Crowdfunding is a process through which an individual or a business can raise small amounts of money from a large number of people, typically via the Internet. The objective is to raise sufficient funds in order to carry out a specific project.
Securities crowdfunding is when a business raises funds by issuing debt securities (such as bonds) or securities giving the right to participate in future profits (such as shares). In Québec, issuing securities offered to the public is subject to legal and financial obligations.
The Autorité des marchés financiers has adopted registration and prospectus exemptions that allow companies to use securities crowdfunding to raise capital, subject to certain conditions.
Start-up Crowdfunding Exemption
- Multilateral CSA Notice 45-316 (pdf - 245 KB)This link will open in a new window
- Multilateral CSA Notice 45-317 (pdf - 110 KB)This link will open in a new window
- Multilateral CSA Notice 45-319 (pdf - 324 KB)This link will open in a new window
- CSA Notice of Publication of Regulation 45-108 respecting Crowdfunding (pdf - 202 KB)This link will open in a new window
- Regulation respecting Crowdfunding
- Policy statement to Regulation 45-108 respecting Crowdfunding
- Securities Crowdfunding Guide for Businesses (pdf - 435 KB)This link will open in a new window
- Securities Crowdfunding Guide for Funding Portals (pdf - 231 KB)This link will open in a new window
- Crowdfunding Guide for Investors
For further information please contact:
Québec City: 418-525-0337
Email: Request for information This link will open in a new window