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Comment by paleotrope | Hacker News Reader

Do you want to take the risk of losing your home just to start a business?

Personal insolvency sucks, but you won't actually loose your home here in Germany.

> Personal insolvency sucks, but you won't actually loose your home here in Germany

Germany insolvency can take a decade, make getting a flat or even keeping your bank account a challenge and rarely results in debt relief to boot [1].

[1] http://www.privatinsolvenz-hilfe.org/en/german-bankruptcy-la...

You couldn't have found a shadier source pushing FUD, if you tried to.

Which does not change the fact that the process takes a decade.

Maybe the real difference is that such things might be possible in the US, but sound laughable in Europe?

What would you need to mess up to be liable for huge sums as a single consultant company?

There’s tax benefits and other business-only products that require a business entity.

Imagine if you’re a consultant and for whatever reason, you get sued or worse. That’s what the LLC is for.

It’s unlikely you’ll lose it all, but suppose you write a clever app — maybe a cvs editor.

Suppose you find out your cvs editor infringes on a patent and you’re liable. Suppose some business suffers data loss and sues. These things do happen in Europe too.

Also, it’s just a matter of professionalism. A sole proprietor isn’t very professional and many medium-size businesses won’t do business with sole proprietorships.

You can probably get insurance for that.

The UK is in Europe and it is easy to found an LLC. In the UK for example, there is no capital requirement at all. That's a lot les than 25k€.

_Was_ in Europe.

What continent did they move to instead?

Europe is a continent. They're not in the EU. If being in the EU is a requirement to be in Europe: that means Switzerland is not in Europe?

Fair enough - I meant to say: for business reasons, a UK LLC won’t do you much good in terms of hassle free company setup inside the European Union.

The discussions is not about setting up an LLC in the EU, but specifically in Germany. Subsequent to that we are comparing this with other developed countries in the world, not all of which are in the EU, which is fine, and does not undermine the comparison.

Where did they move to? I heard something about them leaving the EU, but Europe?

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