Crowdfunding in Nova Scotia
Traditionally crowdfunding involves a large number of people, the “crowd”, who provide funding to a project or business venture and receive products or services in return. Funding commonly takes place through a website. The Nova Scotia Securities Commission (the Commission) does not regulate this type of purchase or donation based crowdfunding. In May 2015, the Commission adopted new rules to allow equity or debt crowdfunding in Nova Scotia.
List of Start-up Crowdfunding Portals allowed to operate in Nova Scotia
|Canadragon Enterprise Equity Crowdfunding Interchange||www.ecfex.ca||Start-up crowdfunding registration exemption|
|Consider Funding Inc.||www.considerfunding.com||Start-up crowdfunding registration exemption|
|GoTroo||www.gotroo.com/en/||Start-up crowdfunding registration exemption|
|RealStarter||www.realstarter.ca||Start-up crowdfunding registration exemption|
Vested Technology Corp.
Start-up crowdfunding registration exemption
Funding portals can operate under one of these two schemes:
- Registered dealer: This type of portal is operated by a dealer registered with the NSSC. Its activities are governed by legislation and the applicable rules and regulations. A dealer that operates a portal has the obligation to ensure that the investment products it offers suit the client's needs and financial profile. For more information about a registered dealer that operates a portal, please see the CSA's National Registration Search to see if a dealer is registered.
- Start-up Crowdfunding Registration Exemption: This type of portal is not registered with the NSSC and has very limited obligations towards investors. It cannot provide any investment advice and does not have the obligation to ensure that the investment products it offers are suitable in light of the client's needs and financial profile. Please take caution before investing through one of these portals.
For further information or to submit completed forms email: nssc.Crowdfunding@novascotia.ca