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Fintech Market Overview

This article does not constitute legal advice.

Lending in Austria

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Lending is a licensable banking activity under Austrian law. There are no exemptions for peer-to-peer lending or start-up companies; however, it appears that the FMA does not pursue private individuals participating in peer-to-peer lending platforms. In addition to being a licensed banking activity, the intermediation of loans can also be regulated.1

Factoring is a banking activity subject to Austrian law. It involves the purchasing of loans and other receivables, but 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. A contract outlining the assignment needs no filing or perfection requirements for validity - agreement alone suffices - though a third party debtor could potentially raise defences or declare set-off until notification of said assignment.1

Payment services in Austria

Fintech in Austria

Fintech in other countries

Let's introduce you

Austrian Fintech Lawyers

Silvia Calls

Silvia Calls

We work for international SMEs, startups and Telco's

Kristina Berkes

Kristina Berkes

Participation as a lawyer at investment venture funds, leading venture M&A deals in IT, supporting iGaming and business assets

Denis Polyakov

Denis Polyakov

Comprehensive legal services for businesses on corporate, tax law, cryptocurrency legislation, investment activities

Notes
  1. https://thelawreviews.co.uk/title/the-financial-technology-law-review/austria
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