Comparative Guides

Welcome to Mondaq Comparative Guides - your comparative global Q&A guide.

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4. Results: Answers
Tips and traps
What are your top tips for fintech players seeking to enter your jurisdiction and what potential sticking points would you highlight?

Answer ... In light of the favourable tax rules and funding programmes available for small and medium-sized enterprises, Hungary is a perfect destination for fintech companies and investors. The presence of talented and highly educated professionals also facilitates innovation.

However, the regulatory framework has not yet caught up with such innovation. Thus far, the National Bank of Hungary (NBH) has drawn attention to the possible risks arising from new trends and has adopted a rather cautious approach towards fintech solutions. The NBH prioritises the stability of the financial sector and consumer protection. Therefore, in the case of all fintech-related solutions, the assessment of whether they qualify as regulated activities is particularly important.

Co-author: Dr. Dániel Szabó

For more information about this answer please contact: Veronika Bakonyi from Gardos Mosonyi Tomori Law Office