- Even if we receive only 1 applicant, we will source a project that will fit the investment size and will be subject to the approval of the applicant(s).
- The management company (GmbH) will be taxed in Germany under German tax rules. The share in the Offene Handelsgesellschaft (OHG) is personal and will be taxed according to the double tax agreement between Germany and the respective home country as long as the applicant’s primary residence is outside of Germany.
- Applicants pay a refundable deposit in order to reserve a unit in the residential development and confirm their allocation into the development fund. This initiates the application process for the “pre-authorization”. In the event the “pre-authorization” is rejected, the deposit is 100% refunded to the applicant.
- Once the “pre-authorization” is issued, the granting of the Temporary Residence can be considered certain. At that point the total investment amount and associated fees have to be paid to an applicant’s Trust Account managed by Brockhaus und Kollegen.
- . The initial deposit paid shall be deducted from the overall balance due.
- The purchase of the flat is paid in full by the applicant. Once the flat is ready, applicant may approach banks for financing. For the development fund, financing is possible on the Real Estate GmbH. Given the value of the investment, 50% financing is very realistic.
- Yes, already with the Temporary Residence, the applicant can enter any Schengen country directly and travel within the Schengen countries for up to 3 consecutive months.
- On the basis of the initial application in a German Consulate or Embassy in home country a “pre-authorization” („Vorabgenehmigung“) is issued by Municipal Immigration Authority “Ausländerbehörde“. From that point the granting of the Residence Status is considered certain. Legal Basis: § 31 Abs. 3 S.1 2. Alternative AufenthV
- Yes, it can be considered certain as the criteria that have to be met are the same as for the granting of the Temporary Residence. The applicant has to be self-employed, be able to take care of himself and his family members in Germany and all applicants need to have health insurance. So as long as no criminal offenses are committed and the applicants do not apply for German social aid, the Permanent Residence Permit will be granted.
- Yes it is valid all over Germany and allows for borderless traveling in all Schengen countries Legal Basis: § 12 Abs. 1 AufenthG. (Foreigners’ law)
- One spouse, children (until the end of their 18th year) and parents who need care can be included in the application. Legal Basis: § 29 AufenthG. (Foreigners’ law)
- After a total of 5 years of Residence, 3 years of Temporary Residence plus 2 years of Permanent Residence, an application for a German passport can be made earliest. To apply for a German passport additional requirements has to be fulfilled (individual situation check & German language skills are a must)
- The flat fulfils the requirement of having a German address for the 3 years of Temporary Residence, § 2 Abs. 4 AufenthG. During the construction period, applicants will be required to rent a different flat to fulfil this requirement. Once the development is complete, the flat purchased can be used as the residential address for the remaining period of the temporary residence.
Does the applicant have to stay in Germany during the 4-6 weeks until Temporary Residence is issued?
- No, the applicant and his family members, who have applied for the Residence just have to travel to Germany to do the application in person. After that they can leave and receive the Temporary Residence card by mail.
- Yes, however it will make the process more time consuming. So the simultaneous application is recommended
- Ern Gruppe will manage the investments, including the flat. Third party facility management companies may be appointed.
What rights do the shareholders of the OHG have and what rights do the shareholders of the GmbH have?
- The shareholders of the OHG together own 100% of the GmbH and therefore have full voting rights over the companies and assets acquired by the structure.