Best Fintech Lawyers in Modave

About Fintech Law in Modave, Belgium

Modave is a small municipality in the province of Liège, Wallonia, and its fintech activity is governed primarily by Belgian federal law and European Union law. There is no separate Modave-specific fintech regime. Whether you are building a payments app, a crowdfunding platform, a crypto service, or a regtech tool, the same national rules and EU frameworks apply regardless of whether you are based in Brussels, Liège, or Modave.

Financial supervision in Belgium is shared chiefly between the Financial Services and Markets Authority, which oversees conduct and markets, and the National Bank of Belgium, which supervises prudential aspects for payment and e-money institutions and certain other firms. Many core rules flow from EU legislation such as PSD2 for payments, GDPR for data protection, MiCA for crypto-assets, and DORA for digital operational resilience. Local practicalities in Modave still matter, such as business premises, company registration, and access to regional support in Wallonia, but licensing, compliance, and consumer protection issues are handled at the national and EU levels.

Fintech in Belgium is mature and collaborative. Banks, payment processors, and start-ups work within a clear licensing framework, open banking standards, and established consumer protection rules. Belgium also operates innovation contact points at the supervisors to help new entrants understand the rules. This makes Modave a viable base of operations, especially for remote-first teams that rely on digital infrastructure and regional talent.

Why You May Need a Lawyer

Launching or scaling a fintech product engages multiple legal domains at once. You may need a lawyer to determine whether your product requires authorization as a payment or e-money institution, or registration as a crypto-asset service provider. If you handle client funds, initiate payments, issue electronic money, or custody crypto, licensing and safeguarding rules apply. Even if you are pure software, your marketing, data processing, and contracts must meet strict standards.

Common triggers for legal help include designing compliant customer onboarding and anti-money laundering procedures, drafting platform terms and policies, structuring partnerships with banks or payment processors, reviewing cloud and outsourcing arrangements, and setting up a GDPR program, including data protection impact assessments. A lawyer can also assist with fundraising and shareholder agreements, employee equity plans, intellectual property protection for software and algorithms, and cross-border services within the EU through passporting. If you plan crypto promotions or investment communications, Belgian advertising rules and risk disclosures require careful attention.

If your business is based in Modave, you may additionally need advice on company formation under the Belgian Companies and Associations Code, local establishment formalities, employment contracts under Belgian labor law, and tax registrations. Early legal input reduces authorization delays, lowers regulatory risk, and puts your product on a scalable footing.

Local Laws Overview

Payments and e-money. EU PSD2 sets the framework for payment services such as account information and payment initiation. Belgium has implemented PSD2 in national law, and the National Bank of Belgium licenses and supervises payment institutions and e-money institutions. Strong customer authentication is required for most electronic payments under the PSD2 regulatory technical standards. Open banking access must be provided by account servicing payment service providers to licensed third parties. Safeguarding of client funds, capital requirements, governance, and incident reporting are central obligations.

Crypto-assets. Belgium requires certain virtual asset service providers to register with the Financial Services and Markets Authority for anti-money laundering purposes. The EU Markets in Crypto-assets Regulation is being phased in, with rules for asset-referenced tokens and e-money tokens applying from mid 2024, and the crypto-asset service provider regime applying from late 2024. These rules cover authorization, governance, white papers, conduct of business, and prudential safeguards. Belgium also has specific rules for crypto advertising that require clear risk warnings and prior notification of mass campaigns.

Crowdfunding. EU Regulation 2020-1503 on European crowdfunding service providers applies across the EU. Providers offering investment-based or lending-based crowdfunding typically require authorization and must deliver standardized disclosures, conduct investor knowledge assessments, and meet conflict of interest and complaints handling requirements. In Belgium, the FSMA acts as the competent authority.

Operational resilience and outsourcing. The EU Digital Operational Resilience Act applies from 2025 and creates a harmonized regime for ICT risk management, incident reporting, testing, third-party risk, and oversight of critical providers. Existing national and European guidance on outsourcing, cloud concentration risk, and security continues to apply. Firms should have contracts and governance that satisfy supervisory expectations around availability, integrity, and data location.

Anti-money laundering and counter-terrorist financing. Belgian AML law requires obliged entities such as payment institutions, e-money issuers, certain crypto service providers, and crowdfunding platforms to apply a risk-based approach to customer due diligence, monitor transactions, identify beneficial owners, and report suspicious activity to the Belgian Financial Intelligence Processing Unit. Remote onboarding is permitted subject to stringent identity verification controls. Screening for sanctions and politically exposed persons is expected.

