Frequently asked questions

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FAQ
Crowdfunding means the financing of the project where a group of persons collectively pool the investment amount required for the project. Collegial investing enables funders to invest the desired amount without being bound to make the total investment. As the minimum investment amount is reduced, there is an opportunity to participate in the projects which were available only to major investors before and it becomes easier to diversify the investment portfolio.
Röntgen is a crowdfunding platform supervised by the Bank of Lithuania which allows investing in projects that have been accessible only to a narrow circle of high net worth investors before.
Investing on the platform is available to registered and identified individuals and legal entities.

Yes, legal entities can also invest through the platform under the Law on Crowdfunding.

To invest on behalf of the company, when completing the questionnaire after the registration and identification, please specify the type of account as „legal“ and enter the contact details of the company. The user in whose name the account has been opened and investments are made must also be an authorised representative of the company entitled to initiate such transactions.

  • The project owner applies for funding.
  • The project owner applies for funding. The platform operator evaluates the project. Only selected projects are presented to investors.
  • Individuals and legal entities invest chosen amounts into the project.
  • After the required amount of funds has been collected, the money is paid to the project developer according to a pre-agreed payment schedule.
  • The investment and interest are paid back to investors according to a pre-agreed schedule.

Before the announcement on the platform, the project owner and the operator sign the Framework Loan Agreement which provides for the terms and conditions of all agreements concluded with investors. By this document, the operator and the project owner confirm their participation in the transaction.

Once the decision to invest is made, an analogous loan agreement indicating the investor's contact details and the investment amount is generated. This action is deemed as an official Offer of the project owner and the platform operator. By making the payment, the investor carries out the Acceptance. The entirety of these actions ensure the legally official conclusion of the contract and the commitment of all parties to perform it.

The definitions of the Offer and Acceptance are described in greater detail in the Civil Code of the Republic of Lithuania.

