German residence permit in exchange for starting a business in the country
Germany is one of a number of European countries where the “golden visa” does not apply. The country’s economy is well-developed and there is no need to grant citizenship to foreigners in exchange for their investments. However, this does not mean that there are no other ways to obtain a German residence permit; there is a mechanism for self-employed persons to obtain a visa. It allows foreigners to stay in the country legally on the condition that they open a business here.
The procedure for participation in this program may take about 6 months from the date of application. In this case, the conditions for obtaining a visa assume several options for investment. In addition to opening a business, you can buy real estate, government bonds, or donate.
The self-employed visa allows:
– visits to all Schengen countries without having to apply for additional visas;
– residence permits in Germany and travel to other EU countries apply to the applicant and his/her family – spouse and children up to the age of 18. At the same time, if the children are financially dependent on the applicant during their studies, they are also entitled to a visa until the age of 24;
– participants in the program are given the opportunity to use the services of the German healthcare and education system;
– after 8 years of living in the country, the resident has the right to apply for citizenship through the mechanism of naturalization.
People who are at least 18 years old and have no criminal record can apply for a self-employed visa. In addition, the applicant must be a citizen of the EU or a country that belongs to the European Economic Area.
In addition to submitting documents, the applicant must submit a carefully developed business plan for starting a business in Germany. The new company must employ at least five German citizens. If all the requirements are met, the foreigner will receive a visa to stay in the country where he is developing his business.
Another way to stay in Germany legally is through a program for hiring foreigners. The country plans to attract specialists from other countries in the most sought-after professions. The reason for this decision was a huge shortage of labor in the country, and to overcome it, it is necessary to close about 2 million jobs. The authorities intend to make concessions for the employment of foreigners.
The sectors most affected by the skills shortage are aviation and healthcare. In Lower Saxony, for example, an estimated 100,000 healthcare workers need to be hired, and local authorities are asking the government to approve all regulations more quickly so they can start looking for specialists. To make matters worse, all government processes in Germany take a very long time to be approved, which exacerbates the problems in the labor market.