Best Fintech Lawyers in Arta

About Fintech Law in Arta, Greece

Fintech in Arta operates within the national and European Union legal framework that governs financial services, payments, crypto-assets, data protection, and cybersecurity. Although Arta is a regional city, any fintech that serves customers in Arta is subject to the same Greek and EU rules as firms in Athens or other EU capitals. Oversight is divided among Greek regulators, with the Bank of Greece supervising payment and e-money institutions, the Hellenic Capital Market Commission supervising investment services, crowdfunding platforms, and crypto-asset service providers, and the Hellenic Data Protection Authority supervising privacy and data protection. Local business steps in Arta include company formation with the General Commercial Registry and practical matters such as local tax registration, office leases, and vendor contracts.

European rules shape most requirements. Key EU instruments include the Payment Services Directive for payments, the General Data Protection Regulation for privacy, the Markets in Crypto-Assets Regulation for crypto-asset issuance and services, the Digital Operational Resilience Act for ICT risk, and anti-money laundering rules that require robust KYC and transaction monitoring. Greek laws implement and complement these rules, and local procedures determine how you obtain authorizations, register your entity, and handle customer disputes in Arta and across Greece.

Why You May Need a Lawyer

Licensing and authorization - determining whether your model needs a Greek payment institution, e-money institution, investment firm, crowdfunding provider, or crypto-asset service provider authorization, and whether EU passporting applies.

Regulatory mapping - translating your product features into the correct legal categories, including buy-now-pay-later, wallets, remittances, open banking, robo-advice, tokenized assets, stablecoins, or embedded finance.

Compliance design - building AML and counter-terrorist financing programs, GDPR compliance and privacy by design, DORA-compliant ICT risk and incident response, and customer disclosures under Greek consumer law.

Contracts and partnerships - drafting banking-as-a-service agreements, agent and distributor arrangements, API and data access terms, vendor and cloud agreements, and customer terms in Greek and English.

Crypto matters - MiCA authorization planning, white paper preparation for asset issuers where applicable, Travel Rule implementation, custody and safeguarding, and interaction with the Hellenic Capital Market Commission.

Corporate setup in Arta - choosing the right vehicle such as a Greek Private Company, registering with the General Commercial Registry, arranging tax and accounting, and structuring shareholder and investment agreements.

Marketing and consumer issues - ensuring offers, pricing, and promotions comply with Greek consumer protection laws, distance marketing rules, and unfair commercial practices rules.

Disputes and investigations - responding to regulator inquiries, audits, or enforcement actions, handling customer complaints, chargebacks, and litigation before the courts in Arta or other competent courts, and using mediation or ombudsman schemes.

Employment and IP - hiring local staff, setting up remote work policies, protecting source code and algorithms, and managing stock options under Greek law.

Local Laws Overview

Payments and e-money - Greek law implementing EU payment rules requires authorization for payment services and issuance of e-money. The Bank of Greece licenses and supervises payment institutions and e-money institutions. Many business models can operate under partnerships or as agents of licensed firms, but those arrangements must be properly structured and registered.

Open banking - Strong customer authentication and secure API access are mandatory under EU rules. If you provide account information or payment initiation services, you need the right authorization and must meet security and liability requirements.

Crypto-assets - The Markets in Crypto-Assets Regulation applies in phases. Rules for asset-referenced tokens and e-money tokens apply from mid-2024. Authorization requirements for crypto-asset service providers apply from late 2024, with transitional periods. Greece requires registration and supervision of crypto-asset service providers, with the Hellenic Capital Market Commission as the key authority.

Anti-money laundering - Greek AML law requires risk assessments, customer due diligence, screening, ongoing monitoring, suspicious transaction reporting, and governance controls. Crypto-asset transfers are also subject to the EU Transfer of Funds rules including the Travel Rule.

Data protection - GDPR applies to all processing of personal data of individuals in Greece. You must have a lawful basis, transparent privacy notices, strong security measures, and data processing agreements with vendors. The Hellenic Data Protection Authority enforces GDPR in Greece.

