules. Obligations include risk assessment, customer due diligence, ongoing monitoring, beneficial ownership checks and reporting of suspicious transactions. Virtual asset and crypto providers are included. Sanctions screening and travel rule compliance are required where applicable.

Digital operational resilience is now governed by the EU DORA framework. From 2025, financial entities and many Fintech firms must implement ICT risk management, incident reporting, testing, and strict oversight of third party and cloud providers. Contracts with ICT providers must meet specific content requirements. Critical third party providers are subject to EU level oversight. DORA sits alongside NIS2 cyber rules, with DORA acting as the lex specialis for financial entities.

Data and privacy rules are governed by GDPR and Belgian implementing law. You must have a legal basis for processing, apply data minimization, respect user rights, conduct DPIAs where high risk processing is planned, and ensure international transfers follow EU transfer rules. Cookie and electronic communications rules apply to apps and web services. The eIDAS Regulation governs trust services and electronic signatures. An updated EU eIDAS framework is being rolled out, introducing European digital identity wallets.

Consumer protection is found in the Belgian Code of Economic Law, including rules on distance contracts, unfair terms, transparency, and withdrawal rights for certain financial services. Advertising for investment products must be fair, clear, and not misleading. The FSMA has specific guidelines and a regulation for advertising of virtual currencies directed at consumers, which require balanced risk information and in some cases prior notification. For Hasselt and the Flemish Region, consumer communications should be available in Dutch. Clear, plain language is essential.

Tax and accounting treatment depend on the activity. Financial services are often VAT exempt, but exemptions need careful analysis. Crypto related income may be taxed as professional income, miscellaneous income, or be tax exempt depending on how the activity is carried out. Belgium provides innovation incentives such as the innovation income deduction, subject to conditions. Seek specialized tax advice early.

Corporate, employment, and IP matters also matter for Fintech. Belgium has flexible company forms under the Code of Companies and Associations. Employment documents in Flanders must be in Dutch. Stock option and incentive plans must be structured with Belgian tax rules in mind. Software and brand protection are handled through copyright and trademarks with the Benelux Office for Intellectual Property and the EU Intellectual Property Office. Directors and key function holders in regulated entities must pass fit and proper assessments.

Frequently Asked Questions

Do I need a license to launch a Fintech app in Hasselt

It depends on the activities. Purely informational apps may not need a license. If you hold client funds, execute payments, issue a wallet that stores monetary value, offer investment services, or provide crypto asset services, you likely need authorization or registration. Early scoping with a lawyer helps you decide between licensing options and whether a partner model with an existing institution is viable.

Who supervises me, the NBB or the FSMA

The National Bank of Belgium supervises prudential aspects of payment institutions, e money institutions, and banks. The Financial Services and Markets Authority supervises conduct of business, markets, crowdfunding platforms, investment services, MiCA crypto asset service providers, and advertising. Many firms interact with both authorities depending on their permissions.

What changed with MiCA for crypto businesses in Belgium

MiCA introduced a harmonized EU license for crypto asset service providers and rules for issuers of certain tokens. Belgium designates a national competent authority to authorize CASPs and monitor conduct and marketing. Firms that previously relied on AML registration must transition to MiCA authorization, meet capital and governance standards, and follow disclosure and client asset protection rules.

Can I passport my license from Belgium to other EU countries

Yes. Most EU financial licenses allow cross border services through passporting once you are authorized and notify your home authority. This applies to payment and e money institutions, investment firms under MiFID II, ECSP platforms, and MiCA crypto asset service providers. Your compliance must still fit local consumer and language rules where you market.

What AML and KYC rules apply to a small Fintech startup

The Belgian AML Law applies based on activities, not size. If you provide regulated services you must implement a risk based AML program with customer due diligence, ongoing monitoring, beneficial ownership checks, politically exposed person screening, suspicious transaction reporting, and record keeping. Even if you outsource parts of KYC, you remain responsible for compliance.

How does DORA affect my cloud and vendor contracts

DORA requires you to manage ICT risk, categorize incidents, report major incidents, and include specific clauses in contracts with ICT third parties. Contracts must cover access and audit rights, availability and integrity, data location and portability, subcontracting, termination rights, and exit plans. You must map critical dependencies and test your resilience regularly.

