February 5, 2010 (Newswire.com) - Scandinavia's largest company formation agent, PANLEGIS Group, is entering the German market. PANLEGIS, well known for its creative marketing campaigns, has over the last few years grown into the largest formation agent in Norway and Sweden. Now the company is planning to add Germany to it's list of conquests, adding German branches of UK companies and German KG companies to their range of formation products.
Claes Zangenberg, executive chairman of PANLEGIS and author of several best selling legal handbooks such as UK BUSINESS BANKING, says entering into the German market is a natural step for PANLEGIS. 'Many products are technically similar to the products we are offering in Scandinavia, and obviously the German market has a huge potential for further development', Zangenberg said in a statement. Both Ltd co KG and German branches of UK ltd companies have become increasingly popular in Germany over the last few years. German company law is traditionally conservative and long-winded, and many entrepreneurs and businesses have seized the opportunity to form foreign company structures to simplify operations and reduce costs.
With 40,000 such companies in Germany already, traditional German company types, such as GmbH and sole proprieties are looking increasingly old fashioned. German authorities have tried to make national company types more attractive by the introduction of a GmbH-light, requiring less share capital, but the growth of foreign company structures has continued. The increase in cross border company formations seems to be a trend that will continue, both in Germany and the rest of Europe - helped by modern legal businesses like PANLEGIS.