Data protection and e-signatures. The EU GDPR and the Belgian Data Protection Act of 30 July 2018 govern personal data. Fintech firms must identify lawful bases for processing, apply data minimization, manage processors and cross-border transfers, and notify breaches within 72 hours when required. High-risk processing may require a data protection impact assessment and possibly a data protection officer. Trust services and electronic signatures are governed by EU eIDAS rules, which allow qualified electronic signatures to carry legal effect similar to handwritten signatures.

Consumer protection and marketing. The Belgian Code of Economic Law sets strict rules on unfair commercial practices, transparency of pricing and fees, cooling-off periods in distance contracts, and specific content for pre-contractual disclosures. Consumer credit, including many buy-now-pay-later models, is subject to detailed requirements. Marketing of financial and investment products is closely scrutinized, and crypto advertisements must include standard warnings and be fair, clear, and not misleading.

Corporate, tax, and employment. The Companies and Associations Code offers flexible company forms, with the SRL being the most common for start-ups. Directors duties, conflict management, and shareholder rights should be documented early. Belgian financial services can be VAT exempt depending on the activity, while other services are taxable, so careful VAT analysis is needed. Corporate income tax, withholding tax, and social security obligations apply to employers. Non-compete clauses, IP assignment from employees and contractors, and confidentiality require contract alignment. Stock option plans often use warrants or similar instruments under Belgian rules.

Local setup in Modave. While authorizations are national, your firm will still need a registered office, company and VAT registrations, and may need local permits for signage or workspace modifications. Consider connectivity and cybersecurity continuity plans suited to a rural setting. Consumers in Belgium can turn to the financial services ombudsman for certain disputes, so ensure you have a robust complaints process and clear escalation paths.

Frequently Asked Questions

Do I need a license to launch a payment app in Belgium

If your app only provides technical services without holding funds or initiating payments, you may not need a payment license. If you execute or initiate payments, provide account information services, issue payment instruments, or hold client funds, you likely need authorization or registration under the Belgian implementation of PSD2. Many start-ups partner with a licensed payment or e-money institution as a technical service provider while they assess direct authorization. A legal analysis of your exact user journey and fund flows is essential.

Can I operate a crypto business from Modave

Yes. Location within Belgium does not limit your ability to operate, provided you meet national and EU requirements. Belgium requires registration for certain virtual asset service providers for AML purposes, and the EU MiCA regime introduces authorization and conduct standards for crypto-asset service providers from late 2024. You must implement AML controls, safeguard client assets where relevant, meet advertising rules, and follow data protection obligations.

What are the rules for advertising crypto or other investment products

Advertisements must be fair, clear, and not misleading. Crypto promotions in Belgium are subject to specific FSMA rules that require standardized risk warnings and prior notification for mass campaigns. Investment promotions more broadly are also subject to strict conduct and disclosure requirements. Have a lawyer review your marketing materials and customer journeys before launch.

Can I onboard customers fully online

Yes, subject to AML and eIDAS constraints. Remote onboarding is permitted if you implement robust identity verification, liveness checks where appropriate, sanctions and PEP screening, and risk-based monitoring. Retain clear audit trails and consider performing a data protection impact assessment. Some business models or risk profiles may still require enhanced due diligence.

Which company form should I choose for a fintech start-up

The SRL is a flexible private limited company form widely used by Belgian start-ups. It allows tailored governance, multiple share classes, and does not have a fixed minimum capital, though founders must ensure adequate initial financing. For firms targeting regulated status, governance, fit and proper requirements, and financial projections will shape the optimal structure. Incorporation formalities include notarial deeds for company formation and registrations with the business register and tax authorities.

How does GDPR affect my fintech product

GDPR applies to almost all personal data processing. You must define lawful bases, provide transparent notices, limit data to what is necessary, manage data subject rights, secure data proportionately, and sign data processing agreements with vendors. Cross-border transfers require approved mechanisms such as standard contractual clauses. Breaches triggering risk to individuals must be notified to the authority within 72 hours and sometimes to affected individuals.

Do I have to use strong customer authentication

Strong customer authentication is required for most electronic payments under PSD2, with limited exemptions such as low value or transaction risk analysis. If you are an account information or payment initiation service provider, you must support secure interfaces and adhere to regulatory technical standards. Align your UX with SCA flows such as biometrics or one-time passwords.

