FC Koln have signed Meyer on a deal until the end of the season.
Meyer's contract at Selhurst Park was terminated earlier in January.
The Bundesliga side revealed Meyer has taken a significant cut in pay to join them on a short-term contract.
“For me the perspective was crucial to be able to play. I want to use the chance at FC to present myself at the top level and to help keep the club in class,“ Meyer said.