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Doing Business in Germany DOING BUSINESS IN GERMANY HLB Deutschland GmbH Wirtschaftsprüfungsgesellschaft . doing business in Germany foreword This booklet has been prepared for the use of clients, partners and staff of HLB International member firms. It is designed to give some general information to those contemplating doing business in Germany and is not intended to be a comprehensive document. You should consult us, therefore, before taking further action. HLB Germany and HLB International cannot be held liable for any action or business decision taken on the basis of information in this booklet. HLB Germany May 2011 1 Doing Business in Germany about HLB International Formed in 1969, HLB International is a world-wide network of independent professional accounting firms and business advisers. The network comprises member firms in over 100 countries who, collectively, have over 1,700 partners with 14,000 staff in 450 offices. Member firms provide clients with a comprehensive and personal service relating to auditing, taxation, accounting and general and financial management advice. Up-to-date information and general assistance on international matters can be obtained from any of the partners of HLB Germany listed in this booklet or from the Executive Office in London: HLB International Executive Office 21 Ebury S treet London SW1W 0LD UK Telephone +44 (0)20 7881 1100 Fax +44 (0)20 7881 1109 Email: [email protected] Website: www.hlbi.com HLB International is a world-wide network of independent professional accounting firms and business advisers, each of which is a separate and independent legal entity and as such has no liability for the acts and omissions of any other member. HLB International Limited is an English company limited by guarantee which co-ordinates the international activities of the HLB International network but does not provide, supervise or manage professional services to clients. Accordingly, HLB International Limited has no liability for the acts and omissions of any member of the HLB International network, and vice versa. Doing Business in Germany 2 contents FOREWORD 1 ABOUT HLB INTERNATIONAL 2 GENERAL INFORMATION 4 Introduction Location, Climate and Infrastructure Population Government and Legal System Economy and Currency INVESTMENT FACTORS Special Features Government Incentives Banking System and Sources of Finance Foreign Exchange Controls Employment Regulations TYPES OF BUSINESS ORGANISATIONS Principal Forms of Business Legal, Accounting and Audit Requirements TAXATION General Structure Corporate Taxation Personal Taxation Other Taxes - Withholding Taxes - Double Tax Relief and Treaties - Indirect Taxes - Capital Taxes - Transfer Taxes & Stamp Duty 3 Doing Business in Germany general information Introduction Globalisation presents new challenges and competitiveness demands flexibility. Germany is Europe’s economic Germany is taking advantage of its engine. The world’s third largest economic upswing to reform its economy offers a large domestic economic structures, consolidate public market and easy access to growth financing, and invest for the future in markets in the enlarged European order to remain the leading business Union. As world champion in location in Europe and one of the most exports, Germany accounts for competitive investment locations in the around 10% of world trade. High world. performance combined with declining unit labour costs are the Location, Climate and Infrastructure decisive factors for competitiveness. The professional standards of Germany lies at the heart of Europe and clerical, technical, and managerial covers an area of approximately 357,104 staff are high. Labour relations are square kilometres (137,878 square stable and industrial disputes rare. miles). Neighbouring countries are The geographical location and Austria, Belgium, the Czech Republic, excellent infrastructure contribute to Denmark, France, Luxembourg, the the importance of Germany as a Netherlands, Poland and Switzerland. strategically outstanding investment location. The climate is maritime in the northern parts, continental in the south and Investments require security. eastern parts, but mild in general with Germany actively maintains a legal only few extremes. environment known for its integrity, safety, reliability and transparency. Germany has Europe’s most advanced Contractual agreements are secure telecommunication infrastructure and the and intellectual property is strictly most reliable energy infrastructure. All protected. Social, economic and trans-continental paths meet here in political stability provides a solid Europe’s Centre, offering excellent bases for corporate projects. proximity to customers, suppliers, and Germany has incentives ready up to sources. A dense network of roads, 50% of capital expenditure. There are seaports, inland ports, waterways, a great many ways to use public airports and railroads ensure on-time funds for investment projects. delivery. Germany offers many opportunities for doing business all over Germany is one of the world’s leader Europe and worldwide – regardless of east in innovation. Creativity and courage or west. have generated countless innovative solutions. R & D is one of Germany’s favoured causes, promoted with funds from the federal government of some € 6 billion annually. Doing Business in Germany 4 Population In addition, around 2,100 federal laws govern practically all areas of life. Some The population of Germany is about 82.3 areas are governed by the 16 Federal million. Due to the size of its population, States on a regional basis (e.g. Education, Germany is the largest consumer market Police-Law). within the European Union. An excellent standard off living leads over 7 million The judicial system is operated by the foreigners to make their home in Federal Constitutional Court Germany. Educational opportunities are (Bundesverfassungsgericht) and Courts in diverse, accessible, and excellent. Besides five different judicial branches. Each German, many citizens speak one or two branch has its own Federal Supreme other languages of which English, French Court and lower courts in each Federal and Russian are the most common. State. Additionally, there is a Supreme Court for Intellectual Property as a sixth Government and Legal System Supreme Court (but without specialised lower courts). For business success a reliable framework of underlying conditions is • The ordinary courts, Lower Court one of the most important factors. (Amtsgericht), District Court Germany has been successfully (Landgericht), Court of Appeal established as a democratic home for (Oberlandesgericht) and Supreme modern, pluralist and open-minded Court (Bundesgerichtshof) have people. Germany is a modern jurisdiction over civil matters not constitutional Republic. The principle of assigned to special courts, and are the divisions of power guides the overall responsible for criminal matters. parliamentary democracy, which is based • Labour courts rule on disputes on a multiparty, coalition-based system. between parties to a collective labour The Government is committed to agreement, between employers and transparency, citizens rights, freedom of employees as well as certain special speech and press. cases. There are Labour Courts, High Labour Courts and the Federal 16 Federal States called “Länder ” (Baden- Labour Court. Württemberg, Bavaria, Berlin, Bremen, • Administrative courts decide on public Hamburg, Hesse, Lower Saxony, North law disputes if they are not assigned to Rhine-Westphalia, Rhineland-Palatinate, another court. There are Schleswig-Holstein, Saarland, Administrative Courts, High Brandenburg, Mecklenburg-Vorpommern, Administrative Courts and the Federal Saxony, Saxony-Anhalt and Thuringia) Administrative Court. form together the Federal Republic of • Tax courts decide on all matters of tax Germany. law and excise duties. Surprisingly, there are no lower courts, but only the Companies can benefit from a reliable Tax Courts as High Courts (normally legal system. The Constitutional Law one per Federal State) and the Federal provides freedom and stability – although Tax Court. initially only for the Germans in the West • Social courts are responsible for of the nation that remained divided until disputes relating to social security 1990. The primacy of constitutional insurance, unemployment insurance rights, the definition of the principles of a and other sectors effecting social democratic and social federal state, and rights. Again, there are Social Courts, the foundation of a Federal Constitutional Higher Social Courts and the Federal Court that watches over adherence to the Social Court. constitution – these are the basic cornerstones of German democracy. 5 Doing Business in Germany Economy and Currency German firms have been able to increase their competitive strength considerably in Germany is an industrialized nation with recent years. Exports are flourishing and stable economic conditions, an efficient an increasing number of enterprises have industry and highly qualified workers. been established, in particular by foreign The geographic location and excellent investors. With € 460 billion in foreign infrastructure contribute to the investments, Germany is a much sought- importance of Germany as a strategically after business destination. Approximately outstanding investment location. 40,000 foreign companies – including the Germany provides a good and solid world’s 500 largest corporations – investment climate and the economic operate here. policy generally welcomes foreign investment.
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