Entrepreneurial Society

The limited liability company of entrepreneurs is the domestic alternative to the English limited. The Federal Government plans in the wake of the reform of the GmbH a facilitated establishment of GmbH, as well as an initial variant of GmbH: the entrepreneurial society. After the current consultation of experts, the draft law should enter into force in the third quarter of 2008 or at the turn of the year. Officially, yet the third quarter is target. But several changes also fiscal nature are expected, a force probably makes more sense to the turn of the year, which coincides with the fiscal year often. The planned new entrepreneurial society (UG) should represent mainly offer an alternative to the English limited.

Theoretically little capital is required for this society. Caution is but, because the UG just with the addition of entrepreneurial society (limited liability) or as UG (limited liability) must operate. Binding required bracket is crucial here. This addition should be missed definitely not and he must not be cut off also. Those who disregard this, shall be liable in addition to the company’s assets including his entire personal fortune. Practically not one euro goes also for the establishment of the entrepreneur society (the entrepreneurial society is 1-euro GmbH also referred to or mini-GmbH). Because from insolvency point of view and due to additional start-up costs at least 400 EUR is required. Bearing in mind that the establishment of a limited more than just a pound is also required for, the mini GmbH will be a clear domestic alternative.

Also are the bureaucratic requirements, as well as the language barriers with the English company in the practice should not be underestimated. Last but not least, the confidence of potential customers may be significantly greater in a domestic company. For founders of new businesses, which rely on a limitation of liability the company’s assets, so the wait to can be worth. Robert Hartl

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