North Macedonia
Answer ... Fintech companies wishing to enter the Macedonian market should seek guidance on all regulations that will apply to their business and whether they will be required to obtain a licence for their activity. From the very outset, fintech companies should seek guidance on anti-money laundering, data protection and cybersecurity regulations, as the regulatory penalties for non-compliance in these areas can be very high. Also, fintech companies are advised to approach the regulators as early as possible to understand their approach to their particular mode of business.