A residence permit in Germany for wealthy foreigners does not imply investment in the local economy or the purchase of real estate. All that is required is to provide evidence of regular passive income and impressive capital. In Germany there is no separate program describing the specific conditions for obtaining this type of residence permit. But there is some legal practice, which allows us to talk about numbers and requirements. Key advantages for the applicant in this program: free education for children, the opportunity to obtain permanent residence permit and citizenship, the right to come to Germany at any time and no minimum days of stay in the country.
The official website of the program
Germany does not have a specific law that regulates the issuance of residence permits to foreign investors or property buyers. But paragraph 7 of the Foreigners Act (§ 7 AufenthaltsG) states that the applicant has the right to obtain a German residence permit on “special” grounds, which include financial solvency.
An important point. You don't need to invest money anywhere: you don't need to open a business, make investments in the economy or real estate. The main thing is to demonstrate a decent amount in the account (or in the form of property), legal income and a desire to live in Germany, observing its laws.
There are no exact figures in the federal law that determine the exact amount of the capital for the applicant - it all depends on the specific department. But, based on practical experience, the capital must be at least € 1 million plus regular monthly (passive) income of € 6-7 thousand per family (from € 5 thousand if there is one applicant).
The first residence permit is issued for one or two years, depending on the region and circumstances. Then the card can be extended on the spot for another two years. If no violations of German law have been recorded for the applicant in the previous period, the guarantee that the application for an extension will be approved is almost 100%. The right to apply for permanent residence appears after five years, the right for citizenship - after 7 years.
Germany had issued 15,000 residence permits on “special” grounds, which had met paragraph 7 in the first six months of 2019.
The applicant must demonstrate sufficient capital to be considered wealthy. According to the experience of lawyers, it is worth focusing on an amount of €1 million (stocks, real estate and other assets) and a monthly income of €5,000.
The source of income must be legal, believable and clearly stated in the application, and the country of receipt of the money is not important. Additional assets in Germany could be a plus.
You must have residential real estate in Germany. And ownership is not necessary - a long-term lease agreement is sufficient.
However, the ownership of real estate can be considered by the immigration office as an advantage.
Adult citizens of any country can apply for a residence permit for financially independent persons. Knowledge of German is not required. Also, there is no need to prove business or family ties with the country.
Together with the main applicant, a spouse and children under legal age can obtain a residence permit - for the same period and on the same conditions as the applicant.
When applying for a national visa and residence permit, state fees and small administrative fees are charged. The total amount will be about €300-400 per person.
At the initial registration of a residence permit, legal services will cost around €20-40 thousand.
When renewing the permit, this cost item is reduced by almost 20 times, and the process itself is reduced to the submission of a reduced package of documents.
The applicant must obtain a health insurance policy (from € 1000 per year), as well as purchase or rent a home for a long time.
The applicant has the right to:
The applicant is obliged to: