Apply for a license as a financial investment broker

You must apply to the competent authority for permission to act as a fee-based financial investment advisor. Individuals (natural persons) apply for the license themselves or through an authorized third party. In the case of legal entities, the application is submitted by their legal representatives or by third parties authorized in writing.

Once you have submitted the application and all documents are complete, the competent authority will check whether you meet all requirements.

If you meet all the requirements, you will be granted a license as a professional fee-based financial investment advisor in the form of a license notice.

You may only start your activity once you have received the license. At the same time as commencing the activity, you must notify the trade to the authority responsible for trade notifications in accordance with Section 14 GewO. In addition, you must submit an application for entry in the register pursuant to Section 11a (1) of the Trade, Commerce and Industry Regulation Act immediately after commencing work as a fee-based financial investment advisor.

Please contact the relevant trade office.

Alternatively, you can contact the Single Point of Contact in Rhineland-Palatinate. The Single Point of Contact is a public body through which you can handle all administrative procedures and formalities required for the commencement and exercise of your service activity and for the recognition of a foreign professional qualification. Further information can be found on the website of the Point of Single Contact.

• Webseite - Einheitlicher Ansprechpartner Rheinland-Pfalz

In order to be granted a license as a professional fee-based financial investment advisor, you must

• be personally reliable,
• have orderly financial circumstances and
• have professional indemnity insurance and
• have successfully passed an expert examination at a Chamber of Industry and Commerce or an equivalent professional qualification.

If the license is applied for by submitting the § 34f license certificate (for financial investment brokers), no examination of reliability, financial circumstances and expertise is carried out. The § 34f license expires when the § 34h license for fee-based financial investment advisors is issued.

• Identity card or comparable identification document (copy)
• Non-EU citizens: residence permit (copy)
• Proof of the legal form of the company
• Registered office in Germany: in the case of registered companies, a current extract from the register, otherwise the articles of association or statutes
• Registered office abroad: documents from this country proving the legal form.
• Personal reliability
• Residence in Germany: Certificate of good conduct for submission to an authority, information from the central trade register for submission to authorities
• Residence abroad: Documents from your home country proving your personal reliability to perform the desired service.
• Orderly financial circumstances
• Extract from the debtor register of the central enforcement court
• Information from the insolvency court as to whether proceedings have been opened (so-called negative certificate)
• Proof of existing professional liability insurance (certificate in sample wording)
• Proof of expertise (IHK certificate of expertise or proof of equivalent professional qualification)
• Translation of the (foreign-language) extract from the commercial register, if applicable

Please note:

• • In the case of (commercial) partnerships, each managing partner must submit an application and the required documents.

Is based on the respective administrative fee schedule of the federal state or on the fee statutes of the authorities responsible under federal state law.

The permit must be issued before the start of the activity; it is therefore necessary to submit the application in good time (several weeks before the intended start of operations).

At the same time, you must notify the office responsible for business registrations of the start of your activity.

§ Section 34f (1) of the Trade Regulation Act (GewO)

• $ 34f Trade Regulation Act

In addition to the license, you must also be entered in the register of intermediaries. Persons directly involved in providing advice must also be entered in the register of intermediaries.

You may only employ persons directly involved in providing advice if you ensure that these persons have a certificate of competence and have checked that they are reliable.

Violations of the "required" licensing obligation and violations of enforceable conditions constitute administrative offenses that are punishable by a fine.

01.04.2025