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> GmbH took 5 months due to international founders Wow that's insane. Compare that to creating a Delaware LLC and getting an EIN. No wonder there are hardly an
by NavinF 4y ago
> GmbH took 5 months due to international founders
Wow that's insane. Compare that to creating a Delaware LLC and getting an EIN. No wonder there are hardly any startups in Europe.
- rad_gruchalski 4y agoThat’s how long it took Finanzamt to do all background checks on all documentation.
- jojobas 4y agoIt appears deliberate. They don't necessarily want a bunch of Delaware-style entities doing multilayered shell shenanigans (they outsourced it to the Netherlands).
- vidarh 4y agoHaving spent the last few years analysing European startup data, the idea there are "hardly any startups in Europe" does not match my experience. Fewer who seek VC funding, sure.
- barry-cotter 4y agoIf you don’t intend to get big, fast, then you’re founding a normal business. Seeking VC funding isn’t a necessity but it’s certainly correlated with that desire.
- vidarh 4y agoNote I said fewer who seek VC funding, not that there aren't plenty.
- deleted 4y ago[deleted]
- sooyoo 4y ago
- Toutouxc 4y ago> GmbH took 5 months due to international founders > No wonder there are hardly any startups in Europe Please remember that the process is different in each country. AFAIK the equivalent process takes less than a month in my country, and that's mostly waiting for the paperwork to go through and registering for VAT (which is technically optional, but almost always necessary). There are also companies that will do all this for you for basically pocket money.
- origin_path 4y agoYes, it can be worse! In Switzerland the process is quite similar to Germany, but the pain really starts not with founding the firm but when you first start to employ people. Or indeed, when you need to shut the company down. Source: I've done this. The first time I tried to shut a company down, my advisors (who you need to handle the local paperwork) didn't tell me about the "three strikes" requirement in the public register. So it took five years to get the company fully shut down.