Privacy Policy

Data protection has a particularly high priority for us. The use of the Fidaris website is possible without any indication of personal data. However, if a concerned person wants to use special services of our law firm via our website, processing of personal data could become necessary. If processing of personal data is necessary and if there is no legal basis for such processing, we will generally obtain the consent of the concerned person.

The processing of personal data, such as the name, address, e-mail address, or telephone number of a concerned person shall always be in line with the General Data Protection Regulation, and in accordance with the applicable country-specific data protection regulations. By means of this data protection declaration, we would like to inform the public about the type, scope and purpose of the personal data we collect, use and process. Furthermore, concerned persons are informed of their rights by means of this data protection declaration.

As the controller, the Fidaris GmbH Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft has implemented numerous technical and organisational measures to ensure the most complete protection of personal data processed through this website. Nevertheless, Internet-based data transmissions can always be subject to security vulnerabilities, so that absolute protection cannot be guaranteed. For this reason, every concerned person is free to transmit personal data to us by alternative means, for example by telephone.

1. Definitions

This data protection declaration is based on the terms used by the European Directive and Ordinance when adopting the General Data Protection Regulation (GDPR). Our data protection statement is intended to be easy to read and understand for the public as well as for our clients and business partners. To ensure this, we explain the terminology used in advance.

We use the following terms, among others, in this data protection declaration:

a) Personal data

Personal data is any information relating to an identified or identifiable natural person (hereinafter “concerned person”). An identifiable natural person is one who can be identified, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person.

b) Concerned person

Concerned person means any identified or identifiable natural person whose personal data are processed by the controller.

c) Processing

Processing means any operation or set of operations which is performed upon personal data, whether or not by automatic means, such as collection, recording, organisation, filing, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure or destruction.

d) Restriction of processing

Restriction of processing is the marking of stored personal data with the aim of limiting their future processing.

e) Profiling

Profiling shall mean any automated processing of personal data which consists in using such personal data to evaluate certain personal aspects relating to a natural person, in particular to analyse or predict aspects relating to that natural person’s performance at work, economic situation, health, personal preferences, interests, reliability, behaviour, location or change of location.

f) Pseudonymisation

Pseudonymisation is the processing of personal data in such a way that the personal data can no longer be attributed to a specific concerned person without the use of additional information, provided that such additional information is kept separately and is subject to technical and organisational measures to ensure that the personal data are not attributed to an identified or identifiable natural person.

g) Controller or data controller

The controller or person responsible for processing is the natural or legal person, public authority, agency or other body which alone or jointly with others determines the purposes and means of the processing of personal data. Where the purposes and means of such processing are determined by Union or Member State law, the controller or the specific criteria for its designation may be provided for under Union or Member State law.

h) Processor

Processor means a natural or legal person, public authority, agency or other body which processes personal data on behalf of the controller.

i) Recipient

Recipient means a natural or legal person, public authority, agency or other body to whom personal data are disclosed, whether or not a third party. However, public authorities that may receive personal data in the context of a specific investigative task under Union or Member State law shall not be considered as recipients.

j) Third party

Third party means a natural or legal person, public authority, agency or other body other than the concerned person, the controller, the processor and the persons authorised to process the personal data under the direct responsibility of the controller or the processor.

k) Consent

Consent is any freely given specific and informed indication of his or her wishes in the form of a statement or other unambiguous affirmative act by which the concerned person signifies his or her agreement to personal data relating to him or her being processed.

2. Name and address of the data controller

The controller within the meaning of the General Data Protection Regulation, other data protection laws applicable in the Member States of the European Union and other provisions of a data protection nature is.

Fidaris GmbH  .  Wirtschaftsprüfungsgesellschaft  .  Steuerberatungsgesellschaft
WP/StB Stephan Lindermann

Bahnstrasse 16, 40212 Duesseldorf, Germany
Phone +49 211 54590-000
info@fidaris.com
www.fidaris.com

3. Cookies

The Fidaris website uses cookies. Cookies are text files that are placed and stored on a computer system via an internet browser. Through the use of cookies, the Fidaris can provide the users of its website with more user-friendly services that would not be possible without the cookie setting.

