In Germany there is a similar thing where you need to deposit at least 25,000 € as collateral to be able to create a GmbH (similar to an LLC). This is meant to pay for debts in case the GmbH goes bankrupt.
But the government recognized that this was a problem so the "UG (haftungsbeschränkt)" was made possible where you are only required to deposit 1 € initially and than can deposit more each year until you can convert to a GmbH. The UG obviously has to pay more interest on loans if it gets any at all but you are not required to be wealthy to be able to protect yourself from bankruptcy.
But the government recognized that this was a problem so the "UG (haftungsbeschränkt)" was made possible where you are only required to deposit 1 € initially and than can deposit more each year until you can convert to a GmbH. The UG obviously has to pay more interest on loans if it gets any at all but you are not required to be wealthy to be able to protect yourself from bankruptcy.