self employment in Germany
November 3, 2023
You must go through the qualification recognition process to immigrate to Germany. During this process, it will be determined whether your qualifications are comparable to professional […]
November 25, 2023
• According to the principle of freedom of trade, all people can register a business in Germany if they provide the necessary documents, permits, and approvals.
• If you set up a business or branch, start a commercial activity, take over, relocate, or expand a business in Germany, you must register it. However, freelancers are exempt from business registration.
• As an entrepreneur in Germany, it is necessary to register your business at the latest until the start of activity. Otherwise, you may face fines or penalties.
• The local trade office of the municipality or city where the business is located in Germany is the responsible body for registration.
• You must complete and submit the relevant form when registering your profession in Germany. Also, bring your passport or ID card with you. Depending on the type of business, you may need to provide additional documents.
December 16, 2023
Here in Wise Business Group, we will explain how a CEO of the company in Germany who is a shareholder, can be recognized as a self-employed, […]
December 17, 2023
One of the most common questions we face these days is buying a ready-made business in Germany, which can be very attractive to investors. However, you […]
December 19, 2023
A sole proprietorship is one of the most common and popular legal forms for startups in Germany. This type of company has numerous tax and legal […]
December 25, 2023
In recent years, we have seen significant growth and unprecedented promotion of entrepreneurship in Germany. The reason for that can be having a robust and dynamic startup ecosystem and a supportive business environment. Germany is known for advanced and reliable infrastructure, innovation, and excellence in engineering sciences. In this article from Wise Business Group, we will explain why Germany has become an attractive destination for entrepreneurs.
January 1, 2024
• A small business in Germany can provide the prerequisites for moving towards self-employment. This type of business is attractive for founders who want to start without worries, with low capital, or as a side business.
• Business registration and obtaining a license is essential for starting a small business in Germany. Entering the commercial register is not required. However, depending on the business, some documents may be required.
• Accounting for a small business in Germany is simple and is done using surplus income accounting. Also, there is no obligation to keep accounts and publish annual financial statements in the Federal Gazette.
• You can use the legal forms of sole proprietorship, UG, GbR, or GmbH to set up your small business in Germany as an individual or a group. However, you should pay attention to things such as liability, requirements related to double-entry bookkeeping, and entry into the commercial register.
January 13, 2024
• Choosing the right location can significantly impact the success of your business in Germany, specifically if the considered business depends on the presence of customers.
• If you do not do a proper location analysis before establishing your business in Germany, you may have to pay for it by moving the location, poor performance, or even bankruptcy of your business.
• When choosing the right location for your business in Germany, you should pay attention to demand, competition, tax costs, transport connections, related requirements, labor availability, financing opportunities, and working and living conditions there.
• If the cost of the chosen property is more than your budget, you can cover it using your savings or compensate for it by earning money from methods such as subletting, adding business partners, or holding events.
February 3, 2024
A brief overview of due diligence before buying a business in Germany
A thorough evaluation and due diligence of a business before buying it in Germany is mandatory. It will help you understand the various financial, operational, legal, and strategic aspects of the business you want to buy.
To evaluate a business in Germany, you must carefully review various items such as financial statements, compliance with laws and regulations, employment contracts, tax issues, manufacturing and supply chain processes, relationships with customers and suppliers, intellectual property, IT infrastructure, environmental obligations, insurance, the quality of income and key management personnel of the company.
