Germany
UG
–
Unternehmergesellschaft
mit beschränkter Haftung
The
German equivalent of the English Limited and an alternative to the
Dutch Flex BV the UG, also called the "GmbH-light ' The UG has a
low capital requirement and is therefore particularly interesting for
starters. In addition, the costs of establishing UG are lower than a
regular GmbH.
The
shareholders are liable only for the amount for which they
participate in the UG. Finally. A 'UG' is in fact required to
annually reserve 25% of the profit as capital. When the minimum
capital of a GmbH (€ 25.000,-) has been reached, it is possible to
convert the UG in a 'normal' GmbH, this conversion is not mandatory.
Points of Intrest to
incorperate a UG:
-
Company
name:
The chosen company name is appended "UG (limited
liability)" or "entrepreneurial company (limited
liability)."
-
Company stamp:
Not mandatory, but often
very useful
-
Director/shareholder
-
Bank account in the
name of the UG
-
Opening balance sheet: created by your German
tax advisor for you
-
Trade Certificate: The business license
can be obtained from your local community
-
Shareholders'
agreement: This is also called statutes. For the UG a simplified
model statutes can be used
-
Notary: For the certification of
the shareholder agreement, a notary is required
-
Entry in the
commercial register: According to the notarization of the Statute.
To
order these services please
contact us
for a tailored offer.