A court in Germany has ruled that the 20-license cap on sports betting licenses under the country’s Interstate Treaty on Gambling is illegal, a move that opens up the market to the rest of the European Union. Since gambling licences are generally non-transferable in Germany, creditors may not obtain a licence by way of an asset deal in an insolvency proceeding, but a new licensing procedure is usually. On 13 August 2019 the competent gambling licensing authority of Hesse, the Darmstadt Regional Council, held an informational meeting on the upcoming 2020 sports betting licensing procedure in Germany. The four jurisdictions in Europe were an online gambling site can apply for a license are Alderney, Isle Of Man, Malta, and Gibraltar. A site does not need to acquire more than one license (although some have) and each location has its own individual benefits.
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.
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.
Gambling Authority Germany
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.
Gambling License In Germany
The special license for cross-border financial institutions in Germany
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.
The 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.