Wise Business Group

January 17, 2025
Export license in Germany

Export license in Germany

Obtaining an export license (Ausfuhrgenehmigung) from the German Federal Office for Economic Affairs and Export Control (BAFA) requires the following eight simple steps: 1. Check if the goods you considered goods require a license. 2. Register with BAFA through the ELAN-K2 system. 3. Collect required documents such as end-use certificates and invoices. 4. Submit your request for a license to BAFA online. 5. Wait for the BAFA review and be ready for additional requests! 6. Receive BAFA's final decision to approve or provide feedback on your application. 7. Follow the conditions related to the license strictly. 8. If necessary, renew your license for continuous export. Note: Cases involving exports of goods with dual military and civilian uses or exports to sanctioned countries require greater caution! By carefully following the above steps, you can ensure your success in obtaining an export license in Germany and starting your export business.
December 17, 2024
Regulating the company object in Germany

Regulating the company object in Germany

A brief look at prominent points for regulating the company object in Germany • Accuracy and transparency: State your company object clearly and understandably and use general terms to maintain flexibility. • Alignment with business activities: Mention all of the company's current and anticipated activities in your chosen topic. • Legal compliance: Ensure that your company's activities comply with German laws and obtain required licenses for specific industries. • Tax considerations: Structure your company object in Germany free of unwanted tax consequences. • Broad vs. limited scope: Avoid overly general terms and add essential details to the subject of your activity. • Industry-Specific Details: Focus on specific industry areas such as manufacturing, services, and research. • Inclusion of side activities: Specify additional company activities such as administrative duties or side investments. • Flexibility for future reforms: Set your activity theme so that you can change it. • Professional language: For clarity with legal authorities, use formal legal and business language. • Consulting with experts: Consult an attorney or tax advisor for legal and tax compliance.
November 20, 2024
capital for a business in Germany

Capital for business in Germany

In summary, we can say that the initial capital needed to start a business in Germany consists of the following factors: • The chosen business structure • The industry sector in which you are going to operate. • The geographical location of the business in Germany • The operational scale • Market conditions • Technological needs • Unforeseen costs It is necessary to carefully evaluate all of these factors and make necessary plans for them before starting your business. In this case, you can successfully go through the business starting process in Germany and ensure the viability of your company.
September 26, 2024
Financial Requirements for Germany Residency

Financial Requirements for Germany Residency

An overview of the financial requirements for obtaining a self-employment residence permit in Germany As an applicant for a self-employed residence permit in Germany, you must provide documents based on having sufficient financial resources to start a business and cover your expenses in Germany. Also, you need to prove that your business has a good chance of success in the German market and can be favorably profitable. Other financial requirements include: • A document based on obtaining private or public health insurance in Germany • Realistic predictions of how to make money in the first years after starting a business in Germany • A document based on the ability to provide the minimum required initial capital and start-up costs Evidence of the ability to cover other expenses in a business setting up procedure in Germany, including licensing fees, office space, and operational requirements.
September 16, 2024
Import or export in Germany

Import or export in Germany

A summary of the crucial points for self-employment through import or export in Germany To answer your questions regarding import or export in Germany, you can get help from the following institutions and authorities: Rules and regulations: • German Federal Office of Economics and Export Control (BAFA): It is possible to see the regulations related to import or export restriction of commercial goods here. • German Federal Agriculture and Food Agency (BLE): This department is responsible for checking export or import restrictions of agricultural products. • Customs: You should get complete information about customs rules and regulations. You can access this information through the Atlas electronic system and handle your customs affairs online. Information on countries, markets, and a database for searching business partners • Foreign chambers of commerce, as your contacts in the target country, can provide information in this field. • German trade and investment also provide great information and support international businesses. • You can also search for information and business partners on the iXPOS portal. Export insurance • Click here to enter the federal information portal related to export insurance in Germany. Foreign trade statistics and data • The Federal Bureau of Statistics provides foreign trade data. • These data are presented graphically in the Foreign Trade Statistical Atlas.
August 24, 2024
Querying the information about a company in Germany

Querying the information about a company in Germany

A brief about querying the information of a company in Germany You can use the following sources if you intend to buy a specific company in Germany and want to inquire about some tax, legal, and credit information before purchasing the company: 1. Inquiring about the company's registration history, legal status, and its managers through the Handelsregister website 2. Access to annual reports, balance sheets, and financial information of the company through the Bundesanzeiger website 3. Inquiring about the company's possible lawsuits through local judicial authorities in Germany 4. Inquiring about the company's tax situation through tax consultants or local auditors 5. Receiving a comprehensive report of the company's financial, credit, and judicial status through validation companies
July 17, 2024
Start-up grant in Germany

Start-up grant in Germany

An overview of start-up grants in Germany If you dream of starting your own business in Germany, you must be very persistent and incur huge expenses. Most start-up entrepreneurs in Germany cannot provide enough capital to start a business alone. There are many options for financing businesses in Germany, especially in the start-up phase. The most important is the start-up grant awarded to young entrepreneurs by the German Employment Office. To apply for it, you must have a coherent business plan and obtain confirmation from specialized and reliable institutions in Germany indicating that your business idea is viable. You can also use a KfW start-up loan to finance your business or receive a grant from other development or guarantee banks in Germany.
June 25, 2024
KGaA legal form in Germany

KGaA in Germany

The legal form of limited partnership with shares (Kommanditgesellschaft auf Aktien, KGaA) in Germany is a combination of the structure of both joint stock companies (AG) and limited partnership (Kommanditgesellschaft). A limited partnership with shares (KGaA) like stock companies in Germany must be commercially registered. Also, it should register its activity with the regional trade office.
May 19, 2024
UG company in Germany

UG company in Germany

Information on UG or mini-GmbH companies at a glance • The entrepreneurial company (UG) has existed since 2008. • It is a particular form of limited liability company (GmbH), not an independent legal form. • It is also colloquially called a mini-GmbH. • The required capital for establishing a UG in Germany is 1 euro. • Shareholders must keep one-quarter of the company's annual net profit to compensate the initial capital. • By providing 25000 euros, you can convert it to a GmbH.
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