Opening a business while receiving BAföG

[Avgiz 0]

Hey everyone,

 

I am a student here who receives a monthly BAföG allowance. Recipients of such are allowed to hold assets of up to a value of 15.000€.

I thought about opening a business and growing its retained earnings account up to approx of this limit. It shall be considered an "asset" that will be owned 100% by me.

 

Since every year I maximize my side earnings potential to the sum of 450€ x 12m, I will not be able to withdraw any made profits until having my studies completed and that's fine.

 

My question to you guys: which legal form allows me to do that (if any)? Basically, I am looking for something simple and cheap, that will enable me to separate my income from that of my business.

Bonus question: Will I be able to withdraw funds from the business back to my account if I can deduct them with the initial invested capital into the business without it impacting my BAföG payments?

 

Thank you! Any input will be appreciated!

 

[Austin muller 1]

that's possible