My understanding what is described is Limited Liability corporation hold inside Limited partnership. Not either of those alone. This setup allows some tax games. But also clearly is also much more complicated to setup as first you would need the limited partnership...
replyIt's probably only funny because the commenting germans are aware that there is a much simpler "UG" (without the &co KG), which is pretty much a LLC, which you can open on your own, a bit faster, much cheaper. But apparently OP didn't do that for tax reasons (in a normal UG, if you want to pay yourself, you gotta pay income tax and all the other stuff)
replyIf an american comes and says they founded a public company (with stocks and all), and complained about the fuzz involved, you would also tell them that it's their own fault, right?
That said, maybe the US/Delaware LLC has this component as well, I'm not a lawyer :D
UG is almost always a bad idea. Just go with the GmbH from the start. UGs need to convert to GmbHs over time anyway, it is just added bureaucracy. Your tax accountant alone will cost 3.500-5.000€ in the first year, so you need the money anyway. Starting a UG with 2.000€ in capital is stupid idea, you risk going bankrupt early on. Rembmer, delayed filing for insolvency (Insolvenzverschleppung) is a criminal ofense in Germany and you are risking that to.
replyLooks like he got hot milked by “advisors” who insisted in an overly complicated setup. Setting up a UG is fast and easy as long as you stick to the standard and you don’t need advisors or lawyers.
replyThis is what happens with complex organizations. People develop expertise in navigating the organization, feel pride in that expertise, and then snottily mock those who struggle. Even though they didn’t create it, don’t really like it, and have no stake in it.
replyBut it is all arbitrary bureaucracy with little value beyond its own internal logic. Still gets fanboys somehow.
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