Doing business in Germany

A guide covering everything you need to know
about doing business and investing in Germany

Executive summary

Germany: Overview

As one of the strongest economies in the world, situated in a unique location in the heart of Europe, Germany is a great place to do business in. A highly skilled available workforce, a political stable environment along with the availability of both, large multinational corporations as well as small and medium sized businesses are further reasons to conduct business in Germany.

In addition to certain cultural and language barriers Germany is characterized by a very complex system of regulations and tax rules.

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If you are thinking about doing business in Germany, Schlecht & Partner can help you navigate through these challenges and help you focus on the core part of your business ensuring your business success in Germany.

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Short facts

Currency

Euro

Capital

Berlin
(Population: 3.65 million)

Language

German

Major industries

Automotive, mechanical engineering, chemical and electrical industries

Doing business in Germany

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Chances and challenges of doing business in Germany

Doing business in Germany can be quite challenging and frustrating in the beginning, but when overcoming these challenges, an investment in this strong and politically stable economy will be rewarding.

The main challenges of doing business in Germany are:

Language

extensive and complex

While more than half of the population in Germany is able to speak English, for official communication with authorities, filling out forms etc. it is necessary to be able to speak German.

Complexity of business and tax laws

Most extensive in Europe

Navigating through all the large number of different laws and government organization can be a challenging, frustrating and timely process.

Culture

hardworking and determined

Germans are known for being very direct, honest and on time. In a business environment it is further very important to be formal.

While facing the above described challenges, the chances and benefits of doing business in Germany are:

01

Strong economy

As described earlier, Germany is the largest economy in the European Union and the fourth largest economy in the world. Many multinational corporations are headquartered in Germany alongside with a large number of medium and small sized businesses. These small and medium sized businesses are considered an important driving force of the German economy.

02

Strategically great location

Being located right in the centre – the heart – of Europe, doing business in Germany enables corporations not only to access the very important European market very easily and within short distances, but also gives access to perfectly positioned shipping and air cargo hubs for global trading.

03

Availability of highly educated workforce

More than 80% of the German workforce has received a formal vocational training, is in possession of a trade or technical school certificate or an academic degree. Germany’s share of university students in the natural sciences, mathematics, statistics, computer sciences, and engineering is the highest in the European Union, with close to 40% of all German students. According to OECD statistics, Germany has the highest rate of graduates with a doctoral degree in the natural sciences and in engineering.

04

Politically stable

While the Federal Republic of Germany is one of the younger political systems in Europe, Germany offers a secure and highly developed political framework and can be considered politically very stable in a global context. Germany both is the economic and political backbone and motor of the European Union.

Our services to help your business be successful in Germany

Whether you are planning on establishing a business in Germany or you are already doing business in Germany, or you are an individual, owning e.g. real estate in Germany, we are happy to assist you in all tax, accounting, or finance matters.

We can provide detailed advice in respect of which business form is the right one for your specific case, setting up and registering the business, as well as assisting you with the ongoing tax compliance and accounting and audits.

As a founding member of the global network XLNC, we have proven relationships to lawyers, auditors and tax consultants in almost all relevant countries around the world. Due to our commitment and engagement within the network as well as our strong focus in the area of international tax law, we offer our clients solutions that go beyond borders.

Our clients therefore have the advantage that we assist in foreign issues and also offering coordination with our foreign based partners, keeping the focus on the core issues and also being dedicated to high-quality and cost-efficient advise.

Our specific services contain, but are not limited to:

Transaction & Financial Advisory Services
Auditing & Accounting
Tax Advisory

Our firm

Schlecht und Partner are experienced auditors, accountants and tax advisors. Our partnership relies on a long-term cooperation and a common understanding of the needs of a modern client service and project consulting.

We advise entrepreneurs, companies and individuals in all business and tax matters and conduct audits for medium-sized companies on a variety of occasions and issues. Based on our broad technical and industry expertise, we have a vast experience in SME consulting. Our international clients are from a broad range of industries.

With our long-standing experience in cross-border client engagements we offer a proven approach for foreign based and international oriented clients.

Schlecht und Partner bundles different specialisations and forms a powerful team in complex and international consulting engagements.

Personal competence
We are dedicated to a high level of expertise. This requires and is ensured thru continuous education and coordination with colleagues. In addition to our focus on expert knowledge, it is our belief that we can only be a reliable and competent partner for our clients if we emphasise our entrepreneurial and social competence.
Integrated, multidisciplinary, individual
In close coordination with our clients, we develop integrated and individual solutions. The economic and personal expectations and necessities of our clients set the basis for our service approach.
Pre-emptive problem solutions
The fast moving market and competitive environment as well as the continuously changing legal parameters set the requirement for an open and direct dialog between clients and consultants. Based on our experience and by applying our expert knowledge and methodic expertise we identify and develop pre-emptive solutions.

Our service approach both represents the conceptual development as well as the application of the concepts and processes.

Within multidisciplinary teams we develop solutions and approaches to problems, which we actively apply and monitor their success jointly with our clients.
Flexibility
It is our core concept, that project and client responsibility is allocated to one partner. Due to this principle our information and decision processes are straight-forward and efficient, ensuring fast and reliable decisions: It is our proven success factor that in critical circumstances a quick decision and communication is ensured.
Client oriented
Our clients are small and medium-sized, internationally oriented companies from various branches and industries as well as large asset managements.