{"id":3609,"date":"2016-04-28T09:19:22","date_gmt":"2016-04-28T07:19:22","guid":{"rendered":"https:\/\/www.fma.gv.at\/en\/?page_id=3609"},"modified":"2023-10-17T18:31:20","modified_gmt":"2023-10-17T16:31:20","slug":"freedom-to-provide-services-and-of-establishment-in-the-eea","status":"publish","type":"page","link":"https:\/\/www.fma.gv.at\/en\/banks\/licensing-notification\/freedom-to-provide-services-and-of-establishment-in-the-eea\/","title":{"rendered":"Freedom to Provide Services and of Establishment in the EEA"},"content":{"rendered":"<?xml encoding=\"utf-8\" ?><p>This page describes how banks that have the necessary permission in their Member State may also operate in the European Economic Area, and in what form.<\/p><p>\n<div class=\"card\">  <div class=\"card-header\" id=\"heading-6a29e6f31cb6b\">    <h2 class=\"mb-0\">      <button class=\"btn btn-link btn-block text-left p-0 d-flex align-items-center justify-content-between\" type=\"button\" data-toggle=\"collapse\" data-target=\"#collapse-heading-6a29e6f31cb6b\" aria-expanded=\"false\" aria-controls=\"collapse-heading-6a29e6f31cb6b\">        <span>Legal background<\/span>        <i class=\"fa-solid fa-chevron-down text-primary\" aria-hidden=\"true\"><\/i>      <\/button>    <\/h2>  <\/div>  <div id=\"collapse-heading-6a29e6f31cb6b\" class=\"collapse\" aria-labelledby=\"heading-6a29e6f31cb6b\">    <div class=\"card-body\"><p><\/p><p>The provision of banking activities on a cross-border basis is covered in detail in <a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/?uri=CELEX%3A32013L0036\" target=\"_blank\" rel=\"noopener\" class=\"external\">Directive 2013\/36\/EU (<abbr title=\"Capital Requirements Directive\">CRD<\/abbr> )<\/a>. Access to the activity of credit institutions and the supervision of credit institutions and investment firms are covered in the <abbr title=\"Capital Requirements Directive\">CRD<\/abbr> . The relevant rules can be found in Articles 33 to 39 CRD.&nbsp;The corresponding implementation under national law is contained in Articles 9 to 19 of the Banking Act (BWG; Bankwesengesetz).<\/p><p>In addition there is further clarification of the passporting procedure in two Regulations issued at EU level.<\/p><p><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/?uri=CELEX:32014R1151\" target=\"_blank\" rel=\"noopener\" class=\"external\">Delegated Regulation (EU) No 1151\/2014 on the right of establishment and the freedom to provide services<\/a><\/p><p><a href=\"https:\/\/eur-lex.europa.eu\/legal-content\/EN\/TXT\/?uri=CELEX:32014R0926\" target=\"_blank\" rel=\"noopener\" class=\"external\">Commission Implementing Regulation (EU) No 926\/2014: standard forms, templates and procedures for notifications<\/a><\/p><p>    <\/div>  <\/div><\/div><p>\n<div class=\"card\">  <div class=\"card-header\" id=\"heading-6a29e6f31cc02\">    <h2 class=\"mb-0\">      <button class=\"btn btn-link btn-block text-left p-0 d-flex align-items-center justify-content-between\" type=\"button\" data-toggle=\"collapse\" data-target=\"#collapse-heading-6a29e6f31cc02\" aria-expanded=\"false\" aria-controls=\"collapse-heading-6a29e6f31cc02\">        <span>European Passport\/Notification<\/span>        <i class=\"fa-solid fa-chevron-down text-primary\" aria-hidden=\"true\"><\/i>      <\/button>    <\/h2>  <\/div>  <div id=\"collapse-heading-6a29e6f31cc02\" class=\"collapse\" aria-labelledby=\"heading-6a29e6f31cc02\">    <div class=\"card-body\"><p><\/p><p>Credit institutions authorised in an <abbr title=\"European Economic Area\">EEA<\/abbr>  Member State are in principle already authorised on the basis of their authorisation\/licence in their Home State to also provide banking operations in other Member States (single licence principle). Cross-border activities may either be conducted through a branch (&rdquo;freedom of establishment&rdquo;) or under the freedom to provide services. The intention to conduct banking activities on a cross-border basis either under the right of establishment or the freedom to provide services, must be notified by the credit institution to the respective supervisory authority.<\/p><h3>Notification for Austrian credit institutions<\/h3><p>Austrian credit institutions must inform the Financial Market Authority of their intended activities in another <abbr title=\"European Economic Area\">EEA<\/abbr>  country. The Austrian Financial Market Authority then informs the competent supervisory authority in the country in which the credit institution intends to conduct activities.