Cookies are very small text files used by internet sites, which your browser stores on your computer and can send certain information to us or, if applicable, to a third party.

Transient cookies are automatically deleted when you close the browser. These include, in particular, session cookies. These store a so-called session ID, with which various requests from your browser can be assigned to the joint session. This enables your computer to be recognised when you return to our website. Session cookies are deleted when you log out or close the browser.

Persistent cookies are deleted automatically after a predefined period of time, which may differ depending on the cookie. Unlike transient cookies, deletion does not occur automatically when the browser is closed. However, you can also delete the cookies at any time in the security settings of your browser.

Cookies that are absolutely necessary to provide a service expressly requested by the user (“necessary cookies”) are processed by us within the scope of our legitimate interest in providing and operating the website on the basis of Art. 6 (1) sentence 1 lit. f GDPR. The necessary cookies will be displayed to you when you visit our website (under “necessary”).

In addition, further information is stored or accessed on your terminal device that is not absolutely necessary to provide a service expressly requested by the user. This information is only stored or accessed if you give your consent. Details on the type of information, the purpose of the processing, the storage period of the information as well as possible recipients of the data can be found in the further course of this data protection declaration.

You can revoke any consent you may have given to the processing of data using cookies at any time by reselecting the cookies you accept.

Renew or change your cookie consent

You can set your browser so that it does not accept cookies in general or so that only certain cookies are stored or not stored. You can find out more about this in the help system of your browser. If your browser rejects all cookies, it is possible that not all functions of this website can be used.

4. Collection of general data and information

The website of the Fidaris collects a series of general data and information each time a concerned person or automated system calls up the website. This general data and information is stored in the log files of the server. The following data may be collected: (1) the browser types and versions used, (2) the operating system used by the accessing system, (3) the website from which an accessing system accesses our website (so-called referrer), (4) the sub-websites which are accessed via an accessing system on our website, (5) the date and time of an access to the website, (6) an Internet protocol address (IP address), (7) the Internet service provider of the accessing system and (8) other similar data and information that serve to avert danger in the event of attacks on our information technology systems.

When using these general data and information, the Fidaris does not draw any conclusions about the concerned person. Rather, this information is needed (1) to deliver the contents of our website correctly, (2) to optimise the contents of our website as well as the advertising for these, (3) to ensure the long-term operability of our information technology systems and the technology of our website, and (4) to provide law enforcement authorities with the information necessary for prosecution in the event of a cyber attack. Therefore, the Fidaris analyzes anonymously collected data and information on one hand for statistical purposes, and on the other hand for the purpose of increasing the data protection and data security of our enterprise, so as to ensure an optimal level of protection for the personal data we process. The anonymous data of the server log files are stored separately from any personal data provided by a concerned person.

5. Routine deleting and blocking of personal data

The controller shall process and store personal data of the data subject only for the period of time necessary to achieve the purpose of the storage or where provided for by the European Directive and Regulation or other legislator in laws or regulations to which the controller is subject. If the storage purpose ceases to apply or if a storage period prescribed by the European Directive and Regulation Maker or another competent legislator expires, the personal data will be routinely blocked or deleted in accordance with the statutory provisions.

6. Rights of the concerned person

a) Right of confirmation

Every concerned person has the right granted by the European Directive and Regulation to obtain confirmation from the controller as to whether personal data concerning him or her are being processed. If a concerned person wishes to exercise this right of confirmation, he or she may, at any time, contact our Data Protection Officer or another employee of the controller.

b) Right of access

Any concerned person by the processing of personal data has the right granted by the European Directive and Regulation to obtain at any time from the controller, free of charge, information about the personal data stored about him or her and a copy of that information. In addition, the European Directive and Regulation Body has granted the concerned person access to the following information:

  • the purposes of the processing
  • the categories of personal data processed
  • the recipients or categories of recipients to whom the personal data have been or will be disclosed, in particular in the case of recipients in third countries or international organisations
  • if possible, the planned duration for which the personal data will be stored or, if this is not possible, the criteria for determining this duration
  • the existence of the right to obtain the rectification or erasure of personal data concerning him or her, or the restriction of processing by the controller, or the right to object to such processing
  • the existence of a right of appeal to a supervisory authority
  • if the personal data are not collected from the concerned person: Any available information on the origin of the data
  • the existence of automated decision-making, including profiling, pursuant to Article 22(1) and (4) of the GDPR and, at least in these cases, meaningful information about the logic involved and the scope and intended effects of such processing for the concerned person.

