Best Fintech Lawyers in Solna

About Fintech Law in Solna, Sweden

Solna is part of the Stockholm region, one of the Nordic area hubs for finance and technology. Companies and founders based in Solna benefit from proximity to major financial institutions, a large pool of tech talent, and several accelerators and co-working communities. From a legal point of view, Fintech activity in Solna is regulated primarily by national Swedish law and by European Union rules that apply across member states. Regulatory oversight of financial services is handled centrally by national authorities rather than by municipal governments, but local business support and networks in Solna can help startups navigate regulatory processes and find specialist advisors.

Why You May Need a Lawyer

Fintech ventures and users seek legal help for many reasons. Common scenarios include:

- Licensing and authorisation - Applying for payment institution, electronic money institution, or bank authorisation from Finansinspektionen (the Swedish Financial Supervisory Authority).

- Regulatory compliance - Building policies and procedures for anti-money laundering, consumer protection, and payment services rules such as PSD2.

- Data protection - Ensuring GDPR compliance, drafting privacy policies, and managing cross-border transfers of personal data.

- Contracts and commercial agreements - Preparing customer terms, platform agreements, partnerships, API agreements, vendor contracts, and cloud service terms.

- Corporate structuring and investment - Advising on share structures, equity rounds, employee share schemes, and M&A transactions.

- Crypto and token initiatives - Assessing whether tokens are regulated, advising on crypto custody, listings, or exchanges under evolving EU and Swedish rules.

- Dispute resolution and consumer complaints - Representing the company in enforcement actions, administrative proceedings, or civil disputes.

- Employment and IP - Drafting employment contracts, contractor agreements, and protecting software, trademarks, and trade secrets.

Local Laws Overview

Fintech in Solna is subject to a mix of Swedish national laws and EU regulations. Key legal areas to understand include the following.

- Financial regulation and licensing - Finansinspektionen is the main supervisor for banks, payment institutions, electronic money institutions, and certain financial service providers. Activities like accepting deposits, issuing electronic money, or providing payment services typically require authorisation or registration.

- Payment services framework - Swedish law implements EU payment rules such as PSD2. These rules cover access to payment infrastructures, strong customer authentication, liability rules, and rules for payment initiation and account information services.

- Electronic money and banking - Separate rules apply to electronic money issuance and traditional banking. The level of prudential requirements and capital depends on the type of licence.

- Anti-money laundering - Sweden has implemented EU anti-money laundering directives in national law - commonly referred to as Penningtvättslagen. Fintech companies involved in payments, crypto asset services, or certain high-risk activities have obligations to perform customer due diligence, report suspicious transactions, and follow record-keeping requirements.

- Data protection - The EU General Data Protection Regulation (GDPR) applies directly in Sweden and is supplemented by Swedish data protection law. Fintech businesses typically process sensitive financial and identity data and must therefore implement robust data protection measures, lawful bases for processing, and data subject rights procedures.

- Consumer protection and payment disputes - Swedish consumer protection rules and oversight by Konsumentverket apply when services are offered to consumers. The Swedish National Board for Consumer Disputes (ARN) handles many types of consumer complaints.

- Company law, accounting and tax - Standard corporate rules apply under Aktiebolagslagen, bookkeeping and accounting rules, and tax obligations administered by Skatteverket. Proper corporate governance, reporting and VAT or income tax planning are important for fintech businesses.

- Crypto and EU-level rules - The EU has introduced a framework for crypto assets at the EU level. Depending on the business model, crypto-asset service providers may face regulation under EU and Swedish rules covering custody, issuance, and trading of tokens.

Frequently Asked Questions

Do I need a Swedish licence to offer payment services from Solna?

Whether you need a Swedish licence depends on the nature of your activity and where you target customers. If you carry out regulated payment services from Sweden, you will generally need authorisation from Finansinspektionen. If you are licensed in another EU country, you may be able to passport your services into Sweden under EU rules, subject to notification and certain conditions. You should seek advice early to determine the correct regulatory route.

What is the difference between a payment institution and an electronic money institution?

Both types of entities are regulated but serve different functions. A payment institution focuses on payment services such as executing payments, money remittance, or payment initiation. An electronic money institution issues electronic money that stores monetary value electronically. Capital and prudential requirements differ, and the authorisation application will need to reflect the specific business model.

How do anti-money laundering obligations affect a small fintech startup?

AML obligations can apply even to smaller fintech firms depending on services offered. You may be required to implement customer due diligence, monitor transactions, keep records, and report suspicious activity. Establishing AML policies, appointing a compliance officer, and using reliable KYC providers are common steps. Non-compliance risks include fines and criminal exposure.

