Frankfurt is the financial center of Germany. Stuttgart has many auto manufacturers, such as Mercedes, Porsche and Maybach. Munich has the strongest economy of any German city and the lowest unemployment rate. It is the economic center of southern Germany. It is also a financial center (behind Frankfurt). Nuremberg is an important industrial center with a strong standing in the markets of Central and Eastern Europe. The economy of Cologne is primarily based on insurance and media industries.

Foundation of a company

To set up a business in Germany a residence permit is necessary. The residence permit needs to explicitly state that self-employment is allowed. Otherwise a special request has to be made. Non-EU-citizens receive this, if there is an exceptional economic or a special regional interest in their stay in Germany.

In order to get a residence permit Non-EU-citizens have to apply to the corresponding visa in the German embassy in their country. When setting up a business you must register the project with the trade office of the municipality in which the firm is opened.

The Berufsgenossenschaft (BG) is the statutory accident insurance fund for staff members and also – depending on the sector – for the self-employed. If you employ staff, you must insure them at the relevant BG.

All companies must be entered in the electronic commercial register at the local court. The electronic commercial register is public and provides information about the company (name of company, name of owner, personally liable shareholder, etc.)

When the company is registered it officially is founded.