Furthermore, the concerned person shall have the right to obtain information as to whether personal data have been transferred to a third country or to an international organisation. If this is the case, the concerned person also has the right to obtain information on the appropriate safeguards in relation to the transfer. If a concerned person wishes to exercise this right of access, he or she may at any time contact our data protection officer or another employee of the controller.

c) Right of rectification

Every concerned person by the processing of personal data has the right granted by the European Directive and Regulation to demand the immediate correction of incorrect personal data concerning him or her. Furthermore, the concerned person has the right to request the completion of incomplete personal data, including by means of a supplementary declaration, taking into account the purposes of the processing. If a concerned person wishes to exercise this right of rectification, he or she may, at any time, contact our data protection officer or another employee of the controller.

d) Right to erasure (“right to be forgotten”)

Any concerned person by the processing of personal data has the right, granted by the European Directive and Regulation, to obtain from the controller the erasure without delay of personal data concerning him or her, where one of the following grounds applies and insofar as the processing is no longer necessary:

  • The personal data were collected or otherwise processed for such purposes for which they are no longer necessary.
  • The concerned person withdraws the consent on which the processing was based pursuant to Article 6(1)(a) of the GDPR or Article 9(2)(a) of the GDPR and there is no other legal basis for the processing.
  • The concerned person objects to the processing pursuant to Article 21(1) of the GDPR and there are no overriding legitimate grounds for the processing, or the concerned person objects to the processing pursuant to Article 21(2) of the GDPR.
  • The personal data have been processed unlawfully.
  • The erasure of the personal data is necessary for compliance with a legal obligation under Union or Member State law to which the controller is subject.
  • The personal data have been collected in relation to information society services offered pursuant to Article 8(1) GDPR.

If one of the aforementioned reasons applies, and a concerned person wishes to arrange for the erasure of personal data stored by the Fidaris, he or she may, at any time, contact our data protection officer or another employee of the controller.

The data protection officer of the Fidaris or another employee shall arrange for the erasure request to be complied with immediately.

If the personal data have been made public by the Fidaris and our enterprise as the controller is obliged to erase the personal data pursuant to Article 17(1) of the Data Protection Regulation, the Fidaris shall, taking into account the available technology and the cost of implementation, implement reasonable measures, including those of a technical nature, to inform other data controllers which process the published personal data, that the concerned person has requested from those other data controllers the erasure of all links to the personal data or to copies or replications of the personal data, unless the processing is necessary. The Data Protection Officer of the Fidaris or another employee will arrange the necessary in individual cases.

e) Right to restriction of processing

Any concerned person by the processing of personal data has the right, granted by the European Directive and Regulation-maker, to request the controller to restrict the processing if one of the following conditions is met:

  • The accuracy of the personal data is contested by the concerned person for a period enabling the controller to verify the accuracy of the personal data.
  • The processing is unlawful, the concerned person objects to the erasure of the personal data and requests instead the restriction of the use of the personal data.
  • The controller no longer needs the personal data for the purposes of the processing, but the concerned person needs it for the assertion, exercise or defence of legal claims.
  • The concerned person has objected to the processing pursuant to Article 21(1) of the GDPR and it is not yet clear whether the legitimate grounds of the controller override those of the data subject.

If one of the aforementioned conditions is met, and a concerned person wishes to request the restriction of personal data stored by the Fidaris, he or she may, at any time, contact our data protection officer or another employee of the controller. The data protection officer of the Fidaris or another employee will arrange the restriction of the processing.

f) Right to data portability

Any concerned person by the processing of personal data has the right granted by the European Directive and Regulation to receive the personal data concerning him or her which have been provided by the data subject to a controller in a structured, commonly used and machine-readable format. The data subject shall also have the right to transmit such data to another controller without hindrance from the controller to whom the personal data have been provided, provided that the processing is based on consent pursuant to Article 6(1)(a) of the GDPR or Article 9(2)(a) of the GDPR or on a contract pursuant to Article 6(1)(b) of the GDPR and the processing is carried out by automated means, unless the processing is necessary for the performance of a task carried out in the public interest or in the exercise of official authority vested in the controller.

