Writing a Business Plan

A vital part of founding a company in Germany is drafting a detailed business plan. It is also a requirement to obtain a Residence Visa according to § 21 of the German Residence Act. Please keep reading to find out the necessary elements of the business plan and how our full-service law firm can assist you in putting your ideas onto paper.   

 

The most important key points that your business plan should provide are:   

The general business concept - what your company's product or service is

This should include the company name, its proposed location and if your company will run primarily online. It would be best if you enclosed what makes your company and your product or service different from others. Detailed information on the state of the product or service is also required, e.g., whether you already have patents and trademarks, whether it is fully developed or still in the research phase and if so if it has been tested and trialled yet. 

The company form

There is more than one company form. Our lawyers are happy to consult you about the different legal company forms.   

The private limited liability company (GmbH) is the most common company form. It limits liability, so private assets are not targeted if the company faces financial difficulties. The minimum investment amount is €25.000.  

Another company form is the entrepreneurial company (UG), which is similar to the GmbH; however, the minimum investment amount is only €1, which makes it especially interesting for Start-up companies.  

A stock corporation (AG) is another possible company form, although it is more expensive and complex than the others. It allows shares to be traded on the stock exchange and requires at least €50.000 of share capital.  

Market analysis data

It is necessary to provide data about how your business meets an economic interest or regional need, how it can positively impact the economy and how it competes with other competitors on the market. This requirement is an area where working with our business immigration lawyers will be of great benefit to you. Our lawyers have plenty of experience and inside knowledge on how a company can meet the economic interest or regional need. 

Information on finances 

Here is where you should lay out the financing of the business; how it is secured, estimated monthly costs and the total capital requirement. You should further state if the company is prepared to resolve early liquidity issues that may arise and give an estimation of what turnover is to be expected within the first years.  

The number of estimated employees 

It is also relevant to state how many people will be employed by the business. 

Your business' target audience 

Among the questions that need to be addressed in this section are who potential customers are, whether the market base is broad, or if the product or service is marketed to a few but more significant customers. Here, it also makes sense to outline marketing strategies, e.g. how you plan to announce the company to the market and what advertising channels will be used.  
Our services

Applying for a Residence Visa according to § 21 of the German Residence Act is a lengthy and bureaucratic process, as is ultimately founding the company. We are here every step of the way to make this experience as easy as possible for you. Our business immigration lawyers are at your service should you wish for more information on this topic.   

 

Contact us.

Don’t hesitate to use our contact form. Our lawyers are happy to help you figure out the best way to approach your business immigration process.