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Special Licenses and Permits in Germany

Special Licenses and Permits in Germany

Updated on Monday 14th September 2015

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Special-Permits-and-Licenses-in-GermanyForeign enterprisers that want to set up a company in Germany are drawn by the investment opportunities in many industries, its business-friendly environment and by the many types of companies available for registration. However, there are businesses that depending on the types of undertaken activities require special permits or licenses in Germany.

Obtaining a special permit in Germany

As mentioned above, some German companies require special permits or licenses in order to conduct business activities. These licenses are issued by the relevant authority in the country or by the local authorities. Licenses of craftsmanship are required for self-employed people. The German craftsmanship permit can be obtained with the local Trades Office (Gewerbeamt) in Germany under the form of a registration certificate (Gewerbeschein) depending on the activity to be undertaken.

The banking license in Germany

The first step towards obtaining a banking license in Germany is to meet the start-up capital requirements to set up a bank. For each type of financial institution there are specific provisions depending on the services they will provide according to the German Banking Law. The banking license can be obtained with the federal financial authority in Germany, BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht).  According to the Banking Law in Germany all financial institutions engaged in investment and contract broking services, portfolio management services, own account trading, money transmission services, foreign currency dealings and credit card services are required to apply for a special license in order to be allowed to function.

The special license for cross-border financial institutions in Germany

Foreign financial institutions wanting to provide banking services in Germany are required to apply for a special permit with BaFin before commencing their activities according to Article 32 of the German Banking Law. Banks and other financial institutions from non-EEA countries are requested to open subsidiaries or branch offices in Germany in order to offer their services to the citizen. The special license for cross-border banking activities will allow the foreign bank or financial company to provide money lending and transmission services.

The gambling license in Germany

Starting 2012 Germany has enabled a gaming treaty that allowed online gambling facilities to operate. This way, online casinos can now apply for a special license in Schleswig-Holstein. The treaty allows an online casino to obtain an unlimited number of special permits for operating web-based gambling activities.

For complete details about special licenses and permits required by the authorities you can contact our German law firm. You can also request information about the latest provisions of the Civil Code from our German lawyers.

 

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