Opening a German bank account, acquiring the appropriate visa, and obtaining a residency permit are all steps in the process of starting a small business in Germany. After that, you will need to go to the tax office (Finanzamt) to register as a freelancer (Freiberufler) or a tradesman (Gewerbetreibender). Before filing a company registration to the tax office, the majority of individuals will need to get a trade license (Gewerbeschein).
Most business owners will come across the abbreviation GmbH. This is an abbreviation for Gesellschaft mit beschränkter Haftung, which is essentially the same as a limited liability corporation.
Founders of GmbHs must invest 25,000 € in capital or build up their capital from 1 € to the minimum amount. The formation of a GmbH must be notarized, which takes place once the registration procedure is finished. The cost of forming a GmbH in Germany (in the long run) will be 25,000 €, plus a 400 € registration charge and any extra notary fees.
If you are in the process of starting a business in Germany, remember that we are here to help!