Can I passport my authorization across the EU

Most EU financial licenses such as payment institution, e-money institution, and crowdfunding service provider can be passported to other member states after notification, enabling cross-border services without separate licenses. MiCA will also permit cross-border crypto-asset services based on a single authorization. Product scope and activities must match what your authorization allows.

How are fintech services taxed in Belgium

Many financial services are exempt from VAT, while technology or support services may be taxable. Corporate income tax applies to profits and payroll taxes and social security apply to employees. Crypto and digital asset taxation depends on the facts, including whether gains arise from normal management of private wealth or professional activity. Obtain tailored tax advice early to avoid surprises, especially if your model mixes exempt and taxable supplies.

What should I do if I suffer a data breach or fraud incident

Activate your incident response plan immediately. Contain the issue, preserve evidence, notify affected partners such as your bank or payment processor, and assess legal notification duties. GDPR may require notifying the data protection authority within 72 hours and informing affected individuals. Financial sector rules may also require incident reporting to supervisors. Review contracts with cloud and vendors to ensure cooperation and timely forensics.

Additional Resources

Financial Services and Markets Authority. The conduct and markets supervisor for Belgium, including crypto advertising rules, crowdfunding authorization, and registration of certain virtual asset service providers. It provides an innovation contact point for fintech queries.

National Bank of Belgium. The prudential supervisor for payment and e-money institutions, incident reporting, safeguarding requirements, and outsourcing expectations. It offers a fintech contact channel for prospective applicants.

Federal Public Service Economy. The administration for company law, consumer protection, and the business register. It provides guidance on the Code of Economic Law and commercial practices.

Belgian Data Protection Authority. The authority overseeing GDPR compliance, breach notifications, and guidance on data protection impact assessments, cookies, and direct marketing.

Federal Public Service Finance. The authority for corporate income tax, VAT, and the ultimate beneficial owner register. It provides rulings and general tax guidance.

Ombudsfin. The Belgian financial services ombudsman for handling consumer complaints and disputes with financial institutions.

Crossroads Bank for Enterprises. The national business register used for company identification numbers and official registrations.

Benelux Office for Intellectual Property. The authority to register trademarks and designs that protect your brand and UI elements.

Regional innovation and business support in Wallonia. Programs such as Digital Wallonia and local incubators can assist with grants, networking, and infrastructure. The Modave municipal administration can advise on premises and any local formalities.

Next Steps

Clarify your business model in writing. Map user journeys, fund flows, and each function you will perform. This determines whether you need authorization as a payment or e-money institution, registration under crypto rules, or can operate as a technical service provider. Identify where you will hold funds, when you will trigger strong customer authentication, and which data you will process.

Engage with a fintech lawyer early. Request a regulatory gap analysis that covers licensing, AML program design, safeguarding, outsourcing and cloud contracts, data protection, consumer disclosures, and marketing approvals. A lawyer can also structure your company under the Companies and Associations Code, draft shareholder and employment agreements, and design an employee equity plan suited to Belgian practice.

Prepare for supervisory interactions. Assemble a business plan, financial projections, governance and internal control framework, policies for AML, risk, compliance, and ICT security, and draft customer terms. If you are uncertain about scope, use the supervisors innovation contact points to validate assumptions before filing applications. Build realistic timelines, as authorizations can take several months.

Set up your Modave footprint. Secure a registered office, complete business and VAT registrations, and ensure reliable connectivity and contingency measures. If using a home office or shared space, confirm any local rules on signage or workspace use. Establish secure remote working practices and vendor oversight from the outset.

Operationalize compliance. Implement KYC workflows, sanctions screening, transaction monitoring, safeguarding of client funds, incident response, and complaints handling. Conduct a data protection impact assessment where needed, appoint a data protection officer if required, and document processor agreements. Test your ICT resilience in line with upcoming DORA expectations.

Plan for launch and growth. Pilot with limited cohorts, monitor for incidents and customer friction, refine risk controls, and only then scale. If you intend to serve other EU markets, plan your passport notifications early. Revisit tax, transfer pricing, and VAT implications as your model evolves.

This guide provides general information only and is not legal advice. For tailored assistance with fintech in Modave and across Belgium, consult a qualified lawyer who can review your specific product and regulatory profile.