Until the transfer to the project owner, the money is held in the restricted electronic money account. These funds cannot be used by the project owner, nor the platform operator. They are transferred to the account managed by the developer after the implementation of the obligations, according to a pre-agreed schedule.
Money is paid out according to a pre-agreed schedule. Usually, payments will coincide with intermediate property valuations, and verifications of construction cost estimates carried out during the project. After the assurance has been obtained that the value of the project is increasing and the money allocated previously was spent on the development, the next payment will be made.
In case the required amount has not been collected within the set period, all investments will be refunded to the investors' accounts from which the payments were made.
If you invest using the Bank-link service, your payment will be entered immediately.
If you invest by an ordinary bank transfer, the entry of your payment may take up to two working days. In such event, you will be included on the list of investors after the entry of your payment. If there is such a situation that the project is fully funded during the time from your bank transfer until the entry of the payment, your money will be returned to the account from which the payment was made and the contract concluded at the time of payment will be terminated.
Usually, investors will get back their funds from the sale or lease of a completed project or by refinancing the finished project at the bank.
We keep in touch with the borrower during the entire project; therefore, possible difficulties related to the repayment of the loan are determined a while before the repayment date. Having noticed that the project owner comes across difficulties, we take necessary actions and work together to find the best solution acceptable to all parties.
Based on the circumstances, the following actions are taken:
  1. Loan term extension. It is done when it can be seen that the project has encountered only temporary difficulties (e.g., sales are carried out but only at a slower pace than it was planned) and the loan will be repaid. In such event, investors are granted an interest bonus for the delayed period.
  2. Judicial debt recovery is launched by carrying out property seizures and involving debt collection companies, courts or bailiffs.
The investor never has to participate personally in the debt recovery process, Röntgen represents investors in all stages of the debt recovery process and constantly informs them about developments.
Investments placed on the platform are secured by initial or subsequent pledge of real estate (mortgage) in favour of funders. In case of compulsory recovery, the platform operator is indicated as the collateral holder and representative of investors.
In the case of the project owner's insolvency, a compulsory recovery through a forced sale of the property will be carried out. Initial and subsequent pledge in favour of investors give priority to compensation after the sale of the recovered property. Then investors in whose favour a subsequent pledge has been made are compensated.
Pledges can be made in stages when collected funds are paid out, thus keeping the consistent ratio of debt to collateral.
Before projects are presented to investors, Röntgen carries out an analysis that includes the assessment of the materials submitted by the project owner, independent property valuation and information from other sources. Attention is paid to the present value of the property, development plan, developer's experience, asset liquidity, etc. This procedure, just like the Röntgen project risk assessment score, constitutes only an overview of the project and should not be considered an investment recommendation. Each investor assumes full risk related to the borrower's potential insolvency and related failure to receive interest and the whole investment amount or any portion thereof.
Prolonged standard project verification processes and their approval at several levels resulted in high fixed costs related to the evaluation of loans for banks. For this reason, a lower priority is given to small and medium-sized projects, and their assessment takes longer or is not carried out at all. In projects which are partially financed by banks, crowdfunding can be relevant when forming a share of own capital as well (mezzanine financing). (mezzanine financing).
Yes, funding of a share of own capital (mezzanine financing) is available upon a subsequent pledge of property.
It is a subjective assessment of project risks by the platform operator. When calculating this rating, due account is taken of such factors as the developer's experience, project location, financial indicators, etc. The assessment rules are coordinated with the Bank of Lithuania which supervises crowdfunding platforms. The Röntgen rating is of an informative nature only and should not be regarded as an investment recommendation.
  1. The platform allows investing amounts starting from EUR 100, thus enabling investors to participate in projects which have been accessible only to professionals before.
  2. Professional investors can diversify their investment portfolio by channelling funds into several different projects, thus reducing the dependence on the success of a single project.
  3. Röntgen carries out project search, selection and supervision until the repayment of the investment. We ensure that the investor would be only minimally involved, and in case of necessity, all required information would be easily accessible.
All investments on the platform are made directly between the project owner and investors. The platform is only a technical tool enabling to carry out transactions; therefore, all contracts would continue to be valid as scheduled.
  1. Funding of real estate development projects after the building permit has been obtained.
  2. Advance payments for the sales of completed construction.
  • Building permit
  • Technical project
  • Valuation of the property to be pledged
  • The business plan of the project
  • Project estimate
  • Project schedule
  • Financial statements of the company
The project is placed on the platform within 2-3 days after the submission of all documents. The attraction of investments could take approximately two weeks after the placement of projects on the platform.
Yes, it can. In case of a pre-mature repayment, the project owner must pay to investors an interest bonus set in the loan agreement.
Röntgen platform funds only real estate projects. All funds received must be channelled into real estate development and may not be used for any other purposes such as the acquisition of equipment, increase of working capital, etc.
Investors are not charged any fees for the use of the platform; however, they must pay the taxes applicable to them under the laws of the Republic of Lithuania. Where investments are made by an individual who is not engaged in any individual activities, he/she is required to pay the individuals’ income tax at the rate of 15% on the actual interest. Investors must declare income from the actual interest received during the previous calendar year. Tax returns must be submitted by 1 May. interest. Investors have a duty to declare income from the actual interest received during the previous calendar year. Tax returns must be submitted by 1 May.
Securities trustee is a third party which collectively represents all bondholders by communicating with the bond issuer. The primary role of a trustee is to represent bondholders’ interests and carry out actions according to their will. The role and parties eligible to represent it are described by the Law on Bond Holders of the Republic of Lithuania.
Securities account is a unique account that records your ownership of acquired shares and bonds. It is not required for issuing loans, but it is necessary for the acquisition of securities such as shares or bonds.
In most cases, the procedure for opening a securities account is extremely simple. You can find out more about opening such an account by contacting your bank manager.
For the convenience of investors, this account can be specified and opened after the investment is made. Therefore, you can choose your desired investments now, and if you need to open a securities account, we will inform you.
Investors are not subject to any platform usage fees, but they are required to pay taxes according to the laws of the Republic of Lithuania.
Nuolatinių Lietuvos gyventojų uždirbtos palūkanos yra priskiriamos B klasės pajamoms, tad investuojant kaip fiziniam asmeniui reikia susimokėti 15% GPM (Gyventojų Pajamų Mokestį) už faktiškai gautas palūkanas. Platforma už Lietuvos gyventojo uždirbtas palūkanas VMI (Valstybinei Mokesčių Inspekcijai) pateikia informaciją, kuri yra užpildoma preliminarioje pajamų deklaracijos GPM308 v.3 formoje. Šį dokumentą galite rasti prisijungę prie VMI EDS (Elektroninės Deklaravimo Sistemos). Investuotojas pajamas deklaruoti ir GPM sumokėti už praėjusį mokestinį laikotarpį privalo iki gegužės 1d.
Per kalendorinius metus uždirbtų palūkanų sumai (įskaitant per Röntgen suteiktas paskolas bei nesusijusias investicijas) yra taikoma 500 Eur neapmokestinama riba. Jeigu bendra per kalendorinius metus gautų palūkanų suma 500 Eur sumą viršija, tai neapmokestinami pirmieji 500 Eur, o šį dydį viršijanti suma apmokestinama 15 proc. pajamų mokesčio tarifu. Tikslią reikiamą sumą rasite preiminarioje deklaracijos formoje. If the investor's domicile changes, the information must be updated immediately after logging-in in the Settings section.
Investors are not subject to any platform usage fees, but they are required to pay taxes according to the laws of the Republic of Lithuania.
Interest earned by non-permanent residents of Lithuania is classified as Class A income. The Röntgen platform automatically deducts 15% of the Income Tax from the interest received. If the country in which the investor resides has an international double taxation agreement with Lithuania, the investor may fill in and submit a double tax avoidance form DAS-1 and a residence confirmation letter (received from the residence tax administrator). In this case, Röntgen will automatically deduct 10% or 0% tax (depending on the country of residence of the investor), respectively, from the interest earned on the platform. The investor must also pay the compulsory taxes in one’s country of residence in accordance with the local laws.
If the investor does not fill in the DAS-1 form on time, the STI (State Tax Inspectorate) may be provided with the form of a DAS-2 for a refund of the overpayment. The DAS-3 form can be used to receive a proof of paid tax amount in Lithuania. The amount of interest earned per calendar year (including loans granted by Röntgen and unrelated investments) is also subject to a non-taxable limit of EUR 500. You can use the GPM309 form to avail this benefit and recover up to € 75. If the investor's domicile changes, the information must be updated immediately after logging-in in the Settings section.
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