Germany’s Residence By Investment Scheme – All You Should Know

Europe’s economic superstar attracts the world. Whether it is education, job opportunities, or cultural delights, the Germanic experience is one of the most sought-after ones in the world. Germany is a highly developed nation with solid roots in the International world. Germany is among the central figures in the European Union and its politics, has massive influence in the United Nations, and maintains a highly laudable framework for investors worldwide that contributes to its already sturdy economic walls. With so much on its plate, it is not surprising that people would want a piece of it.

Like its European counterparts, Germany has been attuned to the calls of global investors. However, the country didn’t roll out the typical Golden Visa program like its neighbors. Instead, it came up with what is called a Self-Employment Visa scheme. The said scheme is a step towards acquiring German citizenship but does not automate its acquisition process. The Self-Employment Visa, also called the Entrepreneurial Visa or Visa for Setting Up a Business, comes with its terms and conditions subject to which benefits are extended to the investors. Read more to know about them and decide for yourself what you must do.

A Brief Overview 

Under Article 21 of the German Residence Act, the Self-Employment Visa scheme has been created. Under this scheme, the applicant is extended a residence permit upon specific investment in the form of a business. They can acquire permanent residence in the country and benefit from it.
However, they can apply for citizenship only after being a permanent resident for six years. If they were to take the regular route for permanent residency, they would have ordinarily taken four to five years for the same. But, under the scheme, permanent residence is issued after three years only.

Requirements to be met 

The nucleus of any investor visa scheme is the investment made. In Germany’s Investor visa scheme, a set of requirements must be mandatorily fulfilled.

• The first and foremost requirement is the creation of a business plan. The said business plan is the blueprint of the proposed business in the country. It should outline the goals, capital, purpose, and modus operandi, among others.
• The applicant must show pertinent business experience.
• The business proposed in the plan must be oriented to affect the country’s economy positively.
• Job creation is an essential outcome of the business. The said business must hire a minimum of five persons from Germany.
• It is required that the business is financed via a loan commitment or equity capital.
• There is no minimum amount for investment; that being said, it is recommended that EUR 350,00 should be invested at the minimum.

Other Requirements 

Aside from the investment requirements, there are other conditions to be met. These include:

• The applicant must be at least 18 years old.
• The business plan must be properly drafted and submitted as per guidelines.
• The applicant must not come with any criminal antecedents; a police clearance certificate will have to be furnished.
• The source of the funding and income must be legal.

The process 

I will lay down the application process in brief:

• The applicant must submit the business plan to the German Chamber of Commerce and Industry.
• Once the Chamber evaluates and approves the plan, they will have to submit the application form at the German embassy in their country of residence.
• The immigration authorities will vet her application and grant a visa that is temporary in nature. The visa is valid for three years only and is renewable.
• After three years of continuous residence in the country, the applicant will become eligible for permanent residency.
• As a permanent resident, one must live a total of eight years in the country to become eligible for citizenship. One can avail of a two-year relaxation if they are well-assimilated into society and speak German fluently. This means that only six years of continuous residence is then needed.

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