How to open your own business in Germany 2024

When the visa is received, you can move on to the next stage – choosing a business activity. In this matter, business in Germany is quite similar to other countries. Here, too, one of the most popular options for beginning businessmen is an analog of an LLC (limited liability company) called a GmbH. This form of ownership provides favorable conditions for entrepreneurs:

Another option to start a business in Germany with a limited amount of finance is to choose the Mini-GmbH form of ownership. The conditions for registering a business will be very similar in this case. The only difference is that the entrepreneur will not need to confirm the presence of an authorized capital of 25 thousand euros. If he does not have that kind of money, he can still open his own business, but a quarter of the profit will need to be set aside until the amount is accumulated.

The options described above are suitable if a person wants to start a business in Germany. Some have already implemented their business idea in their home country but want to expand the scale and open additional companies in other countries. For such cases, a form of doing business called a “branch” is suitable. It can be either dependent or autonomous. In the first case, the new company will be completely subordinate to the main one – making business decisions, purchasing, selling goods, etc. Often, the creation of a dependent branch is required to find new partners and an additional market.

Is it profitable to buy a business in Germany?

An alternative option would be to purchase an existing business in Germany. In this case, completing all the necessary documents will be much simpler. However, certain disadvantages are still present. For example, you need to familiarize yourself in advance with all the intricacies of running your chosen business, since you will need to follow the previously stated business plan strictly. It is important to study the technologies, approaches, and instructions used. Otherwise, you may face the risk of closing your business or company.

Which business is better to open in Germany?

Since finding a job in a specialty for refugees in Germany is complex, one option is to open your own business.

• Among the areas of activity where it is better for refugees to engage in private entrepreneurship:
• beauty salons, hairdressers and barber shops;
• fast food;
• translation services;
• hospital rooms, dental services;
• Notary Services;
• opening of a hostel;
• real estate agency.

It is noted that in Germany, citizens of other countries have certain privileges when starting a business. The government does not regulate the minimum amount of authorized capital. The government permits the conducting of a business if the business is of interest or importance to the area.

Tips for people who are hesitant to open their own business in Germany

The first and main advice is to learn the language. This is the key to success. At one time, when I moved to Germany, my first serious losses were due to a lack of knowledge of the language. The next tip is to not forget about business insurance. Next, you need to study the German system, how it works, the bureaucratic aspects, how to pay taxes, and what amount.