What must I do to comply with GDPR as a fintech company?

Key GDPR obligations include establishing lawful bases for processing personal data, providing transparent privacy notices, ensuring data minimisation and retention limits, conducting data protection impact assessments where processing poses high risks, implementing appropriate security measures, and ensuring lawful international data transfers. Documenting compliance and appointing a data protection officer may be necessary depending on scale and processing types.

How are crypto assets regulated in Sweden?

Crypto rules are evolving at EU and national levels. EU rules create a pan-EU framework that affects issuance, trading, and custody of crypto assets. In Sweden, crypto-asset service providers may need to comply with AML obligations and other regulatory requirements. The exact regime depends on the type of token and service - for example, whether a token qualifies as a financial instrument or another regulated asset.

Can I use APIs to access customer accounts under PSD2?

Yes, PSD2 allows regulated third-party providers to access payment accounts with consent - subject to strong customer authentication and secure communication. To act as an account information or payment initiation service provider you generally need to be authorised or registered and must comply with security, consent and liability rules.

What are typical timelines and costs to obtain a payment-related licence?

Timelines vary based on the complexity of the business model, completeness of the application, and regulator workload. Expect several months from initial submission to decision in many cases. Costs include application fees, required capital, legal and consulting fees, and operational compliance costs. A tailored assessment is necessary to estimate the specifics for your project.

How should I handle cross-border customers and non-Swedish regulators?

Cross-border activities require careful analysis of where services are provided and the location of customers. EU passporting can simplify operations within the EU, but you must still comply with local customer protection rules and possibly register with local authorities. For non-EU customers, you may need local licences or adapt operations to avoid breaching foreign regulations.

What to do if Finansinspektionen contacts my company?

If a regulator contacts you, respond promptly and transparently. Preserve relevant documents and seek legal advice immediately. Engaging proactively, providing requested information on time, and demonstrating remediation plans when issues are identified can help achieve a more constructive outcome.

How do I find a lawyer experienced in fintech near Solna?

Look for lawyers or firms with demonstrable experience in payments, AML, data protection, and licensing work for financial services. Ask for references, examples of past licences or regulatory work, and whether they have handled matters with Finansinspektionen. Local Solna or Stockholm-based firms often combine regulatory knowledge with proximity to business networks and can assist with both local and EU-level issues.

Additional Resources

Useful organisations and government bodies to know when dealing with Fintech in Solna include:

- Finansinspektionen - Sweden's financial supervisory authority, responsible for licensing and oversight of financial services.

- Integritetsskyddsmyndigheten - Sweden's Data Protection Authority, which enforces GDPR-related matters.

- Penningtvättslagen authorities - bodies that advise on anti-money laundering obligations and reporting systems.

- Bolagsverket - Swedish Companies Registration Office for company formation and filings.

- Skatteverket - Swedish Tax Agency for tax registration and guidance.

- Konsumentverket and ARN - consumer protection authority and dispute body for consumer complaints.

- Local business support - Solna municipality business services and Stockholm regional innovation hubs that advise startups on growth, networking, and local resources.

- Industry groups and networks - fintech industry associations, accelerators and co-working communities in the Stockholm area that provide events, mentorship and practical support.

Next Steps

If you need legal assistance for a fintech project in Solna, here is a recommended step-by-step approach:

- Clarify your business model - Document precisely what services you will offer, the customer types you will serve, and the jurisdictions involved.

- Conduct an initial legal risk map - Identify likely licensing needs, AML exposure, data protection requirements and any consumer protection issues.

- Schedule an expert consultation - Contact a lawyer or law firm with fintech and regulatory experience. Provide clear materials so the lawyer can assess regulatory status and estimate costs.

- Prepare core documents - Start drafting or collecting corporate documents, business plans, AML policies, privacy notices, and technical architecture descriptions that regulators commonly request.

- Consider early engagement with regulators - In complex cases, pre-consultations or informal dialogue with Finansinspektionen can clarify expectations and reduce delays.

- Implement compliance systems - Put in place KYC and transaction monitoring, data protection measures, incident response plans and governance structures before going live.

- Agree fee structure and scope with your lawyer - Clarify whether you will need a one-off licensing package, ongoing compliance support, or transactional work such as fundraising or agreements.

- Keep records and remain proactive - Maintain accurate records of decisions, policies and communications with regulators. Be prepared to update procedures as laws and EU-level rules evolve.

Getting the right legal advice early reduces regulatory risk, supports trustworthy growth, and can save time and cost later. If you are unsure where to start, an initial meeting with a specialist fintech lawyer will help you map the specific legal steps for your Solna-based venture.