The conditions and procedure for issuing residence permits in Germany are established by the Federal Law on the Stay of Foreigners (Aufenthaltsgesetz). In addition, the “General Provisions for the Federal Law on the Stay of Foreigners” from the Ministry of the Interior (“Allgemeine Verwaltungsvorschriften zum Aufenthaltsgesetz”; Bundesministerium des Inneren) act as an auxiliary and explanatory tool in cases of migration and the stay of foreign citizens in Germany.
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 (his wife, children under the age of majority).
Financial independence or investor solvency implies the presence of capital in the amount of 1 million Euros and a stable high source of income of about 5 thousand Euros per month (for each family member). Moreover, the location of capital or income does not matter, they can be in any country, but they need to be confirmed. Bank deposits, profitable real estate, business profits, remuneration, and other types of receipts in any country are taken as regular income.
An important condition for applying is the availability of private or rented housing in Germany, sufficient in area for all family members, as well as the conclusion of a contract for private medical insurance.
Private medical services are usually issued by wealthy citizens of Germany to consult and receive treatment from the best specialists and in the best clinics. Private insurance costs from 400 Euro per month, including all necessary medicines.
To obtain a permanent residence permit in Germany, it is necessary, first of all, to apply for a temporary residence permit – or in Germany it is called a residence permit – (Aufenthaltserlaubnis) – this is a mandatory factor.
Aufenthaltserlaubnis is issued on approximately the same terms, as a permanent residence permit, only has a time limit. Aufenthaltserlaubnis applies to all family members. To obtain it does not require knowledge of the language and a permanent stay in the country. Initially issued for one year, a mandatory option to renew two times 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
«Based on our experience, we can say, that there is no difficulty in having an Aufenthalterlaubnis in the future to arrange 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 unlimited right to stay throughout Germany and in the Schengen area, and also allows to work or to have business activities throughout Germany. To obtain a permanent residence permit, knowledge of the German language is already required. The main difference between Niederlassungserlaubnis from citizenship is only in the absence of suffrage.
Conditions To apply for German citizenship (German: Staatsangehörigkeit)
- residence in Germany based on Niederlassungserlaubnis for at least 8 years
- German language skills at level B1
- preservation of financial solvency of the investor or proof of employment
- renunciation of another citizenship (for countries outside the EU)
- pass the “test for entry into citizenship” on knowledge of German culture
- not have a criminal record.