Bundesjustizministerin Stefanie Hubig of the SPD plans to introduce a new corporate form that imposes strict asset binding. The outline paper issued by her department, reported by “Handelsblatt” in the Monday edition, proposes a “Gesellschaft mit gebundenem Vermögen” (GmgV). In this structure, profits are not allowed to be distributed; the capital must remain within the company. Hubig stressed that the focus is not on quick gains but on the long‑term development of the business, describing the initiative as “responsible and sustainable economic activity”. The core feature is an irrevocable asset bond, and the paper explicitly excludes performance‑linked remuneration or bonus payments to the board. Membership is personal and cannot be freely transferred or inherited, and decisions are to follow a “one member, one vote” principle.
Bundesfinanzminister Lars Klingbeil (SPD) has confirmed the plans. He added that the new legal form will be safeguarded against tax‑avoidance schemes. The suggested taxation would mirror that of cooperatives and include periodic replacement taxation to prevent circumventing inheritance tax. The Justice Ministry intends to discuss the framework with the Länder and industry associations, but no concrete timetable for legislation has been set yet.
