Open a Financial Company in Germany
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 the main focus on 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 to the local Company Law and facilitate your task as an 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 as their offer in terms of financial services. Another type of financial company in Germany is the insurance companies that not only prevent your assets from loss but who involve as well in active investments.
If you are considering starting a business in Germany in the financial sector, our law firm can provide to foreign investors in this country further legal counseling 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 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.