Furthermore, when exercising the right to data portability pursuant to Article 20(1) of the GDPR, the concerned person shall have the right to obtain the direct transfer of personal data from one controller to another controller where technically feasible and provided that this does not adversely affect the rights and freedoms of other persons.

In order to assert the right to data portability, the concerned person may at any time contact the Data Protection Officer appointed by the Fidaris or another employee.

g) Right to object

Any concerned person by the processing of personal data has the right, granted by the European Directive and Regulation, to object at any time, on grounds relating to his or her particular situation, to processing of personal data concerning him or her which is carried out on the basis of Article 6(1)(e) or (f) of the Data Protection Regulation. This also applies to profiling based on these provisions.

Fidaris shall no longer process the personal data in the event of the objection, unless we can demonstrate compelling legitimate grounds for the processing which override the interests, rights and freedoms of the data subject, or for the assertion, exercise or defence of legal claims.

In addition, the concerned person has the right, on grounds relating to his or her particular situation, to object to processing of personal data concerning him or her which is carried out by the Fidaris for scientific or historical research purposes, or for statistical purposes pursuant to Article 89(1) of the Data Protection Regulation, unless such processing is necessary for the performance of a task carried out for reasons of public interest.

In order to exercise the right to object, the concerned person may directly contact the Data Protection Officer of the Fidaris or another employee. The concerned person is also free to exercise his/her right to object by means of automated procedures using technical specifications in the context of the use of information society services, notwithstanding Directive 2002/58/EC.

h) Automated decisions in individual cases, including profiling

Any concerned person by the processing of personal data shall have the right, granted by the European Directive and the Regulation, not to be subject to a decision based solely on automated processing, including profiling, which produces legal effects concerning him or her or similarly significantly affects him or her, provided that the decision (1) is not necessary for entering into, or the performance of, a contract between the data subject and the controller, or (2) is authorised by Union or Member State law to which the controller is subject and that such law lays down appropriate measures to safeguard the data subject’s rights and freedoms and legitimate interests, or (3) is made with the data subject’s explicit consent.

If the decision is necessary for entering into, or the performance of, a contract between the data subject and the controller, or if it is made with the data subject’s explicit consent, Fidaris shall implement suitable measures to safeguard the data subject’s rights and freedoms and legitimate interests, including at least the right to obtain the data subject’s involvement on the part of the controller, to express his or her point of view and contest the decision.

If the concerned person wishes to exercise the rights concerning automated decisions, he or she may, at any time, contact our data protection officer or another employee of the controller.

i) Right to withdraw consent under data protection law

Every concerned person by the processing of personal data has the right granted by the European Directive and Regulation to withdraw consent to the processing of personal data at any time. If the concerned person wishes to exercise the right to withdraw consent, he or she may, at any time, contact our data protection officer or another employee of the controller.

7. Data protection during applications and the application process

The data controller collects and processes the personal data of applicants for the purpose of handling the application procedure. The processing may also be carried out by electronic means. This is in particular the case when an applicant submits relevant application documents to the controller by electronic means, for example by e-mail or via a web form located on the website. If the controller concludes an employment contract with an applicant, the transmitted data will be stored for the purpose of processing the employment relationship in compliance with the statutory provisions. If the controller does not conclude an employment contract with the applicant, the application documents shall be deleted three months after notification of the rejection decision, provided that no other legitimate interests of the controller conflict with such deletion. Other legitimate interest in this sense is, for example, a duty to provide evidence in proceedings under the General Equal Treatment Act (AGG).

