Nothing says official like a bunch of paperworks.
It’s been almost two months that I’m following Founder Institute program and this is the time to make my idea official. I need to make a company out of it. And since I am in Germany, this will involve a lot of paperworks.
This is doable. This is easy.
Yes, those are my mantra.
So let’s break down what I need to do in order to register a company in Germany:
- Decide what type of company that i’m going to register.
There are 3 types of company that are common in Germany: UG, GmbH, or AG (public company). On this case, I’m going to register an UG since it has the similar functions as GmbH with lower share capital to begin with. I can deposit any capital from €1 to €25,000.
2. Check with my current landlord if I could use my home address as a business address.
A lot of home rental contracts in Germany do not allow the renter to do business in it as well. If I get caught, Ican be kicked out of the home, or even get sued.
3. Do research on the internet on the availability of the company name.
Alternatively, I could also have a search here for the registered names of companies.
4. To cut notary cost, apply for approval of the company name on IHK a.k.a the chamber of commerce.
5. Once I got approval from IHK, I need to reach out to a notary and get an appointment.
For the list of notary public in Berlin, it’s available here.
6. Fill out all the forms provided by the notary.
The cost of notary is higher if there are a lot of customisations on the regular template. Also, when you have multiple shareholders in the company, then it gets more complicated.
Since I’m applying as a solo founder, I could just use the Musterprotokoll or the standardised form. The cost will be around €300.
7. After the notary, I need to open a business bank account and deposit my initial capital.
I will deposit around €500. I know that for UG I could deposit much less, but I do not want my company goes bankrupt right away after the notary charges her fee!
8. Once I have the notarised form, I will need to register my UG to IHK to make it official.
9. Tadaaaaa, looking forward to have Madam Mia, UG.
Oki, I should reduce time on the blog and start to work on my UG application.