Uglobal Immigration Magazine Volume 2, Issue 1 | Page 25

UGLOBAL.COM “ The main purpose of the application for a resident permit must be to live in Germany in the owned property on German territory and to have an annual income of minimum 42,000 euros net. ” 23 6 offered to acquire a real estate in Germany in order to receive a residence title, according to § 7 Abs. 1 S. 3 AufentG. However, only the acquisition of real estate alone does not automatically residence title not obtained at the same time. The prerequisite is that the applicant is wealthy enough and has enough assets to secure his or her livelihood. THE GERMAN INVESTOR VISA OPTION Germany also has a different option for the investors who don’t want to purchase real estate but want to earn a resident permit through self employment activities in the country. Many choose to incorporate or start companies and receive the investor visa according to the § 21 Residence Act. Under § 21 AufenthG, non-EU nationals can obtain a residence permit for starting a business. There is no minimum investment amount, however the business need to fulfill the needs of Germany by having a beneficial economic impact and the start-up costs need to financially be covered by the investor’s own capital or a bank loan. To ensure the sustainability of the business, authorities are also considering the viability of the business plan, the investor’s relevant business experience, the amount being invested in Germany, the impact of the business project on employment, and how the company will contribute to innovation and research in the country. AYKUT ELSEVEN Aykut Elseven is a partner and attorney and Schlun & Elseven. He advises companies and private individuals on business immigration to Germany. He studied law at the University of Bonn and completed his second state examination at the Ministry of Justice NRW in Düsseldorf. Today, he advises the legal departments of renowned management consultancies. Sources / 1 https://www.test.de/Immobilienkauf-Wo-das-Investment-jetzt-lohnt-4865683-0/ 2 (§ 7 (1) sentence 3 AufenthG) 3 (VG Freiburg, judgment of 18.07.2018, 1 K 1083/17) 4 (VG Freiburg, judgment of 18.07.2018, 1 K 1083/17) 5 (VG Stuttgart, decision of 10.06.2010 - 2 K 1260/10) 6 (VG Freiburg, judgment of 18.07.2018, 1 K 1083/17)