Are there any legal concerns I need to be aware of?
Most crowdfunding campaigns will be able to launch without any problems. However, it's important to be aware of some legal circumstances that may arise when crowdfunding. This isn't an exhaustive list of the things that you need to be aware of, but it serves as a good starting point for you to consider the legalities of your own campaign.
- Raffles / Lottery: These are actually regulated, so you would need to check with your local authority whether or not you would need a permit
- Offering Direct Financial Value and Equity: This is something that is not permitted on our platform.
- Sponsorship / Benefit - If you have a corporate sponsor and they display their logo, then you may have to charge VAT on donations, as it becomes a paid promotion
- Having confirmation from the charity you are fundraising for: It is best practice to converse with the charity/organisation to let them know what you are planning on doing and get their consent. It's also a good idea to have a confirmation in writing.
The best piece of advice would be to check the guidance available in your area to see what is permitted and what isn't. Unfortunately we can't provide specific guidance to everyone as the guidance may differ based on your location and the type of campaign you are running.