Purchasing Austrian Citizenship: Is It Possible?

Austria is one of the wealthiest countries in Europe, offering a high quality of life, a stable economy, and awe-inspiring natural attractions. It is the only Western European country that offers citizenship by investment without prior residence requirements. Acquiring Austrian citizenship through investment is a lengthy process that can take up to 36 months and requires a substantial financial contribution to the country's economy. The investment must be made actively in the Austrian economy, such as through a joint venture or direct investment in a business, and typically ranges from €800,000 to €10 million. While it is a challenging process, Austrian citizenship offers many benefits, including visa-free travel to approximately 185 destinations and the right to reside and work anywhere in the EU and Switzerland.

No dual citizenship

Austria does not recognize dual citizenship. Its Citizenship Act requires applicants for Austrian citizenship to renounce their previous nationality. However, there is an exception to this rule. If an individual has been granted citizenship under Article 10 (6) of the Citizenship Act, they may not be required to give up their previous citizenship.

Article 10 (6) of the Austrian Citizenship Act allows the government to grant citizenship to foreign nationals as a reward for extraordinary merit. This could include patronage of art societies, donations to charities, or significant economic, athletic, scientific, or cultural contributions to the country. The investment must be active and make an extraordinary contribution to the country, for example, by creating a substantial number of jobs or bringing new technologies to Austria. The level of investment required is typically a minimum of €10 million injected directly into a business or €3 million as a contribution to the government development fund.

The process of obtaining Austrian citizenship can be lengthy and complex. It involves obtaining approval from government authorities and careful preparation of the application. Applicants must provide detailed biographical data, a criminal record certificate, information on previous activities, and recommendations. The entire process can take between 12 and 36 months, and the decision on granting citizenship is made exclusively by the Austrian Government.

It is important to note that the grant of citizenship under Article 10 (6) is at the sole discretion of the Austrian Government. There is no guarantee that an application will be approved, even if all the requirements are met. The process is secretive, and Austria does not publish any list of recently naturalized citizens.

High net worth individuals only

Obtaining Austrian Citizenship as a High Net-Worth Individual

Austria is one of the few countries in Western Europe that offers citizenship by investment, allowing high net-worth individuals and their families to obtain citizenship by making a substantial contribution to the country's economy. This guide will outline the key requirements, benefits, and procedures for acquiring Austrian citizenship as a high net-worth individual.

Requirements for High Net-Worth Individuals

Austria's citizenship by investment program targets high net-worth individuals who are willing and able to make significant investments that bring economic benefits to the country. The investment should be in the form of an active business or a donation to a public project, with qualifying investments typically ranging from €800,000 to €10 million.

To qualify, the investment must actively contribute to the Austrian economy by creating jobs, increasing export deals, or introducing innovative technologies. Passive investments, such as government bonds or real estate, do not qualify. The investment should also demonstrate a significant influence over an entity with a strong economic performance and international reputation.

In addition to the economic contribution, applicants must provide comprehensive documentation, including a solid financial and business background, an impeccable criminal record, and excellent references.

Benefits of Austrian Citizenship

Austrian citizenship comes with a range of benefits, including:

• Visa-free or visa-on-arrival travel to approximately 185 destinations, including the United States, Canada, the European Union, and the Schengen Area.
• The right to reside and work anywhere in the European Union and Switzerland.
• High quality of life, including access to high-quality healthcare and education.
• No requirement to reside in Austria or pay taxes unless you choose it as your primary place of residence.
• A reliable banking system with confidentiality and no strict currency control.
• Business opportunities due to a sustainable economy and state-level support for entrepreneurs.

Procedures and Timeline

Obtaining Austrian citizenship through investment involves several steps and can take between 12 to 36 months, depending on the individual case. Here is an overview of the process:

• Contact a specialized company or advisor, such as Henley & Partners or International Holdings, to guide you through the process and provide up-to-date information on investment options and requirements.
• Perform due diligence checks, including providing detailed biographical data, criminal records, and recommendations.
• Make the economic contribution, guided by legal professionals who will ensure compliance with all investment program requirements.
• Apply for Austrian citizenship by submitting the necessary documentation and undergoing background checks.
• Obtain Austrian citizenship and apply for an EU passport. The decision on granting citizenship is made solely by the Austrian Government, and successful applicants receive full citizenship and can apply for a passport immediately.

