Residence permit in Germany for wealthy individuals

The conditions and procedure for issuing a residence permit in Germany are established by the Federal Law "On the Stay of Foreigners" (Aufenthaltsgesetz). In addition, as an auxiliary and explanatory tool in cases of migration and stay of foreign citizens in Germany, there are "General regulations to the Federal Law on the Stay of Foreigners" from the Ministry of the Interior. («Allgemeine Verwaltungsvorschriften zum Aufenthaltsgesetz»; Bundesministerium des Inneren).

The easiest way to obtain a residence permit in Germany for wealthy people is to confirm the financial independence of a foreign investor who is interested in a long stay or residence in Germany for himself and family members (spouse, children under the age of majority).

The financial independence or solvency of the investor implies the availability of capital in the amount of 1 million euro and a stable high source of income of about 5.000 euro per month (for each family member). Furthermore, the location of capital or income is irrelevant, they can be located in any country, but they need to be confirmed. In every country, regular income includes bank deposits, profitable real estate, business profits, compensation, and other forms of cash receipts.

An important condition for submitting an application is the availability of own or rented housing in Germany, sufficient in size for all family members, as well as the conclusion of a contract for private medical insurance.

Private medical care is usually provided by wealthy German citizens in order to consult and receive treatment from the best specialists and in the best clinics. Monthly premiums for private insurance start at 400 euros and include all necessary medications.

To obtain a permanent residence permit in Germany, it is necessary, first of all, to issue a temporary residence permit – or in Germany it is called a residence permit – (Aufenthaltserlaubnis) – this is a mandatory factor.

Aufenthaltserlaubnis is issued under approximately the same conditions as a permanent residence permit, only it has a temporary restriction. The action of Aufenthaltserlaubnis applies to all family members. To obtain it, knowledge of the language and permanent residence in the country are not required. Initially issued for one year, a mandatory option to extend twice for two years. So, in total, after five years on the basis of Aufenthaltserlaubnis, the applicant can apply for a permanent residence permit.

CEO and Expert of INTECO Real Estate agency:

«Based on our experience, we can say that there are no difficulties in the presence of Aufenthaltserlaubnis in the future to issue a permanent residence for the investor and his family. Of course, it is very important that all parameters continue to meet the requirements»

Permanent residence permit (Niederlassungserlaubnis) – gives an indefinite right to stay throughout Germany and in the Schengen area, and also allows unlimited labor or business activity throughout Germany. German language proficiency is required to obtain a permanent residency permit. The main difference between Niederlassungserlaubnis and citizenship is only in the absence of the right to vote.

To obtain German citizenship (German: Staatsangehörigkeit), you must meet the following requirements:

 

 

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