Was kostet eine Vorverkaufsanalyse?

Die Vorverkaufsanalyse von Veracity Capital Investments kostet 2.500 EUR zzgl. USt. Enthalten sind Datenraum, vollständige Analyse, indikative Wertindikation, steuerliche Einordnung und ein persönliches Ergebnisgespräch mit S. Albrecht-Mahmood (LL.M.).

Wie lange dauert die Vorverkaufsanalyse?

Nach vollständiger Bereitstellung der Unterlagen liegt das Ergebnis in der Regel innerhalb von 10 bis 14 Werktagen vor.

Ist die Vorverkaufsanalyse vertraulich?

Ja. Alle Unterlagen werden über einen verschlüsselten Datenraum übertragen, DSGVO-konform verarbeitet und ausschließlich vom Berater eingesehen. Auf Wunsch wird vorab eine NDA unterzeichnet.

Lohnt sich eine Holding-Struktur vor dem Verkauf?

Bei einem Share Deal über eine Holding werden Veräußerungsgewinne nach § 8b KStG zu ca. 95% steuerbefreit – die effektive Steuerlast liegt bei rund 1,5% statt bis zu 28% im Direktverkauf. Die Struktur sollte frühzeitig aufgesetzt werden.

Was ist eine Familienstiftung als Gestaltungsmodell?

Eine Familienstiftung ist ein Gestaltungsmodell für Unternehmer, die Vermögen langfristig an ihre Kinder übertragen und gleichzeitig steuerlich optimieren möchten. Wir arbeiten Hand in Hand mit einem spezialisierten Gestaltungsberater.

Selling a Company in Germany: The Complete Owner's Guide

Whether you are a German owner planning succession or an international group divesting a German subsidiary, the mechanics are the same: valuation, preparation, buyer selection, due diligence, notarised transfer. This guide explains each step as it actually works under German law and market practice.

Step 1 — Understand what the company is really worth

German Mittelstand valuations are driven by sustainable, adjusted EBIT or EBITDA multiplied by a sector multiple, cross-checked with a discounted cash flow. Adjustments matter more than the multiple: owner compensation, non-operating property, private cars, one-off legal costs and non-market-rate rents all change the base figure.

Before any buyer sees a number, we run a pre-sale analysis: an indicative valuation range, the value drivers and value killers, and — crucially — the net proceeds after German tax under different structures.

Step 2 — Choose the transaction structure

A share deal transfers the GmbH shares themselves and requires notarisation before a German notary. An asset deal transfers selected assets and contracts and can leave liabilities behind, but usually triggers a higher tax burden for the seller and requires counterparty consents.

For German individual sellers, holding an operating GmbH beneath a holding GmbH can reduce the effective tax on a share sale substantially (approximately 1.5% effective corporate-level taxation on the gain, versus roughly 25–30% in a direct private sale). A family foundation (Familienstiftung) can be the right answer where the goal is intergenerational transfer rather than a cash exit. Both structures need lead time — they are not retrofittable once a letter of intent is signed.

Share deal: notarised, clean for the seller, buyer inherits liabilities

Asset deal: selective, buyer-friendly, higher seller tax and consent risk

Holding structure: powerful tax lever for German sellers, requires early set-up

Family foundation: succession within the family without fragmenting ownership

Step 3 — Run a controlled, confidential process

Confidentiality is the single biggest risk in a Mittelstand sale. Employees, customers and competitors must not learn about the process prematurely. We approach a curated shortlist of strategic and financial buyers with an anonymised teaser; the information memorandum and the data room open only after an NDA is signed.

A typical process runs 6 to 12 months from mandate to closing: preparation and documentation, buyer approach, indicative offers, management meetings, letter of intent with exclusivity, due diligence, SPA negotiation, notarisation, closing.

Step 4 — Negotiate the terms that actually decide the outcome

The headline price is rarely the decisive figure. Locked-box versus completion accounts, the definition of net debt and normalised working capital, earn-out mechanics, escrow amounts, warranty catalogues, W&I insurance and non-compete clauses can move the economic result by double-digit percentages.

We negotiate these terms with the seller's tax adviser and M&A lawyer in one team, so no clause is agreed commercially before its tax and legal consequences are understood.

How long does it take to sell a company in Germany?

From signed mandate to closing, 6 to 12 months is realistic for a Mittelstand transaction. Preparation quality is the main lever: well-documented figures shorten due diligence significantly.

What taxes apply when selling a German GmbH?

A private individual selling GmbH shares is generally taxed under the partial-income procedure (Teileinkünfteverfahren) at roughly 25–30% effective. If the shares are held by a holding GmbH, roughly 95% of the gain is tax-exempt at corporate level, resulting in about 1.5% effective taxation until distribution. Individual advice from a tax adviser is required.

Does a German share sale need a notary?

Yes. The transfer of GmbH shares must be notarised before a German notary. Foreign sellers can act through a notarised power of attorney.