Operational resilience and cybersecurity - The Digital Operational Resilience Act applies from early 2025 to financial entities and requires ICT risk management, incident reporting, testing, and third-party risk controls. Additional security obligations can apply under national implementation of EU network and information security rules, depending on your classification.

Consumer protection - Greek consumer law requires clear information on pricing and fees, fair contract terms, a 14-day withdrawal right for most distance contracts outside regulated financial products that have their own regimes, and effective complaint handling. Dark patterns, hidden fees, and misleading claims can trigger enforcement.

Crowdfunding and investment services - The EU Crowdfunding Service Providers Regulation governs investment and loan-based crowdfunding, supervised in Greece by the Hellenic Capital Market Commission. Traditional investment services are subject to EU investment firm rules and MiFID-based obligations.

Company setup and local procedure - To establish in Arta, you register your company with the General Commercial Registry, obtain a tax number, and keep proper accounting records. The Arta Chamber of Commerce can act as a one-stop service for many filings. Local courts and mediation frameworks handle disputes, with Greek law 4640-2019 supporting mediation for civil and commercial disputes.

Frequently Asked Questions

Do I need a Greek license to offer payment services in Arta if I already have an EU authorization

If your firm is authorized in another EU or EEA country, you can usually passport your payment or e-money services into Greece by notifying your home regulator, which coordinates with the Bank of Greece. You must follow Greek conduct rules, consumer law, and reporting that apply to passported entities. Marketing and use of agents in Greece require proper notifications and registrations.

Can a startup in Arta operate as an agent of a licensed payment institution instead of getting its own license

Yes, many early stage fintechs operate as agents or distributors of licensed payment or e-money institutions. The principal must assess and register the agent with the Bank of Greece and remains responsible for compliance. You must implement AML controls, staff training, and customer due diligence consistent with the principal's program.

What are the main GDPR issues for a fintech serving customers in Arta

Common issues include selecting a lawful basis for processing payments and fraud prevention, drafting clear privacy notices in Greek, using data minimization, implementing strong security and encryption, signing data processing agreements with cloud and KYC vendors, handling international transfers, and responding to access or deletion requests within deadlines. The Hellenic Data Protection Authority can audit and fine for non-compliance.

How does MiCA affect crypto businesses in Greece

MiCA sets EU-wide rules for issuance and public offering of certain crypto-assets and for crypto-asset service providers such as exchanges, brokers, custodians, and advisors. Rules for asset-referenced and e-money tokens apply from mid-2024. Authorization requirements for service providers apply from late 2024 with transitional arrangements. In Greece, the Hellenic Capital Market Commission is the key supervisor. Firms must meet prudential, governance, safeguarding, disclosure, and conduct standards.

What AML obligations apply to a small fintech or crypto exchange in Arta

Obligations include a risk assessment, customer due diligence with risk-based KYC, screening for politically exposed persons and sanctions, ongoing monitoring, record keeping, training, appointment of an AML officer, transaction monitoring and suspicious activity reporting. For crypto transfers, you must implement the Travel Rule so originator and beneficiary information accompanies transfers above set thresholds.

Do we need customer terms and disclosures in Greek

Yes, consumer facing documentation and disclosures must be in clear and understandable Greek for customers in Greece, even if you also provide English versions. This includes terms and conditions, fee schedules, privacy notices, complaints procedures, and any pre-contractual information.

Are smart contracts legally enforceable in Greece

Smart contracts are enforceable if they meet general contract law requirements such as consent, capacity, lawful cause, and form where applicable. Execution on a blockchain does not replace statutory disclosures or consumer rights. You still need clear terms and a way to evidence consent, and you must comply with sector-specific rules that cannot be waived by code.

