A foreigner may be granted a residence permit for the purpose of self-employment if
1. an economic interest or a regional need applies,
2. the activity is expected to have positive effects on the economy and
3. personal capital on the part of the foreigner or a loan undertaking is available to realise the business idea.
Assessment of the prerequisites shall focus in particular on the viability of the business idea forming the basis of the application, the foreigner's entrepreneurial experience, the level of capital investment, the effects on the employment and training situation and the contribution towards innovation and research.
Foreigners aged over 45 should be issued with a residence permit only if they possess adequate provision for old age. Health insurance is needed too.
Usually the foreigner establishes a corporation (german "GmbH") for this purpose, but it is not mandatory.
One has to aply by presenting a business plan, capital requirements, liquidity plan, resumee, etc.
Knowledge of the german language is not required but very helpful.
My lawfirm kann offer an integral solution: we arrange for the required paperwork, the verification from an accountant, notary that can set up the corporation in english, health insurance, bank account, etc.
Please contact us.