# Per-Country Guide

# Per-Country Regulatory Guide

Country-by-country breakdown of Tok's AISP registration approach.

---

## 🇳🇴 Norway — Base Registration

**Regulator:** Finanstilsynet (Norwegian FSA)
**Licence type:** AISP (opplysningsfullmektig)
**Entity:** ALAI Holding AS (org.nr 932 516 136)
**Capital required:** €0 (PII insurance only)
**Contact:** fintech@finanstilsynet.no

### Process

1. Submit AISP application to Finanstilsynet
   - Programme of operations
   - Business plan
   - Fit & proper declarations
   - PII insurance certificate (Nordic Guarantee or Howden Norway)
   - IT security documentation
   - AML/KYC procedures
2. Application fee: NOK 5,000–30,000
3. Timeline: 2–3 months

### Status
Email sent 24.02.2026. Pre-application guidance meeting to be scheduled.

---

## 🇭🇷 Croatia — EEA Passporting from Norway

**Regulator:** HNB (Hrvatska Narodna Banka)
**Mechanism:** EEA passporting — Norway (EEA) → Croatia
**Capital required:** €0
**Contact:** moneterra@hnb.hr, +385 1 4702 181

### Process

1. ALAI Holding AS obtains Norwegian AISP registration (Finanstilsynet)
2. Finanstilsynet notifies HNB (PSD2 Article 28 — home regulator has 1 month)
3. Service can begin 30–60 days after notification
4. QWAC/QSEAL certificate obtained (DigiCert or GlobalSign)
5. Register on Croatian bank developer portals

**Passporting scope:** Norway → ALL EEA countries (not just Croatia). One Norwegian licence = access to entire EEA.

### API Standard
**Berlin Group NextGenPSD2** — all Croatian HUB-registered banks implement minimum v1.3.8.

### Croatian Bank Portals

| Bank | Sandbox Portal | Status |
|------|---------------|--------|
| Addiko Bank | oapideveloper.addiko.hr | Available |
| Erste & Steiermärkische | developers.erstegroup.com | Available |
| HPB | openbanking.hpb.hr | Available |
| OTP Banka | apiportal.sandbox.otpbanka.hr | Available |
| PBZ (Intesa) | apiportal.pbz.hr | Available |
| Raiffeisenbank | sandbox.rba.hr | Available |
| Zagrebačka banka (UniCredit) | developer.unicredit.eu | Available |

Sandbox access available before AISP approval — testing can begin immediately.

### Verification
After approval, verify registration in EBA EUCLID register: euclid.eba.europa.eu/register/pir/search

---

## 🇷🇸 Serbia — Direct NBS Registration

**Regulator:** NBS (Narodna Banka Srbije)
**Licence type:** AISP registracija
**Entity:** ALAI Tech d.o.o. (Serbian subsidiary, 100% ALAI Holding AS)
**Capital required:** €0 for AISP; €50,000 for PISP
**Contact:** platni.sistem@nbs.rs, +381 11 3338-051

### Legal Basis
- Zakon o platnim uslugama: Sl. glasnik RS 64/2024 (adopted 31.07.2024, applicable from 06.05.2025)
- Odluka o tehničkim standardima: Sl. glasnik RS 102/2024 (published 23.12.2024)
- Bank API deadline: 01.01.2026

### Process

1. Register ALAI Tech d.o.o. with APR (Serbian Business Registry)
   - ALAI Holding AS = 100% owner
   - Minimum capital: 100 RSD (symbolic per Serbian law)
   - Activity: account information service provision
2. Submit AISP registration to NBS
   - Programme of operations
   - Business plan
   - AML/KYC procedures
   - IT security documentation
   - Organisational structure
   - PII insurance from NBS-licensed insurer (Dunav or DDOR)
3. Timeline: 3 months statutory, 6 months realistic
4. NBS sandbox available for pre-registration testing

### Important: No Central API Standard

Serbia does NOT have a centralised API standard like Croatia's HUB. Each bank must be connected bilaterally.

| Bank type | API standard | Adapter |
|-----------|-------------|---------|
| EU bank groups (UniCredit, Raiffeisen, NLB) | Berlin Group (likely) | `BerlinGroupAdapter` |
| Domestic banks (AIK, OTP Serbia, Banca Intesa Serbia) | Bank-specific | `BilateralAdapter` |

### Serbian Bank Portals

| Bank | Portal | API Standard |
|------|--------|-------------|
| NLB Komercijalna | developer.nlbkb.rs | Berlin Group (NLB group) |
| UniCredit Srbija | developer.unicredit.eu | Berlin Group (UniCredit group) |
| Raiffeisen Srbija | api.rbinternational.com | Berlin Group (RBI group) |
| AIK Banka | TBD — bilateral | Unknown |
| OTP Srbija | TBD — bilateral | Unknown |
| Banca Intesa Srbija | TBD — bilateral | Likely Berlin Group |

### PII for Serbia
Must be from an **NBS-licensed insurer** — foreign/EEA policy is not accepted.
- Dunav Osiguranje: dunav.com
- DDOR Osiguranje: ddor.rs
- Policy will be bespoke (no off-the-shelf fintech PII product in Serbia)

---

## 🇧🇦 BiH — Bilateral Agreements

**Regulators:** CBBH (central bank), FBA (FBiH banking agency), ABRS (RS entity banking agency)
**Mechanism:** No PSD2 mandate — direct bilateral contracts with banks
**Capital required:** €0

### Process

1. Contact EU bank groups with existing API infrastructure:
   - UniCredit BiH (UniCredit group — developer portal exists)
   - Raiffeisen BiH (RBI group — API marketplace exists)
   - NLB BiH (NLB group — developer portal exists)
2. Negotiate bilateral data access agreements
3. Implement per-bank `BilateralAdapter`
4. Note: May require notification/approval from FBA or ABRS — investigate during Phase 3

**Local contact:** Asmir Merdžanović (SnowIT partner) — local contacts and market knowledge.

### Status
Phase 3 — begin after Croatia and Serbia are operational (Q1 2027).

---

## Comparison Table

| Aspect | Croatia | Serbia | BiH |
|--------|---------|--------|-----|
| PSD2 | Full (since 2019) | Equivalent law (2024) | None |
| API standard | Berlin Group v1.3.8+ | No central standard | None |
| Registration path | EEA passporting from NO | Direct NBS registration | Bilateral only |
| Entity | ALAI Holding AS | ALAI Tech d.o.o. | — |
| Capital for AISP | €0 | €0 | €0 |
| PII | EEA policy (NO) | Serbian NBS-licensed insurer | N/A |
| Timeline | Q3 2026 | Q4 2026 | Q1 2027 |
| QWAC required | Yes | If Berlin Group adopted | No |
| Sandbox available | Yes (all major banks) | Yes (NBS sandbox) | No |