German Businesses Register in UK to Cut Costs | Business| Economy and finance news from a German perspective | DW | 09.08.2004
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German Businesses Register in UK to Cut Costs

German entrepreneurs are increasingly registering their companies in Britain rather than at home to minimize business start-up costs, mass-circulation daily Bild reported. "At home you need €25,000 ($30,679) as a capital contribution to found a company with limited liability," the paper quoted Lutz Dombrowski, a carpenter, as saying. Dombrowski reportedly registered his new Berlin firm in England for a fee of €3 -- a move that's been possible since 2003, according to the paper, which added that about 1,200 companies have done so.