With respect to Investment liberalisation – National treatment:
In AT: The management of a branch office must consist of at least two natural persons resident in AT.
In BG: Residency requirement for the members of managing and supervisory body of (re)insurance undertakings and every person authorised to manage or represent the (re)insurance undertaking.
The Chairperson of the Management Board, the Chairperson of the Board of Directors, the Executive Director and the Managerial Agent of pension insurance companies must have a permanent address or hold a durable residence permit in Bulgaria.
Measures:
AT: Insurance Supervision Act 2016, Article 14 para. 1 no. 3, Federal Law Gazette I No. 34/2015 (Versicherungsaufsichtsgesetz 2016, § 14 Abs. 1 Z 3, BGBl. I Nr. 34/2015)
BG: Insurance Code, articles 12, 56-63, 65, 66 and 80 paragraph 4,
Social Insurance Code, Art. 120a–162, Art. 209–253, Art. 260–310
With respect to Investment liberalisation – Market access, National treatment:
In BG: Before establishing a branch or agency to provide insurance, a foreign insurer or reinsurer must have been authorised to operate in its country of origin in the same classes of insurance as those it wishes to provide in BG.
The income of the supplementary voluntary pension funds, as well as similar income directly connected with voluntary pension insurance, carried out by persons who are registered under the legislation of another Member State and who may, in compliance with the legislation concerned, perform voluntary pension insurance operations, shall not be taxable according to the procedure established by the Corporate Income Tax Act.
In ES: Before establishing a branch or agency in Spain in order to provide certain classes of insurance, a foreign insurer must have been authorised to operate in the same classes of insurance in its country of origin for at least five years.
In PT: In order to establish a branch or agency, foreign insurance undertakings must have been authorised to carry out the business of insurance or reinsurance, according to the relevant national law for at least five years.
Measures:
BG: Insurance Code, articles 12, 56-63, 65, 66 and 80 paragraph 4,
Social Insurance Code, Art. 120a–162, Art. 209–253, Art. 260–310.
ES: Reglamento de Ordenación, Supervisión y Solvencia de Entidades Aseguradoras y Reaseguradoras (RD 1060/2015, de 20 de noviembre de 2015), article 36.
PT: Article 7 of Decree-Law 94-B/98 and chapter I, Section VI of Decree-Law 94-B/98, articles 34, nr. 6, 7, and article 7 of Decree-Law 144/2006; Article 215 of legal regime governing the taking up and pursuit of the business of insurance and reinsurance, approved by Law 147/2005, of September 9th.
With respect to Investment liberalisation – Market access:
In AT: In order to obtain a licence to open a branch office, foreign insurers must have a legal form corresponding or comparable to a joint stock company or a mutual insurance association in their home country.
In EL: Insurance and reinsurance undertakings with head offices in third countries may operate in Greece via establishing a subsidiary or a branch, where branch in this case does not take any specific legal form, as it means a permanent presence in the territory of a Member State (i.e. Greece) of an undertaking with head office outside EU, which receives authorisation in that Member State (Greece) and which pursues insurance business.
Measures:
AT: Insurance Supervision Act 2016, Article 14 para. 1 no. 1, Federal Law Gazette I No. 34/2015 (Versicherungsaufsichtsgesetz 2016, § 14 Abs. 1 Z 1, BGBl. I Nr. 34/2015).
EL: Art. 130 of the Law 4364/ 2016 (Gov. Gazette 13/ A/ 05.02.2016).
With respect to Cross-border trade in services – National treatment, Local presence:
In AT: Promotional activity and intermediation on behalf of a subsidiary not established in the Union or of a branch not established in AT (except for reinsurance and retrocession) are prohibited.
In DK: No persons or companies (including insurance companies) may, for business purposes, assist in effecting direct insurance for persons resident in DK, for Danish ships or for property in DK, other than insurance companies licensed by Danish law or by Danish competent authorities.
In SE: The supply of direct insurance by a foreign insurer is allowed only through the mediation of an insurance service supplier authorised in Sweden, provided that the foreign insurer and the Swedish insurance company belong to the same group of companies or have an agreement of cooperation between them.
