€30,000 to Read a Contract Aloud: German Notary Fee Goes Viral After Musk's ‘Wow'
Elon Musk needed one word for Europe's loudest startup debate of the week. He posted "Wow." The trigger was Stripe CEO Patrick Collison's story of a German founder who paid a €30,000 German notary fee to hear a 90-page investment contract read aloud. German law required the session.
Collison asked the founder whether the horror stories about German startup bureaucracy were exaggerated. The answer was that they are understated. The founder's first company paid the bill and lost the day. His second company was incorporated somewhere else.
Why a German Notary Fee Can Reach €30,000
The rule is real, with Collison's account pointing to Section 13 of the Beurkundungsgesetz, Germany's notarization law. The statute orders a notary to read the full deed aloud to everyone in the room.
This content is automatically aggregated. Full credit goes to the original publisher (beincrypto.com).
