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Accounting Fundamentals for Entrepreneurs in Germany

Accounting Fundamentals for Entrepreneurs in Germany What is accounting? Accounting records all payments such as income from sales, expenses for raw materials and supplies or the servicing of liabilities. Investments and the associated depreciation also fall within the scope of accounting. Particularly in the case of income and expenses, comparisons can then be made between […]

Writing Invoices as an Entrepreneur in Germany

writing invoices

Writing Invoices as an Entrepreneur in Germany What to consider when writing invoices Founders and entrepreneurs need to know the legal issues when writing an invoice. First and foremost, there is the tax office, which is mainly concerned with sales tax and profit taxation. In the next sections we will thus take a look at […]

Health Insurance for Entrepreneurs

Health Insurance for Entrepreneurs Although freelancers and self-employed persons are also subject to a general insurance obligation, freelancers and self-employed persons enjoy a freedom of choice and can choose between voluntary statutory and private health insurance. ┬á Statutory Health Insurance ­čÜĹ Freelancers can therefore choose between all statutory health insurers and also switch if wanted. […]

Opening a Business Bank Account

Opening a Business Bank Account in Germany For corporations, it is a legal obligation to open and maintain a business account without any gaps. For all other legal forms, there is no purely legal obligation to maintain a separate business account. Mandatory: GmbH UG gGmbH and gUG AG Non-mandatory: Freelancer Small businesses Businessman e.K. GbR, […]

How to Develop a Financial Plan

How to Develop a Financial Plan Building on the ways of financing, we will talk today about developing a solid financial plan. In the financial plan, you outline the expected financial development of your company: where your revenue is going to come from, how much costs you have and how you will secure the company’s […]

Ways to Finance Your Business

Ways to Finance Your Business When you start your own business, you have a wide variety of financing options available. However, not all of them are equally suitable for every start-up. The amount of financing, the purpose of the financing, the nature of your business, your risk tolerance and other factors play a role in […]

Costs of Starting a Business in Germany

Costs of Starting a Business in Germany At the beginning of any business foundation, there are often formation costs and investments so that the company can start regular business operations. Ideally, founders should consider these costs early enough as they need to cover up for them with any financing activities they undertake. Generally formation costs […]

Tax Number and Registration at the Tax Office

Do I need a visa to start your business? The answer to this question generally can be divided into three parts: German or EU/EFTA citizens Third countries without a visa requirement Third countries with a visa requirement ┬á German or EU/EFTA citizens If you have a German or EU/EFTA citizenship youÔÇÖre lucky. You have full […]

Legal forms in Germany

Legal forms in Germany A legal form creates the legal framework for entrepreneurial activity. The choice of legal form influences tax and accounting obligations, liability or the external appearance including the company name. Furthermore, the type of legal form determines the formalities involved in setting up a company, as well as the way in which […]

Defining your gainful employment

Do I need a visa to start your business? The answer to this question generally can be divided into three parts: German or EU/EFTA citizens Third countries without a visa requirement Third countries with a visa requirement ┬á German or EU/EFTA citizens If you have a German or EU/EFTA citizenship youÔÇÖre lucky. You have full […]