{"id":3611,"date":"2016-05-10T08:52:03","date_gmt":"2016-05-10T06:52:03","guid":{"rendered":"https:\/\/www.fma.gv.at\/en\/?page_id=3611"},"modified":"2023-10-18T12:58:54","modified_gmt":"2023-10-18T10:58:54","slug":"austrian-credit-institutions-in-the-eea-under-the-freedom-to-provide-services-and-freedom-of-establishment","status":"publish","type":"page","link":"https:\/\/www.fma.gv.at\/en\/banks\/licensing-notification\/austrian-credit-institutions-in-the-eea-under-the-freedom-to-provide-services-and-freedom-of-establishment\/","title":{"rendered":"Austrian credit institutions in the EEA under the freedom to provide services and freedom of establishment"},"content":{"rendered":"<?xml encoding=\"utf-8\" ?><p>This page describes the criteria that are to be fulfilled for Austrian credit institutions to conduct their business in the <abbr title=\"European Economic Area\">EEA<\/abbr> . A distinction is made between &ldquo;establishing or operating a branch&rdquo; and &ldquo;exercising of freedom to provide services&rdquo;.<\/p><p>\n<div class=\"card\">  <div class=\"card-header\" id=\"heading-6a29e7356fe3c\">    <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-6a29e7356fe3c\" aria-expanded=\"false\" aria-controls=\"collapse-heading-6a29e7356fe3c\">        <span>Establishing or operating a branch<\/span>        <i class=\"fa-solid fa-chevron-down text-primary\" aria-hidden=\"true\"><\/i>      <\/button>    <\/h2>  <\/div>  <div id=\"collapse-heading-6a29e7356fe3c\" class=\"collapse\" aria-labelledby=\"heading-6a29e7356fe3c\">    <div class=\"card-body\"><p><\/p><p>If it is intended to establish a branch, then the following information\/documentation are to accompany the notification submitted to the Financial Market Authority via the Incoming Platform pursuant to Article 10 para. 2 Austrian Banking Act (BWG &ndash; Bankwesengesetz):<\/p><ul>\n<li>the <strong><abbr title=\"European Economic Area\">EEA<\/abbr>  Member State<\/strong>, in whose territory the branch is intended to be established<\/li>\n<li>the <strong>programme of operations<\/strong> of the branch (see pdf download below)<\/li>\n<li>the <strong>address<\/strong>, at which documentation about the credit institution may be requested in the host Member State<\/li>\n<li>the names of (at least two)<strong> responsible managers<\/strong> of the branch.<\/li>\n<\/ul><p>The contents shall correspond with the requirements of Implementing Regulation (EU No 926\/2014 of the European Commission of 27.08.2014 (Annexes I and III).<\/p><p>The FMA transmits the notification to the competent authority in the host Member State and the information pursuant to Article&nbsp;10 para.&nbsp;4 BWG including all attached annexes within three months of all information being received. The credit institution receives a confirmation letter from the <abbr title=\"Financial Market Authority\">FMA<\/abbr>  as soon as the notification has been forwarded.<\/p><h3>Establishment of the branch and commencement of business operations<\/h3><p>Once a notification has been received from the competent authority in the host Member State or &ndash; in the event that no statement is forthcoming &ndash; once an additional two month period following the confirmation of receipt by the FMA, the branch can be established and business operations commenced.<\/p><h3>Change in branch particulars or termination of operation of a branch<\/h3><p>Changes in the conditions of information pursuant to Article 10 para. 2 nos. 2 to 4 and Article 10 para.&nbsp;4 nos.&nbsp;2 to 6 shall be notified in writing to the <abbr title=\"Financial Market Authority\">FMA<\/abbr>  at least one month prior to implementation. Please use the forms on the Incoming Platform for this purpose!<\/p><p>    <\/div>  <\/div><\/div><p>\n<div class=\"card\">  <div class=\"card-header\" id=\"heading-6a29e7356fea5\">    <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-6a29e7356fea5\" aria-expanded=\"false\" aria-controls=\"collapse-heading-6a29e7356fea5\">        <span>Exercising the freedom to provide services<\/span>        <i class=\"fa-solid fa-chevron-down text-primary\" aria-hidden=\"true\"><\/i>      <\/button>    <\/h2>  <\/div>  <div id=\"collapse-heading-6a29e7356fea5\" class=\"collapse\" aria-labelledby=\"heading-6a29e7356fea5\">    <div class=\"card-body\"><p><\/p><p>If activities are to be commenced for the first time in an <abbr title=\"European Economic Area\">EEA<\/abbr>  Member State, then the following information\/documentation must accompany the notification submitted to the Financial Market Authority via the Incoming Platform pursuant to Article 10 para. 6 BWG:<\/p><ul>\n<li>the <strong><abbr title=\"European Economic Area\">EEA<\/abbr>  Member State<\/strong>(s), in which the credit institution wishes to be active,<\/li>\n<li>the <strong>activities listed in Annex I to Directive 2013\/36\/EU<\/strong>, which the credit institution would like to conduct under the freedom to provide services,<\/li>\n<li>a <strong>contact person<\/strong> for matters relating to the freedom to provide services.<\/li>\n<\/ul><p>The contents shall correspond with the requirements of Implementing Regulation (EU No 926\/2014 of the European Commission of 27.08.2014 (Annex V).<\/p><p>A credit institution wishing to conduct business activities under the freedom to provide services in another <abbr title=\"European Economic Area\">EEA<\/abbr>  Member State for the first time, must notify the <abbr title=\"Financial Market Authority\">FMA<\/abbr>  of this intention via the <a href=\"https:\/\/webhost.fma.gv.at\/IncomingPlattform\/\">Incoming Platform<\/a>. The following information must be included with this notification:<\/p><p>    <\/div>  <\/div><\/div><p>\n<\/p><h2>Further information<\/h2><p>\n<div id=\"reference-6a29e7356fef7\" class=\"reference\"><h3 class=\"reference-heading\"><span class=\"fa-solid fa-download fa-fw\" aria-hidden=\"true\"><\/span>Downloads<\/h3><p><\/p><p>\n<a href=\"\/wp-content\/plugins\/dw-fma\/download.php?d=1148&nonce=95ac803e86b17044\" class=\"internal single-document-reference piwik_download\">EEA Freedom of Establishment (<span class=\"sr-only\">Format: <\/span>pdf, <span class=\"sr-only\">Size: <\/span>52,3 KB, <span class=\"sr-only\">Language: <\/span>English)<\/a>\n<a href=\"\/wp-content\/plugins\/dw-fma\/download.php?d=1147&nonce=bda85ac4233f6a00\" class=\"internal single-document-reference piwik_download\">EEA Freedom to Provide Services (<span class=\"sr-only\">Format: <\/span>pdf, <span class=\"sr-only\">Size: <\/span>49,4 KB, <span class=\"sr-only\">Language: <\/span>English)<\/a>\n<\/p><p><\/div><p>\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This page describes the criteria that are to be fulfilled for Austrian credit institutions to conduct their business in the &#8230;<\/p>\n","protected":false},"author":20,"featured_media":0,"parent":3598,"menu_order":2,"comment_status":"closed","ping_status":"closed","template":"","meta":{"inline_featured_image":false,"footnotes":""},"class_list":["post-3611","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - 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