With respect to Cross-border trade in services – Local presence:
In DE, HU and LT: The supply of direct insurance services by insurance companies not incorporated in the European Union requires the setting up and authorisation of a branch.
In SE: The provision of insurance intermediation services by undertakings not incorporated in the EEA requires the establishment of a commercial presence (local presence requirement).
In SK: Air and maritime transport insurance, covering the aircraft/vessel and responsibility, can be underwritten only by insurance companies established in the Union or by the branch office of the insurance companies not established in the Union authorised in the Slovak Republic.
Measures
AT: Insurance Supervision Act 2016, Article 13 para. 1 and 2, Federal Law Gazette I No. 34/2015 (Versicherungsaufsichtsgesetz 2016, § 13 Abs. 1 und 2, BGBl. I Nr. 34/2015)
DE: Versicherungsaufsichtsgesetz (VAG) for all insurance services; in connection with Luftverkehrs-Zulassungs-Ordnung (LuftVZO) only for compulsory air liability insurance.
DK: Lov om finansiel virksomhed jf. lovbekendtgørelse 182 af 18. februar 2015.
HU: Act LX of 2003.
LT: Law on Insurance, 18 of September, 2003 m. Nr. IX-1737, last amendment 13 of June 2019 Nr. XIII-2232.
SE: Lag om försäkringsförmedling (Insurance Distribution Mediation Act) (Chapter 3, section 3, 2018:12192005:405); and Foreign Insurers Business in Sweden Act (Chapter 4, section 1 and 10, 1998:293).
SK: Act 39/2015 on insurance.
(b) Banking and other financial services
With respect to Investment liberalisation – Market Access, National treatment, and Cross-border trade in services – Local presence:
In BG: For pursuing the activities of lending with funds which are not raised through taking of deposits or other repayable funds, acquiring holdings in a credit institution or another financial institution, financial leasing, guarantee transactions, acquisition of claims on loans and other forms of financing (factoring, forfeiting, etc.), non-bank financial institutions are subject to registration regime with the Bulgarian National Bank. The financial institution shall have its main business in the territory of Bulgaria.
In BG: Non-EEA banks may pursue banking activity in Bulgaria after obtaining a license from BNB for taking up and pursuing of business activities in the Republic of Bulgaria through a branch.
In IT: In order to be authorised to operate the securities settlement system or to provide central securities depository services with an establishment in Italy, a company is required to be incorporated in Italy (no branches).
In the case of collective investment schemes other than undertakings for collective investment in transferable securities ("UCITS") harmonised under Union legislation, the trustee or depository is required to be established in Italy or in another Member State and have a branch in Italy.
Management enterprises of investment funds not harmonised under Union legislation are also required to be incorporated in Italy (no branches).
Only banks, insurance enterprises, investment firms and enterprises managing UCITS harmonised under Union legislation having their legal head office in the Union, as well as UCITS incorporated in Italy, may carry out the activity of pension fund resource management.
In providing the activity of door-to-door selling, intermediaries must utilise authorised financial salesmen resident within the territory of a Member State.
Representative offices of non-European Union intermediaries cannot carry out activities aimed at providing investment services, including trading for own account and for the account of customers, placement and underwriting financial instruments (branch required).
In PT: Pension fund management may be provided only by specialised companies incorporated in PT for that purpose and by insurance companies established in PT and authorised to take up life insurance business, or by entities authorised to provide pension fund management in other Member States. Direct branching from non-European Union countries is not permitted.
Measures:
BG: Law on Credit Institutions, article 2, paragraph 5, article 3a and article 17
Code of Social Insurance, articles 121, 121b, 121f; and
Currency Law, article 3.
IT: Legislative Decree 58/1998, articles 1, 19, 28, 30-33, 38, 69 and 80;
Joint Regulation of Bank of Italy and Consob 22.2.1998, articles 3 and 41;
Regulation of Bank of Italy 25.1.2005;
Title V, Chapter VII, Section II, Consob Regulation 16190 of 29.10.2007, articles 17-21, 78-81, 91-111; and subject to:
Regulation (EU) No 909/2014 of the European Parliament and of the Council (9).
