A Guide For Setting Up A Company In Germany
Forming
a company in Germany is not a scary process
provided you have all the right information and the right people working by
your side. You can get your company registered either as UG (Mini-GMBH) or
GmbH. For setting
up a company in Germany, here is a simple checklist of all that is
needed.
1. Select The Company Type
The foremost step towards starting the whole setting up process is
to decide the type of the company you want to set up. You can either select the
UG or GmbH form. The UG type of company is ideal when you have little capital.
For setting
up a GmbH in Germany, you need at least €25,000 in share capital. This
means you would be required to deposit a minimum of €12,500. Before you set up
a company with the help of a professional firm, you need to make sure that you
do all the research to come to the conclusion which of the options would be
better for you.
2. Choose A Name For Your Company
Once you have decided on the type of company you want to set up,
you need to settle on a name of the company. You need to look for the name of
the company that is not already registered.
3. The Unternehmensgegenstand
In Germany, all companies must have a specific purpose. This is
referred to as the Unternehmensgegenstand. You should note down a specific
objective for this.
4. Check The Documents For Compliance
There are a certain set of documents you need to submit for
registering the company. You can hire a professional firm to prepare the
documents for you as they have the experience and expertise to set up a company
in Germany.
5. The Company Formation
The next big step is to meet the notary. You need to be
present with all the shareholders involved and have enough identification
documents. You can consider hiring a professional firm that can help you with
all the formalities before, during and after the meeting. Having an experienced
firm by your side especially when you are from other country can be even more
helpful as they could help you complete all the formalities in a hassle free
manner.
6. Open The Bank Account
All companies need to open a bank account. It may be hard for
foreigners to find a bank. So having a professional firm to help you in every
step would be a great idea. In case you are applying at traditional banks,
always show up with the documents provided to you by the notary. Another tip
here would be to apply at multiple banks and then wait for one to accept your
application. Different banks may have different requirements, so inquire about
the required documents in advance before preparing the application.
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