German Residency Through Business
Germany is the largest country within Europe and the second biggest exporter in the world after China. Well positioned geographically for both eastern and western Europe, with ready access to Asia and the Americas, German is the most widely spoken first language in the European Union. Germany’s position as the third largest economy in the world means it is widely considered a prime place to invest.
With German law making no distinction between Germans and foreigners in the establishment of companies, and no restrictions on the repatriation of profits, there is little to stand in the way of ambitious expatriate entrepreneurs with some capital behind them.
Residency through Business
Germany welcomes those who intend to undertake legitimate business activities there and will make a positive impact on the economy.
- The ability to reside in Germany with your dependents – a spouse and children under eighteen
- Permanent residency after three years if requirements are met
- Apply for citizenship after eight years of residing in Germany.
- Germany’s higher economic interest or a special regional need for your business
- The expectation that your business will have a positive effect on the economy
- Financing secured through equity or by a bank loan
- The business will not damage Germany’s overall economic interests.
By fulfilling these conditions it will generally be presumed that you have met the requirements for commercial migration, but you will also need a detailed business plan for your venture.
When applying for a residency permit based opening a business, a business plan is mandatory. The business plan will be prepared by a specialist in Germany, based upon specific information provided by the applicant.
The Ministry of Economy of the respective Federal State and/ or Chamber for Industry and Commerce will evaluate the business plan in order to ensure that the plan fulfils the requirements.
The authorities will test your case, based upon
- Your experience as an entrepreneur
- The level of capital you are investing
- The effects on the employment and the training situation, and
- The contribution you have made to innovation and research.
- Supplying a checklist for all documents to be submitted
- Confirmation of the office where documents must be submitted
- Streamlining supplementary documents
- Handling legal questions received from the authorities
- Supplementary letter to convince the authorities to grant your application
- General advice/instruction during the application process
- Submitting your application details in advance to local authorities for them to process
- Client provided business plan (in German) will be proofread; translation will be invoiced separately.
During application proceedings, the business plan will be studied and evaluated by the competent Chamber for Industry and Commerce (IHK) and / or State Ministry of Economy.
It is worth noting that the time indicated below is estimated, and will depend on the individual.
- For Visas: In general it will take about two months
- For Residency Permits: This will take up to four months.
After successfully working as self-employed or running your business for three years, you will receive a permanent residency permit.