Sunday, May 28, 2023

Three things to consider when setting up your business in Germany

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Shreya Christina
Shreya has been with for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

Founder and lawyer at Law firm of Saeed Jaberispecialized in corporate immigration, helping clients set up businesses in Germany.

Germany has the largest economy in Europe and it is the fourth largest in the world. Partly because of this, the country has become an attractive destination for the migration or expansion of both established and young companies. Germany promises a high quality of life, a healthy work-life balance, a robust health care system and encouraging state benefits.

1. Entrepreneur Visa

In Germany, there is a new form of immigration that is becoming increasingly popular: corporate immigration. Germany is a great location to start a new business for anyone with their sights set on entrepreneurship. The core of the German economy is supported by a large number of small and medium-sized enterprises (SMEs).

Immigrating to Germany for business purposes naturally brings its own hurdles and bureaucratic procedures. One of the first steps to take is choosing a legal form for your new business, after which you will need a business plan, the ability to demonstrate a certain amount of capital and much more. Germany offers different types of visas for entrepreneurs and entrepreneurs, including self-employment (Residence Act), golden visas, digital nomad visas and international start-ups. There are many nuances to each, so consulting a specialist immigration attorney can go a long way in simplifying this process.

2. A skilled workforce

There are plenty of skilled workers and university degree holders here in Germany, and the government is actively trying to attract more. Germany was able to keep unemployment fairly low through things like: government subsidiesand I believe this has ultimately led to a happier and healthier workforce.

Specific areas such as IT, engineering and health are in demand, so your company must be prepared to offer truly appropriate compensation packages to attract relevant talent. But as a business leader in Germany, you have the luxury of diving into a great talent pool and hiring the best people to grow your business. Of course, knowing German goes a long way to really tapping into the potential in the job market.

3. Family First Culture

Germany cares about family and offers many benefits. This includes subsidized childcare costs to support families with a monthly payment for each child (€204 for the first child, €204 for the second child, €210 for the third child and €235 for the fourth child), known as child benefit . Parents are encouraged to take time off after the birth of their child and the government pays elterngeld (a parental contribution).

I have a young child and both my wife and I are invested in our professional lives; it was a blessing to stay in germany, and really know we are not alone in this. The country and its people take both mental health and personal family time very seriously – as it should be taken.

Whether it’s people, government support or culture (or all), Germany can be the land of opportunity for your business venture. The country is growing and the companies are growing with it. So pack your bags, brush up on your German and get ready for some currywurst and beer. Business Council is the leading growth and networking organization for entrepreneurs and leaders. Am I eligible?

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