4 ms·

Do you want to take the risk of losing your home just to start a business?

Scarblac 3y ago
Maybe the real difference is that such things might be possible in the US, but sound laughable in Europe? What would you need to mess up to be liable for huge sums as a single consultant company?
- xenospn 3y ago
  There’s tax benefits and other business-only products that require a business entity. Imagine if you’re a consultant and for whatever reason, you get sued or worse. That’s what the LLC is for.
- bouncing 3y ago
  It’s unlikely you’ll lose it all, but suppose you write a clever app — maybe a cvs editor. Suppose you find out your cvs editor infringes on a patent and you’re liable. Suppose some business suffers data loss and sues. These things do happen in Europe too. Also, it’s just a matter of professionalism. A sole proprietor isn’t very professional and many medium-size businesses won’t do business with sole proprietorships.
  - martijnvds 3y ago
    You can probably get insurance for that.
- twixfel 3y ago
  The UK is in Europe and it is easy to found an LLC. In the UK for example, there is no capital requirement at all. That's a lot les than 25k€.
  - upvota 3y ago
    _Was_ in Europe.
    - dpassens 3y ago
      What continent did they move to instead?
    - twixfel 3y ago
      Europe is a continent. They're not in the EU. If being in the EU is a requirement to be in Europe: that means Switzerland is not in Europe?
    - upvota 3y ago
      Fair enough - I meant to say: for business reasons, a UK LLC won’t do you much good in terms of hassle free company setup inside the European Union.
      - twixfel 3y ago
        The discussions is not about setting up an LLC in the EU, but specifically in Germany. Subsequent to that we are comparing this with other developed countries in the world, not all of which are in the EU, which is fine, and does not undermine the comparison.
    - rad_gruchalski 3y ago
      Where did they move to? I heard something about them leaving the EU, but Europe?
nolist_policy 3y ago
Personal insolvency sucks, but you won't actually loose your home here in Germany.
- JumpCrisscross 3y ago
  > Personal insolvency sucks, but you won't actually loose your home here in Germany Germany insolvency can take a decade, make getting a flat or even keeping your bank account a challenge and rarely results in debt relief to boot [1]. [1] http://www.privatinsolvenz-hilfe.org/en/german-bankruptcy-law.html http://www.privatinsolvenz-hilfe.org/en/german-bankruptcy-la...
  - nolist_policy 3y ago
    You couldn't have found a shadier source pushing FUD, if you tried to.
    - rad_gruchalski 3y ago
      Which does not change the fact that the process takes a decade.

Maybe the real difference is that such things might be possible in the US, but sound laughable in Europe? What would you need to mess up to be liable for huge sums as a single consultant company?

xenospn 3y ago
There’s tax benefits and other business-only products that require a business entity. Imagine if you’re a consultant and for whatever reason, you get sued or worse. That’s what the LLC is for.
bouncing 3y ago
It’s unlikely you’ll lose it all, but suppose you write a clever app — maybe a cvs editor. Suppose you find out your cvs editor infringes on a patent and you’re liable. Suppose some business suffers data loss and sues. These things do happen in Europe too. Also, it’s just a matter of professionalism. A sole proprietor isn’t very professional and many medium-size businesses won’t do business with sole proprietorships.
- martijnvds 3y ago
  You can probably get insurance for that.
twixfel 3y ago
The UK is in Europe and it is easy to found an LLC. In the UK for example, there is no capital requirement at all. That's a lot les than 25k€.
- upvota 3y ago
  _Was_ in Europe.
  - dpassens 3y ago
    What continent did they move to instead?
  - twixfel 3y ago
    Europe is a continent. They're not in the EU. If being in the EU is a requirement to be in Europe: that means Switzerland is not in Europe?
  - upvota 3y ago
    Fair enough - I meant to say: for business reasons, a UK LLC won’t do you much good in terms of hassle free company setup inside the European Union.
    - twixfel 3y ago
      The discussions is not about setting up an LLC in the EU, but specifically in Germany. Subsequent to that we are comparing this with other developed countries in the world, not all of which are in the EU, which is fine, and does not undermine the comparison.
  - rad_gruchalski 3y ago
    Where did they move to? I heard something about them leaving the EU, but Europe?

nolist_policy 3y ago

Personal insolvency sucks, but you won't actually loose your home here in Germany.

JumpCrisscross 3y ago
> Personal insolvency sucks, but you won't actually loose your home here in Germany Germany insolvency can take a decade, make getting a flat or even keeping your bank account a challenge and rarely results in debt relief to boot [1]. [1] http://www.privatinsolvenz-hilfe.org/en/german-bankruptcy-law.html http://www.privatinsolvenz-hilfe.org/en/german-bankruptcy-la...
- nolist_policy 3y ago
  You couldn't have found a shadier source pushing FUD, if you tried to.
  - rad_gruchalski 3y ago
    Which does not change the fact that the process takes a decade.