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Germany houses a large number of small sole proprietorships as well as large conglomerates. The German government is very open to all types of business and this is one of the biggest reasons for the prominence of Germany’s economy on the world stage. If you are Forming a GmbH in Germany, Germany creates a friendly environment and the laws are clearly laid down for everything. If you want to be the part of this booming economy, here are 7 things to keep in mind while Forming a company in Germany.\n\n1. Decide On The Format Of The Company You Want To Form\n\nMost of the businesses in Germany are formed either as a GmbH which is similar to a limited company or as a partnership. This gives an impression of you being a stable investor and hence gain you credibility and stable business prospects.\n\n2. Register Yourself\n\n3. Get An Imprint\n\n4. Hire A German Representative\n\n5. Appoint A Good Tax Consultant\n\n6. Financial Planning\n\nYou can hire an experienced financial expert to do the job. There may be dozens of potential costs that you may not think of such as local license tax, corporate tax advance payments, social security deductions and many more.\n\n7. Build A Professional Network\n\nThe Chamber of Commerce and its regular seminars and information events can be a good start. It is a great place to not only just meet other entrepreneurs but also tax advisers, accountants, lawyers, and specialist consultants.

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seven objects to do when forming a company

Seven Objects To-do When Forming A

Company In Germany

Tel: +49 (0) 2173 / 2039568, Fax: +49 (0) 2173 / 206963

mail@payroll-services-germany.com

seven objects to do when forming a company 1

Seven Objects To-do When Forming A

Company In Germany

Home to thousands of businesses, Germany houses

a large number of small sole proprietorships as well

as large conglomerates.

The German government is very open to all types of

business and this is one of the biggest reasons for t

he prominence of Germany’s economy on the world

stage.

If you are Forming a GmbH in Germany, Germany c

reates a friendly environment and the laws are clear

ly laid down for everything.

Tel: +49 (0) 2173 / 2039568, mail@payroll-services-germany.com

seven objects to do when forming a company 2

Seven Objects To-do When Forming A

Company In Germany

If you want to be the part of this booming econom

y, here are 7 things to keep in mind while Forming

a company in Germany.

1.

u Want To Form

2.

3.

4.

5.

6.

7.

Decide On The Format Of The Company Yo

Register Yourself

Get An Imprint

Hire A German Representative

Appoint A Good Tax Consultant

Financial Planning

Build A Professional Network

Tel: +49 (0) 2173 / 2039568, mail@payroll-services-germany.com

seven objects to do when forming a company 3

Seven Objects To-do When Forming A

Company In Germany

1. Decide On The Format Of The Company You Want To Form

Most of the businesses in Germany are formed eith

er as a GmbH which is similar to a limited company

or as a partnership.

The foremost question you need to ask yourself is h

ow much you want to be involved and do you wish t

o take a risk of being personally liable?

Unless you already have some business set up in Ge

rmany, it is strongly recommended to go for GmbH

business.

Tel: +49 (0) 2173 / 2039568, mail@payroll-services-germany.com

seven objects to do when forming a company 4

Seven Objects To-do When Forming A

Company In Germany

In order to form a GmbH, you need a minimum capi

tal requirement of 25,000 Euros at least half of whic

h needs to be paid at the time of the formation.

This gives an impression of you being a stable invest

or and hence gain you credibility and stable busines

s prospects.

While you can open a “small GmbH” in Germany (U

G), this is generally seen as untrustworthy.

Tel: +49 (0) 2173 / 2039568, mail@payroll-services-germany.com

seven objects to do when forming a company 5

Seven Objects To-do When Forming A

Company In Germany

2.

Register Yourself

You need to register your business with the tax offic

e, the chamber of commerce and the commercial re

gister. This is very important especially in B2B becau

se they can look you up on www.unternehmensregi

ster.de to check if you are a trustworthy and a credi

ble business. The notary setting up the business will

register you in commercial register.

Tel: +49 (0) 2173 / 2039568, mail@payroll-services-germany.com

seven objects to do when forming a company 6

Seven Objects To-do When Forming A

Company In Germany

3.

Get An Imprint

As per German law, you need to list many details of

the company on your commercial website.

Failure to obey these requirements can get you in a

lot of trouble as there are thousands of Euros of fin

es involved for breach of fair competition laws.

Tel: +49 (0) 2173 / 2039568, mail@payroll-services-germany.com

seven objects to do when forming a company 7

Seven Objects To-do When Forming A

Company In Germany

4.

Hire A German Representative

This is extremely important in the earlier phase of y

our business if you hail from a different country. Hiri

ng a German Representative who can act as a direct

or or an authorized representative. This would mak

e your life easier in terms of banks, courts, tax laws

etc. This would also help you have more credibility i

n the start of your business. The best way to do this

is having a German partner.

Tel: +49 (0) 2173 / 2039568, mail@payroll-services-germany.com

seven objects to do when forming a company 8

Seven Objects To-do When Forming A

Company In Germany

5.

Appoint A Good Tax Consultant

It is said that almost 70 percent of all the tax literatu

re in the world is published in Germany. If you try to

do it all by yourself, you would probably lose your m

ind in filling all those forms and would have no time

whatsoever to do the most important thing that is r

un your business. Find yourself a tax consultant who

knows about international tax law as well.

Tel: +49 (0) 2173 / 2039568, mail@payroll-services-germany.com

seven objects to do when forming a company 9

Seven Objects To-do When Forming A

Company In Germany

6.

Financial Planning

This is universally accepted fact that Cash is the lifeb

lood of any business even more than profits.

It is therefore a must to have a cash flow forecast in

place for your business.

Make sure to have a minimum of 3 to 6 months of r

eliable cash flow visibility for your company.

Tel: +49 (0) 2173 / 2039568, mail@payroll-services-germany.com

seven objects to do when forming a company 10

Seven Objects To-do When Forming A

Company In Germany

You can also hire an experienced financial expert to

do the job.

There may be dozens of potential costs that you ma

y not think of such as local license tax, corporate tax

advance payments, social security deductions and

many more.

Tel: +49 (0) 2173 / 2039568, mail@payroll-services-germany.com

seven objects to do when forming a company 11

Seven Objects To-do When Forming A

Company In Germany

7.

Build A Professional Network

Well something of an unsaid yet the most importan

t one. Make friends. Yes a lot of them. The Chamber

of Commerce and its regular seminars and informati

on events can be a good start. It is a great place to

not only just meet other entrepreneurs but also tax

advisers, accountants, lawyers, and specialist consul

tants.

Tel: +49 (0) 2173 / 2039568, mail@payroll-services-germany.com