Foreign persons can only offer foreign securities through domestic banks and stock broking companies. Members of the Slovenian Stock Exchange must be incorporated in the Republic of Slovenia.

All above-mentioned credit arrangements must be registered with the Bank of Slovenia. (Remark: this provision shall be abolished upon the adoption of the new Law on Banking.)

Unbound except accepting credits (borrowing of all types), and accepting guarantees and commitments from foreign credit institutions by domestic legal entities and sole proprietors. (Remark: consumer credits shall be free upon the adoption of the new Foreign Exchange Law).

Subsectors B.11. and B.12. (provision and transfer of financial information, and advisory and other auxiliary financial services, except those related to participation in issues of Treasury bonds and to pension fund management): None.

Participation in issues of Treasury bonds, pension fund management and related advisory and other auxiliary financial services: Unbound.

(vii) Only foreign exchange entities established in the Slovak Republic can grant and obtain guarantees and liabilities according to determined limit and provisions of the National Bank of Slovakia.

(vi) Foreign exchange permission or licence granted by foreign exchange authorities is required for a deposit of financial assets by residents abroad.

(v) Export and import of the Slovak currency and foreign exchange in cash exceeding value of SKK 150000 and bullion, is subject to reporting requirements.

(c) obtaining financial credit from a foreign exchange nonresident; except credits from abroad accepted by residents with a repayment period of more than 3 years and loans granted between natural persons for nonbusiness activities.

(a) opening an account abroad by a Slovak nonbank resident, except for natural persons during their stay abroad;

(iv) A foreign exchange licence issued by the National Bank of Slovakia is required for:

(iii) Non-cash cross-border payments may be effected only by authorised domestic banks and branches of foreign banks in the Slovak Republic.

(ii) Only authorised domestic banks, branches of foreign banks in the Slovak Republic and persons possessing a foreign exchange license may trade in foreign exchange assets. Only stock exchange members can trade on the Bratislava Stock Exchange. Residents can trade on the RMSystem Slovakia without any limitation and nonresidents only through security dealers.

(i) Deposit services are confined to the domestic banks and branches of foreign banks in the Slovak Republic.

SK: Trading of derivative products, of transferable securities and of other negotiable instruments and financial assets, participation in issues of all kinds of securities, money broking, asset management, and settlement and clearing services for financial assets: Unbound.

Subsector B.11. (provision and transfer of financial information): Requirement to use the public telecommunication network, or the network of another authorised operator, in the case of cross-border provision of these services.

Subsector B.11. (provision and transfer of financial information): Unbound, except for the provision of financial information by international providers.

Subsectors B.1. and B.2. (acceptance of deposits and lending of all types): None.

IE: The provision of investment services or investment advice requires either 1. authorisation in Ireland, which normally requires that the entity be incorporated or be a partnership or a sole trader, in each case with a head/registered office in Ireland (authorisation may not be required in certain cases, e.g. where a third country service provider has no commercial presence in Ireland and the service is not provided to private individuals), or 2. authorisation in another Member State in accordance with the EC Investment Services Directive.

EE, LT: The establishment of a specialised management company is required to perform the activities of management of unit trusts and investment companies, and only firms having their registered office in the Community can act as depositories of the assets of investment funds.

EE: Subsector B.1. (acceptance of deposits): Requirement of authorisation by Eesti Pank and registration under Estonian Law as a joint-stock company, a subsidiary or a branch.

(f) issue of foreign securities for public and non-public trade in the Czech Republic or their introduction on the domestic market.

(e) purchase of foreign securities except for the cases as described by the Foreign Exchange Act;

Foreign exchange permit issued by the Czech National Bank or Ministry of Finance is required in case of Czech non-bank residents for:

Only Czech established banks and branches of foreign banks having a corresponding licence may:

CZ: Non-central bank currency issue services, trading of derivative products, of transferable securities and of other negotiable instruments and financial assets, participation in issues of all kinds of securities, money broking, asset management, settlement and clearing services for financial assets, advisory, intermediation and other auxiliary financial services relating to these activities: Unbound.

Subsectors B.11. and B.12. (provision and transfer of financial information, and advisory services): Requirement to use the public telecommunication network, or the network of another authorised operator, in the case of cross-border provision of these services. Unbound for intermediation and other auxiliary financial services

BE: Establishment in Belgium is required for the provision of investment advisory services.

