Best Fintech Lawyers in Thivais

About Fintech Law in Thivais, Greece

Fintech in Thivais operates within the broader Greek and European Union legal framework. Greece is an EU and eurozone member, so most core fintech rules come from EU regulations and directives applied nationally. The Bank of Greece supervises payment and e-money institutions, the Hellenic Capital Market Commission oversees investment services, crowdfunding, and most crypto activities, and the Hellenic Data Protection Authority enforces data protection. Key themes shaping the market include open banking under PSD2, the rollout of EU rules for cryptoassets under MiCA, operational resilience under DORA, strict anti-money laundering rules, and GDPR for data protection. Local startups and established firms in payments, remittances, BNPL, robo-advice, crowdfunding, and digital asset services are active, often partnering with banks and regulated institutions to accelerate go-to-market while meeting compliance obligations.

Why You May Need a Lawyer

You may need a fintech lawyer if you are deciding whether your product requires a license in Greece, choosing the right regulatory perimeter for a payment app, e-wallet, e-money, crowdfunding, robo-advisory, or crypto service, or planning to passport an EU license into Greece and need to manage notifications, agents, and compliance localization. Legal support is also critical to build AML and counter-terrorist financing controls, customer onboarding, sanctions screening, and travel rule compliance. Product and UX design often require help to align with consumer protection rules, SCA requirements, dispute handling, and transparent pricing. If you process personal data or use AI, you will need guidance on GDPR, ePrivacy, data localization, international transfers, DPIAs, and the EU AI Act. Technology contracting, cloud outsourcing, and third-party risk must be structured to meet DORA and EBA expectations. Lawyers help with marketing claims, promotions, influencer programs, and financial advertising rules. You may also need assistance with corporate structuring, employment and contractor arrangements, stock options, tax considerations, IP strategy, and platform terms and policies. In the event of customer complaints, investigations, supervisory information requests, or enforcement actions, counsel can manage responses and remediation.

Local Laws Overview

Licensing and supervision - Payment institutions and e-money institutions are authorized and supervised by the Bank of Greece. EU firms can passport into Greece once home state authorization is notified. Core rules stem from EU PSD2 for payment services, including strong customer authentication and access to accounts for open banking. E-money issuance is an authorized activity, and agents and distributors must be registered and controlled.

Cryptoassets and token services - Cryptoasset service providers historically registered for AML purposes with the Hellenic Capital Market Commission. The EU Markets in Cryptoassets Regulation is phasing in. Rules for asset-referenced and e-money tokens started applying in 2024, and the broader regime for cryptoasset service providers applies from late 2024. Firms will need authorization, prudential, conduct, and safeguarding controls, plus white paper and marketing standards depending on the token and service type.

Crowdfunding and investment services - Investment and brokerage services are regulated under MiFID II and supervised by the Hellenic Capital Market Commission. Investment-based and lending-based crowdfunding platforms operate under the EU crowdfunding regime and require authorization, governance, and investor protection controls, including risk disclosures and key investment information sheets.

AML and CTF - Greece applies stringent AML rules aligned with EU directives. Obligations include customer due diligence, beneficial ownership verification, ongoing monitoring, suspicious activity reporting, recordkeeping, and internal controls. Crypto transfers are also captured by the EU funds and crypto transfers regulation, which requires originator and beneficiary information to travel with transfers. Expect risk-sensitive onboarding design, PEP screening, and periodic KYC refresh.

Data protection and privacy - GDPR applies to all personal data processing, enforced by the Hellenic Data Protection Authority. Fintech firms must identify lawful bases, provide clear notices, honor data subject rights, implement security measures, manage processors with data processing agreements, and use appropriate safeguards for international transfers. Cookies and electronic marketing require consent standards under ePrivacy rules.

Operational resilience and outsourcing - The EU Digital Operational Resilience Act applies from 2025. It requires ICT risk management, incident reporting, testing, third-party risk and cloud oversight, and contractual standards with ICT providers. Sector guidance on outsourcing also applies to material arrangements, requiring governance, audit rights, data location considerations, exit strategies, and concentration risk management.

Consumer protection and marketing - Consumer protection rules prohibit unfair commercial practices and require clear pricing, fees, and contract terms. Distance and online sales must provide pre-contract information, withdrawal rights where applicable, and robust complaints handling. BNPL and other credit-like offerings face evolving EU consumer credit rules that expand scope and disclosures. Marketing of financial services must be fair, clear, and not misleading.

Corporate, tax, and employment - Company formation, governance, and reporting use the national corporate framework and the General Commercial Registry. Fintechs must register for tax and use the national e-books and e-invoicing infrastructure. Tax treatment varies by business model and instrument type. Employment and contracting must meet Greek labor rules, including remote work and data security obligations.

Frequently Asked Questions

Who regulates fintech firms in Greece and in Thivais specifically

Supervision is national. The Bank of Greece regulates payment and e-money institutions. The Hellenic Capital Market Commission regulates investment services, crowdfunding, and most crypto firms. The Hellenic Data Protection Authority oversees data protection. Local operations in Thivais must comply with these national regimes and any local business registration and tax formalities.

Do I need a Greek license for a payment app or can I passport an EU authorization

If you are already authorized in another EU country, you can usually passport your payment services or e-money license into Greece after the home authority notifies the Bank of Greece. If you are not licensed, you may need Greek authorization or a partnership with an authorized institution acting as issuer or acquirer, with you as agent or distributor.