8. Legal basis of the processing

Article 6(1)(a) GDPR serves as the legal basis for our law firm for processing operations where we obtain consent for a specific processing purpose. If the processing of personal data is necessary for the performance of a contract to which the concerned person is a party, as is the case, for example, with processing operations that are necessary for a delivery of goods or the provision of another service or consideration, the processing is based on Art. 6(1)(b) GDPR. The same applies to such processing operations that are necessary for the implementation of pre-contractual measures, for example in cases of enquiries about our products or services or in application procedures. If our law firm is subject to a legal obligation by which the processing of personal data becomes necessary, such as for the fulfilment of tax obligations, the processing is based on Art. 6(1)(c) GDPR. In rare cases, the processing of personal data might become necessary in order to protect the vital interests of the data subject or another natural person. This would be the case, for example, if a visitor were to be injured on our premises and as a result their name, age, health insurance details or other vital information needed to be passed on to a doctor, hospital or other third party. Then the processing would be based on Art. 6(1)(d) GDPR. Finally, processing operations could be based on Article 6(1)(f) of the GDPR. Processing operations which are not covered by any of the aforementioned legal bases are based on this legal basis if the processing is necessary for the protection of a legitimate interest of our law firm or a third party, provided that the interests, fundamental rights and freedoms of the concerned person are not overridden. Such processing operations are permitted to us in particular because they were specifically mentioned by the European legislator. In this respect, it took the view that a legitimate interest could be assumed if the concerned person is a customer of the controller (recital 47, sentence 2 of the GDPR).

9. Legitimate interests in the processing pursued by the controller or a third party

Where the processing of personal data is based on Art. 6(1)(f) GDPR, our legitimate interest is to conduct our business for the benefit of the welfare of our employees and our shareholders.

10. Duration for which the personal data are stored

The criterion for the duration of the storage of personal data is the respective statutory retention period. After expiry of the period, the corresponding data is routinely deleted, provided that it is no longer required for the fulfilment of the contract or the initiation of the contract.

11. Legal or contractual requirements for the provision of personal data; necessity for the conclusion of the contract; obligation of the data subject to provide personal data; possible consequences of non-provision

We would like to inform you that the provision of personal data is sometimes required by law (e.g. by tax regulations) or may also result from contractual regulations (e.g. information on the contractual partner). Sometimes, in order to conclude a contract, it may be necessary for a concerned person to provide us with personal data that must subsequently be processed by us. For example, the concerned person is obliged to provide us with personal data if our law firm concludes a contract with him or her. Failure to provide the personal data would mean that the contract with the concerned person could not be concluded. Before providing personal data by the concerned person, the concerned person must contact our data protection officer. Our data protection officer will inform the concerned person on a case-by-case basis whether the provision of the personal data is required by law or by contract or is necessary for the conclusion of the contract, whether there is an obligation to provide the personal data and what the consequences of not providing the personal data would be.

12. Existence of automated decision-making

As a matter of principle, we do not use automated decision-making or profiling.

13. Contact details of our data protection officer

Article 37 paragraph 7 of the General Data Protection Regulation (GDPR) obliges us to provide the contact details of our data protection officer:

Mr. Jens Gabler

Fidaris GmbH  .  Wirtschaftsprüfungsgesellschaft  .  Steuerberatungsgesellschaft

Bahnstrasse 16
40212 Duesseldorf
Telefon +49 211 54590-000
E-Mail dsb@fidaris.com

AGN International Ltd (and its regional affiliates; together „AGN“) is a not-for-profit worldwide membership association of separate and independent accounting and advisory businesses. AGN does not provide services to the clients of its members, which are provided by members alone. AGN and its members are not in partnership together, they are neither agents of nor obligate one another, and they are not responsible or liable for each other’s services, actions or inactions.

Alternative Investments

„Gängelei“ und „Gestaltungs­wahn“

Der diesjährige „Tag der Industrie“ hat ein neues Verhältnis von Wirtschaft und Politik in Deutschland offenbart. Die Frankfurter Allgemeine Zeitung berichtete am 22. Juni 2021 über den „Tag der Industrie“ und die an die Kanzlerkandidaten gerichtete Frage des Präsidenten des BDI, ob Deutschland überhaupt noch Industrieland sein wolle. Über erkenntnisreiche Antworten gab es offenbar nichts zu berichten. Nur darüber, dass der Vorstandschef des Chemiekonzerns BASF der Politik „Gestaltungswahn“ konstatierte und der Europachef von BP von „Gängelei“ sprach.