UK: Sterling issues, including privately led issues, can be lead managed only by a firm established in the European Economic Area.

Legal entities established in the Republic of Slovenia can be depositories of the assets of Investments Funds.

All above-mentioned credit arrangements must be registered with the Bank of Slovenia. (Remark: this provision shall be abolished upon the adoption of the new Law on Banking.)

Unbound except accepting credits (borrowing of all types), and accepting guarantees and commitments from foreign credit institutions by domestic legal entities and sole proprietors. (Remark: consumer credits shall be free upon the adoption of the new Foreign Exchange Law).

Subsectors B.11. and B.12. (provision and transfer of financial information, and advisory and other auxiliary financial services, except those related to participation in issues of Treasury bonds and to pension fund management): None.

Participation in issues of Treasury bonds, pension fund management and related advisory and other auxiliary financial services: Unbound.

(vii) Only foreign exchange entities established in the Slovak Republic can grant and obtain guarantees and liabilities according to determined limit and provisions of the National Bank of Slovakia.

(vi) Foreign exchange permission or a licence granted by foreign exchange authorities is required for a deposit of financial assets by residents abroad.

(v) Export and import of the Slovak currency and foreign exchange in cash exceeding value of SKK 150000 and bullion, is subject to reporting requirement.

(c) obtaining financial credit from a foreign exchange nonresident; except credits from abroad accepted by residents with a repayment period of more than 3 years and loans granted between natural persons for nonbusiness activities.

(a) opening an account abroad by a Slovak nonbank resident, except for natural persons during their stay abroad;

(iv) A foreign exchange licence issued by the National Bank of Slovakia is required for:

(iii) Non-cash cross-border payments may be effected only by authorised domestic banks and branches of foreign banks in the Slovak Republic.

(ii) Only authorised domestic banks, branches of foreign banks in the Slovak Republic and persons possessing a foreign exchange license may trade in foreign exchange assets. Only stock exchange members can trade on the Bratislava Stock Exchange. Residents can trade on the RMSystem Slovakia without any limitation and nonresidents only through security dealers.

(i) Deposit services are confined to the domestic banks and branches of foreign banks in the Slovak Republic.

RO: The opening of accounts and utilisation of foreign currency resources abroad by natural and legal Romanian persons is allowed only with prior permission from the National Bank of Romania. Unbound for subsectors B:3 (financial leasing), B. 7 (participation in issues of all kinds of securities), B.9 (asset management) and B.10 (settlement and clearing services for financial assets)

Subsector B.11. (provision and transfer of financial information): Requirement to use the public telecommunication network, or the network of another authorised operator, in the case of consumption abroad of these services.

Subsector B.11. (provision and transfer of financial information): Unbound, except for the provision of financial information by international providers.

Subsectors B.1. and B.2. (acceptance of deposits and lending of all types): None.

EL: Establishment is required for the provision of custodial and depository services involving the administration of interest and principal payments due on securities issued in Greece.

FI: Payments from governmental entities (expenses) shall be transmitted through the Finnish Postal Giro System, which is maintained by the Postipankki Ltd. Exemption from this requirement may be granted for a special reason by the Ministry of Finance.

DE: Issues of securities denominated in Deutschmarks can be lead managed only by a credit institution, subsidiary or branch, established in Germany.

(f) issue of foreign securities for public and non-public trade in the Czech Republic or their introduction on the domestic market.

(e) purchase of foreign securities except for the cases as described by the Foreign Exchange Act;

Foreign exchange permit issued by the Czech National Bank or Ministry of Finance is required in case of Czech non-bank residents for:

Only Czech established banks and branches of foreign banks having a corresponding licence may:

CZ: Non-central bank currency issue services, trading of derivative products and of bullion, money broking, asset management, settlement and clearing services for derivative products, and advisory, intermediation and other auxiliary financial services relating to these activities: Unbound.

Subsectors B.11. and B.12. (provision and transfer of financial information, and advisory services): Requirement to use the public telecommunication network, or the network of another authorised operator, in the case of consumption abroad of these services. Unbound for intermediation and other auxiliary financial services

Subsectors B.1. to B.10. (acceptance of deposits, lending of all types, financial leasing, all payment and money transmission services, guarantees and commitments, trading of securities, participation in issues of all kinds of securities, money broking, asset management, and settlement and clearing services for financial assets): Unbound

3) Commercial presence