<?xml version="1.0" encoding="UTF-8"?>
<urlset xmlns="http://www.sitemaps.org/schemas/sitemap/0.9" xmlns:xhtml="http://www.w3.org/1999/xhtml">
<url>
<loc>https://substnz.eu/</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>1</priority>
</url>
<url>
<loc>https://substnz.eu/de</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>1</priority>
</url>
<url>
<loc>https://substnz.eu/tied-agent</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/tied-agent" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/vertraglich-gebundener-vermittler" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.9</priority>
</url>
<url>
<loc>https://substnz.eu/de/vertraglich-gebundener-vermittler</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/tied-agent" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/vertraglich-gebundener-vermittler" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.9</priority>
</url>
<url>
<loc>https://substnz.eu/tied-agent-as-a-service</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/tied-agent-as-a-service" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/vertraglich-gebundener-vermittler-als-service" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.9</priority>
</url>
<url>
<loc>https://substnz.eu/de/vertraglich-gebundener-vermittler-als-service</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/tied-agent-as-a-service" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/vertraglich-gebundener-vermittler-als-service" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.9</priority>
</url>
<url>
<loc>https://substnz.eu/liability-umbrella</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/liability-umbrella" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/haftungsdach" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.9</priority>
</url>
<url>
<loc>https://substnz.eu/de/haftungsdach</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/liability-umbrella" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/haftungsdach" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.9</priority>
</url>
<url>
<loc>https://substnz.eu/mifid-license-provider</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/mifid-license-provider" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/mifid-lizenzgeber" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.9</priority>
</url>
<url>
<loc>https://substnz.eu/de/mifid-lizenzgeber</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/mifid-license-provider" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/mifid-lizenzgeber" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.9</priority>
</url>
<url>
<loc>https://substnz.eu/fundraising-infrastructure</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/fundraising-infrastructure" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/fundraising-infrastruktur" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.9</priority>
</url>
<url>
<loc>https://substnz.eu/de/fundraising-infrastruktur</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/fundraising-infrastructure" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/fundraising-infrastruktur" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.9</priority>
</url>
<url>
<loc>https://substnz.eu/for-placement-agents</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/for-placement-agents" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/fuer-placement-agents" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.9</priority>
</url>
<url>
<loc>https://substnz.eu/de/fuer-placement-agents</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/for-placement-agents" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/fuer-placement-agents" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.9</priority>
</url>
<url>
<loc>https://substnz.eu/for-asset-managers</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/for-asset-managers" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/fuer-asset-manager" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.9</priority>
</url>
<url>
<loc>https://substnz.eu/de/fuer-asset-manager</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/for-asset-managers" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/fuer-asset-manager" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.9</priority>
</url>
<url>
<loc>https://substnz.eu/platform</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/platform" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/plattform" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/de/plattform</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/platform" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/plattform" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/how-it-works</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/how-it-works" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/so-funktioniert-es" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/de/so-funktioniert-es</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/how-it-works" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/so-funktioniert-es" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/economics</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/economics" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/konditionen" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/de/konditionen</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/economics" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/konditionen" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/what-is-a-tied-agent</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/what-is-a-tied-agent" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/was-ist-ein-vertraglich-gebundener-vermittler" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/de/was-ist-ein-vertraglich-gebundener-vermittler</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/what-is-a-tied-agent" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/was-ist-ein-vertraglich-gebundener-vermittler" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/what-is-a-liability-umbrella</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/what-is-a-liability-umbrella" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/was-ist-ein-haftungsdach" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/de/was-ist-ein-haftungsdach</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/what-is-a-liability-umbrella" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/was-ist-ein-haftungsdach" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/how-mifid-passporting-works</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/how-mifid-passporting-works" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/wie-mifid-passporting-funktioniert" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/de/wie-mifid-passporting-funktioniert</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/how-mifid-passporting-works" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/wie-mifid-passporting-funktioniert" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/own-license-vs-tied-agent</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/own-license-vs-tied-agent" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/eigene-lizenz-vs-gebundener-vermittler" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/de/eigene-lizenz-vs-gebundener-vermittler</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/own-license-vs-tied-agent" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/eigene-lizenz-vs-gebundener-vermittler" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/germany</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/germany" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/deutschland" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.7</priority>
</url>
<url>
<loc>https://substnz.eu/de/deutschland</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/germany" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/deutschland" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.7</priority>
</url>
<url>
<loc>https://substnz.eu/europe</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/europe" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/europa" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.7</priority>
</url>
<url>
<loc>https://substnz.eu/de/europa</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/europe" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/europa" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.7</priority>
</url>
<url>
<loc>https://substnz.eu/luxembourg</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/luxembourg" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/luxemburg" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/de/luxemburg</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/luxembourg" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/luxemburg" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/aifmd-and-mifid</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/aifmd-and-mifid" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/aifmd-und-mifid" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/de/aifmd-und-mifid</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/aifmd-and-mifid" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/aifmd-und-mifid" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/do-i-need-a-mifid-licence</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/do-i-need-a-mifid-licence" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/brauche-ich-eine-mifid-lizenz" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/de/brauche-ich-eine-mifid-lizenz</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/do-i-need-a-mifid-licence" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/brauche-ich-eine-mifid-lizenz" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/tied-agent-locations</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/tied-agent-locations" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/tied-agent-standorte" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/de/tied-agent-standorte</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/tied-agent-locations" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/tied-agent-standorte" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/pre-marketing-and-reverse-solicitation</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/pre-marketing-and-reverse-solicitation" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/pre-marketing-und-reverse-solicitation" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/de/pre-marketing-und-reverse-solicitation</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/pre-marketing-and-reverse-solicitation" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/pre-marketing-und-reverse-solicitation" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/european-distribution-for-us-managers</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/european-distribution-for-us-managers" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/europaeischer-vertrieb-fuer-us-manager" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/de/europaeischer-vertrieb-fuer-us-manager</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/european-distribution-for-us-managers" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/europaeischer-vertrieb-fuer-us-manager" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.8</priority>
</url>
<url>
<loc>https://substnz.eu/privacy</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/privacy" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/datenschutz" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.3</priority>
</url>
<url>
<loc>https://substnz.eu/de/datenschutz</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/privacy" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/datenschutz" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.3</priority>
</url>
<url>
<loc>https://substnz.eu/regulatory</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/regulatory" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/regulatorisches" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.3</priority>
</url>
<url>
<loc>https://substnz.eu/de/regulatorisches</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/regulatory" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/regulatorisches" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.3</priority>
</url>
<url>
<loc>https://substnz.eu/imprint</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/imprint" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/impressum" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.3</priority>
</url>
<url>
<loc>https://substnz.eu/de/impressum</loc>
<xhtml:link rel="alternate" hreflang="en" href="https://substnz.eu/imprint" />
<xhtml:link rel="alternate" hreflang="de" href="https://substnz.eu/de/impressum" />
<lastmod>2026-09-14T09:38:11.054Z</lastmod>
<changefreq>monthly</changefreq>
<priority>0.3</priority>
</url>
</urlset>
