BERLIN - Countries like United Arab Emirates and Portugal have launched the Golden Visa for foreigners to allow them more liberty in terms of residence but another country which provides a substitute is Germany.
Though the Golden Visa scheme does not exist in Germany as such, another alternate is Visa for Self Employment which allows investors to start a business in the country and pave the path to long term residency in the country.
Benefits of Visa for self employment
The most important benefit of this visa type is that visa or residence permit for self-employment is initially issued for up to three years but if your business idea is successful and you are able to cover the costs of living for yourself and your family, the residence permit can be extended.
With a visa for self-employment, you can execute your start-up project in Germany. Different conditions apply based on whether you are planning on setting up a business or working as a freelancer.
Let's explore different options you can opt under this visa category.
Setting up a business
You can secure a residence permit for self-employment if you meet the following conditions:
If you are starting your own company, you can apply for a settlement permit after three years. The settlement permit has permanent validity and allows its holders to exercise gainful employment. People applying for a settlement permit have to satisfy specific requirements which are outlined in the Residence Act.
Freelancers
If you would like to work as a freelancer in one of the liberal professions, you are able to obtain a residence permit for self-employment but you must meet the following requirements:
How to Apply
After having checked the eligibility in terms of age and whether you are financially sound, one needs to make an appointment at the German embassy and prepare the documents like passport, business plan, proof of financial means and visa application etc. The possible waiting times can be checked from the website of the embassies.
The next step is to bring along all the required documents and apply at the embassy. The visa processing time can last from few days to several weeks. If you are given a visa, you are ready to go to Germany.
After landing in Germany the final step is to make appointment with foreigners authority and apply for residence permit for self-employment. The foreigners authority would inform about the required documents. It is to be mentioned that the residence permit must be applied for before the entry visa expires.
Fee
The fee for applying for visa in the country of residence is EUR 75 while the handling fee for residence permit could be up to EUR 100.
Daily Pakistan Global Web Desk
KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on March 24, 2023 (Friday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency | Symbol | Buying | Selling |
US Dollar | USD | 283.2 | 286 |
Euro | EUR | 302.5 | 305.5 |
UK Pound Sterling | GBP | 343.5 | 347 |
U.A.E Dirham | AED | 77.2 | 78 |
Saudi Riyal | SAR | 75.4 | 76.2 |
Australian Dollar | AUD | 187 | 189.4 |
Bahrain Dinar | BHD | 749.55 | 757.55 |
Canadian Dollar | CAD | 205 | 207.2 |
China Yuan | CNY | 40.91 | 41.31 |
Danish Krone | DKK | 40.77 | 41.17 |
Hong Kong Dollar | HKD | 35.92 | 36.27 |
Indian Rupee | INR | 3.41 | 3.52 |
Japanese Yen | JPY | 2.06 | 2.11 |
Kuwaiti Dinar | KWD | 919.22 | 928.22 |
Malaysian Ringgit | MYR | 62.85 | 63.45 |
New Zealand Dollar | NZD | 176.66 | 178.66 |
Norwegians Krone | NOK | 26.33 | 26.63 |
Omani Riyal | OMR | 731.97 | 739.97 |
Qatari Riyal | QAR | 77.43 | 78.13 |
Singapore Dollar | SGD | 208 | 210 |
Swedish Korona | SEK | 26.5 | 26.8 |
Swiss Franc | CHF | 305.12 | 307.62 |
Thai Bhat | THB | 8.19 | 8.34 |
KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 205,500 on Friday. The price of 10 grams of 24k gold was recorded at Rs174,730.
Likewise, 10 grams of 22k gold were being traded for Rs163,624 while a single tola of 22-karat gold was being sold at Rs 190,880.
Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.
City | Gold | Silver |
Lahore | PKR 205,500 | PKR 2,350 |
Karachi | PKR 205,500 | PKR 2,350 |
Islamabad | PKR 205,500 | PKR 2,350 |
Peshawar | PKR 205,500 | PKR 2,350 |
Quetta | PKR 205,500 | PKR 2,350 |
Sialkot | PKR 205,500 | PKR 2,350 |
Attock | PKR 205,500 | PKR 2,350 |
Gujranwala | PKR 205,500 | PKR 2,350 |
Jehlum | PKR 205,500 | PKR 2,350 |
Multan | PKR 205,500 | PKR 2,350 |
Bahawalpur | PKR 205,500 | PKR 2,350 |
Gujrat | PKR 205,500 | PKR 2,350 |
Nawabshah | PKR 205,500 | PKR 2,350 |
Chakwal | PKR 205,500 | PKR 2,350 |
Hyderabad | PKR 205,500 | PKR 2,350 |
Nowshehra | PKR 205,500 | PKR 2,350 |
Sargodha | PKR 205,500 | PKR 2,350 |
Faisalabad | PKR 205,500 | PKR 2,350 |
Mirpur | PKR 205,500 | PKR 2,350 |
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