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Golden Visa in Germany: Eligibility, Requirements, Online Application Process & Documents
Germany is one of the most highly developed countries in the world. Internship and work opportunities in the country have made it a preferred destination for international students for quite some time now.
Germany's structure and stability have attracted the attention of investors. The well-developed infrastructure is an added advantage. Though there is no Golden Visa in Germany, there's an equivalent investment program which offers German citizenship in less than 6 years.
Read on to know important details.
What Is a Golden Visa in Germany?
If an individual purchases a house or makes investments in a foreign country, he/she will be eligible for a Golden Visa. It is a residence permit that leads to permanent citizenship.
Germany doesn't have a golden visa scheme. It doesn't have an exclusive citizenship by investment program. However, it has a residency by investment program. Many people refer to this Germany Investment Visa as the Golden Visa in Germany.
Suppose an investor wishes to start a business in Germany, has a business plan, or makes specified investments. In that case, he/she will become eligible to apply for an equivalent permit of the Golden Visa in the country under a Germany Golden Visa Programme.
What Are the Eligibility Criteria for Germany Golden Visa from India?
The eligibility requirements for qualifying for a Germany Investment Visa are as follows:
- The applicant needs to be of a minimum of 18 years
- He/she shouldn't have any criminal record
- The applicant for the visa programme needs to have a proper business plan and adequate experience for starting a new venture in Germany
- The business establishment in Germany needs to hire minimum 5 people
- The applicant needs to raise the requisite cash via loan or equity financing
- He/she needs to confirm that the business will have a positive effect on the German economy
What Are the Investment Requirements to Obtain a Golden Visa in Germany?
If you wish to invest in Germany and ultimately gain permanent citizenship, you must set up a business there. Moreover, the venture needs to create employment opportunities for a minimum of five people in Germany.
Given below is a list of the important sectors where people mostly invest in:
- Shipping and maritime
- Automotive and Aviation
- Chemicals and Materials
- Electronics and Micro-technology
- Financial Services, including banking and insurance sectors
- Digital Economy
- IT Industry (data and consulting, software)
- Logistics
- Consumer Industries
- Life Sciences
- Green Energy
- Demographic Change
- Machinery and Equipment
How to Apply for a Golden Visa in Germany ?
Given below are the steps to apply for an investment visa in Germany:
Step 1: Come Up With a Business Plan
You need to come up with a concrete business plan to illustrate the impact your business will have on the German economy. The German Chamber of Commerce and Industry will examine the business plan.
Step 2: Visit German Embassy for Application of Self-Employment Visa
After the business plan receives approval, you must visit your country's German embassy. Start the application procedure for the self-employment visa. This visa will permit you to visit Germany and start a business.
Step 3: You'll Get Your Temporary Residence Permit Once You Visit Germany
When you arrive in Germany, you will receive a temporary residence permit. The validity period will be 3 years, after which it can be renewed. This residence permit will allow you to live and run a business in Germany.
Step 4: You'll Receive Permanent Residentship
If you have lived in Germany continuously for 3 years, you will automatically become eligible for permanent residentship.
Step 5: Finally, Apply for Citizenship
If you have lived in Germany for 8 years, you can apply for permanent citizenship. However, if you have become well versed in German language and have well internalised German culture, you can apply for citizenship after continuously living in the country for 6 years.
What Are the Documents Required to Apply for an Investor Visa in Germany?
The list of the required documents for a German Investor Visa is as follows:
- Proof of employment
- Evidence of having a clean criminal record
- Proof of financial resources for the requisite investment
- Valid Passport
- Passport size photograph
- Resume detailing academic and professional qualifications, testimonials and references
- Birth and marriage certificate
- Business plan
- Complete and signed application form
- Proof of application fee payment
- Evidence of residency in Germany – proof of homeownership/rental agreement
- Health Insurance Certificate issued by a German insurer
What Is the Cost for a Golden Visa in Germany?
The officials haven't specified the minimum investment amount that would qualify a person for an Investment Visa in Germany. However, experts have recommended an investment of at least €360,000 as this proves that the investor can meet the investment criteria.
Why Is a Golden Visa in Germany Required?
The Golden visa in Germany allows foreign investors, entrepreneurs, and family members to live and work in the country freely. They also become eligible to run a business on the ground, given they have made the necessary investment. More benefits are mentioned below.
What are the Benefits of a Germany Golden Visa?
The benefits of having a Golden Visa in Germany are enumerated below:
- Germany Investment Visa comes with studying and working rights in Germany
- If one avails of this visa, one can get the benefit of visa-free travel across 145 countries throughout the world
- This particular residence by investment programme leads to permanent residence after 3 years for the main investor and 5 years for the family members
- One can also become a permanent citizen after residing in Germany for 8 years with this visa
- Investments in Germany's strong economy will lead to easy access to the open market of European Union
What Is the Validity Period of a Golden Visa in Germany?
If the business plan proposal receives approval from German authorities, you will become eligible for a German self-employment visa. This visa will permit you to enter and live in Germany and establish a new venture.
This particular visa comes with 3 years of temporary residence permit. After completion of 3 years, you can apply for a German settlement permit, which permits you to live in Germany permanently.
This blog has enumerated the important details related to the permit equivalent to a Golden Visa in Germany. The country is an attractive destination for students and investors alike. If a wealthy person decides to establish a business and generate employment in the country, he/she must create a proper business plan. After approval, the investor can enter, live and run his venture in Germany.
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