Mediation and advice of financial investments by foreign persons Advertisement

Financial services companies generally require a permit for financial investment intermediaries and financial investment advisors.

In the event of prior written notification of a temporary exercise of financial investment brokerage activity in accordance with § 13a of the Industrial Code (GewO), nationals of a member state of the EU or a state party to the Agreement on the European Economic Area may offer financial services independently.

Related Links

  • § 13a Industrial Code (GewO)
  • Proof of nationality (e.B. by identity card or passport )
  • Proof of lawful establishment for the exercise of financial investment intermediary activity in a Member State of the EU or a State Party to the Agreement on the European Economic Area
  • Proof that the exercise of these activities is not prohibited, even temporarily
  • Proof that there is no criminal record
  • Documents from the State of establishment proving personal good repute for the exercise of the financial investment intermediary business
  • Proof of professional qualification, if the activity of the financial investment brokerage trade is also linked to the possession of certain professional qualifications in the State of establishment
    • otherwise, proof that a financial investment intermediary business has been practised in the State of establishment for at least two years in the previous ten years
  • Proof of insurance cover or other type of individual or collective protection in relation to professional liability

In the case of traders from another Member State of the EU or an EEA Member State, documents issued in the country of origin may be used to prove that the requirements for the reliability and orderly financial circumstances of the trader are met.

Related Links

  • § 13b Industrial Code (GewO)

Preconditions

  • Citizen of a member state of the EU or a state party to the Agreement on the European Economic Area
  • lawful establishment for the purpose of carrying out the activity of financial investment intermediary in one of those States

Hints

The permit is valid throughout Germany. It can be limited to one or more categories. Under certain conditions, the competent authority may revoke a permit.

Related Links

  • § 13a-c Industrial Code (GewO)
  • Financial Investment Brokerage Ordinance (FinVermV)

Responsible for the content
Lower Saxony Ministry of Economic Affairs, Labour and Transport

Last update or date of publication
13.09.2018