Germany client case studies in 2024
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IT/Infocom Security firm buys German shelf company
Background
- Our Singapore Client needed to sign a contract with a potential Client in Germany at short notice;
- Because of the tight timeframe, we recommended an immediate Germany turnkey solution to our Client.
Engagement planning
- Our firm confirmed that a German Limited Liability Company (GmbH) was the best legal structure for our Client;
- We advised our Client that the company would need €25,000 in paid up capital, and that he would need to travel to Germany to open a corporate bank account for the company;
- Our Client promptly provided us with due diligence documents and settled our complete Germany turnkey invoice;
- Our team prepared i) a detailed step-by-step engagement project plan ii) a quality business plan to assist with corporate bank account opening and iii) a virtual office service agreement.
Corporate structure change
- Within three days, we provided the German shelf company details, along with scanned corporate documents, to our Client;
- Within two weeks, our Client signed and notarised a Power of Attorney (PoA) with the German embassy in Singapore enabling the transfer of shareholder and director to take place. Our Client then couriered the original documents to our Germany office for submission to German Companies Registry;
- Two weeks after submitting the documents, our team completed the corporate structure changes with the German Companies Registry and appointed our Client as the sole director and shareholder of the German company.
Corporate bank account opening
- Within one week of our Client becoming the sole director and shareholder, we contacted multiple German banks to secure their interest in opening a corporate bank account for the German company;
- Commerzbank Munich confirmed its interest to onboard our Client’s business. However, the bank asked our Client to visit a branch in the city for a face-to-face meeting with the bank officer. At this point, we actioned this travel policy;
- Prior to the bank meeting, we sent Our Client a bank meeting agenda, including a list of documents to be presented to the bank officer, and potential questions the officer may ask;
- Our Client traveled to Munich for the meeting, and the account was opened on the same day;
- Over the next two weeks, Commerzbank couriered the Internet banking token to our Client’s preferred address.
Challenges
- There was a delay in obtaining the legalised Power of Attorney, because the German embassy in Singapore took around two weeks to complete this procedure;
- Because of the above, to save time while we were waiting for the PoA, we advanced the corporate bank account opening process so our Client would have a banking solution once the company shareholder and director details had been transferred.
Conclusion
- Within six weeks, our Client had a German shelf company and fully-operational Commerzbank corporate bank account;
- Our Client was able to sign the contract with his German customer;
- We are proud to have assisted our Client expand into Germany against a tight timeframe, and we wish his firm all the best for the future.
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Our Spanish Client purchases ready-made company in Germany
Background
- Our Client is a Spanish national resident in Panama. Our Client has existing companies in UK and Panama, and was subsequently looking to extend his footprint into Germany;
- Our Client is the exclusive representative agent in Iberia and Central America of a large Swiss-listed company engaged in asset management. The company has a market capital of 20 billion euros;
- Following Brexit uncertainties, in January 2019 our Client decided to establish a company in Germany. Our Client decided to purchase our Healy Consultants Group dormant Germany UG shelf company. This company was had yet to be registered for tax, and had not opened a bank account.
Engagement planning
- Healy Consultants Group prepared and emailed our Client an Engagement Advancement Proposal, including a formal invoice, engagement letter, due diligence checklist and a list of our existing and past Client for professional reference;
- Our Client promptly provided us with the due diligence documents and settled our complete invoice. Thereafter, Healy Consultants Group prepared i) a detailed engagement project plan mapping out a step-by-step plan to engagement completion ii) a quality business plan;
- Healy Consultants Group also prepared a list of documents that our Client needed to i) certify by a Notary Public and ii) attest at the German embassy in Panama;
- In the end, the Client decided to visit Germany to notarise the document during a business trip to Europe.
Company registration
- Within one day Healy Consultants Group supplied our Client with the shelf company’s i) registration numbers ii) registered address iii) proof of capital deposit (€500) and iv) proof of dormancy status;
- Within one week, the new Germany corporate structure was confirmed;
- Healy Consultants Group prepared the required documents necessary to i) change the company name iii) change the company business activities and iv) appoint our Client’s preferred directors and shareholders;
- During our Client’s trip to Germany, Healy Consultants Group accompanied the Client to the notary public and certified the required documentation;
- Immediately after, Healy Consultants Group submitted the change of company structure documentation to the Government. It took the German Authorities three weeks to complete the same;
- Healy Consultants Group proceeded to register the company for tax within three weeks.
Engagement completion
- Healy Consultants Group couriered to our Client a company kit, including i) company incorporation documents; ii) company stamp and iii) a Client feedback survey.
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Management software giant from USA expands to Germany with a ready made solution
Background
- Our Client is a software developer for work and safety management applications and platforms for a wide array of industries. Having found Healy Consultants Group business website through Google, our Client’s director contacted us in June 2018 to determine how the he can relocate together with his family and obtain a German business visa, and register a new subsidiary, as German GMBH;
- After comparison of several structures with our staff and our affiliate German lawyer during their meeting in Munich, our Client decided to proceed and engage Healy Consultants Group for the purchase of a ready made company.
Engagement planning
- Healy Consultants Group prepared and emailed our Client an engagement advancement proposal including a formal invoice and engagement letter with the agreed services including i) German ready made company number supplied within 2 days; ii) Munich business address; iii) Commerzbank corporate bank account and iv) ongoing accounting and taxation support;
- Thereafter, Our staff prepared and supplied our Client with an accurate detailed engagement project plan mapping out a step by step plan to engagement completion as well as a quality business plan to assist with Commerzbank account opening;
- Healy Consultants Group introduced our Client to a business visa specialized affiliate company to ensure the application and issuance of the visa and dependent visas goes without obstruction.
Entity transfer
- Healy Consultants Group supplied our Client with a ready made shelf company corporate documents and a detailed power of attorney required for the corporate structure changes. The power of attorney was certified in the USA, by the management of the parent company with the Secretary of State as sole authorized body, responsible for certifications of documents to be used in Germany. Following receipt of completed corporate document set, the corporate structure was updated to reflect new directors and new shareholders of the ready made shelf company.
Corporate bank account opening
- Healy Consultants arranged for the Client’s director to meet with our preferred Commerzbank relationship officer. Terms of the corporate bank account were agreed and the team proceeded to sign the bank account forms. Within 1 week after the meeting Commerzbank confirmed our clients account had been successfully opened and the Client received debit card and token device.
Engagement completion
- Upon receipt of the online banking token, the Client received on the ground in Munich a complete company kit comprising i) the company registration documents and ii) bank correspondence was compiled and couriered to the client, completing the engagement.
