Welcome to the Doing Business in Germany guide, supplied by PwC and sponsored worldwide by HSBC. The PwC Doing Business guides are designed to provide general information for anyone interested in doing business in Germany, along with specific information on taxation; auditing and accounting; and human resources and employment law. In addition it has information on trade and banking. It’s part of a series of guides to 21 countries produced by PwC for HSBC.
Germany is justly celebrated for six decades of political stability, industrial innovation and for being one of the world’s export titans. The depth of expertise among its highly educated workforce makes it a natural location for advanced engineering, manufacturing and green technology. It is unsurprising, therefore, that it stands fifth in the world in terms of attracting foreign investment. And yet, despite the advanced nature of the economy Germany’s cost of living is below the global average and that of many of its fellow members of the European Union.
In the attached PDF file you’ll learn about German trade and regulatory environments; local business etiquette; various strategies for setting up a business; the range of commercial and personal income taxes you will be obliged to pay; and the nature of the German tax code. You’ll learn that your German customers will prefer contracts based on German law and the presence of local contacts and addresses. There’s valuable information on auditing and incentives available to foreign businesses. You will also learn about working hours, negotiating salaries and employment standards pertaining to sick leave and holidays.
Germany is the United States’ largest European trading partner and is the sixth largest market for U.S. exports. Opportunities for U.S. companies in Germany include innovations in computers, computer software, electronic components, health care and medical devices, synthetic materials and automotive technology. Certain agricultural products also represent export prospects for U.S. producers.