What are the open banking rules for accessing bank data

Under PSD2, licensed account information service providers and payment initiation service providers can access payment account data with customer consent through secure APIs. Strong customer authentication is mandatory except where limited exemptions apply. Screen scraping is generally disfavored where APIs are available and performant.

Is a prepaid wallet or stablecoin e money in Belgium

If a product represents a monetary claim on the issuer and is issued on receipt of funds for payment purposes, it may be e money and require an e money institution license. Stablecoins may also fall under MiCA as e money tokens or asset referenced tokens, each with specific obligations. Exact classification depends on design, redemption rights, and how it is marketed.

Can I advertise crypto or high yield products to consumers

Yes, but advertising must be fair, clear, and not misleading. The FSMA has a regulation for advertising of virtual currencies to consumers with content and prominence rules for risk warnings and in some cases prior notification. Investment promotions and influencers are within scope. Keep records and apply approval workflows before publishing ads.

How are data, AI, and credit scoring regulated

GDPR governs personal data processing, profiling, transparency, and data subject rights. If you use AI for risk or credit scoring, you must ensure fairness, explainability, and security. The EU AI Act is being phased in and will regulate certain credit scoring uses as high risk, requiring risk management, data governance, documentation, and human oversight. Plan for compliance early.

Additional Resources

National Bank of Belgium. Prudential supervisor for payment institutions, e money institutions, and banks. Provides authorization guidance and reporting formats.

Financial Services and Markets Authority. Conduct and market supervisor. Authorizes investment firms, ECSP platforms, and MiCA crypto asset service providers. Publishes rules and guidance on advertising and investor protection.

Belgian Data Protection Authority. Supervises GDPR compliance and publishes practical guidance on lawful processing, DPIAs, and breach notifications.

Ombudsfin. Belgian financial sector ombudsman. Provides out of court dispute resolution for consumers of financial services.

Fintech Belgium. Industry association with events and working groups that help navigate policy and networking.

Corda Campus in Hasselt. Regional tech campus with programs and community relevant to Fintech teams.

LRM and POM Limburg. Regional investment and development bodies that support innovative companies in Limburg.

Flemish Agency for Innovation and Entrepreneurship. Provides grants, advice, and growth support for startups and scale ups.

Federal Public Service Economy and Federal Public Service Finance. Government departments for consumer law, market practices, company law, and tax guidance.

European supervisory authorities and standard setters. The EBA, ESMA, and EIOPA issue guidelines and technical standards for PSD2, MiCA, DORA, and MiFID II that apply in Belgium.

Next Steps

Map your business model and user journeys. Write down who your customers are, what funds or assets you hold, how money flows, what data you process, and who your partners are. This scoping document is the basis for legal analysis.

Obtain an initial regulatory assessment. A lawyer can classify each feature against Belgian and EU rules, identify required licenses or registrations, and propose viable structures such as partnering with a licensed institution, using an agent model, or applying for your own authorization.

Choose the right entity and governance. Select a Belgian company form, appoint directors and key function holders who meet fit and proper standards, and design governance and risk frameworks appropriate for your size and permissions.

Build core compliance programs. Prepare AML and KYC policies, complaint handling, incident response, ICT and cyber policies under DORA, outsourcing and cloud standards, data protection impact assessments, and record keeping. Align vendor contracts with DORA requirements.

Prepare your application package. Compile business plans, financial projections, capital and safeguarding arrangements, policies and procedures, organizational charts, and outsourcing registers. Expect questions on operational resilience, safeguarding customer assets, and product risks.

Draft customer documents and marketing. Create clear Dutch language terms for Flemish consumers, pricing disclosures, risk warnings, and consent flows. Review advertising and influencer materials against FSMA and consumer law rules before launch.

Plan for testing and audits. Implement security and resilience testing, compliance monitoring, and internal audit proportional to your risk profile. Put in place incident escalation and regulator notification playbooks.

Set a regulatory timeline and budget. Authorizations can take several months. Build milestones for application submission, regulator feedback, technical readiness, and soft launch.

Monitor legal change. Track updates on PSD3 and the new Payment Services Regulation, MiCA level 2 standards, DORA technical standards, the EU AI Act, the EU Data Act, and Belgian implementing measures.

Engage local expertise. Consider a Hasselt based or Flanders focused law firm for day to day support, with specialized Brussels counsel for dealings with the NBB and FSMA if needed. If your model involves complex tax or cross border elements, add tax and accounting specialists early.