Stripe CEO Patrick Collison shared the story of a German founder who paid €30,000 in notary fees to have a 90-page investment contract read aloud, as required by German law. The founder’s first company paid the bill and lost the day, while his second company was incorporated elsewhere. A ruling by the Higher Regional Court of Karlsruhe confirmed €63,110.85 in fees for the reading alone on a transaction assessed at roughly €35 million, with the total notary bill reaching about €100,000. Facing these costs, crypto startup founders, despite Germany leading the EU in MiCA licenses, are leaving for friendlier jurisdictions. The European Commission is now drafting EU Inc., an optional EU-wide company form promising fully digital formation within 48 hours, but Article 14 of the proposal could allow notary lobbies to maintain these requirements.
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