Coworking Spaces as Obliged Entities under the German Anti-Money Laundering Act

In the specific case, the claimant did not merely provide office space. Its offering also included, among other things, business addresses, Wi-Fi, meeting rooms, furnished workstations and other services.

In the court’s view, this overall package is sufficient to fall within the scope of Section 2(1) no. 13 lit. c of the German Anti-Money Laundering Act.

Why the ruling matters

The court’s reasoning is particularly relevant: such offerings can be used to create the external appearance of a genuine business operation and thereby facilitate money laundering. This is precisely where the court identifies an increased risk.

For operators of coworking spaces and business centers, this means that the question is not limited to whether office space is being rented out. What may be decisive is which additional services are offered and whether they create an external business presence.

What affected providers should review now

Providers of coworking spaces, business centers or comparable office services should assess whether their service offering may trigger obligations under anti-money laundering law. Particularly relevant are offerings that go beyond the mere provision of workstations and include, for example, business addresses, meeting rooms or additional services.

Anyone falling within the scope of the German Anti-Money Laundering Act must establish appropriate processes to comply with the statutory requirements.

Regpit as a solution for AML compliance

Regpit supports coworking spaces and virtual office operators in implementing requirements under the German Anti-Money Laundering Act digitally, efficiently and in a legally compliant manner. The platform brings together key processes relating to customer identification, risk management, monitoring and training in one all-in-one solution.

This enables companies facing newly emerging AML obligations to build their compliance structures quickly and scalably.

Speak to our experts about your AML obligations

Are you the operator of a coworking space or business center, or do you offer comparable office services?

Then an overview of the relevant anti-money laundering obligations may be useful.

Book a meeting now and speak to Regpit’s experts without obligation.