Best Fintech Lawyers in Melissia

About Fintech Law in Melissia, Greece

Melissia is a suburb of Athens in the Attica region. Legal rules that affect fintech activity in Melissia are the same as those that apply across Greece and the European Union. That means fintech businesses and users in Melissia operate under a mix of EU-level rules - for example payment services, data protection, anti-money-laundering and crypto-related rules - together with Greek national laws and regulatory supervision from authorities based in Athens. Practical implications for local founders, startups and customers include licensing or registration requirements, customer due diligence, consumer protection obligations and national tax and company law rules that affect how you set up and run a fintech business.

Why You May Need a Lawyer

Fintech is a highly regulated area where small mistakes can trigger fines, enforcement actions or business disruption. You may need a lawyer in situations such as:

- Planning and structuring a fintech company - choosing the right corporate form, shareholder agreements and cross-border structure.

- Licensing and registration - applying for payment institution, e-money institution, crypto-asset service provider or other authorisations, and preparing the required documentation.

- Regulatory compliance - designing and implementing AML, KYC, sanctions screening, transaction monitoring and reporting programs that meet Greek and EU requirements.

- Data protection and privacy - drafting privacy notices, data processing agreements, impact assessments and responding to supervisory audits under GDPR and Greek law.

- Product design and contracts - drafting user terms, merchant agreements, API contracts, banking integrations and platform terms to manage legal risk and consumer liabilities.

- Fundraising and securities work - structuring investments, convertible notes, token offerings and dealing with securities regulation questions.

- Disputes, investigations and enforcement - defending complaints from customers, regulators or other market participants, and navigating regulatory inspections.

- Tax, employment and IP - structuring compensation, handling staff and contractor arrangements, protecting software and trademarks.

Local Laws Overview

Fintech activity in Melissia is governed by a combination of EU directives and regulations, and Greek national law and supervision. Key areas to understand are:

- Payment services and open banking - PSD2 and related Greek implementation rules regulate payment initiation and account information services, payment institutions and e-money institutions, and require strong customer authentication for many transactions.

- Anti-money-laundering and counter-terrorist financing - EU AML rules and Greek AML legislation impose customer due diligence, suspicious activity reporting and record-keeping obligations on many fintech firms. The national financial intelligence unit is tasked with receiving and analysing reports.

- Data protection - GDPR and Greek data protection law apply to personal data processing. Companies must implement lawful processing bases, data subject rights mechanisms and technical-organisational safeguards. The Hellenic Data Protection Authority supervises compliance.

- Crypto and digital assets - EU-level frameworks such as the Markets in Crypto-Assets Regulation (MiCA) and national measures affect issuers and service providers dealing with crypto-assets. Rules cover prospectus-like obligations, capital, governance and consumer safeguards. The legal status of specific crypto products depends on their characteristics and may bring them under payments, securities or commodity regimes.

- Consumer protection and contract law - Greek consumer protection rules and general contract law govern information duties, unfair terms and remedies for consumers using fintech products and services.

- Financial supervisory authorities - the Bank of Greece supervises many payment and e-money activities, while the Hellenic Capital Market Commission supervises investment services and certain crypto activities. Other national bodies influence taxation, company registration and digital policy.

- Company, tax and employment law - Greek company law and tax rules determine how to incorporate, report and compensate staff or contractors. Cross-border operations require attention to transfer pricing, VAT on digital services and payroll obligations.

Frequently Asked Questions

Do I need a licence to operate a fintech business in Melissia?

It depends on the business model. Activities such as providing payment services, issuing e-money, or operating as a crypto-asset service provider often require authorisation or registration with Greek regulators. Purely informational or technology-only services that do not hold client funds or execute payments may not need a financial licence, but they may still be regulated for data protection and consumer protection reasons.

Which authorities regulate fintech in Greece?

The main authorities are the Bank of Greece and the Hellenic Capital Market Commission, depending on the activity. The Hellenic Data Protection Authority oversees GDPR compliance. The national financial intelligence unit handles AML reporting. Ministries such as the Ministry of Digital Governance and tax authorities also play roles for specific matters.

How long does it take to get a licence or registration?

