Taiwan is to become the seventh nation in the world, and the second in Asia, to start facilitating crowdfunding for entrepreneurs trying to start new companies, with the Financial Supervisory Commission (FSC) to complete operational procedures for related regulations by the end of this month.
Commission Chairman William Tseng (曾銘宗) reported on the proposal to launch the crowdfunding mechanism to the Cabinet yesterday, in a bid to raise more funding methods for planned micro ventures.
“Conducting the crowdfunding mechanism might help raise momentum for entrepreneurs to make up their minds over launching new businesses,” the commission said in a statement.
According to the commission’s proposal, online platforms designed to allow the public to buy stakes in small firms are to be operated by local brokerages with a paid-up capital of NT$50 million (US$1.61 million) or more.
Only companies with paid-up capital of NT$30 million or less will be allowed to sign up for crowdfunding, with the amount of fundraising to be limited to NT$15 million, the commission said.
An individual is only allowed invest NT$50,000 in a single crowdfunding case, it said.
The commission has established an online platform to raise public discussion over related issues for more than two months, while holding various online conferences with experts to help the commission finalize the plan to be adopted next month.
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