Introductory Editorial: Renovating the German Private Limited Company - Special Issue on the Reform of the GmbH
2008; Cambridge University Press; Volume: 9; Issue: 9 Linguagem: Inglês
10.1017/s2071832200000316
ISSN2071-8322
Autores Tópico(s)Corporate Finance and Governance
ResumoOn 28 June 2008, the German Bundestag (Federal Parliament) passed a bill on the reform of German corporate law. Known as the Gesetz zur Modernisierung des GmbH-Rechts und zur Bekämpfung von Missbräuchen (MoMiG – Law for the Modernization of the GmbH and to Stop its Misuse) the bill is a milestone, the single most important reform of the most commonly used German corporate form. The reform will bring about major changes. Among other things the reform will make it possible to establish a GmbH with a share capital of nothing more than € 1 EURO (previously, € 25,000 had been required) and to establish a GmbH that has no active business in Germany but solely operates abroad. Although the bill still has to be approved by the Bundesrat (Federal Council of the States), which will probably vote on this matter on 19 September, experts have little doubt that the reform easily will pass this last hurdle and enter into force as soon as 1 November.
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