Jesch on Venture Capital Funds in Germany
Thomas A. Jesch (Counsel, Frankfurt) has authored an article on "Venture Capital Funds in Germany” in the Financial Yearbook Germany 2013 (10th Edition).
Thomas outlines the main legal and tax roadblocks for venture capital investments in Germany like, e.g., the threat of a trade qualification for tax purposes, the potentially changing capital gains taxation regime in Germany and the elimination of loss-carry forwards. He also discusses the potential German transposition of the EU Alternative Investment Fund Managers Directive into German law that might motivate GPs to launch their future fund generations in Luxembourg.
Download: Article (PDF, 475.39 K)