Hamburg Chamber of Commerce

Permission for Real Estate Loan Brokers and Fee Real Estate Loan Advisers

Prerequisites

• They are personally reliable.
• They have sound financial circumstances.
• They have appropriate professional liability insurance (financial loss liability insurance).
• They possess sufficient expertise and can demonstrate it.
• Their main office is in Germany.

If you employ people who assist with placement or advice, or who are responsible for this activity in a managerial position, they must also have proof of expertise and be reliable.

Documents required

• Identity card or other official identification document with photo
• Proof of application for a certificate of good conduct for submission to an authority
• Proof of application for an extract from the Central Trade Register for submission to an authority
• Extract from the debtors' register of the enforcement court
• Information from the insolvency court as to whether insolvency proceedings have been opened,
• If applicable, a tax certificate from the tax office.
• If applicable, a tax clearance certificate from the local tax office.
• Proof of professional liability insurance or equivalent guarantee,
• Certificate of competence
• Extract from the commercial register for legal entities and commercial partnerships if registered accordingly; otherwise, a copy of the articles of association or bylaws.

Please note

Deadlines

Deadlines may apply during the course of the proceedings. Please inquire about these with the responsible authority.

Procedure

• You submit your application, along with the required documents, to the responsible authority.
  • Along with the application for a permit, you can already submit the application for registration in the intermediary register.
• The responsible authority will check, based on your information and submitted documents, whether you meet the requirements.
• After review, you will receive the permit.
• Once permission has been granted, you may commence the activity.

Processing time

The responsible office can provide you with more detailed information about the current processing time.

Fees

There are costs involved. Please inquire about these with the relevant authority.

Legal remedies

Contradiction


administrative court action

Legal basis

Section 34i of the Trade Regulation Act (GewO)


https://www.gesetze-im-internet.de/gewo/__34i.html


Real Estate Loan Brokerage Ordinance (ImmVermV)


https://www.gesetze-im-internet.de/immvermv/


Section 11a paragraph 1 of the Trade Regulation Act (GewO)


https://www.gesetze-im-internet.de/gewo/__11a.html


Section 491 paragraph 3 of the German Civil Code (BGB)


https://www.gesetze-im-internet.de/bgb/__491.html


Section 506 of the German Civil Code (BGB)


URL: https://www.gesetze-im-internet.de/bgb/__506.html