Schon lange kennen wir diese Sorge vor wachsendem staatlichem Mikromanagement, vor der schleichenden Kriminalisierung von Steueroptimierungsstrategien und vor weitergehenden Maßnahmen, die den Fondsstandort Deutschland unattraktiv machen. Seit Jahren lautet die Anpassungsmaßnahme: Flucht in andere Jurisdiktionen, insbesondere nach Luxembourg.

Ob und in welchen Fällen ein solcher Schritt sinnvoll sein kann, welche strategischen, operativen und kostenrelevanten Implikationen zu beachten sind und wie ein solcher Schritt umgesetzt werden kann, erfahren Sie von unseren Experten. Sprechen Sie uns an!

Benötigen Sie Unterstützung?

Dr. Martin Poggemann
Telefonnummer: +49 211 545900-52
m.poggemann@fidaris.com

Always think outside the box: As both a lawyer and tax adviser, I like to think of myself as a networker for developing solutions that work for you both legally and fiscally.

Dr. Martin Poggemann, Partner
  • Legal advice (esp. commercial and corporate law, labour law, company law)
  • Tax consultancy (esp. corporate tax law, international tax law, transfer pricing)

Graduate and doctorate in law at the University of Hanover. Legal cleric at the Higher Regional Court of Celle with a final six-month posting at the Lower Saxony Tax Court. Worked for many years in the tax and legal departments of a ‘big four’ company based in Duesseldorf, most recently as an authorised signatory in the international tax department. From 2008 to 2021, partner in the tax and legal departments of a medium-sized international consulting firm in Duesseldorf.

Phone number: +49 211 545900-52
m.poggemann@fidaris.com

Opportunities don't happen – we create them.
As your adviser, I use all of the legal and fiscal freedom and flexibility available to find the right solutions for you.

Georg Keller, Partner
  • Tax structuring advice
  • Corporate transactions and reorganisations
  • Succession planning and concepts
  • Taxation of real estate

Graduated at the Federal College of Public Administration. Went on to study law and business administration at the University of Cologne. Several years of consulting experience with one of the ‘big four’ international consulting firms. Since 1998, partner in a medium-sized internationally oriented consulting firm in Duesseldorf.

Phone number: +49 211 545900-21
g.keller@fidaris.com

Legal Advice

We are available to advise you on all legal matters. Although we specialise in areas of law that affect businesses, in particular commercial law, we also consider all aspects governing tax law. Due to the close cooperation between our lawyers and our auditors, we are also able to manage economic issues such as financing questions and bank negotiations. In special cases such as patent law, intellectual property law, cartel law, etc., we work together with specialised cooperation partners in Germany and overseas. If you are setting up a business, we accompany you from the very start, in the choice of the right legal form, the drafting or adaptation of articles of association and the drafting of employment contracts. If restructuring your business should be necessary at any time, we are there to advise on planning and to ensure proper legal implementation.

Private law mediation can help avoid drawn-out and costly legal battles. As experienced mediators, we support parties with goal-oriented communication and structured procedures to resolve disputes amicably in compliance with professional and methodical standards. Especially in family matters, such as inheritance disputes or marital separations, individual solutions favorable for all parties can very often be found outside court.

Tax Consulting

Our experience and fields of specialisation enable us to provide tailored tax advice. By continually assessing the risks and monitoring obligations and tax deadlines, we provide first-class consultancy and tax declarations. Our services also include the monitoring of tax audits, the enforcement of tax law as well as the coordination of foreign tax advisers and the necessary FATCA/CRS compliance. Complex issues of international staff secondment, inheritance, wills, succession arrangements and gifts as well as general international tax law are our day-to-day business, as are external tax audits, audits by health insurance funds, employers’ liability insurance associations, customs offices, etc. We develop and draw up a transfer pricing policy to ensure compliance with both German and overseas tax laws. To prevent your tax activities from becoming the subject of a criminal tax investigation, we offer important information and preventive advice in order to properly assess your tax risks.

Auditing

As modern auditors, we offer you more than just an audit of your accountancy. Comprehensive, high-quality and future-oriented auditing services must always translate into added value for the client: From brainstorming in difficult decision-making situations to investment appraisals and auditing services to safeguard voluntary or statutory annual financial statements.

Take advantage of our diversity and our independent feedback to make sure you make the right decisions for your business.

