Service Finder
Apply for a license to act as a real estate loan broker
Service Description
You are a real estate loan broker if you wish to broker the conclusion of real estate consumer loan agreements within the meaning of Section 491 (3) of the German Civil Code (Bürgerliches Gesetzbuch) or corresponding financial assistance against payment within the meaning of Section 506 of the German Civil Code (Bürgerliches Gesetzbuch) on a commercial basis or wish to advise third parties on such agreements.
Permission may be granted to natural persons and legal entities.
Partnerships (commercial partnerships) such as the Gesellschaft bürgerlichen Rechts (GbR), the Offene Handelsgesellschaft (OHG) or the Kommanditgesellschaft (KG) cannot obtain the license. In these cases, each managing partner must apply for their own permit.
In addition to obtaining a license, you must be entered in the register of intermediaries immediately after commencing your activities.
Your license may be restricted in terms of content and subject to ancillary provisions if this is necessary to protect the general public or borrowers.
If you have a license as a real estate loan broker from another EU/EEA member state and only wish to operate temporarily in Germany under the freedom to provide services or as part of the establishment of a branch office, you do not require a license in Germany. However, you must notify the authorities in your home country of your intended activity.
Process flow
- In order to obtain a license as a real estate loan broker, you must submit a corresponding application together with the necessary documents to your authority.
- At the same time as your application, you can also apply for entry in the register of intermediaries, where you must state whether you are acting as a fee-based real estate loan advisor.
- The competent authority will check whether you meet the requirements based on the information you provide and the documents you submit.
- If you meet all the licensing requirements, you will receive the license.
Who should I contact?
To the trade office of the district, the independent city or the city belonging to the district.
Competent authority
Here you can find an overview of the official responsibilities for real estate loan brokers from the Association of German Chambers of Industry and Commerce: Responsibilities of real estate loan brokers
Requirements
- You must be personally reliable. This means that you have not been convicted of a crime or theft, embezzlement, blackmail, fraud, embezzlement, money laundering, forgery, receiving stolen goods, usury or an insolvency offense in the five years prior to submitting the application.
- This also applies to persons who are entrusted with the management of the company or a branch office.
- They must have orderly financial circumstances. This means, for example, that no insolvency proceedings have been opened against your assets or that you are not entered in the debtor register of the central enforcement court.
- You must have professional indemnity insurance or an equivalent guarantee.
- You must be knowledgeable, e.g. "Certified specialist for real estate loan brokerage IHK" or have an equivalent professional qualification.
- Your principal place of business or head office must be in Germany and you must carry out your activity as a real estate loan broker in Germany.
Which documents are required?
- Proof of personal reliability (e.g. certificate of good conduct for submission to an authority, information from the central trade register, certificate in tax matters from the tax office)
- Proof of orderly financial circumstances (e.g. information from the debtor register of the central enforcement court and information from the insolvency court)
- Proof of professional liability insurance or an equivalent guarantee
- Proof of expertise (e.g. certificate of having passed the Chamber of Industry and Commerce (IHK) examination or certificate of an equivalent professional qualification (see further information))
- Extract from the commercial register for legal entities and commercial partnerships
Please note:
You can find out which documents are required in your specific case on the application form from the competent authority.
What are the fees?
Fees apply. The exact amount can be found in the fee schedule of the local licensing authority or registry.
What deadlines do I have to pay attention to?
The permit is valid indefinitely.
Processing duration
Once all documents have been submitted, the application will be processed. This may take several weeks.
Legal basis
Applications / forms
You can appeal against the decision of the competent licensing authority on your application for a license.
Which legal remedies can be lodged (objection or appeal to the administrative court) varies from state to state. Detailed information on admissible legal remedies can be found in the information on legal remedies in the decision on your permit application.
Appeal
- Form: Application form of the competent licensing authority for natural or legal persons
- Written form requirement: no
- Personal appearance required: no
What else should I know?
The brokerage of loans not secured by mortgages and the brokerage of loans secured by mortgages to companies is subject to the licensing requirement pursuant to Section 34c (1) sentence 1 no. 2 GewO. If you wish to broker the conclusion of both real estate consumer loan agreements and other loan agreements, you therefore require a license in accordance with both § 34i Para. 1 S. 1 GewO and § 34c Para. 1 S. 1 No. 2 GewO.
After commencing your activity, you and the persons directly involved in brokering or advising or those in a managerial position responsible for this activity must be entered in the register of intermediaries.
Acting as a real estate loan broker without the required license is an administrative offense that can be punished with a fine. Violations of an enforceable condition, of the requirements of the ImmVermV that are subject to a fine and of the obligation to be entered in the register of intermediaries can also be punished as an administrative offense with a fine.
Comments
If you employ staff who are directly involved in brokerage and advice or are responsible for this activity in a managerial position, you must also have them entered in the register of intermediaries.
If you employ staff who are involved in brokerage or advice or are employed by you in a managerial position for this purpose, you must also ensure that these employees are also knowledgeable and reliable.
Further Information
Here you will find an overview of the professional qualifications that are equivalent to the expert examination: § 4 Real Estate Loan Brokerage Ordinance (ImmVermV)
Author
The text was automatically translated based on the German content.
Technically approved by
Thuringian Ministry of Finance
THURINGIAN MINISTRY OF ECONOMICS, SCIENCE AND DIGITAL SOCIETY
Professionally released on
01.12.2023
16.09.2020
Source: Zuständigkeitsfinder Thüringen (Linie6Plus)
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