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, 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
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