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Yes, because Germany already has a “LLC”, its GmbH. but if you have less than 25k you have to call yourself “UG (haftungsbeschränkt)”, which, in the end, has th
by shreddit 4y ago
Yes, because Germany already has a “LLC”, its GmbH. but if you have less than 25k you have to call yourself “UG (haftungsbeschränkt)”, which, in the end, has the same meaning, only spelled out…
it’s like a warning message or something
- justusw 4y agoUG also stands for unlautere Geschäfte, dishonest dealings ;)
- MonkeyClub 4y agoExactly, it's like the government decided to mark all low-/entry-level entrepreneurship as potentially fraudulent - or urge towards that 25K deposit. In practice it becomes an invisible glass ceiling, you just work/pay your way through it when it's time, otherwise keep playing in the shallow end for as long as you want. Win-win, surely, but patronizing nevertheless.
- Barrin92 4y agoit's more like a glass bottom, and for good reason because corporations in Germany (also in the Nordics) have a stabilizing social function. Firms exist to consolidate towards higher productivity. The idea is to avoid an army of one-man businesses without healthcare or insurance or any significant output.