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Incorporate IT company by a Blue card Holder

Hello Every one 

Hope many young aspirant IT techies working in Germany might have same kind of questions  running in their mind

I am working in Germany since September 2012 on EU blue card Visa. 

I would like to know whether a Blue card holder can incorporate his own IT Company in Germany.

Can I work for my own company?

If I am successful in winning projects, can i go for expansion and employ people?
What is the procedure to be followed for incorporation and initial setup expenses? 

Looking forward suggestions/opinions from forum friends 

RJ 
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