Dusseldorf skyline, By Lukasz/Adobe Stock German Legal Reforms To Level the Playing Field for Global Firms
German reforms aim to eliminate regulatory loopholes, address LLP eligibility and ownership structures, and make competition easier for international firms.
October 30, 2024 at 04:30 PM
3 minute read
Germany is weighing legal reforms that would allow international firms to compete on equal terms for the first time, closing loopholes that have long disadvantaged non-Europeans.
The Federal Ministry of Justice presented a 139-page proposal of reforms to Germany's states and legal associations on October 25 and requested comments. The proposals are geared to eliminating red tape and putting European and non-European law firms on an equal footing, but the specifics, cloaked in technical jargon and still at the consultation stage, are difficult to pin down.
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