when a newly formed gmbh applies to germany s company register for registration of the firm s incorporation it must also appoint its first director and include a list of its shareholders a supervisory board is required if the company has more than 500 employees otherwise the company is run only by the managing directors who have the unrestricted proxy for the company 4
there is no central corporate registry in germany instead a company is registered in a local court where the company s registered office is located or where the gmbh has its legal seat in 2008 a mini gmbh called unternehmergesellschaft ug was introduced to assist and encourage entrepreneurs with only a limited amount of capital the minimum capital requirement for unternehmergesellschaft is 1 euro 1 5 each year a ug is required to put aside at least 25 of its yearly net profit until its reserve capital reaches the statutory minimum of 25 000 at which point it may change its legal form to gmbh other versions of gmbhbesides the lower capital mini gmbh germany also allows for a gmbh co kg kommanditgesellschaft or limited partner designation and a ggmbh 