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May 16, 2024

Good Corporate Housekeeping

It's time for “Corporate Housekeeping”!

Good Corporate Housekeeping

The annual general meeting (AGM) of a Ltd. (AG) or an LLC (GmbH) must be held every year within six months of the end of the financial year, i.e. usually by June 30 at the latest. Among others, the annual general meeting must approve the annual report, the proposed allocation of the balance sheet profit or loss, and grant discharge to the members of the Board of Directors and of the management, as well as re-elect and/or elect new members of the Board of Directors.

Resolutions regarding amendments to the articles of association, relocation of the registered office, change of purpose or change of company name require public notarization. In such cases, the manner in which the AGM is to be conducted should be discussed with the lawyer or notary public before the meeting is convened.

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Team Corporate & Private Clients