Digitizing the “undigitizable”. German notary offices are known for their immutable processes and principles. Founders or their corresponding representatives are still required to make a personal appearance to their notary of choice to found a new company. Identities have to be checked manually, prior to the deed being read to and signed by all parties present. But that is about to change.
Founding and register applications online possible from 1 August 2022
Digital revolution, here we come, as in the not-so-distant future, this personal visit will become redundant (at least in some cases). From 1 August 2022, technology will take over and transfer the act of founding into the digital space. A video conferencing system, developed by the Federal Chamber of Notaries (Bundesnotarkammer) will be introduced to allow for identities to be verified and the act of founding and register applications to be completed online. Electronic signatures will then be sufficient for the signing of the deeds.
Though not for everything
Changes to processes in notary offices have been long overdue. They now help founders to reduce (travel) costs, while saving them valuable time they desperately need to build their company. Founders should not become overly enthusiastic, though, as for the time being, this digital process will only be made available for the founding of GmbHs (limited liability companies) and register applications (further information at https://www.onlineverfahren.notar.de/). It is an important step towards the digital transformation of the German notary.
Digitization to continue
It is a kick-start, promising for more changes to come. One of those might be the transference of the validity register for notarial powers of attorney and inheritance certificates onto the blockchain (further information at https://www.bnotk.de/aktuelles/details/innovationspreis-fuer-erste-blockchain-kooperation-in-der-justiz) or the digital archive for notarial documents (starting 1 July 2022).
We at YPOG have not only been supporting but driving the digitization of legal processes and are looking forward to many more to come.
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About us
YPOG stands for You + Partners of Gamechangers. As a leading law and tax firm, YPOG supports founders, investors, companies and funds in Germany and internationally in bringing visionary ideas to life in the tech ecosystem and dynamic future markets.
YPOG advises on the structuring of venture capital and private equity funds, financing rounds and complex transactions, as well as on regulatory and tax matters relating to digital assets and financial innovation. As a strategic partner, YPOG develops practical solutions of the highest legal standard.
The firm combines legal and tax expertise with legal tech, digital workflows and AI-based systems to provide efficient and scalable advice.
YPOG and its professionals are regularly recognised by JUVE, Chambers and Partners, The Legal 500, Best Lawyers and Leaders League. More than 380 lawyers, tax advisers, tax specialists, one notary and business professionals work for YPOG across its offices in Berlin, Cologne, Hamburg and Munich.
Further information: www.ypog.law/en/ and www.linkedin.com/company/ypog
