Start your company formation process in Germany with Yalmans Business. Everything for starting a company from scratch or transferring a ready-made company to you is at Yalmans Business.
Company Establishment Process in Germany
Notary Process
Initiation of Company Establishment at Notary
Banking
Company Account Opening at the Bank
Balance
Submitting the Company Opening Balance Sheet
Tax Administration
Obtaining VAT and VAT-ID from the Tax Office
Chamber of Commerce
IHK (German Chamber of Industry and Commerce) Application
HRB
HRB Application and Obtaining EORI Number
CAPITAL
The minimum capital required for GmbH is €25,000. You must deposit at least half of this amount into your company bank account at the time of establishment. Contributions to the capital of GmbH can be in cash or in kind (equipment, property and other assets).
The minimum capital required for UG is 1€. Although this is much more advantageous than GmbH, it is necessary to consider the following;
While establishing UG, all company establishment expenses should be taken into consideration, even though it is possible to register a company with a capital of 1€, it should have sufficient capital to be able to continue its activities (rent, fees, accounting expenses, etc.) so that the company will be unable to continue its activities in a very short time. may have to file for bankruptcy.
Unlike GmbH, UG’s capital contributions can only be made in cash.
PROFIT DISTRIBUTION
UG cannot distribute all of its profits. It must have a reserve account to which 25% of its net profit will be transferred every year and this reserve amount cannot be used for anything other than capital increase.
RELIABILITY
By law, you have to write the full title of your company in the way it was legally registered. In other words, this situation causes your company partners or the company/persons with whom you are in cooperation to see whether you are a company with capital or a company established without capital, and this situation causes a new entry to the market. It may be a slightly lower image indicator for a company that does it.
However, this is not an obstacle especially for E-commerce companies. As your business grows, you may consider converting your company to a GmbH.
In addition, the fact that they have a GmbH company for the managers who want to live in Germany after the company is established, brings the seriousness of this business to the forefront in their applications.
WHAT ARE THE DIFFERENCES WITH NON-RESIDENT BRANCH?
The primary difference of GmbH from your TR company and the fact that we take VAT and start selling on Amazon; In Germany, you can sell on all E-commerce platforms covered by your category, open your company’s (.eu) European website and with this, carry out your B2C sales all over Europe, sell on E-commerce platforms in other European countries and open a physical store in Germany. In addition, in customs procedures, the transactions where the exits will be direct exports become easier, and extra representative customs clearance service is not required. The company to be opened can be a branch of your company in TR and you can benefit from government incentives/supports.
Note: Although the General Manager is not required to be an EU citizen or have a residence permit for company establishment, some banks may not open an account in Germany when there is no company representative, and tax offices may also have problems in obtaining a tax number depending on their region. Therefore, at least documents on behalf of the company. It is recommended to appoint a local authority who can.
Take over an Established Company Ready for Operation
Establishing a company in Germany can take 2-3 months. As Yalmans Business, we are able to sell/transfer our ready-made companies with bank accounts to our customers within 3 working days by shortening this process as much as possible.
- Address, Postal Service, Telephone Line
- Keeping the Monthly Accounting
- Preparation and submission of declarations to the Tax Office
- VAT Return, preparation of import VAT declarations and submission to the tax office
- Communication and coordination with official authorities
- Reporting and informing in TR language
- Preparation of Annual Balance Sheets
- Annual closing declaration fee