Audit services

Our group and annual audits are geared to the individual requirements of your company. The in-house meetings with all levels of a company are a vital aspect of our audits. Our high quality is confirmed by the regulatory authorities during their regular quality assessments.

Mergers and acquisitions

As soon as a company is bought or sold, a variety of legal, tax and economic questions arise. Our experience and knowledge contributes to a successful sale or takeover while accompanying every step along the way:

  • Financial due diligence
  • Tax due diligence
  • Legal due diligence

Business valuation

Depending on the purpose of a valuation (sale, purchase, donation, inheritance, merger, etc.) we can determine the economic value of entire companies, company shares as well as intangible and tangible assets based on recognised standards (national and international).

In doing so, we adapt our services to your individual needs:

  • Support in initial discussions to establish reasons for your purchase or sale consideration
  • Preparation of an initial business valuation to assess your investment or divestment decision
  • Determination of your personal marginal price (maximum purchase price/minimum sale price)
  • Preparation of a complete business valuation in accordance with IDW (Institute of Public Auditors in Germany, Incorporated Association) standards.

International Organisations

Germany benefits from BREXIT as a business location

Since the UK left the EU, foreign investors are increasingly using Germany as a business location to access the EU single market. Good infrastructure, a well-trained workforce and a stable legal system play an important role in this decision.

Once a new location in Germany has been found, it is necessary, among other things, to establish business units, obtain legal permits, conclude tenancy agreements, hire employees, obtain residence permits and complete tax registrations. Companies can then very soon expect the first tax obligations (VAT registrations), combined with accounting and business management tasks as well as analysing and pricing of intra-group transactions.

FIDARIS supports you in setting up subsidiaries for foreign investors and handles the legal, tax and business management arrangements.

Do you need assistance?

Georg Keller
Tel.: +49 211 545900-21
g.keller@fidaris.com

Alternative Investments

Accusations of "interference" and "nanny state"

This year’s “Day of Industry” revealed a new relationship between business and politics in Germany. On 22 June 2021 the national FAZ newspaper reported on the “Day of Industry” and the question posed by the President of the BDI (Federation of German Industries) to the chancellor candidates as to whether Germany still intended to be an industrial country at all. The candidates themselves evidently had no decisive answers to the question. As opposed to the non-responsive candidates, the CEO of the BASF chemical group accused politics of turning into a “nanny state” and the European boss of BP spoke about “patronization”.

We have long been aware of the growing concern about the micromanagement of the state as well as of concerns about the subtle criminalization of tax optimization strategies and about further measures making Germany less attractive as an investment fund location. For many years the response has been to seek other jurisdictions to operate in, especially Luxembourg.

Our experts advise you how and when a step such as the one mentioned above is favorable, which strategic, operational and cost-relevant implications have to be considered and what actions have to be taken to implement your interests. Contact us today!

Do you need assistance?

Dr. Martin Poggemann
Tel.: +49 211 545900-52
m.poggemann@fidaris.com

Financial Services

Securities Industry Act (WpIG) enters into force in Germany

On 26 June 2021 the new Securities Institutions Act (WpIG) came into force thus removing the supervision of securities firms from the German Banking Act (KWG) and applying new regulations. Its purpose is to create an uncomplicated legal system proportional to complexity of small and medium-sized investment firms.

The new Securities Institutions Act essentially regulates the following aspects in relation to size and importance of investment firms:

  • Equity requirements
  • Requirements for organization of the company and obligations of disclosure-Standards
  • Standards for assessing the adequacy of internal capital requirements
  • Requirements for the board of directors and supervisory bodies
  • Regulations on remuneration policy

Although it appears, at first glance, as if a new regulation from the Federal Financial Supervisory Authority (BaFin) will essentially transfer the requirements for banks to securities firms, there are in fact numerous changes that on the one hand lead to tightening, but on the other hand to significant simplification and benefits for the institutions concerned.

Use our gap analysis to assess your status quo and benefit from a practical and audit-proof implementation. Contact us today!

Do you need assistance?

