Are you interested in setting up a business in Germany? If so, you will need a special residence permit. In this article from Wise Business Group, we provide you with information about self-employment visas in Germany. We will also highlight the requirements for obtaining a self-employment residence permit in Germany.
One of the questions we often face is which businesses in Germany can quickly become profitable. Business profitability depends on many factors. In this article from Wise Business Group, we mention some examples of profitable businesses in Germany and describe the factors affecting the profitability of businesses.
Due to the freedom of trade in Germany, anyone can be self-employed there. Those who want to start their own business by setting up a beauty salon or cosmetics store in Germany must meet certain requirements. In the article from Wise Business Group, we mention the necessary points to consider for successfully opening a beauty salon in Germany.
Company formation in Germany at a glance
To establish and register a company in Germany, you must meet various requirements:
• Specifying the business concept
• Determining the legal structure of the company
• Selecting a unique trade name
• Having a registered office in Germany
• Deposit of share capital
• Compilation of the company's articles of association
Then, you have to go through different steps such as choosing the appropriate legal form, preparing a business plan, notarizing documents, registering a business, registering for taxes, obtaining permits, opening a business bank account, and obtaining various insurances in Germany.
Non-residents in Germany may need to appoint an authorized representative, obtain a visa or residence permit, and open a business bank account at banks that provide services to non-resident clients.
The situation is more complicated for non-EU nationals. They must meet particular requirements for obtaining a visa, residence, and work permit,choosing a legal form, and appointing an authorized representative. Fluency in German is also beneficial for them.