Mediation and advice of financial assets by foreign persons

Financial services companies generally require a permit for financial asset intermediaries and financial asset advisors. In the event of prior written notification of a temporary exercise of financial investment intermediary activity in accordance with Section 13a of the German Commercial Code (GewO), nationals of a Member State of the EU or of a State Party to the Agreement on the European Economic Area may independently provide financial services.

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Proof of nationality (e.B. by identity card or passport) Proof of lawful establishment for the exercise of financial investment intermediaries 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 are no criminal records Documents from the State of establishment proving personal reliability for the exercise of the financial intermediaries Proof of professional qualification where the activity of the financial investment intermediaries 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 carried out in the State of establishment for at least two years in the previous ten years Proof of insurance cover or any other form of individual or collective protection in relation to professional liability For traders from another EU member state or an EEA Member State, documents issued in the country of origin may be used to demonstrate that the reliability and orderly financial situation of the trader are met.


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Preconditions
Citizen of a Member State of the EU or of a State Party to the Agreement on the European Economic Area lawful establishment for the exercise of financial investment intermediary activities in one of these 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.

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

Last update or date of publication
13.09.2018