Licensing

Published: 26/3/2018
Legal persons intending to provide services pursuant to the Act on Consumer Housing Loans must submit to the Croatian National Bank the application for authorisation to provide credit intermediation services in relation to consumer mortgage loans. Credit intermediaries intending to provide such services across borders must notify the Croatian National Bank about it. Based on the granted applications and notifications, the Croatian National Bank enters credit intermediaries into registers and records.

The Croatian National Bank issues authorisation to provide credit intermediation services for consumer mortgage loans under the conditions prescribed by the Act on Consumer Housing Loans (omogućiti link na zakon – pod "Regulativa" (Regulations)).

A legal person intending to provide credit intermediation services submits the application form for authorisation to provide credit intermediation services to the Croatian National Bank, accompanied by the relevant documentation. Exceptionally, a credit institution submits the application for authorisation if a credit intermediary intends to provide services only for that specific credit institution.

The application for authorisation, with prescribed documentation enclosed, is submitted in writing to the following postal address:

Ured za praćenje zaštite potrošača
Hrvatska narodna banka
Trg hrvatskih velikana 3
10 002 Zagreb
Republika Hrvatska

The procedure for the submission of the application and documents to be enclosed to the application are described in more detail in the Decision on the necessary knowledge and competence of staff of credit institutions and credit intermediaries and on the requirements and the procedure for authorisation to provide credit intermediation services (OG 107/2017).

If a credit intermediary meets the required conditions, after the conducted analysis of the received application and documentation, the Croatian National Bank issues the Decision granting authorisation to provide credit intermediation services. Such a Decision contains the list of all services for which a credit intermediary has obtained authorisation and the name of the credit institution to which the credit intermediary is tied and for which the credit intermediary can provide the listed services. After such a Decision is issued, the Croatian National Bank enters the intermediary in the register of credit intermediaries.

If after the conducted analysis the application of a credit intermediary to provide credit intermediation services is rejected by a Decision, the information about it is also submitted to the Ministry of Finance in all such cases in which the credit intermediary has operated based on the authorisation referred to in Article 21 of the Consumer Credit Act.

The Croatian National Bank has also prescribed the possibility of issuing a Decision granting authorisation with a suspensive effect if the credit intermediary, for justified reasons, failed to submit a certificate of knowledge and competence, evidence of professional indemnity insurance or other comparable guarantee. In such cases, the Croatian National Bank continues to monitor the time limits within which the credit intermediary must meet all the required conditions and upon receipt of the documentation proving the meeting of conditions, the Croatian National Bank notifies the credit intermediary that the conditions have been met. The credit intermediary can start providing credit intermediation services only upon receiving such a notification from the Croatian National Bank.

The Croatian National Bank enters any status updates in the register.

If a credit intermediary that has obtained authorisation from the Croatian National Bank intends to provide credit intermediation services in other member states, the credit intermediary must notify the Croatian National Bank about it in advance. The notification procedure and contents are described in more detail in the Decision on notification of the provision of cross-border credit intermediation services (omogućiti link na Odluku – pod "Regulativa" (Regulations)). After checking the data from the submitted notification, the Croatian National Bank delivers a passport notification for the credit intermediary to the competent authority for credit intermediaries in the host member state in which the intermediary intends to provide its services.

According to the same procedure, credit intermediaries from other EU member states deliver their passport notifications to the Croatian National Bank through their competent authorities in which, in addition to other mandatory data, they provide the list of services they intend to provide in the territory of the Republic of Croatia. The Croatian National Bank publishes the list of all credit intermediaries for which passport notifications have been duly delivered .