Gambling License Germany
Foreign 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.
Then, the European Union Court of Justice issued an edict that Germany’s 2012 Gambling Treaty violated EU free-trade agreements, in a argument that largely paralleled the Hessian court ruling. Both bodies found that the German licensing plan was opaque and arbitrary, with the only reason for the 20-license limit appearing to be that Germany. Germany is one of the biggest and also the most developed country in Europe. However, the thing with this country is that it consists of numerous states and that each one of them has pretty big autonomy when it comes to legal regulations. This refers to gambling as well. Things are quite complicated here. On one side, land based casinos are under the jurisdiction of states, while the online.
Obtaining a special permit in Germany
As mentioned above, someGerman 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. Our team of lawyers can help you obtain this license in case you want to open a bank. Also, in case you want to open any other business you will need abank account in Germany and our lawyers can help you open one.
The special license for cross-border financial institutions in Germany
Well, not every online casino or gambling site offers service to gamblers in Germany. In fact, due to legislation and restrictions, a lot of companies choose to skip out on offering service to German players. The federal gambling treaty which is approved in March allows the gambling operators to apply for a sports betting license in Germany. The licenses are expected to be issued in January 2020 and would be valid until the end of June 2021.
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.
Gambling Authority Germany
The gambling license in Germany
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 permitsfor 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.