Glossary

Future Financing Act

The Future Financing Act (Zukunftsfinanzierungsgesetz – ZuFinG) is a German reform aimed at improving capital market access, boosting startup financing, and enhancing employee stock ownership schemes. It simplifies IPO procedures, lowers regulatory barriers for issuing securities, and expands electronic securities law to include tokenized assets. The act also enhances § 19a EStG, making stock options more attractive by allowing grants from group companies (Konzernklausel) and easing tax burdens. Additionally, it introduces incentives for venture capital investments and startup funding.…