GmbH and UG in Formation

For which companies in formation does Penta offer a business account?

Penta offers you as a company founder the possibility to open a business account with us already during the formation of your company. Therefore your co...

What are the requirements to open an account with Penta for a GmbH or UG in formation?

The registered office of the GmbH or UG in formation has to be located in Germany You must have a notarized and signed memorandum of association (Musterpr...

To which account do I need to deposit my share capital?

If you open an account with us as a GmbH or UG (haftungsbeschränkt) in formation, the entire formation process must be done through your Penta Business Acco...

What do I have to do within the transition from “in formatio” (in Gründung) to GmbH or UG?

When you open a Penta account for GmbH or UG in formation, you have 10 weeks to send us your certificate of registration. If we do not receive an excerp...

What is an UG (haftungsbeschränkt) ?

An Unternehmergesellschaft, with the abbreviation UG, is a special form of the GmbH, which was introduced in Germany in 2008.  Both legal forms are cons...

For whom is an UG suitable?

The UG (haftungsbeschränkt) is suitable for you as a founder, if the liability is to be limited, but your company initially gets by with little capital. Thi...

Does an UG need a share capital and what should be considered?

Yes. The share capital at the start of the UG must be at least 1.00 EUR. Please Note: The amount of capital of your company should always be based ...

How is liability regulated in an UG?

You as a partner are usually not liable with your private assets, but there are exceptions: in the case of the so-called "Durchgriffshaftung"...

Which accounting obligations does an UG have?

The same provisions of the German Commercial Code (HGB) apply to accounting as to the GmbH. The UG is obliged to the legal double-entry bookkeeping with an ...

What taxes must an UG pay?

An UG must pay trade tax, corporate income tax and solidarity surcharge. If profits are distributed to the shareholders, capital gains tax is due for them. ...