Open a Financial Company in Germany
Open a Financial Company in GermanyUpdated on Friday 10th April 2020
Rate this article
based on 1 reviews.
based on 1 reviews.
Germany is a powerful economic center in Europe, with a highly developed and complex market. It is only natural for a country like this to host many financial firms, which have as a main focus the administration of their clients’ money. When you open a financial company in Germany you can manage the assets of natural persons or companies alike. Preliminary to the formation process for your enterprise you can address our German lawyers who can offer you a concise introduction on the local Company Law and facilitate your task as investor in this country.
The activity of a financial company in Germany
There are several main tasks that a financial company will offer to its clients, which refer to investing, holding or exchanging assets for them. However due to the increasingly complex finance in Germany, the activities and tasks of foreign investors who have opened financial enterprises have specialized and became more and more numerous.
The most recurrent types of financial enterprises in Germany are the banks. The financial services provided by banks are transfers, account administration or loans. Recently the banks have diversified as well their offer in terms of financial services. Another type of financial company in Germany is the insurance companies who not only prevent your assets form loss, but who involve as well in active investments.
If you are considering starting a business in Germany in the finacial sector, our law firm can provide to foreign investors in this country further legal counselling on the opening of a financial company.
Steps in establishing a financial service company in Germany
Depending on the type of financial company that you want to set up in Germany, the costs might vary a lot as well as the time for the preparations. In order to launch a bank in Germany you should be prepared to invest at least six months in the implementation of the project until it will be ready to start its life on the market. For a smaller financial companies such as insurance firms, the costs are reduced significantly.
Nevertheless it is important that a person who invests in Germany, to allocate enough funds for advertisement so that your firm to become known in this state and worldwide. Additional expenditures will be spent on the registration with the authorities, on employment and the leasing of an appropriate space for your offices.
Feel free to contact our attorneys in Germany for complete information on the requirements for setting up a financial company in this country.