<\/p><h3>Notification for credit institutions incorporated in other Member States wishing to conduct activities in Austria<\/h3><p>Credit institutions incorporated outside of Austria but within the <abbr title=\"European Economic Area\">EEA<\/abbr> , must notify their home supervisory authority of their intention to conduct activities in Austria. This authority must in turn inform the Financial Market Authority of this intention. Details about the process for doing so can be found in the links below.<\/p><p>    <\/div>  <\/div><\/div><p>\n<\/p><h2>Further information:<\/h2><p>\n<div id=\"reference-6a29e6f31cc49\" class=\"reference\"><h3 class=\"reference-heading\"><span class=\"fa-solid fa-link fa-fw\" aria-hidden=\"true\"><\/span>Links<\/h3><p><\/p><p><a href=\"https:\/\/www.fma.gv.at\/en\/banks\/licencing-notification\/austrian-credit-institutions-in-the-eea-under-the-freedom-to-provide-services-and-freedom-of-establishment\/\">Austrian credit institutions operating in the EEA under the Freedom of Establishment and Freedom to Provide Services<\/a><\/p><p><a href=\"https:\/\/www.fma.gv.at\/en\/banks\/licencing-notification\/eea-banks-in-austria-under-the-freedom-to-provide-services-and-freedom-of-establishment\/\">EEA banks operating in Austria under the Freedom to Provide Services and the Freedom of Establishment<\/a><\/p><p><\/div><p>\n<\/p><p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This page describes how banks that have the necessary permission in their Member State may also operate in the European &#8230;<\/p>\n","protected":false},"author":20,"featured_media":0,"parent":3598,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"footnotes":""},"class_list":["post-3609","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Freedom to Provide Services and of Establishment in the EEA - FMA \u00d6sterreich<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fma.gv.at\/en\/banks\/licensing-notification\/freedom-to-provide-services-and-of-establishment-in-the-eea\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Freedom to Provide Services and of Establishment in the EEA - FMA \u00d6sterreich\" \/>\n<meta property=\"og:description\" content=\"This page describes how banks that have the necessary permission in their Member State may also operate in the European ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.fma.gv.at\/en\/banks\/licensing-notification\/freedom-to-provide-services-and-of-establishment-in-the-eea\/\" \/>\n<meta property=\"og:site_name\" content=\"FMA \u00d6sterreich\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-17T16:31:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.fma.gv.at\/wp-content\/uploads\/2017\/05\/FMA_FB_Logo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"925\" \/>\n\t<meta property=\"og:image:height\" content=\"524\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@FMA_AT\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.fma.gv.at\\\/en\\\/banks\\\/licensing-notification\\\/freedom-to-provide-services-and-of-establishment-in-the-eea\\\/\",\"url\":\"https:\\\/\\\/www.fma.gv.at\\\/en\\\/banks\\\/licensing-notification\\\/freedom-to-provide-services-and-of-establishment-in-the-eea\\\/\",\"name\":\"Freedom to Provide Services and of Establishment in the EEA - FMA \u00d6sterreich\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.fma.gv.at\\\/en\\\/#website\"},\"datePublished\":\"2016-04-28T07:19:22+00:00\",\"dateModified\":\"2023-10-17T16:31:20+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.fma.gv.at\\\/en\\\/banks\\\/licensing-notification\\\/freedom-to-provide-services-and-of-establishment-in-the-eea\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.fma.gv.at\\\/en\\\/banks\\\/licensing-notification\\\/freedom-to-provide-services-and-of-establishment-in-the-eea\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.fma.gv.at\\\/en\\\/banks\\\/licensing-notification\\\/freedom-to-provide-services-and-of-establishment-in-the-eea\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.fma.gv.at\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Banks\",\"item\":\"https:\\\/\\\/www.fma.gv.at\\\/en\\\/banks\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Licensing &amp; 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