In recent years, so-called “consultancy firms” operating without legal qualifications have become increasingly common, promising inexpensive and hassle-free company formation services in Germany. Their services typically consist of providing registered office facilities and/or interpreting services to their clients.
Although this may sound like self-promotion, we would caution anyone considering such services. Establishing a company is not like buying a pair of socks, where if the size fits, everything fits. Company formation requires a tailored approach, and such customization requires a qualified professional who, by virtue of their expertise and experience, can assess the legal, tax and commercial aspects of a proposed business activity and recommend the most suitable structure for the client.
Our experience to date suggests that the assembly-line approach often adopted by these “consultancy firms” does not meet this standard. Moreover, the saying “you get what you pay for” does not even apply here, because such providers are by no means inexpensive and are often not significantly cheaper than properly qualified German lawyers, particularly those who are able to communicate with their Hungarian clients at a native level.
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