PT: Decree-Law 12/2006, as amended by Decree-Law 180/2007 Decree-Law 357-A/2007, Regulation 7/2007-R, as amended by Regulation 2/2008-R, Regulation 19/2008-R, Regulation 8/2009. Article 3 of the legal regime governing the establishment and functioning of pension funds and their management entities approved by Law 27/2020, of July 23rd.
With respect to Investment liberalisation – Market access, National treatment:
In HU: Branches of non-EEA investment fund management companies may not engage in the management of European investment funds and may not provide asset management services to private pension funds.
Measures:
HU: Act CCXXXVII of 2013 on Credit Institutions and Financial Enterprises;
and
Act CXX of 2001 on the Capital Market.
With respect to Investment liberalisation – National Treatment and Cross-border trade in services – Market access:
In BG: А bank shall be managed and represented jointly by at least two persons. The persons who manage and represent the bank shall be personally present at its management address. Legal persons may not be elected members of the managing board or the board of directors of a bank.
In SE: A founder of a savings bank shall be a natural person.
Measures:
BG: Law on Credit Institutions, article 10;
Code Of Social Insurance, article 121e; and
Currency Law, article 3.
SE: Sparbankslagen (Savings Bank Act) (1987:619), Chapter 2, § 1.
With respect to Investment liberalisation – National treatment:
In HU: The board of directors of a credit institution shall have at least two members recognised as resident according to foreign exchange regulations and having had prior permanent residence in HU for at least one year.
Measures:
HU: Act CCXXXVII of 2013 on Credit Institutions and Financial Enterprises;
and
Act CXX of 2001 on the Capital Market.
With respect to Investment liberalisation – Market access:
In RO: Market operators are legal persons set up as joint stock companies according to the provisions of the Company law. Alternative trading systems (Multilateral trading facility (MTF) pursuant to MiFID II Directive) can be managed by a system operator set up under the conditions described above or by an investment firm authorised by ASF (Autoritatea de Supraveghere Financiară – Financial Supervisory Authority).
In SI: A pension scheme may be provided by a mutual pension fund (which is not a legal entity and is therefore managed by an insurance company, a bank or a pension company), a pension company or an insurance company. Additionally, a pension scheme can also be offered by pension scheme providers established in accordance with the regulations applicable in a Member State of the EU.
Measures:
RO: Law no. 126 of 11 June 2018 regarding financial instruments and Regulation no. 1/2017 for the amendment and supplement of Regulation no. 2/2006 on regulated markets and alternative trading systems, approved by Order of NSC no. 15/2006 - ASF – Autoritatea de Supraveghere Financiară – Financial Supervisory Authority.
SI: Pension and Disability Insurance Act, (Official Gazette no. 102/2015 (as last amended No 28/19).
With respect to Cross-border trade in services – Local presence:
In HU: Non-EEA companies may provide financial services or engage in activities auxiliary to financial services solely through a branch in HU.
Measures:
HU: Act CCXXXVII of 2013 on Credit Institutions and Financial Enterprises;
and
Act CXX of 2001 on the Capital Market.
Reservation No. 13 - Health services and social services
Sector – sub-sector: Health services and social services
Industry classification: CPC 931, 933
Type of reservation: Market access
National treatment
Chapter: Investment liberalisation and Cross-border trade in services
Level of government: EU/Member State (unless otherwise specified)
Description:
With respect to Investment liberalisation – Market access:
In DE: (applies also to the regional level of government): Rescue services and "qualified ambulance services" are organised and regulated by the Länder. Most Länder delegate competences in the field of rescue services to municipalities. Municipalities are allowed to give priority to not-for-profit operators. This applies equally to foreign as well as domestic service suppliers (CPC 931, 933). Ambulance services are subject to planning, permission and accreditation. Regarding telemedicine, the number of ICT (information and communications technology) service suppliers may be limited to guarantee interoperability, compatibility and necessary safety standards. This is applied in a non-discriminatory way.
In HR: Establishment of some privately funded social care facilities may be subject to needs based limits in particular geographical areas (CPC 9311, 93192, 93193, 933).
In SI: a state monopoly is reserved for the following services: Supply of blood, blood preparations, removal and preservation of human organs for transplant, socio-medical, hygiene, epidemiological and health-ecological services, patho-anatomical services, and biomedically-assisted procreation (CPC 931).
