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Between an aging population and an economy in seemingly perennial stagnation, Germany faces some major challenges. Could a visa aimed at attracting more young, hungry workers be the answer?<\/p>\n
Germany is set to launch an \u201cOpportunity Card<\/a>\u201d just in time for the summer, aimed at young foreign workers hoping either to eventually secure a long-term job or simply work in the country for a while.\u00a0<\/p>\n It will apply to non-EU residents, including U.K. workers.\u00a0<\/p>\n However, the \u201cChancenkarte\u201d is not being marketed as a free-for-all for anyone to enter the country, and is aimed at young professional workers.<\/p>\n The Opportunity Card marks an expansion of Germany\u2019s efforts to entice young talent from outside the EU in search of permanent work, by lowering the barriers to initial entry.\u00a0<\/p>\n Operating on a \u201cpoints system,\u201d applicants can almost guarantee eligibility if they\u2019re qualified teachers, nurses, or engineers who speak English or German. Others who have worked for five years in the \u201clearned professions\u201d like accounting stand a very good chance at entering, too.\u00a0<\/p>\n The visa clearly has an age bias, with Germany making no secret of its hopes of attracting young workers. Applicants can earn two of the requisite six points simply by being under 35.<\/p>\n Once they\u2019re in, the applicants can work up to 20 hours a week while they try to secure longer-term employment through another visa. This type of work is expected to be easier to secure once workers have a base in Germany.<\/p>\n However, the limitation of part-time work\u2014even temporarily\u2013could make it a tough sell for young professionals looking to the country for better opportunities. Under the visa, their earnings are capped at \u20ac1,000 ($1,080) per month.<\/p>\n It may seem like a glorified holiday visa, but German policymakers will hope the Chancenkarte can address two significant issues facing the country.\u00a0<\/p>\n The first is the immediate challenge of kicking Germany\u2019s economy back into life. Its GDP is effectively stagnating after shrinking 0.3% last year, having been hit more than most by Putin\u2019s invasion of Ukraine, which cut it off from its once plentiful supply of cheap Russian oil and gas. Production rates have been declining in Germany for several months as a result.\u00a0<\/p>\n One way to turn things around is addressing the shortfall in workers, with the German Opportunity Card website stating that employers in the country have decried the obstacles to attracting talent.<\/p>\n The second challenge is much longer running and harder to fix: Germany\u2019s aging population.\u00a0<\/p>\n Germany has among the highest old-age dependency<\/a> ratios in Europe. Fertility rates<\/a> also lag several of its peers, threatening an inevitable productivity and fiscal crunch. It\u2019s an issue that has been kicked down the road for generations, but is now coming into focus.\u00a0\u00a0<\/p>\n This week, the International Monetary Fund (IMF) issued a stark warning<\/a> to the country, predicting that its working-age population would fall faster than any other G7 nation over the medium term, with stark consequences for German productivity.<\/p>\n \u201cAn aging population will also adversely affect public finances as tax revenue growth slows and spending on pensions and health care rises,\u201d the organization said in its report.\u00a0<\/p>\n More workers will be needed in areas like healthcare to look after Germany\u2019s older population, while policymakers will also look for young workers in high-productivity sectors to keep its economy rolling.<\/p>\n It is hoped that policies like the Opportunity Card can help bridge that gap and make Germany more attractive in an inevitable talent race with other aging European countries.<\/p>\n \u201cDue to a deficit of skilled workers, Germany would have a shortage of about 16 million workers by 2060\u2014without immigration from abroad,\u201d the official website for the Opportunity Card wrote, citing governmental figures.\u00a0\u00a0<\/p>\n In the short run too, they may also hope those workers can revive Europe\u2019s economic powerhouse.<\/p>\n Germany\u2019s Opportunity Card launches on June 1. Candidates need to fill out an application form<\/a> and attach identification, employment, and language documents as required.<\/p>\n You\u2019ll also need to reach out to a few German companies to prove that you\u2019re genuinely interested in working for them on a part-time basis, but you won\u2019t need an employment contract.<\/p>\n<\/div>\nWhat is Germany\u2019s Opportunity Card?<\/strong><\/h2>\n
Why is the Opportunity Card coming in?<\/strong><\/h2>\n
How to apply for Germany\u2019s Opportunity Card<\/strong><\/h2>\n