What do you need to know about a company in Germany?
Germany is a country in Central Europe. The capital of the state is Berlin. It is profitable to open an offshore in Germany, as the jurisdiction has a rapidly developing economy. The country is a leader in some industrial sectors, one of the largest exporters and importers.
The country is highly developed and has a high standard of living. Germany is one of the states that became a founder and member of the EU. This country is popular among immigrants. Many businessmen open a company in Germany to increase the prestige of the firm, as the country is one of the respectable states with prestigious international status.
The advantages of starting a company
It is worth buying a company in Germany in 2020 because the level of corruption in the country is low and the state is stable. For some types of companies, state subsidies are provided.
It is possible to open a holding company in Germany on favorable conditions. The banks of the country offer loans with attractive tariffs. If you have a business in Germany, you can further open branches in different EU member states. If the business has been successfully operating for three years or more years, you can get the opportunity to reside permanently in the jurisdiction.
Opening of an LLC in Germany in 2020
According to the country's legislation, foreign citizens are allowed to start a business. The most common OPF is GmbH for non-residents. In Germany, a limited liability company is represented by an individual legal entity with its own name, or several individuals and legal entities.
There are some requirements that must be met when establishing such a company. The name can only be unique, it should not be similar to the names of companies that were registered earlier. There are almost no restrictions on the name of the company.
The founders can be foreigners, persons with German citizenship and legal persons. The appointment of a manager is required. They can be resident or non-resident. Most often, this legal form is chosen because there is a restriction on the liability of the owner. That is, the owners' personal capital is not touched.
In addition to this form, often foreigners open a joint-stock company and a European company. To learn more about these legal forms and the nuances of incorporation, please contact our experts at IT-OFFSHORE.
Stages of incorporation GmbH
It is preliminary required to draw up a memorandum of association and establish the objectives of the company. It is necessary to appoint a manager as well as determine the amount of the authorized capital. Once the agreement is ready, it must be assured in the notary's office. It is necessary to sign the certificate, which is issued by a notary.
Then the LLC is entered in the Trade Registry. With regards to the documents, a special checking process is carried out. If there are no questions about the correctness of compilation and completeness, GmbH can enter the Commercial Registry.
In the course of the registration process, it is, therefore, necessary to prepare the necessary documentation, select a name for the company, determine the type of activity and register the legal address. All articles of incorporation have to be signed. To be fully operating, the company will need to open an account, transfer the amount of the share capital, register with the Trade Registry and obtain a tax number.
Registration of the company in Germany is relevant for businesspeople planning to enter the European market and to open branches within the European Union. Opening a company allows to produce products under the German trademark, to get a residence permit in the future, and to invest funds.