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Hamburg Chamber of Commerce

Financial investment broker license

As a financial investment broker, you are limited to certain financial products by the so-called area exemption of the Banking Act. The permit covers (optionally) three product categories: Shares or shares in domestic open Investment...

As a financial investment broker, you are limited to certain financial products by the so-called area exemption of the Banking Act. The permit covers (optionally) three product categories:

  • Shares or shares in domestic open
  • Investment funds, open-ended EU investment funds or foreign open-ended investment funds that may be marketed in accordance with the Capital Investment Code
  • Units or shares in domestic closed-end investment funds, closed-end EU investment funds or foreign closed-end investment funds that may be sold under the Capital Investment Code
In addition to the permit, you must also be entered in the register of intermediaries. You can submit the application for this together with the permit application.
Your permission can be restricted in terms of content and linked to ancillary provisions if this is necessary from the point of view of the authority for the protection of the general public or the client.
Subsequent inclusion, modification and addition of conditions are also permitted under the same conditions.

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Address and contact information

Address

Hamburg Chamber of Commerce
Branch / Clusters / On-site division
Adolphsplatz 1 20457 Hamburg

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Facility info

Mensch in einem Rollstuhl Accessible

Public transport

U3/Busse 3/4/5/19/X35/X80 Rathaus

Important notes

Prerequisites

  • The reliability necessary for business operations, i.e. you have not been convicted of fraud or other crimes in the past 5 years
  • orderly financial circumstances, ie you are not in personal bankruptcy or are entered in the debtor register
  • Professional liability insurance with a minimum coverage of 1,130,000.00 euros for each insured event and 1,700,000.00 euros for all insured events in a year.
  • Expertise through a passed IHK examination or through equivalent training qualifications and possibly corresponding work experience

Documents required

  • Proof of personal reliability:
    • Certificate of good conduct and information from the central trade register
  • Proof of orderly financial circumstances:
  • Information from the bankruptcy court as to whether proceedings have been opened (so-called negative certificate)
  • Extract from the debtor register of the central enforcement court
  • Proof of an existing financial loss liability insurance (certificate in sample wording)
  • Certificate of competence (certificate of IHK competence examination or proof of equivalent professional qualification, see also further information)
  • For legal entities and commercial partnerships: extract from the commercial register for the country in which the company's main headquarters are located
  • If necessary, translation of the (foreign language) extract from the commercial register

Please note

Brokers within the meaning of Section 2 Paragraph 1 Number 10 of the German Banking Act (KWG) are exempt from the requirement to obtain a permit. They are entered in a public register maintained by the Federal Financial Supervisory Authority (BaFin).

Deadlines

No

Procedure & Fees

Procedure

You send the application for permission with all supporting documents to the responsible body.
The authority uses your information and documents to check whether the legal requirements for granting a permit have been met
  • If you meet the requirements, you will receive permission in writing by post
  • If you have not already applied for entry in the register of intermediaries together with the permit, you must be entered in the register of intermediaries before you can act.

Processing time

As soon as all documents are complete, processing takes place within several weeks.

Fees

There will be charges. Please call for the amount of the fee.

Legal notes

Legal basis



§ 34f Trade Regulations (GewO)

Financial investment brokerage ordinance

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