Mediation and advice of financial investments by foreign persons Notification
Financial services companies generally require a licence for financial investment brokers and financial investment advisors.
In the event of prior written notification of only temporary exercise of financial investment brokerage activity in accordance with § 13a Gewerbeordnung (GewO), nationals of a member state of the EU or a contracting state of the Agreement on the European Economic Area may offer financial services independently.
Who should I contact?
The responsibility lies with the Chamber of Industry and Commerce (IHK), in whose territory the business is located.
This procedure can also be carried out through a "Point of Single Contact". The "Point of Single Contact" is a special service offered by municipalities and the state for service providers.
- Citizen of a member state of the EU or a state party to the Agreement on the European Economic Area
- Legally established for the purpose of acting as financial investment intermediary in one of these states
Which documents are required?
- Proof of nationality (e.g. identity card or passport)
- Proof of legal establishment for the exercise of financial investment brokerage activities in a member state of the EU or a contracting state to the Agreement on the European Economic Area
- Proof that the pursuit of these activities is not prohibited, even temporarily,
- Proof that there is no criminal record
- Documents from the country of establishment proving personal reliability for the purpose of carrying on the business of financial investment intermediaries
- Proof of professional qualification, if the activity of financial investment intermediary is also linked to the possession of certain professional qualifications in the Member State of establishment
- failing that, proof that at least two years of financial investment intermediation have been carried on in the State of establishment in the previous ten years;
- Proof of insurance cover or other form of individual or collective protection in relation to professional indemnity
In the case of traders from another EU Member State or an EEA Member State, documents issued in the country of origin proving that the requirements relating to the good repute and orderly financial circumstances of the trader are met may be used.
What are the fees?
Fees are charged in accordance with the fee regulations of the competent authority. Please contact the competent authority.
What deadlines do I have to pay attention to?
Once permission has been granted, an entry is automatically made in the register of intermediaries. After obtaining the permit, a business registration must be carried out before the start of the activity.
What else should I know?
The permit is valid throughout Germany. It may be limited to one or more categories. Under certain conditions, the competent authority may revoke a licence.
Technically approved by
Lower Saxony Ministry of Economic Affairs, Labour and Transport
List ID 831 (whitelist; Status: 13.09.2018)
The text was automatically translated based on the German content.