Germany has been deemed as the fifth most favorable country to move to. This favorability is due to its well-performing economy, education system, and employment opportunities. Germany is the best place for international investors and entrepreneurs. The economic and political stability Germany offers are major attractions for people planning to shift their business there. The workforce in Germany is highly compatible and technology-friendly which helps in boosting your business to another level. Germany has the most investment opportunities in the whole European region and gives you an opportunity to make a way towards the world’s 3rd strongest economy.
Business Investment & Requirements
The key to obtaining a German residence permit as an entrepreneur according to § 21 AufenthG (Residence Act) is to show that the business will have a positive effect on the German economy. Entrepreneurs must show that their business will increase the market potential as well as sales opportunities of other German enterprises and that it will create a positive impact on the economy.
FACTORS TO GET APPROVAL FOR BUSINESS PLAN:
- Consistency and Sustainability of the Applicant’s Business Idea.
- A handful of entrepreneurial experience of the Applicant.
- Relevant qualification of the entrepreneur.
- Proof for financial investment for a business.
- Impact report of the plan on employment & vocational training.
- How your business will contribute to the national & regional economy?
- A keen understanding of the competition in the business market.
In 2012, the immigration law and Residence act was changed to the effect that the applicant will no longer have to demonstrate a minimum investment amount or the creation of a certain number of workplaces. Initially, it was necessary to identify an exceptional economic interest or a special regional need in particular if substantial investments were made and a significant number of jobs are created or secured.
If the applicant has exceeded the 45th year of his life, they will be required to prove that adequate pension provisions have been made.
Procedure for Business Immigration to Germany:
DRAFTING A BUSINESS PLAN
Having a concrete business idea with secure funding is the first step towards German Business Immigration. The applicant needs to draft the final document to present it to the relevant authorities to take forward the process.
DISCUSSING THE BUSINESS PLAN WITH THE LOCAL CHAMBER OF COMMERCE AND INDUSTRY
The local chamber of commerce gives feedback on the business plan and helps you in improving the idea if it doesn’t meet the requirements.
INCORPORATING A COMPANY
Here comes the time where our legal advisors help you with collecting all the documents and get them verified and submitted to the authorities.
APPLICATION FOR VISA ACCORDING
Once all the required documents are here, the Visa application gets submitted under Germany’s § 21 Residence Act.
ENTRY TO GERMANY AND REGISTRATION WITH THE LOCAL REGISTRATION OFFICE
After getting the approval, the applicant will enter Germany and our advisors will help in getting your business registered with German authorities.
APPLYING FOR A RESIDENCE PERMIT BY SUBMITTING ALL DOCUMENTS
Now the business is registered, our advisor will guide you to apply for a residence permit by making sure that all the requirements are answered and no point left for the objection from German Immigration Authorities.