Timelines vary widely by licence type and preparedness. Simple registrations can take a few weeks to months. Full authorisations for payment institutions, e-money issuers or investment firms commonly take several months and require detailed documentation, capital proofs and compliance frameworks. Delays are common if documentation is incomplete.

Can I passport my Greek licence to other EU countries?

Many financial licences obtained in one EU member state can be passported to provide services in other member states under EU law. Whether passporting applies depends on the licence type and the applicable EU rules. Passporting requires adherence to host state notifications and sometimes additional local requirements.

What are the key AML obligations for a fintech?

Obligations include customer due diligence when onboarding customers, ongoing monitoring of transactions, keeping records for required periods, reporting suspicious transactions to the national reporting authority and implementing risk-based policies and staff training. The exact obligations depend on the activity and the risk profile of customers and services.

How does GDPR affect fintech companies?

GDPR imposes obligations on how personal data is collected, stored, used and shared. Fintech firms must have lawful bases for processing, provide transparent privacy notices, implement data minimisation and security measures, handle data subject requests and, in many cases, perform data protection impact assessments for high-risk processing. Non-compliance can lead to significant fines.

Are crypto tokens regulated in Greece?

Crypto tokens may be regulated depending on their characteristics. Tokens that qualify as financial instruments or e-money are regulated under existing financial rules. The EU Markets in Crypto-Assets framework and corresponding Greek measures introduce specific requirements for many crypto-assets and service providers. Legal analysis is needed to classify a token and determine the regulatory path.

What should I include in user terms and privacy policies?

User terms should set out the scope of services, rights and responsibilities of the provider and users, fees, dispute resolution, limitation of liability and termination conditions. Privacy policies should explain what personal data is processed, the legal basis, retention periods, data subject rights and transfer mechanisms. Both documents must reflect actual practices and applicable law.

How much does compliance usually cost for a fintech startup?

Costs vary by business model and scale. Expect initial legal, compliance and licensing fees, capital requirements for certain licences, costs for building AML and security systems, ongoing reporting and audit costs, and staff or third-party compliance resources. It is common to budget a significant portion of early spend on regulatory readiness and ongoing compliance.

What are practical first steps if I want to launch a fintech service in Melissia?

Start by mapping your business model and the regulatory requirements that apply. Conduct a legal and regulatory assessment to identify licences, data and AML obligations. Choose a corporate structure, prepare compliance policies, and engage an experienced Greek fintech lawyer or advisor early to guide licence applications, documentation and regulator engagement.

Additional Resources

- Bank of Greece - the main supervisor for payment services and certain financial institutions.

- Hellenic Capital Market Commission - oversight of investment services and related markets.

- Hellenic Data Protection Authority - supervisory body for GDPR and data protection matters.

- National Financial Intelligence Unit - responsible for receiving and analysing AML reports.

- Ministry of Digital Governance and other relevant ministries - policy initiatives and innovation support.

- Greek tax and company registration offices - for incorporation, tax compliance and employer obligations.

- European institutions - frameworks and guidance from bodies such as the European Banking Authority, European Securities and Markets Authority and the European Data Protection Board are highly relevant for EU-wide rules that affect Greek fintechs.

- Industry groups and incubators - local fintech associations, accelerators and industry events can help with practical insights, networking and market access.

Next Steps

1 - Clarify your business model and list the services you intend to offer. This will drive the legal and regulatory path.

2 - Conduct a legal and compliance gap analysis with an adviser experienced in Greek and EU fintech regulation. Identify licences, registrations and key policy needs such as AML and data protection.

3 - Prepare the required documentation - business plan, governance, risk and compliance manuals, KYC and transaction monitoring policies, privacy notices and contractual templates.

4 - Engage with the relevant regulator early if your model is novel or borderline. Early discussions reduce delays and identify expectations.

5 - Budget for capital, licensing fees and ongoing compliance. Ensure you have the technical and operational controls for secure data handling and transaction processing.

6 - If you need legal help, look for a lawyer or firm with demonstrable fintech experience in Greece and EU matters. Ask about licences they have supported, regulator engagement experience and client references.

7 - Maintain compliance after launch - regulatory obligations are ongoing. Plan regular reviews, audits and updates to policies as law and technology evolve.