New pan-EU licence allows HeavyFinance to expand its platform
HeavyFinance – the Lithuania-headquartered lending marketplace – is expanding its platform to include projects from all countries on payments platform Lemonway, thanks to its new pan-EU crowdfunding licence.
The platform, which funds farmers via agricultural finance and green loans, gained its European Crowdfunding Service Providers (ECSP) licence earlier this month.
HeavyFinance lends to agricultural ventures in Bulgaria, Latvia, Lithuania, Poland and Portugal, but previously, its partner Lemonway solely permitted the listing of projects from Lithuania.
“This means that farmers and entrepreneurs across the globe can benefit from our platform, connecting with a broader network of investors passionate about supporting sustainable agriculture,” said HeavyFinance.
Read more: Agricultural finance platform offers up to 13pc returns
The company also clarified the tax requirements for its investors.
“When investing in non-Lithuanian projects through HeavyFinance, you are not obligated to pay taxes in Lithuania,” it said. “No need to fill DAS-1 forms or navigate through complicated tax procedures.
“Instead, your returns from these projects will be taxed according to your local taxation system, alleviating the burden of dealing with complex cross-border tax processes.”
HeavyFinance has gone from strength to strength and has attracted nearly 8,000 investors thanks to growth from Germany, France and Spain.
Read more: Opportunities in mainland Europe for UK investors