Establishing a business in a foreign country involves certain expenses. Appropriate budget planning, particularly regarding start-up costs, requires knowing about the likely expenses beforehand. The following overview lists the most important factors to be considered.
How much capital will you need to set up the company? The answer is in your choice of legal form – general partnership (OHG), limited partnership (KG), or limited liability company (GmbH). In most cases, a limited liability company (GmbH) is the most advantageous legal form for foreign nationals establishing a business. Additional costs are the statutory fees for a lawyer, tax advisor, notary public and registration in the commercial register.
The customary way to find suitable personnel is to employ the services of the local Labour Agency, head-hunters or management consultants, or to place job vacancy ads in regional or national papers. Hiring one or more German employees can only improve your chances of being successful in the German market. Apart from language and cultural aspects, these employees can also play an important intermediary role between the foreign company and German customers or suppliers. Wages or salaries are usually paid on a monthly basis; the amount depends on the employees’ level of qualification. We can help you find suitable personnel by providing advice, recommendations and the necessary contacts. The average annual salary of an industrial employee in Germany will amount to approx. € 25-30,000.
We will be happy to assist you in looking for suitably qualified personnel and can inform you about wage/salary levels, insurance, job contracts and other important details.
The cost of office space in Hamburg greatly depends on location and fittings. The current average monthly rent is € 15,40 per square metre, with peak rents at € 26,50/ sqm. Add to that the charges for heating, electricity, telecommunications, etc. In Germany, offices to let are usually renovated, but unfurnished. The necessary investment in office equipment, fittings and furniture, and the cost of renovation after leaving the premises, are an additional cost factor. Companies that want to limit their initial investment for starting up business operations in Germany may well feel that premises in a coworking space are an attractive alternative. Not only do such centres offer furnished office suites, but they can also provide clerical services, conference rooms and office equipment (computers, printers, telephones, fax, etc.). Another advantage of leasing space in a coworking space is that the terms of such an agreement are more flexible, and contracts can be terminated on short notice. The monthly rent for these facilities ranges from € 60 to € 500 per workplace.
We offer a whole host of specialized services to help you search efficiently for suitable sites or office space. This service is provided free of charge and without obligation on your part.