"In Germany, starting a for-profit business involves legal steps; the most common company types are GmbH and AG, each with distinct characteristics and requirements."
"A GmbH, a limited liability company, protects shareholders from personal liability, requires a Managing Director, and has specific capital and documentation requirements."
Starting a for-profit business in Germany involves navigating specific legal frameworks, particularly the GmbH (limited liability company) and AG (joint stock company). A GmbH is preferred due to its limitation on personal liability for shareholders, needing a minimum capital of €25,000, while allowing a single founder. The structure requires appointing a Managing Director to represent the company legally. Alternatively, an entrepreneur can start with an Unternehmergesellschaft for just €1, although these are meant to transition into a GmbH eventually by saving a portion of profits.
Read at The Local Germany
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