responsibility finder
Schleswig-Holstein

Show distribution of European alternative investment funds or special funds of a domestic capital management company to semi-professional or professional investors in Germany

Source: Zuständigkeitsfinder Schleswig-Holstein (Linie6PLus)

Service Description

Alternative investment funds (AIFs) are collective investment undertakings that collect capital from a number of investors in order to allocate it to the benefit of those investors in accordance with a defined investment strategy. These undertakings are

  • not an operationally active company outside the financial sector, and
  • not undertakings for collective investment in transferable securities (UCITS).

If domestic AIFs are marketed only to professional or semi-professional investors, they are referred to as special AIFs.

If an AIF is subject to the law of another member state of the European Union or another contracting state to the Agreement on the European Economic Area, it is referred to as an EU AIF.

If you, as a domestic AIF management company, wish to market an EU AIF or a special AIF to professional or semi-professional investors in Germany, you must notify the German Federal Financial Supervisory Authority (BaFin) in advance.


Process flow

You can informally register the distribution of EU AIFs or special AIFs in Germany online.

Online registration:

  • Create an informal letter.
  • Attach the required documents.
  • Register with the notification and publication platform (MVP Portal) of BaFin.
  • Send all documents to BaFin via the MVP Portal.
  • You will receive a notification.
  • Transfer the fees.
Requirements

You want to market EU AIFs or special AIFs in the Federal Republic of Germany as a domestic capital management company.

Which documents are required?

Attach the following information and documents to the notification:

  • Business plan containing details of the notified AIF as well as its registered office.
  • Terms of investment, articles of association or partnership agreement of the notified AIF
  • Name of the depositary of the notified AIF
  • Description of the AIF being advertised and all information available to investors about the AIF being advertised.
  • Details of the registered office of the master AIF and its management company, if the AIF being notified is a feeder AIF
  • All further information referred to in Section 307 (1) of the German Investment Code (Kapitalanlagegesetzbuch - KAGB) for each notified AIF to be made available to potential investors, such as a description of the investment strategy and objectives of the AIF, the type of assets and any investment restrictions.
  • Information on the arrangements made to prevent units or shares of the notified AIF from being marketed to retail investors, in particular where the AIF management company uses independent undertakings for the provision of investment services to the notified AIF.
What deadlines do I have to pay attention to?

You must notify the marketing of EU AIFs or special AIFs before it begins.

Processing duration

Within 20 working days after receipt of the complete documents, the German Federal Financial Supervisory Authority (BaFin) will inform you whether you can start marketing the AIF mentioned in the letter to semi-professional and professional investors within the scope of this Act with immediate effect.

Legal basis
Appeal
  • Appeal
  • Detailed information on how to file an appeal can be found in the decision on your application.
  • Action before the administrative court if your objection is rejected
Technically approved by

Federal Ministry of Finance (BMF)

Process flow

You can informally register the distribution of EU AIFs or special AIFs in Germany online.

Online registration:

  • Create an informal letter.
  • Attach the required documents.
  • Register with the notification and publication platform (MVP Portal) of BaFin.
  • Send all documents to BaFin via the MVP Portal.
  • You will receive a notification.
  • Transfer the fees.

Requirements

You want to market EU AIFs or special AIFs in the Federal Republic of Germany as a domestic capital management company.

Which documents are required?

Attach the following information and documents to the notification:

  • Business plan containing details of the notified AIF as well as its registered office.
  • Terms of investment, articles of association or partnership agreement of the notified AIF
  • Name of the depositary of the notified AIF
  • Description of the AIF being advertised and all information available to investors about the AIF being advertised.
  • Details of the registered office of the master AIF and its management company, if the AIF being notified is a feeder AIF
  • All further information referred to in Section 307 (1) of the German Investment Code (Kapitalanlagegesetzbuch - KAGB) for each notified AIF to be made available to potential investors, such as a description of the investment strategy and objectives of the AIF, the type of assets and any investment restrictions.
  • Information on the arrangements made to prevent units or shares of the notified AIF from being marketed to retail investors, in particular where the AIF management company uses independent undertakings for the provision of investment services to the notified AIF.

What deadlines do I have to pay attention to?

You must notify the marketing of EU AIFs or special AIFs before it begins.

Processing duration

Within 20 working days after receipt of the complete documents, the German Federal Financial Supervisory Authority (BaFin) will inform you whether you can start marketing the AIF mentioned in the letter to semi-professional and professional investors within the scope of this Act with immediate effect.

Legal basis

Appeal

  • Appeal
  • Detailed information on how to file an appeal can be found in the decision on your application.
  • Action before the administrative court if your objection is rejected

Technically approved by

Federal Ministry of Finance (BMF)

Further information and offers