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I asked a friend of mine who is a partner at a tax firm. They have already sent a written inquiry to the ministry of finance asking for clarification. His position is that this rule is unfair and he is not even sure it it will uphold since it violates some basic principles (in his view, I should say). This change has stirred up quite a lot of commotion. For example some brokers are afraid they have to close their German branches. It does not have to be said that due to Covid 19 there is little chance to receive any update on this front. I would not even estimate anything to be done within this year. Ways out of it: 1) Start trading professionally in a separate corporate entity. The problem is that you will end up paying more taxes compared to know as far as I understand it. You pay corporate tax on your earnings and then pay capital gains tax if you pay those earnings out (to yourself) or you pay yourself an income and the money gets taxed with income tax. Both have higher tax loads than the regular capital gains tax you pay now. 2) Create an offshore entity. One of the easiest ways seem to create an LLC, for example in Florida. As long as it is considered tax transparent the earnings will be reported by the owners and they are being taxed. It is key that the German tax authorities consider this entity also as a partnership („Personengesellschaft“) and not as a corporation („Kapitalgesellschaft“). Otherwise you are being taxed twice. 3) Wait and see. Maybe they will change something, maybe it gets sacked by the courts.

My tax consultant already is setting up a real estate holding and a family foundation. The latter has several advantages in deferring taxes and holding wealth within the family. Some of those topics are discussed in "Reicher als die Geissens" by Alex Fischer which you will find as a free videocast on youtube https://www.youtube.com/playlist?list=PL0n72FNtnkfSzjTz6h4hVOvrBcPGEzPZC Emigration to e.g. Dubai or the Caimans is always an alternative if you have enough ressources ;-).