Foreign transfers above a value of €12,500 are subject to a reporting obligation under Section 11 of the Foreign Trade and Payments Act (Außenwirtschaftsgesetz, AWG) and Sections 67 et seq. Foreign Trade and Payments Ordinance (AWV) may be subject to a reporting obligation.
As a rule, this means that incoming and also outgoing foreign transfers of €12,500 or more must be reported to the Bundesbank. The report can be submitted by telephone, e-mail or via a reporting portal.
Please note, however, that Penta is not allowed to provide legal support for your company. Therefore, please contact your lawyer if you have any questions.