Measures:
DE: Bundesärzteordnung (BÄO; Federal Medical Regulation):
Gesetz über die Ausübung der Zahnheilkunde (ZHG);
Gesetz über den Beruf der Psychotherapeutin und des Psychotherapeuten (PsychThG; Act on the Provision of Psychotherapy Services);
Gesetz über die berufsmäßige Ausübung der Heilkunde ohne Bestallung (Heilpraktikergesetz);
Gesetz über das Studium und den Beruf der Hebammen (HebG);
Gesetz über den Beruf der Notfallsanitäterin und des Notfallsanitäters (NotSanG);
Gesetz über die Pflegeberufe (PflBG);
Gesetz über die Berufe in der Physiotherapie (MPhG);
Gesetz über den Beruf des Logopäden (LogopG);
Gesetz über den Beruf des Orthoptisten und der Orthoptistin (OrthoptG);
Gesetz über den Beruf der Podologin und des Podologen (PodG);
Gesetz über den Beruf der Diätassistentin und des Diätassistenten (DiätAssG);
Gesetz über den Beruf der Ergotherapeutin und des Ergotherapeuten (ErgThg); Bundesapothekerordnung (BapO);
Gesetz über den Beruf des pharmazeutisch-technischen Assistenten (PTAG);
Gesetz über technische Assistenten in der Medizin (MTAG);
Gesetz zur wirtschaftlichen Sicherung der Krankenhäuser und zur Regelung der Krankenhauspflegesätze (Krankenhausfinanzierungsgesetz - KHG);
Gewerbeordnung (German Trade, Commerce and Industry Regulation Act);
Sozialgesetzbuch Fünftes Buch (SGB V; Social Code, Book Five) - Statutory Health Insurance;
Sozialgesetzbuch Sechstes Buch (SGB VI; Social Code, Book Six) - Statutory Pension Insurance;
Sozialgesetzbuch Siebtes Buch (SGB VII; Social Code, Book Seven) - Statutory Accident Insurance;
Sozialgesetzbuch Neuntes Buch (SGB IX; Social Code, Book Nine) - Rehabilitation and Participation of Persons with Disabilities;
Sozialgesetzbuch Elftes Buch (SGB XI; Social Code, Book Eleven) - Social Assistance.
Personenbeförderungsgesetz (PBefG; Act on Public Transport).
Regional level:
Gesetz über den Rettungsdienst (Rettungsdienstgesetz - RDG) in Baden-Württemberg;
Bayerisches Rettungsdienstgesetz (BayRDG);
Gesetz über den Rettungsdienst für das Land Berlin (Rettungsdienstgesetz);
Gesetz über den Rettungsdienst im Land Brandenburg (BbgRettG);
Bremisches Hilfeleistungsgesetz (BremHilfeG);
Hamburgisches Rettungsdienstgesetz (HmbRDG);
Gesetz über den Rettungsdienst für das Land Mecklenburg-Vorpommern (RDGM-V);
Niedersächsisches Rettungsdienstgesetz (NRettDG);
Gesetz über den Rettungsdienst sowie die Notfallrettung und den Krankentransport durch
Unternehmer (RettG NRW);
Landesgesetz über den Rettungsdienst sowie den Notfall- und Krankentransport (RettDG);
Saarländisches Rettungsdienstgesetz (SRettG);
Sächsisches Gesetz über den Brandschutz, Rettungsdienst und Katastrophenschutz (SächsBRKG);
Rettungsdienstgesetz des Landes Sachsen-Anhalt (RettDG LSA);
Schleswig-Holsteinisches Rettungsdienstgesetz (SHRDG);
Thüringer Rettungsdienstgesetz (ThüRettG).
Landespflegegesetze:
Gesetz zur Umsetzung der Pflegeversicherung in Baden-Württemberg (Landespflegegesetz - LPflG);
Gesetz zur Ausführung der Sozialgesetze (AGSG);
Gesetz zur Planung und Finanzierung von Pflegeeinrichtungen (Landespflegeeinrichtungsgesetz-LPflegEG);