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.