What should I know about DORA if I rely on cloud and third-party providers

DORA applies to most financial entities and requires comprehensive ICT risk management, incident classification and reporting, resilience testing, and oversight of critical third-party providers. Contracts with cloud and other ICT vendors must include specific clauses on access, security, audit, data location, and termination. Smaller firms must still meet proportional requirements.

Can I market fintech services online in Greece without a local presence

You can market cross-border under EU freedoms, but you must comply with Greek consumer law, advertising rules, and local language requirements. If your service requires authorization or registration, ensure you have the right license and passporting in place before marketing. Claims about returns, fees, crypto assets, or credit must be fair, balanced, and not misleading.

How are customer complaints typically handled in Greece

You must operate an internal complaints process with clear timelines. Many disputes are resolved through alternative dispute resolution bodies in the financial sector. If unresolved, customers can pursue mediation or court proceedings. For financial services, sector ombudsman schemes offer low-cost resolution, and regulators may review systemic issues that emerge from complaints.

Additional Resources

Bank of Greece - Supervises payment and e-money institutions, issues regulatory guidance, and operates an innovation hub for fintech queries.

Hellenic Capital Market Commission - Supervises investment services, crowdfunding providers, and crypto-asset service providers, and offers guidance on authorization and conduct rules.

Hellenic Data Protection Authority - Enforces GDPR, publishes guidelines on lawful processing, security, and data subject rights relevant to fintech data flows.

General Commercial Registry GEMI - Handles company incorporation and filings for entities established in Arta and across Greece.

Independent Authority for Public Revenue AADE - Provides tax registration and compliance information relevant to fintech operations and VAT obligations.

Hellenic Financial Ombudsman - Offers alternative dispute resolution for banking, investment, and insurance disputes between consumers and firms.

Arta Chamber of Commerce and Industry - Local one-stop service for company formation steps, certificates, and business support in Arta.

European Supervisory Authorities - The European Banking Authority, European Securities and Markets Authority, and European Insurance and Occupational Pensions Authority publish guidelines and Q and A that apply across the EU.

Ministry of Digital Governance - Publishes e-signature, trust services, and digital policy guidance relevant to onboarding, identity, and remote contracting.

Local courts and mediation services in Arta - The Court of First Instance of Arta and certified mediators handle civil and commercial disputes, including fintech customer claims and vendor conflicts.

Next Steps

Clarify your business model - map every feature such as payments, custody, lending, wallet services, or investment advice to the relevant legal category. Identify where you will onboard customers and where services are provided.

Run a licensing and regulatory gap check - determine whether you need a Greek authorization, can rely on EU passporting, or can partner as an agent or distributor. Include crypto-asset and crowdfunding considerations where relevant.

Engage regulators early - use the Bank of Greece or Hellenic Capital Market Commission innovation hubs to test assumptions and understand expectations for authorization packages and ongoing supervision.

Design compliance by default - build AML, GDPR, and operational resilience controls into your product from the start. Select KYC, payments, and cloud vendors that meet EU and Greek requirements, and negotiate contracts that support audits and oversight.

Localize your documents - prepare customer terms, fee schedules, and privacy notices in Greek, and set up a clear complaint handling process that meets Greek consumer protection standards.

Incorporate and set up in Arta - choose an appropriate corporate form, register with the General Commercial Registry, obtain a tax number, and establish bookkeeping and reporting procedures.

Prepare for audits and reporting - set up governance, board policies, internal controls, incident response, and regulatory reporting. Train staff on AML, data protection, and customer communications.

Consult a fintech lawyer - obtain written advice on licensing, contracts, and compliance, review product flows, and plan authorization or passporting timelines. Local counsel with EU fintech experience can help you avoid delays and costly rework.

Implement and iterate - launch in stages, monitor regulatory updates, and run periodic compliance reviews and penetration testing to maintain alignment with Greek and EU law.

If you face a customer dispute or regulator inquiry - act quickly, preserve evidence, engage your lawyer, and use mediation or ombudsman channels where appropriate to resolve issues efficiently.