Shareholders from countries with a tax treaty are entitled to a refund on with holding tax. Capital gains tax is levied on foreigners. Most of these capital gains and property taxes are subject to reduced or zero rates. If a double tax treaty is in effect. All institutions submitting orders to an exchange are required to have a German banking license.
Banks provide investment advice and serve as the investor's agent in transactions.
They are also allowed to trade for their own accounts and can transact orders outside the exchange by request of the investor. Liquid securities trade continuously during the session in minimum numbers of 50 shares and multiples thereof.