Dr. Martin Poggemann
Tel.: +49 211 545900-52
m.poggemann@fidaris.com

Public Sector

Taxation of Public Authorities

The public sector often competes with private-sector firms, providing a wide range of services outside of its core obligations. Driven by European legal requirements, the tax authorities are increasingly turning their focus to the taxation of the public sector. It is therefore necessary to monitor the implementation of new tax legislation- such as § 2b Sgt (German VAT law) – to comply with statutory requirements and to use fiscal leeway for minimising tax liability. Although taxes have long been an important topic, many in the public sector are not even aware of their tax obligations. FIDARIS supports all public sector activities in their development into business management enterprises. Do you need assistance? Stephan Lindermann Tel.: +49 211 545900-27
s.lindermann@fidaris.com

Private Individuals, Families and Self-Employed Individuals

Will there be changes to inheritance tax?

Successful succession planning is important for the retention of large assets, especially when it involves company succession. When a family business passes from one generation to another, the different interests of the generations must be aligned with the needs of the business. The drawing up of a suitable will or inheritance contract also plays an important role. As a result of globalisation, the assets of many families and private individuals are often spread around the world. In this situation, it is recommended to seek advice in order to prevent the double taxation of wealth and assets in individual countries. The upcoming general election in Germany is causing uncertainty as to whether a new government will increase taxes to cover the considerable costs of the Corona pandemic and the flood disaster.

We facilitate the generational transition, develop individual solutions with the parties and beneficiaries involved and manage the numerous legal and tax hurdles, for example in providing financial security for the entrepreneur and family or in transferring assets to minors.

Do you need assistance?

Georg Keller
Tel.: +49 211 545900-21
g.keller@fidaris.com

SMEs & National Companies

Tax Risk

We have noticed that tax authorities are increasingly taking audit results as an opportunity to initiate criminal tax investigations. In today´s regulatory environment, even minor discrepancies or omissions seem to be sufficient to criminalize companies and their management. To avoid encountering these types of problems during a tax audit, it is highly advisable to set up and manage your documents with a so-called “Tax Compliance Management System” (Tax-CMS). This essentially helps companies document their own business procedures to ensure the thorough and correct preparation of business tax returns. If this documentation is available to the tax authorities on time, it may avert any accusations of tax evasion, whether with intent or by negligence. FIDARIS provides support in the planning and documentation of your tax processes. Do you need assistance? Stephan Lindermann Tel.: +49 211 545900-27 s.lindermann@fidaris.com

Accounting

Accounting is the root of any company: This is where the company’s management data and information is stored and where the annual financial statements are drawn up in compliance with commercial and tax law.

Our services:

  • Processing of current accounting
  • Payroll accounting for your employees
  • Business controlling analyses
  • Planning calculations
  • Insightful monthly, quarterly and annual financial statements

Accounting & reporting

As your accounting partner, we manage a part or all of our clients’ accounting, including payment transactions, dunning and management reports. We do so by adapting our methods to your company’s processes, right up to an integration into your accounting systems such as SAP, Navision, EXACT Online, SAGE, Addison etc.

Payroll accounting and payroll tax optimisation

Efficient and qualified payroll accounting is a cornerstone of any financially sound company. As part of proper compliance and to minimize material risks, we prepare your payrolls using efficient, digitised processes to achieve a high level of transparency.

Our consultants support with operational and strategic payroll tax advice. By means of highly qualified strategic consulting, we support medium-sized to DAX companies in all payroll tax issues. This includes analysing tax-relevant business processes and optimising tax expenditure as well as ways to avoid wage tax and criminal law risks. Our activities also cover support with external wage tax audits, providing defence against unjustified tax evasion claims and the enforcement of rights in legal proceedings up to the Federal Fiscal Court. Wage tax contract optimisations, advice on HR management guidelines and the establishment of compliance and internal controlling systems are also part of our services.

Take the risk or lose the chance -
As an auditor, I see it as my task to help you in clearly identifying risks and leveraging your opportunities.

Stephan Lindermann, Partner
  • Auditing
  • Due diligence and business valuation
  • Company succession

Studied economics at the University of Karlsruhe. Subsequently worked in consulting and auditing at one of the “big four” auditing companies with a most recent top management position in the international sector. Since 2000, partner in a medium-sized, internationally oriented consulting firm in Duesseldorf.

Phone number: +49 211 545900-27
s.lindermann@fidaris.com