[Free Download] A Guide on Company-foundation for Migrants in Germany

What is it about?

An increasing number of founders in the EU have a foreign nationality. In Germany, the rate of foreign founders is 20%. With Toolkit #6 we have summarized important information for foreign founders that you should consider before starting your business.

Toolkit # 6 addresses the challenge and information about the residence permit for foreign founders. It also provides a short start-up guide and practical tips and a list of organizations that you can use to provide valuable information for your business.

Challenges:

  • Language: Language skills are an important resource for planning and implementing your start-up. If your language skills are not enough: Attend a language course. Let a relative, friend, or even an interpreter help you.
  • Advice: Take advantage of information and advice, most of which is free of charge, provided by professional departments or associations especially for migrants. Ask a relative or friend about their experiences.
  • Strengths and Weaknesses: A business plan can be very helpful. Try to use your business strengths and identify your weaknesses as challenges.

A Guide to starting a business for migrants:

  • Spend your time for planning:

Self-employment requires a lot of commitment and willingness. So take your time and don’t rush anything. Don’t start until you are well prepared for your startup.

  • Use existing information:

There is a lot of information on the topic of startup and there are also many public agencies that provide information on the challenges and requirements of starting a business. Get an overview of the public information offers.

  • Prove your qualifications, obtain permits:

You should find out about the required registrations and permits, for example, an undergraduate degree or a permit from the Chamber of Industry and Commerce. Approach the offices and let them support you.

  • Check your qualification:

Did you complete a degree in your home country? This doesn’t automatically mean that you have all the requirements for self-employment. Submit an application for verification and recognition of your professional qualification

  • Self-employment permit:

As a non-EU citizen, you need a special residence permit that allows you to start your own business. 

  • Building Business Relationships: 

It is important that you build good relationships with your customers and business partners.

Who is it for?

This guide is intended for migrants, who need important information to prepare for a business in the EU.

Source:

Bundesministerium für Wirtschaft und Energie, GründerZeiten 10: Existenzgründungen durch Migrantinnen und Migranten, 2020.

The Serie “Step to Step to become an Entrepreneur“ will give you clear, concise information to make smart business decisions. The goal of the series is sharing information, experiences about the dynamic, exciting business community.

If you’d like to read the anothers guide in this series, click on follow links:

Toolkit #4: https://vsne.net/by-citybank-guide-1-so-you-want-to-be-an-entrepreneur/

Toolkit #5: https://vsne.net/free-download-starting-a-business-in-berlin-a-beginners-guide/

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