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Germany has opened its home to countless businesses from all across the globe. It is a commonly sought after overseas options for various multinational companies. Germany is gaining tremendous momentum as it is considered very attractive in foreign direct investments since it is one of the largest European economies. Furthermore, various factors make Germany the preferred choice for investors around the globe. The following are the hallmarks of setting up a company in Germany:
Advanced and updated technology
Diverse and specialized workforce
Leeway for purchase of property
Favourable foreign investment policies
Additional incentives
An ideal way to start a business in Germany is by setting up a GmbH in Germany. GmbH stands for a limited liability company. The shareholders' liability is only to the extent of their share in the company and does not expanse to their private assets. Forming a GmbH in Germany is not an easy task due to the country's rules and regulations, and the paperwork could take up to 2-3 months. When a company gets registered as GmbH, a specialty is that the managing director receives a visa and additionally the green flag to stay in Germany.
The company incorporation procedure in Germany requires mainly three steps:
1 : Appointment of shareholder and director
2 : Deposit minimum capital of €25,000
3 : Enter the company's name in the German Commercial Register
There are various rules and regulations that a company needs to comply with, from the tax returns, tax filings, bookkeeping to payrolls of the employees, and so on. Additionally, there is difficulty getting a tax identification number, a bank account, a VAT number, and other like things, a time-consuming and tedious process. In such instances, International payroll service is the panacea for all things related to setting up a company in Germany. The company is well equipped with a committed team making the formation of the GmbH Company hassle-free.
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