Pretty simple stuff. I just want a €uro account for my UK Ltd company. Sparkasse is saying they "think" they "might" need a full translation of the Company Articles of Association.
I "think" they "might" be being a pain in the backside.
Anyone had this issue or problem?
This is the same bank that said I HAD to have a Gbr bank account in my personal name. A stroppy letter to head office sorted that one out.
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Setting up a UK Ltd € bank account in Germany
Tips on how to do this
try using a bank more familiar with international business operations Shitsparkassen tend to be a bit yokal imo.
does it really matter what name the account is in? Can't you just open it in your name?
yes it does, no, he can't.
Ho hum. Methinks you are correct. Just fancy the convenience of banking in the same place etc. Better the devil you know.
They are for some crazy reason just completing the build of a super-duper-shiney new branch in my craphole part of the world. I think I may need to politely tell them to do some super-duper-shiney "get your ***** shit together" as well.
Translating articles written in legal waffle could cost hundreds of €uros. Plan B is I get my german accountant to write them a sarcastic letter - usually works.
They are for some crazy reason just completing the build of a super-duper-shiney new branch in my craphole part of the world. I think I may need to politely tell them to do some super-duper-shiney "get your ***** shit together" as well.
Translating articles written in legal waffle could cost hundreds of €uros. Plan B is I get my german accountant to write them a sarcastic letter - usually works.
QUOTE (Owain Glyndwr @ Aug 1 2006, 5:20 pm) 
yes it does, no, he can't.
is that because it's a limited company? Would it be different for a sole-trader/Gbr style thingy?
yes and yes.
Ltd Company - bank account MUST be in the name of the company such as XYZ (UK) Limited. But you can usually get your bank to agree to honour cheques in a few names if close enough. e.g. XYZ limited when you are really XYZ (UK) Limited. Also possibly if you have a "Trading as" name they might honour cheques in that name as well.
Gbr - you can have in YOUR name or a TRADING name. I use a TRADING name. German banks don't like that 'cos traditionally over here if you were "Wolfgang Kraut the Plumber" they would only allow you to legally trade as "Wolfgang Kraut". But that has all changed so you can use a trading name (but expect the bank to be huffy if you live in the bleeding sticks like me).
Gbr - you can have in YOUR name or a TRADING name. I use a TRADING name. German banks don't like that 'cos traditionally over here if you were "Wolfgang Kraut the Plumber" they would only allow you to legally trade as "Wolfgang Kraut". But that has all changed so you can use a trading name (but expect the bank to be huffy if you live in the bleeding sticks like me).
Change your M&A to a nice simple set of general M&A and get 'em translated and then certified by a UK notary. Nice and simple, and they might come in handy later on if things go well.
Ahhhhhhhhhhhhh. Great tip Jimbo. For VAT purposes I am also gonna need to register here, and that was possibly gonna hit the same issue.
So as I am 100% shareholder I can amuse myself by producing the "World's Shortest Articles of Association".
Can we get it down below 10 words do you think?
That appeals to my sense of humour when I deal with the red tape. Get it goldbound, thick paper, red tape etc and 10 words long.
So as I am 100% shareholder I can amuse myself by producing the "World's Shortest Articles of Association".
Can we get it down below 10 words do you think?
That appeals to my sense of humour when I deal with the red tape. Get it goldbound, thick paper, red tape etc and 10 words long.
Certainly 10 sentences is doable. What do you have at the moment?
Citibank has Euro denominated accounts in the UK. They have a branch in Augsburg too. So maybe you can open your Euro account in the UK and then move it here?
I got my translations of the Memorandum and Articles of Assocation done. Only cost €230 which I think was very fair. But get this...
I need to get the UK Company registered 3 times over here:
XYZ Ltd German branch must be registered at the Amtsgericht Handelsregister. For this procedure you need the notary plus documentation.
XYZ Ltd German branch as subject of VAT and Corporation Tax must be registered at the Finanzamt.
XYZ Ltd German branch as subject of local Trade 'Tax must be registered by the local authority of that town, where the office is of the director who manages the business of the branch.
Then and only then they might let me have a bank account. Silly country.
I need to get the UK Company registered 3 times over here:
XYZ Ltd German branch must be registered at the Amtsgericht Handelsregister. For this procedure you need the notary plus documentation.
XYZ Ltd German branch as subject of VAT and Corporation Tax must be registered at the Finanzamt.
XYZ Ltd German branch as subject of local Trade 'Tax must be registered by the local authority of that town, where the office is of the director who manages the business of the branch.
Then and only then they might let me have a bank account. Silly country.
QUOTE (Johnny English @ Aug 1 2006, 5:05 pm)
Pretty simple stuff. I just want a €uro account for my UK Ltd company. Sparkasse is saying they "think" they "might" need a full translation of the Company Articles of Association.
I "think" they "might" be being a pain in the backside.
Anyone had this issue or problem?
This is the same bank that said I HAD to have a Gbr bank account in my personal name. A stroppy letter to head office sorted that one out.
I "think" they "might" be being a pain in the backside.
Anyone had this issue or problem?
This is the same bank that said I HAD to have a Gbr bank account in my personal name. A stroppy letter to head office sorted that one out.
we had this exact same problem trying to open a business account in Hypovereinsbank. in the end the sheer volume of staff they were requiring us to translate meant we abandonmed the attempt to get a business account and I run the office out of my personal account. Not ideal, but we needed some way to pay the office bills and slaries of staff.
all said and done ... if you guys were starting afresh (like me, as a sole trader I think) ... would you use a ltd or a German company?
Even the Germans seem to be pushing ltd's now see- www.go-limited.de
Even the Germans seem to be pushing ltd's now see- www.go-limited.de
QUOTE (Johnny English @ Sep 25 2006, 11:27 am)
XYZ Ltd German branch must be registered at the Amtsgericht Handelsregister. For this procedure you need the notary plus documentation.
XYZ Ltd German branch as subject of VAT and Corporation Tax must be registered at the Finanzamt.
XYZ Ltd German branch as subject of local Trade 'Tax must be registered by the local authority of that town, where the office is of the director who manages the business of the branch.
Then and only then they might let me have a bank account. Silly country.
XYZ Ltd German branch as subject of VAT and Corporation Tax must be registered at the Finanzamt.
XYZ Ltd German branch as subject of local Trade 'Tax must be registered by the local authority of that town, where the office is of the director who manages the business of the branch.
Then and only then they might let me have a bank account. Silly country.
So that would be the same as registering with Companies House, the Inland Revenue and the local authority for business rates where applicable then?
So bureaucracy yes, but errrrm, same as UK.
You wanna calm down getting wound up about Germany mate or your ticker will pack in.
QUOTE (Owain Glyndwr @ Aug 1 2006, 5:20 pm)
yes it does, no, he can't.
Thats the kind of answer I love...makes me remember the army! K.I.S.S.
K.I.S.S.
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