What rules apply to crypto exchanges and wallets serving Greek customers

Cryptoasset service providers historically registered for AML supervision with the capital markets authority. The EU MiCA regime is now phasing in, and service providers will need authorization and must meet prudential, conduct, safeguarding, conflicts, and disclosure standards. Marketing and white paper rules apply depending on the token and service. Travel rule requirements apply to crypto transfers.

How long does it take to obtain a license in Greece

Timing depends on the license type and the quality of your application. Payment and e-money authorization processes often take several months from a complete submission. Early engagement with the Bank of Greece, thorough policies, fit and proper documentation, financial projections, and a realistic staffing and outsourcing plan help keep timelines predictable.

What are my AML and KYC obligations when onboarding customers

You must apply risk-based customer due diligence, verify identity and beneficial ownership, screen for PEPs and sanctions, monitor transactions, and file suspicious activity reports when warranted. You need written policies, training, a compliance officer, recordkeeping, and regular reviews. Digital onboarding is allowed if it meets reliability standards and mitigates impersonation risks.

How does GDPR affect my fintech app

GDPR requires a lawful basis for each processing purpose, transparent notices, user rights handling, data minimization, security by design, vendor contracts with processors, and appropriate transfer safeguards if data leaves the EEA. High-risk processing may need a data protection impact assessment. Breaches trigger notification duties on tight timelines.

Can we use cloud providers outside Greece

Yes, but you must manage operational and compliance risks. Under DORA and outsourcing guidance, your contracts should include audit and access rights, data location and security clauses, incident support, termination and exit plans, and subcontracting controls. If personal data leaves the EEA, use approved transfer mechanisms and assess local laws.

What rules apply to crowdfunding platforms targeting Greek investors

EU crowdfunding rules apply, with authorization and supervision by the Hellenic Capital Market Commission. Platforms must meet governance and conduct standards, provide risk warnings, handle conflicts of interest, vet project owners, and deliver standardized information sheets to investors. There are limits and protections for non-sophisticated investors.

Are there sandbox or innovation support options in Greece

Greece provides innovation contact points such as the central bank’s fintech outreach, which can offer informal feedback on regulatory questions. While there is no broad national sandbox like in some countries, early dialogue with the authorities can help clarify licensing, passporting, or partnership pathways.

How will the EU AI Act affect fintech products that use machine learning

The EU AI Act has phased application beginning in 2025 and 2026. If your system falls in a high-risk category, you will face risk management, data governance, documentation, testing, human oversight, and transparency obligations. Even non-high-risk systems must meet basic transparency and fairness expectations. Align your model governance and monitoring accordingly.

Additional Resources

Bank of Greece - competent authority for payment and e-money institutions, central bank oversight, and a fintech innovation contact point for early stage regulatory questions.

Hellenic Capital Market Commission - competent authority for investment services, crowdfunding platforms, and most cryptoasset service providers.

Hellenic Data Protection Authority - national authority for GDPR enforcement, guidance, and decisions on data processing and security practices.

Hellenic Financial Ombudsman - out-of-court dispute resolution for banking and investment services, useful for complaints handling frameworks.

General Secretariat for Consumer Protection - guidance on consumer rights, unfair commercial practices, and distance selling rules.

General Commercial Registry and local Chamber of Commerce - company formation, corporate filings, and business registrations for entities operating in Thivais and nationwide.

Independent Authority for Public Revenue - tax registration, e-books and e-invoicing compliance, and VAT matters relevant to fintech operations.

Next Steps

Define your product and services precisely. Map what you will do, who your customers are, how money and data flow, and which partners or vendors you will rely on. Use this to scope which licensing regimes may apply, whether passporting is possible, and if an agent or distributor model makes sense.

Engage advisors early to perform a regulatory gap analysis. Identify PSD2 e-money MiCA crowdfunding or MiFID II touchpoints, plus AML, GDPR, consumer, and DORA requirements. Build a compliance roadmap that aligns with your product build and launch plan.

Choose your legal structure and governance. Incorporate or register appropriately, appoint directors and key function holders who meet fit and proper standards, and draft internal policies for AML, risk, complaints, outsourcing, security, and data protection.

Prepare your authorization or passporting pack. Expect to provide a program of operations, business plan, capital and liquidity evidence, policies and procedures, IT and security architecture, outsourcing arrangements, safeguarding methods, and key staff resumes. Consider a pre-application meeting with the competent authority.

Design compliance into your user journey. Implement SCA where needed, provide clear disclosures and pricing, set up robust onboarding and screening, implement consent and data rights mechanisms, and plan for dispute and chargeback handling.

Build operational resilience. Align contracts with cloud and other ICT providers to DORA standards, set up incident detection and reporting, plan penetration testing and audits, and maintain a vendor inventory and exit strategies.

If you need tailored support in Thivais, contact a fintech-experienced Greek lawyer. Share your business model, timelines, and existing documentation, and ask for a scoping call. Agree on milestones for regulatory engagement, documentation drafting, and technical compliance checks so you can launch with confidence.

This guide is for general information only and is not legal advice. Always seek advice from a qualified lawyer who can assess your specific facts and goals.