Fund and asset management · BaFin
German capital management company (KVG) authorisation (BaFin)
Germany holds one of the largest institutional investor bases in Europe, much of it allocating through domestic special funds designed for exactly that purpose. A German capital management company sits inside that ecosystem rather than knocking on its door from outside.
The regulator
BaFin authorises and supervises capital management companies under the Capital Investment Code, applying detailed expectations on risk management, valuation independence, and delegation. It is methodical, thorough, and unresponsive to commercial urgency.
What the licence permits
Regulated under the BaFin
- Manage alternative investment funds and UCITS from Germany
- Provide discretionary portfolio management where permitted
- Serve German institutional allocators through domestic vehicles
- Passport fund management and marketing across the EEA
Who it suits
Managers seeking German institutional capital, particularly those building products for domestic institutional investors.
Market access
EEA passporting from the largest economy in the bloc, with direct access to German institutional allocators.
What to weigh
Expect a long and detailed assessment and firm views on where portfolio management genuinely sits. German substance has to be real, not a delegation arrangement in reverse.
We run the Germany application end to end
Whether you build from new or acquire an existing licensed entity, BrokLicense handles incorporation, the regulator application, the AML and compliance framework, safeguarding and banking arrangements, and the operating stack. You stay the principal. We do the work, in confidence, and stay on for compliance once you are live.
Cost, capital, and timelines depend on your model and are set out in a first consultation, under NDA, not published here.
Other permissions in Germany
Related reading
- Fund Manager or Investment Firm? Choosing the Right Asset-Management AuthorisationManaging mandates and managing funds are different regulated activities under different regimes. Applying under the wrong one costs a year and a rejection.
- The MiFID Investment Firm Licence: What the Permissions Actually CoverA MiFID licence is not one permission but a set you choose from. The combination you pick sets your capital, your obligations, and your supervisory weight.
- Licensing an Investment-Management Firm: What Changes When You Manage Other People's MoneyRunning an asset or portfolio manager sits under a different permission than broking. Here is what the licence covers and what regulators expect.
- EU Passporting Explained: One Licence, Thirty MarketsA single EU investment-firm licence works across the whole European Economic Area. Here is how passporting works and why it shapes where firms base.
Fund and asset management in other Europe jurisdictions
- United KingdomFCA
- ItalyBanca d'Italia / CONSOB
- SpainCNMV
- AustriaFMA
- IrelandCentral Bank of Ireland
- SwitzerlandFINMA
Discuss your mandate in confidence
Every engagement begins under a mutual NDA. Set out the firm you intend to operate and the timeline you are working to, and you leave the first consultation with a recommended jurisdiction, the route to the licence, and a defined scope of work.
Prefer email? info@broklicense.com