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Huntsville Alabama USA
Posts: 2 since Jun 2021
Thanks Given: 0
Thanks Received: 3
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My apologies for asking this question in English. My German language skills are not as precise as with English.
I am a US citizen, futures trader and software engineer interested in creating and operating a German GmbH startup company so that I may obtain German residency as a startup founder. I have two business interests: providing artificial intelligence (AI) based software engineering services and operating my trading strategies in Germany. I don't have any immediate need to advertise trading or investment management services to clients nor trade client capital. I only wish to trade personal funds, further develop my strategies, AI algorithms and software frameworks and seek additional partners / investors to help me grow the GmbH.
If my trading strategies take longer to succeed the GmbH can simply pause or delay trading operation and rely on providing software engineering services for income. If my trading strategies succeed as they have in the past I will seek whatever operating capital I need to expand my trading operation, manage client funds and generate fees.
The legal advice I've received so far is that the local IHK (Industrie- und Handelskammer) offices in Germany are more likely to approve narrowly defined business plans, for example strictly providing AI software engineering services to clients. I've been informed that it is not advisable to combine software engineering services and trading strategy operation in the same GmbH business plan, that I need to choose either the software engineering services business plan or the trading business plan to do first. Its also less costly to operate only one GmbH as I am required to provide a minimum of EUR 25,000 capital plus legal fees to establish each GmbH.
And I also may be required to comply with BaFin if my GmbH business plan involves trading strategies.
Has anyone here gone through the process of creating a trading-focused GmbH startup company? Was it difficult to get approved by IHK or costly to comply with BaFin regulations or were you able to successfully obtain certain exemptions, say by trading only personal capital and avoiding advertising to clients?
Thank you!
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