Germany’s “Golden Visa” Equivalent Is Among Most Favourite Residency Programs for Wealthy Internationals
Through the self-employed visa, internationals who make a specific amount of money invested will be subject to the path to permanent residency in Germany and thus acquire citizenship if they wish so, AtoZSerwisPlus.com reports.
The Golden Visa Program is among the favourite programs of wealthy internationals from other countries who plan to acquire residency in European countries that offer such schemes.
Even though the Golden Visa does not officially exist in Germany, wealthy internationals can acquire residency and even citizenship through the self-employment scheme.
According to a report provided by the Nomad Embassy, the application process can be completed in six months, depending on where the applicants choose to apply, as well as other factors.
Regarding investments, applicants can choose real estate, government bonds, donations, or opening a business.
Among the main benefits of Germany’s self-employed visa is that permanent, as permanent residents in Germany, wealthy foreign investors are eligible to travel visa-free to all Schengen Zone countries.
In addition, all applicants choosing to apply for the self-employed visa in Germany are eligible to bring their spouses and dependents with them. It has been clarified that dependents should be either under the age of 18 or younger than 24 in case they are still financially dependent while attending university.
Acquiring residency in Germany also means that residents will be eligible to benefit from the healthcare and education system.
After living in Germany for a period of eight years, foreign nationals will then be eligible to apply for citizenship through naturalisation.
There are requirements that applicants need to follow in order to benefit from such a visa, including being at least 18 years of age, having a clean criminal record, being a third-country national of the European Union or the European Economic Area, having a solid business plan, and hire at least five German citizens for their business.
Up to this point, several European countries have attempted to attract wealthy internationals through EU residency through Investment schemes. Even though they have often been criticised for being involved in many unlawful affairs, Portugal, Greece, Spain, and Montenegro remain among this kind’s favourite programs.