It is important to note that the granting of citizenship is at the discretion of the Austrian Government, and there is no guarantee of approval. The process is secretive, and the grant of citizenship is not published or reported to any other country, in line with privacy and official secrets provisions.

Active business investment

Austria is one of the few Western European countries that offer citizenship by investment. The country does not offer a passive investment route to citizenship, but rather requires foreign applicants to invest actively in the Austrian economy. This means that applicants must invest in a way that contributes to the economy and creates jobs.

The Austrian Citizenship Act requires applicants to invest in the form of a joint venture or direct investment in a business that creates jobs or generates new export sales. The investment must be significant and substantial, with a minimum investment of €10 million if injected directly into a business. This is a demanding process and there is no guarantee of success.

The active business investment route requires applicants to have a strong business background and provide detailed business information. The investment must be in the form of a joint venture or direct investment in a firm, and it must have a notable influence on the entity. The entity should demonstrate strong economic performance and a substantial number of full-time jobs should be created from the investment.

The active business investment route is a lengthy process, with processing times of around 2-3 years. The approval process requires government authorisation at multiple levels, and the granting of citizenship is at the sole discretion of the Austrian government.

It is important to note that Austria does not recognise dual citizenship. Applicants will be required to abandon their current citizenship and renounce their foreign citizenship if they claim Austrian citizenship.

No minimum investment amount

Austria is one of the few European countries that offer citizenship by investment. This means that foreign nationals can be granted citizenship if they make a substantial contribution to the Austrian economy. This can be done through an active business investment or a donation to a public project.

There is no minimum investment amount required for Austrian citizenship by investment. However, it is important to note that only significant contributions that actively benefit the economy will be considered. Passive investments such as government bonds, financial instruments, or real estate do not qualify. The investment should create jobs, increase export deals, or introduce innovative technologies to Austria.

Qualifying investments typically range from €800,000 to €10 million. This can be in the form of a joint venture or direct investment in a business. It is important to note that the investment must be approved by the relevant ministries before citizenship application. The entire process can take between 12 to 36 months, and the decision on granting citizenship is made exclusively by the Austrian Government.

In addition to the investment, applicants must also provide comprehensive documentation, including a valid passport, proof of contribution, health insurance, a clean criminal record, a comprehensive CV, business background information, and impeccable references. They must also demonstrate sufficient knowledge of the German language, the democratic system, and the history of Austria.

Austrian citizenship offers many benefits, including the right to live and work in Austria and anywhere in the European Union, as well as visa-free or visa-on-arrival access to approximately 185 destinations worldwide. It is important to note that Austria does not recognize dual citizenship, so applicants may need to renounce their previous nationality.

Due diligence checks

Biographical Data and Background Information

Applicants must provide detailed biographical data, including their personal and business background. This involves submitting documents such as a comprehensive CV, business background information, and references. The CV should highlight any relevant experience and demonstrate the applicant's ability to contribute to Austria's economy.

Criminal Record Check

As part of the due diligence process, applicants are required to provide a criminal record certificate. A clean criminal record is essential, and any pending criminal actions or severe administrative offences may disqualify an applicant from obtaining Austrian citizenship. This step ensures that only individuals with impeccable reputations are granted citizenship.

Previous Activities and Recommendations

Applicants must disclose information about their previous activities and provide recommendations from reputable sources. This allows the authorities to assess the applicant's character and ensure they meet the required standards. Recommendations can come from business associates, community leaders, or other individuals who can vouch for the applicant's integrity and contributions.

Compliance with Investment Requirements

Financial and Business Background

Applicants are expected to have a solid financial and business background. This includes demonstrating their ability to make significant investments and showing a history of successful business ventures. Financial documents, such as bank reference letters and statements of source of funds, may be required to support the application.

In summary, the due diligence checks for Austrian citizenship by investment are comprehensive and aim to assess the applicant's character, reputation, and ability to make a substantial contribution to the country's economy. It is important to carefully prepare and submit the required documentation to ensure a smooth and efficient application process.

Frequently asked questions