The demand for medical supplies is constantly increasing. Opening a biomedical company in Germany can be a very profitable decision. The medical technology industry is one of the largest and fastest growing sectors of the German economy, attracting foreign investors.
The majority of the biomedical companies in Germany are a recent addition to the market. Compared to the pharmaceutical companies in Germany, the biomedical ones tend to be small, with an average of 50 employees. Since most of them are founded by large pharmaceutical companies, biomedical companies in Germany are regarded as externalized units. If this is your choice of investment, our company formation specialists in Germany can help you set up a biomedical company.
The German government encourages foreign and local investors to establish of all types of companies. The Company Act is the legal framework for company formation in Germany. Investors who want to open a biomedical company in Germany have to follow a few steps. Depending on the available capital and the number of shareholders involved, they have to choose the type of business which best suits their interests. The limited liability companies (GmbH) are the most popular business structures in Germany. Next, they have to register the biomedical company with the German Companies Register and with the tax authorities. Certain restrictions apply to entrepreneurial activity and the regulation of relevant technologies in the biomedical field. Our company incorporation agents in Germany can provide you with detailed information on the matter.
The biomedical field in Germany is regulated by local and EU directives, standards and safety regulations. Opening a biomedical company in Germany implies complex requirements, based on consumer health, environmental and safety concerns. The German Medical Devices Act applies to all equipment, instruments, devices and materials used in or on the human body. All biomedical devices that try to enter the German healthcare sector need approval within the standards of this legislation. Devices that achieve their intended effect pharmacologically are exempt from these regulations.
Considering the complexity of the legislation related to biomedical companies, we invite you to contact our German consultants for professional assistance.