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If you want to work commercially as a pawnbroker or pawnbroker, you need a license.
The pawnbroker grants a loan of money against the deposit of a pledge to secure the loan together with interest and the costs of business operations.
The pawnbroker brokers pawn transactions by granting an advance on pledges handed over to him/her and pledging the pledges in his/her name with a pawnbroker.
Anyone wishing to operate the business of a pawnbroker or pawnbroker requires the permission of the competent authority. The permit may be subject to conditions if this is necessary to protect the general public or the pledger.
In the case of partnerships (e.g. OHG, KG), the trader is each managing partner. In the case of legal entities (e.g. GmbH, AG), the permit is granted to the legal entity.
If you want to work as a pawnbroker, you must provide special securities and evidence.
Permission will be refused if:
You must apply to the competent authority for a license to operate a business as a pawnbroker or pawnbroker.
After the examination, you will either receive the permit or a rejection notice. A permit may be subject to certain conditions.
You must apply for the permit before starting your business. You are only entitled to exercise the trade after the permit has been issued.
The pawnbroker must notify the competent authority which rooms he/she uses for the business operation at the start of the business operation; furthermore, he/she must immediately notify any change of rooms used for the business operation.
The pawnbroker is obliged to keep records.