*by Dr. Johannes Fiala, Attorney at Law (Munich), MBA Financial Services (Univ.), MM (Univ.), Certified Financial and Investment Advisor (A.F.A..), Lecturer for Civil and Insurance Law (BA Heidenheim, Univ. of Cooperative Education), (www.fiala.de)
Gewerbeerlaubnis zur Bausparkredit- und Darlehensvermittlung The Verwaltungsgerichtshof (VGH) Baden-Württemberg has already decided by its judgement of 29.04.1997 that the ?concept of real estate? is to be interpreted broadly. The permission according to § 34 c GewO as a real estate broker also requires who only mediates loans ? if a condition of the granting of credit is a land charge security.
Business license for real estate brokerage The additional business license not only costs more money ? it is also associated with ongoing follow-up costs due to the extended audit within the framework of the MaBV. If the district office has any suspicions, a more detailed investigation will be carried out. Violation of the obligation to obtain a sufficient business license beforehand can lead to a fine and an entry in the trade register. Reliability or good repute may also be affected.
Financial transfer business: transport of money and valuables to tax havens (Liechtenstein, Nassau, ?) Many an intermediary collects “tax-neutral” and other cash, especially for foreign asset managers. Corresponding ?messenger services? are subject to permission since 01.01.1998. The permission is granted by Bafin, §§ 1 I Nr.6, 32 KWG. The simple messenger activity does not fall under this regulation ? however the permission obligation begins if the funds of several clients are factually mixed due to further achievements. In individual cases, it is advisable to obtain a negative attestation before starting the activity.
The following question may arise on April 1 for spouses with a child: Both parents give their child money to deliver to the cashier at the Kramer store. Of course, the child should also go shopping (additional benefit) ? and, of course, the money from the child is also transported together in one pocket (mixing). What fee is then due for the permission of Bafin? And what are the costs of a Bafin special audit in the parents’ home, because of the financial transfer transactions of their child?
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About the author
Dr. Johannes Fiala has been working for more than 25 years as a lawyer and attorney with his own law firm in Munich. He is intensively involved in real estate, financial law, tax and insurance law. The numerous stages of his professional career enable him to provide his clients with comprehensive advice and to act as a lawyer in the event of disputes.
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