Conditions for Business Immigration
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, i.e. that there is an economic interest in and/or a regional need for the business and that financing has been secured. Entrepreneurs have to address 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 economy. If the applicant has exceeded the 45th year of his life, he will be required to prove adequate pension provisions have been taken.
Minimum investment sums or a certain number of jobs do not have to be proven. What is decisive, however, is a good business idea and a concept that proves to be viable and financially viable when the market situation is analysed. A good qualification of the entrepreneur, positive effects on the labour market and contributions to innovation and research are beneficial.
Communication with authorities
The Foreigners Authority involves the local economic authorities such as the Chamber of Commerce and Industry or the Ministry of Economics in assessing the business plan. On the basis of the documents submitted, these authorities draw up an expert opinion as to whether there is an economic interest in setting up such an enterprise. Unfortunately, this examination procedure is often lengthy. It is advisable to prepare a business and financial plan thoroughly.
The residence permit will be issued for a maximum of three years, after which a settlement permit can be issued if the self-employment has proven successful and the livelihood of all your legal dependants is assured.