Business consulting services
Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
Business process solutions
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
Business risk services
The relationship between a company and its auditor has changed. Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
Forensic and investigation services
At Grant Thornton, we have a wealth of knowledge in forensic services and can support you with issues such as dispute resolution, fraud and insurance claims.
Mergers and acquisitions
Globalisation and company growth ambitions are driving an increase in M&A activity worldwide. We work with entrepreneurial businesses in the mid-market to help them assess the true commercial potential of their planned acquisition and understand how the purchase might serve their longer- term strategic goals.
Recovery and reorganisation
Workable solutions to maximise your value and deliver sustainable recovery
Transactional advisory services
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
The International Financial Reporting Standards (IFRS) are a set of global accounting standards developed by the International Accounting Standards Board (IASB) for the preparation of public company financial statements. At Grant Thornton, our IFRS advisers can help you navigate the complexity of financial reporting from IFRS 1 to IFRS 17 and IAS 1 to IAS 41.
Audit quality monitoring
Having a robust process of quality control is one of the most effective ways to guarantee we deliver high-quality services to our clients.
Global audit technology
We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.
Corporate and business tax
Our trusted teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
Direct international tax
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
Global mobility services
Through our global organisation of member firms, we support both companies and individuals, providing insightful solutions to minimise the tax burden for both parties.
Indirect international tax
Using our finely tuned local knowledge, teams from our global organisation of member firms help you understand and comply with often complex and time-consuming regulations.
Innovation and investment incentives
Dynamic businesses must continually innovate to maintain competitiveness, evolve and grow. Valuable tax reliefs are available to support innovative activities, irrespective of your tax profile.
Private client services
Our solutions include dealing with emigration and tax mitigation on the income and capital growth of overseas assets.
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
Tax policies are constantly evolving and there are a number of complex changes on the horizon that could significantly affect your business.
A European hub with a fantastic blend of pro-business culture, top-quality infrastructure and high skills levels, Munich is the ideal base for companies looking to enter German and European markets.
“The city’s big advantage is described locally as the Munich Mix,” explains , partner at Warth & Klein Grant Thornton and one of the managing directors at its law firm. “Basically, this refers to the combination of factors that make Munich such a great place for business.”
With a wide range of business types already established in Munich, the city boasts strength in a number of key industrial sectors. “Our startup support system is fantastic,” Rau adds.
“There are a number of mid-size companies known as ‘hidden champions’ and many major corporations have their bases here, such as BMW, Siemens and Munich Re.”
In addition, Rau explains, the availability of skills to employers is outstanding. Munich is Germany’s second largest university city, with more than 120,000 students, while more than a third of the local workforce are graduates – a higher proportion than anywhere else in the country, and more than double the national average.
Opportunities for suppliers
Sectors with a strong presence in the region include automotive, insurance and financial services, and technology,” Rau adds. “For example, Apple and Google have recently extended their bases here. Major players like these need suppliers and there are some great opportunities for international businesses.”
In terms of both national and international connections, Munich is well placed. Its airport is among the biggest and best in Germany and its position in the south of the country means it is centrally located in Europe.
Accordingly, Rau says, the city’s population is itself very cosmopolitan, with foreign residents making up almost a third.
“Part of the reason behind this is the fact that the quality of life here is excellent: you’ve got attractions ranging from world-class opera to the nearby mountains,” he explains. “But Munich is also highly entrepreneurial. It is without doubt a rich city and you can’t become that without being able to attract a large number of entrepreneurs.”
Tax and trade advantages
Given its status as a highly sought-after destination in one of the world’s leading economies, corporate income taxes (Körperschaftssteuer) on business are in general in Germany and therefore also in Munich equal, explains Rau. The locally imposed Gewerbesteuer (business tax) varies throughout the country but there are parts of the Munich area where the locally imposed Gewerbesteuer is significantly lower, such as in the Gruenwald suburb.
And as part of the European Union, Germany’s trade with nearly 30 countries in the continent is entirely free of tariffs and other barriers. The EU also has trade agreements in numerous sectors with economies all over the world.
Real estate is another important sector for Munich. The turnover of office space is higher here than in any other part of the country and vacancy rates are lower than anywhere outside Berlin.
“Munich also hosts the annual Expo Real trade fair,” Rau adds. The 2019 event, which took place in October, had exhibitors from 45 countries.
Gateway to Germany and Europe
While other German cities specialise in certain areas, such as financial services in Frankfurt or technology startups in Berlin, Munich welcomes businesses across sectors and combines multiple factors that international businesses are looking for when choosing a new regional hub.
Munich’s entrepreneurial spirit and world-class infrastructure make it the ideal gateway for companies looking to expand into Germany and Europe in general.
To discuss your business expansion in the region, contact Stefan Rau.
Munich quick facts
- Location: South-east Germany
- Time zone: Central European Standard Time GMT +0100
- Population: 6.1 million (Munich metropolitan region)
- GDP: US$226.96 billion (2018)
- Industrial strengths: Automotive, technology, financial services, life sciences
- Growth sectors: Technology, digitalisation, biotech
- Regional access: Berlin 1 hour 10 minutes by air; Frankfurt 1 hour 5 minutes; Milan 1 hour 5 minutes; Paris 1 hour 40 minutes; London 2 hours