Difference between a residence permit and a visa
The difference between a residence permit and a business or guest visa is that a visa only permits a short-term stay in the country. Within a period of six months, the time spent in the country must not exceed three months. In some cases, the visa is valid for up to five years, but during those five years the foreigner must leave Germany every three months for at least three months.
A residence permit is granted for a period of one year or more and allows permanent residence in Germany. Short trips abroad of up to six months are permitted.
As for foreign investors who own residential property in Germany, they can only count on a visa. German legislation deliberately excluded the possibility of obtaining a residence permit by purchasing residential property in Germany.
Option for foreign buyers of real estate in Germany
For foreign buyers of real estate in Germany, there is one way to obtain a residence permit. This is so-called business immigration, which involves obtaining the coveted residence permit through a permit for entrepreneurial activity. German legislation has regulated this issue quite clearly.
A residence permit is issued to an entrepreneur when three conditions are met:
– positive impact on the German economy of the investor's entrepreneurial activity;
– the investor has a special regional need or economic interest in the entrepreneurial activity;
– securing financing for the entrepreneurial activity through a bank guarantee or own capital.
The first two points are generally fulfilled automatically if the investor decides to buy commercial real estate in Germany for at least 500,000 euros and creates five or more jobs. That is, the path to obtaining the coveted residence permit begins for the owner of commercial real estate with the creation of a legal entity. The acquired property is registered in the name of the organization and at least five jobs are created.
If the foreigners' authority makes a positive decision, the foreign investor receives the coveted residence permit for up to three years, and it can also be extended subsequently.
_