Germany is one of the biggest economies in Europe with highly skilled workforce. Germany Germany is part of the European single market which represents more than 508 million consumers and largest contributor of European Union budget.
Germany lately emerged as one of the best investment destinations in Europe opening doors to large businesses, entrepreneurs.
§ 21 AufenthG (German residence act) entrepreneurs and self-employed personnel from third-countries can acquire a German residence permit. The following applicants are entitled to apply:
- Foreign entrepreneurs, who aim to start-up a business in Germany
- Foreign entrepreneurs who aim to set up an overseas branch
- Freelancers
The minimum investment needed is EUR 200,000 for the application to be considered by German authorities under the investment criteria.
The key to obtaining a German residence permit as an self employed person is showing that the business will have positive effects on the German economy and create local jobs.
The residence permit granted under business is limited to a period of 3 years and then can be prolonged later.
A Permanent settlement permit (unlimited residence permit – § 9 section 2 AufenthG) in Germany can be granted after 3 years, if a full coverage of the applicants means of subsistence and a successful business can be demonstrated.
There are no minimum residence requirements to live in Germany unless you are interested in Permanent residency or Citizenship. You must visit atleast once in a year and investors can also include for family members for residence permit under family unification category. Those who have received residence permit card can freely visit 26 schengen countries for upto 90 days in 6 month period but must carry passport and residence card issued by Germany.
Naturalizing for Citizenship in Germany is possible after 8 years of continuous living in Germany, provided there is..
- No criminal record.
- Sufficient income and financial means to live in Germany
- Paid Taxes and Health contributions
- Knowledge of German language.
Our lawyers can help you with immigration and citizenship matters including taxes, accounting etc in Germany. Please contact us for more information.