Can a foreigner buy a home in Munich?

Generally, buying a home in Munich is possible for foreigners and there are no restrictions. You can buy real estate in Germany even if you do not have a German residence permit, but buying process does not automatically entitle you to such a permit.

How much deposit do I need to buy a home in Munich?

You will need to make a significant deposit before you buy property in Munich . A minimum deposit of 20% is standard, and in some cases, emigrants are requested to deposit in the amount of 30–40%, since they are considered as a higher risk.

Is buying home in Munich a good investment?

Yes, since Germany attracts a large number of foreign and domestic investors who are looking for high-quality and highly profitable real estate. Houses generate income of 3–4% per annum, and in the north of the country — up to 5–6%. For some time, interest rates will remain low, which is good for those who want to buy and keep property in key locations.

Are there property taxes in Germany?

Yes. The tax base is the assessed value of the property. The basic property tax rate in Germany is 0.35%, multiplied by a municipal factor. The effective tax rate is usually between 1.5% and 2.3%.

How can I get German citizenship?

A person can become a German citizen in one of three ways: by birth, by adoption as a minor, or by naturalization. A person may be born a German citizen through descent from his parents, or through place of birth.

Can I get a German passport if I was born there?

If you do not have German parents, but are born within the borders of Germany, you qualify for citizenship by birth or by right of soil.

How can I get residency in Germany?

To apply to become a permanent resident in Germany, you must fulfill the following conditions: five uninterrupted years of residence in Germany with a residence permit, five years of secure livelihood, including health insurance and social insurance (pension) contributions.

How long do you have to live in Germany to become a citizen?

You must have lived in Germany on a residence permit for at least 8 years or you must have lived in Germany on a residence permit for 7 years and attended an integration course (or 6 years on special integration circumstances).

How can I get permanent residence in Germany?

Most foreign residents can apply for a permanent residence permit in Germany — a ”settlement permit“ — after five years. Some people may get it sooner. For example, if you are a non-EU national married to a German citizen, you could file your application for a settlement permit after three years.

How many countries can German passport enter without visa?

German citizens can travel to 188 world countries without a visa, or with a visa-on-arrival, as of today. The country has risen to the second place, up from the third place it held with France in the last Henley Index update.

How much does German citizenship cost?

You need to pay the naturalization fees. Application form — 255 euros for adults and 51 Euros for children under 16 years old. Test for naturalization/citizenship — 25 euros.