You can see the rules and regulations in other jurisdictions.
Lending is a licensable banking activity under Austrian law. There are no exemptions for peer-to-peer lending or start-up companies; however, the FMA does not appear to pursue private individuals who participate in peer-to-peer lending platforms. The intermediation of loans can also be a licensable banking activity, unless certain exemptions apply, in which case only a regulated trade licence will be required.1
Furthermore, factoring is a licensed banking activity under Austrian law. More precisely, the purchase of receivables, including loans, requires a banking licence. The assignment of receivables is also subject to an ad valorem stamp duty in the amount of 0.8 per cent of the assigned value. Certain exemptions to the stamp duty may apply; for example, assignments in the course of a factoring transaction or an assignment of receivables to a securitisation special-purpose entity. No perfection requirements apply with respect to an assignment of receivables. The assignment will be valid once agreed between the parties or in accordance with the terms of the contract. However, a third-party debtor may raise defences and may also declare set-off against the new assignee until being notified of the assignment.1
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