How much does it cost to set up a UG?

• Expected processing time for an electronic application

  First permit 14 days / extended permit 1-2 months

• Electronic application fee

  First permit 350 € / extended permit 160 €

• Paper application fee

  First permit 480 € / extended permit 430 €

Starting point: Business value

To simplify matters, we assume in this article that the Stammkapital (share capital) is less than €7,000 and that the company is founded with only one managing director, as the notary fees remain constant up to this limit. After that, it becomes somewhat more expensive for founders. The UG is still a GmbH, which means some notary fees are pro-rata – using the minimum business value of a “large” GmbH (€30,000) regardless of the actual Stammkapital.

Never calculate formation fees to the cent, because small adjustments or changes from the normal procedure can change the fee structure. Each notary can claim additional costs individually. Therefore, always plan a buffer.

Other fees – including the Handelsregister (commercial register) application – are again subject to different rates. Ask your notary about the exact fee regulations and limits.

Bear in mind that you can’t pre-calculate formation fees to the cent. Small adjustments from the standardised protocol can instantly change the fee structure. On top of this, each notary can claim additional costs on an individual basis. Therefore, you should always include a buffer in your budget estimations.

Guide to starting a business

Formation with customised articles of association

	One-person UG	Multi-shareholder UG
Share capital	up to approx. €7,000	up to approx. €7,000
Formation cost
Notarisation of thearticles of association & appointment of managing directorShare capital	€375.00	€384.000
Fee for creating the list of shareholders	€375.00	€384.000
Commercial register application
Draft application to the commercial register	€375.00	€384.000
Support activities	€375.00	€384.000
Creation of XML structure files	€375.00	€384.000

Sources: IHK Berlin

*All prices are average costs and, therefore, may differ in individual cases. The costs are an average of fees set out in the Court and Notary Costs Act (GNotKG) and notary invoices from all over Germany. In the example, the UG has only one managing director and the share capital is less than €7,000. Beyond this amount, the fees generally increase by approx. €60 net. Additional managing directors or a greater object value (ie, share capital) also affect the multipliers and flat rates used to calculate the fees.

¹ Average sum of both flat rates from the notarisation of the formation documents and entry into the Handelsregister (commercial register)

² Average value charged per page

³ Average value. Each municipality sets the fee for Gewerbeanmeldung (trade registration) independently

What does the notary charge?

The notary drafts the Handelsregisteranmeldung (commercial register application) and certifies the signature of the managing director. It’s not a good idea to DIY the Handelsregisteranmeldung. Although not forbidden, it’ll turn out to be more expensive. Since incorrect applications mean additional work for the Registergericht (registry court), notarially prepared Handelsregisteranmeldung are cheaper according to the statutory fee schedule. Forming a company using the Musterprotokoll (model protocol) reduces the fee by €30.

The Registergericht (registration court) charges a flat fee for entry into the Handelsregister set by the Handelsregistergebührenordnung – the official schedule of fees.

Costs for printouts, copies, postage, etc., are standard fare on a notary invoice. These expenses are charged either per item or at a flat rate. For a multi-shareholder company, the postal and telecommunication services flat rate is €20. For one shareholder, the flat rate is €12. Since notarisation and the Handelsregister application are considered two separate procedures, the flat rate is doubled to €40 and €24, respectively.

If your notary is willing to waive the flat-rate fee, you can save money here because incorporation doesn’t require the notary’s office to do many printouts (priced approx. €0.15 per page plus stamps). However, don’t be surprised if your notary is not willing to make such concessions. A flat-rate postage fee of €9 is payable for entry into the Handelsregister (commercial register).

Good news: The costs for the publishing of the Handelsregister entry are only €1 per entry as it’s now only published in the electronic Bundesanzeiger Federal Gazette.

You can prepare some documents yourself and even submit them without notarisation. But, if you try to save on notary fees here, you usually end up paying more. Very few founders can draw up error-free articles of association etc.

If your documents don’t meet the requirements of the Registergericht (register court), there will be no entry into the Handelsregister (commercial register). Then you’ll have to get a legal professional – most likely a notary – to correct everything, which can delay the company formation indefinitely. Save yourself a lot of stress and leave the drafting of the founding documents to the professionals.

Frequently asked questions

How much does a business account cost?

Every company is different and the requirements for a business account depend heavily on the number of employees and the transaction volume. Therefore, the question of costs is not so easy to answer. The good news: as soon as you have an overview of your requirements for a business account, the most important step has already been taken.

A detailed comparison of the providers is worthwhile. Entrepreneurs who want to set up a business account with the bank should keep an eye on the details. The following variable costs may be incurred, among others:

 

☑️ Annual or monthly basic fee for the account

☑️ Costs for an EC or credit card

☑️ Costs for individual paperwork or paperless bookings ( transfer , standing order, direct debit)

☑️ Fees for cash withdrawals from ATMs

☑️ For a digital account: any costs for accounting functions

☑️ Fees for international transfers

 

💡 It is best to write down your most important requirements in advance so that you can better estimate the costs.

Account management costs

The following applies here: The total costs of a business account are made up of fixed and variable costs. The monthly account management fee, if incurred, is part of the fixed costs .

Price differences do not only exist between traditional banks and fintechs. A bank or a fintech often offers different models of accounts , which in turn are associated with different fees for account management.

Depending on the size and needs of your company, Qonto offers different subscription types for a business account. See the different plans in detail here. You can test the Qonto business account for 30 days free of charge - no matter which plan you choose.

Is a subscription worth it?

In addition to a business account that is initially free , there are usually individual services that are subject to a fee. That can quickly become expensive.

On the other hand, flat-rate packages or subscriptions – such as those offered by Qonto – provide much more security on the cost side. They are based on the size of the company and the usual payment transactions or the average transactions and offer appropriate services at a flat rate at a fair, fixed and easily calculable price.

second

second description

third

third description

fourth

fourth description