Future Financing Act launched (BMF)

Online message – Tuesday 04/04/2023

Legislation | Future Financing Act launched (BMF)

The Future Financing Act is intended to support private wealth accumulation and mobilize more private capital for future investments in climate protection and digitization. The Federal Ministry of Finance and the Federal Ministry of Justice jointly presented key points for this, and now they have launched the project.

Background: The capital market should become more modern, international and less bureaucratic in order to make the German financial market and Germany more attractive as a location and to give strong impetus to the stock culture in Germany. Start-ups, growth companies and small and medium-sized companies should have easier access to the capital market.

Cornerstones of the Future Financing Act

The Future Financing Act is intended to bring together extensive measures and bundle regulations from company law, capital market law and tax law.

The cornerstones include the following improvements:

• Reduction of the minimum capital for an IPO from currently 1.25 million euros to 1 million euros and examination of further simplifications in the regulatory requirements in connection with capital market access

• Facilitation of investments by institutional investors in the field of start-ups, growth companies and SMEs as well as better framework conditions for modern types of transactions such as special purpose acquisition companies.

• Digitization of the capital market, e.g. B. the possibility of issuing shares with electronic securities is created (e.g. with blockchain technology or comparable technologies)

• Examination of improved portability of crypto assets

• Introduction of shares with multiple voting rights

• Greater digitization and internationalization of supervision and supervisory law

• Higher tax attractiveness of share and asset investments, in particular through the promotion of share savings with an allowance for profits from the sale of shares and share fund shares achieved in private assets

• Tax amendment and thus simplification of employee capital participation

Those: BMF online
(RD)

Source(s):
NWB AAAAJ-36936