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Earlier quoted context omitted.
Given the domination of Germany and France in EU, thank the universe it didn't. Signed, a citizen of an EU state where you can create a company by digitally signing one form and paying the equivalent of $300.
Create a company, or do you mean buy it 'off the shelf'?
Having founded a company in Germany, I would never under any circumstances do it again. Notaries should not exist, and could be replaced by a simple website. It's all incredibly tedious and slow, and there are lots of reoccurring work and fees. Closing a company takes 2-3 years too, even if there are no irregularities.
I wonder: why EU did not try to somewhat harmonize company law? I can understand that things like tax code, penal code would not benefit from unification across disparate societies, but companies seem like a ripe target. This should have begun 20 or so years ago.
Given the domination of Germany and France in EU, thank the universe it didn't. Signed, a citizen of an EU state where you can create a company by digitally signing one form and paying the equivalent of $300.
To be honest, I don't think much of notaries and believe that they stifle innovation and harm the German economy, especially SMEs, but also clubs and citizens. For example, the purchase or sale of a property can only be carried out with a notary who reads the purchase contract for both parties. For this service, he charges a fee of around 1.5% of the sale price. The entire profession is strictly protected by law and…
Having founded a company in Germany, I would never under any circumstances do it again. Notaries should not exist, and could be replaced by a simple website. It's all incredibly tedious and slow, and there are lots of reoccurring work and fees. Closing a company takes 2-3 years too, even if there are no irregularities.
Germany loves endless bureaucratic paperwork which absolutely must be done in person (and good luck getting an appointment in Berlin), despite the many years of bleating about Digitalisierung which has apparently amounted to nothing.
Soon you'll be able to use a credit card in most shops even!
Earlier quoted context omitted.
It's extremely regressive. I started an effort to reform things in Italy and... it kinda sorta got some actual results, although not quite as much as I'd hoped https://blog.therealitaly.com/2015/04/16/fixing-italy-a-litt... How many days of wages is 12,500 for the average worker? In the US, even for someone making minimum wage, you could pretty quickly cover the costs of forming an LLC, let alone someone making more.
Isn’t that already an option in Italy with the SRL Semplificata and initial capital starting at 1€?
To be honest, I don't think much of notaries and believe that they stifle innovation and harm the German economy, especially SMEs, but also clubs and citizens. For example, the purchase or sale of a property can only be carried out with a notary who reads the purchase contract for both parties. For this service, he charges a fee of around 1.5% of the sale price. The entire profession is strictly protected by law and…
Technically, there is competition. You are free to choose whichever notary you want. But pricing is legally regulated, so you will pay the same price everywhere.
From 2000 to 2020 the number of notaries in Germany had almost halved. How is that normal for any country ? Unless they replaced notaries with automation which Germany didn’t .
Minimum initial share capital of €12,500 to found a company where liability is limited to the firm seems like a very regressive impediment to business. For comparison in the UK, there's a £12 registration fee, and a £1 (one pound) minimum initial share capital. It must put limited liability out of reach of so many people.
> It must put limited liability out of reach of so many people. That's the entire point. The concept that any idiot can start an LLC with no collateral (which the 25k are) is completely, absolutely, mind bogglingly bonkers to us Germans. Sounds like a scam imo.
no wonder you guys fell for Wirecard
good thing the EU/Eurozone/EFTA/EEA lets anyone do business with a business entity registered in any member state and accept SEPA in any regional currency
so some microstate with competitive laws and more egalitarian access can circumvent Germany’s exclusionary hurdles