The German Entrepreneurial Residency Program (GEPR) has been introduced to the city of Solingen, an area north of the Rhine with the cities of Dusseldorf and Cologne just thirty minutes away.
For centuries this beautiful city was famous for the manufacture of knives, cutlery and more, but most recently has been a main hub for several thousand businesses and enterprises.
Keen to develop its infrastructure and business, the city is taking advantage of the GEPR, by inviting foreign direct investment through start-ups and existing company expansion.
The area has more to offer than just great business potential, with its excellent culture, education, healthcare and shopping.
The programme will initially see the development of 16 apartments in the centre by the summer of 2021, alongside which a modern commercial campus including offices, technology labs, and residential space will evolve.
By meeting the entry requirements of the scheme, an investor and their immediate family, will be granted a 3 year temporary residence card, which may later be converted to a 4 year permanent residency, and eventually citizenship.
A purchase of one of the newly developed apartments in Solingen with a purchase price of at least 250,000 EUR.
Other properties can also be purchased in Germany.
A minimum entrepreneurial investment of 100,000 EUR into a regional development fund (OHG) managed by Ern Gruppe.
The investment must have a positive effect and be in the local interest.
No additional contributions are required.
Ownership of the residential property and German health insurance must be retained for three years until Permanent Residency has been secured, as well as the continuation of the entrepreneurial activity for the specified time.
Note - After 8 years of residency in Germany an application may be made for citizenship based on the standard criteria and requirements of the country.