Investing For Austrian Pr: Is It Possible?

Austria is one of the wealthiest countries in Europe, offering a high quality of life, natural attractions, and a stable economy. It is an attractive place to live, with Vienna ranked as one of the most liveable cities. Austrian residency provides visa-free access to the Schengen Area and, after 10 years, the possibility of applying for Austrian citizenship. Austria offers two main residence permit options for investors: the Austria Private Residence Program and the Business Investor Residency Program. The former requires a minimum of EUR 40,000 in liquid funds and proof of residence, private health insurance, and German language skills. The latter is for those establishing or investing in their own business in Austria, with a minimum investment of EUR 100,000.

Requirements for Austrian citizenship by investment

Austria is one of the wealthiest countries in Europe, offering a high quality of life, awe-inspiring natural attractions, and a well-developed and stable economy. It is the only Western European country that offers the possibility to obtain citizenship by investment without prior residence requirements.

• Investment Type: To obtain Austrian citizenship, applicants are required to invest in the Austrian economy. This is usually done through a significant business investment, such as a joint venture or direct investment in a business that creates jobs or generates new export sales. The minimum investment amount is typically €10 million if made directly into a business, or €3 million as a contribution to the government development fund.
• Documentation: Applicants must provide standard documentation, including passports, birth and marriage certificates, a clean criminal record, a comprehensive CV, and business background information.
• Language Proficiency: Applicants are required to have documented German language skills at the A1 level.
• Residence Requirements: There are no specific residence requirements, but applicants may need to demonstrate a connection to Austria and spend some time in the country.
• Citizenship Requirements: Austria typically requires applicants to abandon their current citizenship as a precondition for granting Austrian citizenship. However, under specific provisions of the Citizenship Act, applicants may be able to legally maintain their former citizenship.
• Processing Time: Obtaining Austrian citizenship through investment can take around 2-3 years, and approval must be authorised by officials at multiple levels.
• Benefits: Austrian citizenship provides visa-free or visa-on-arrival travel to approximately 190 destinations, including the EU, Canada, Hong Kong, and the UK. It also offers the right to reside and work anywhere in the EU and Switzerland, access to high-quality healthcare and education, and an excellent passport with a strong reputation.

Benefits of Austrian citizenship by investment

Austria is one of the wealthiest countries in Europe, offering a high quality of life, awe-inspiring natural attractions, and a well-developed and stable economy. Here are some of the key benefits of obtaining Austrian citizenship by investment:

Visa-Free Travel

One of the most significant advantages of Austrian citizenship is the ability to travel visa-free to approximately 190 destinations, including the European Union, Canada, Hong Kong, and the Schengen Area. The Austrian passport is highly regarded and provides excellent visa-free travel options, including access to the United States and the United Kingdom.

Right to Reside and Work in the EU

With Austrian citizenship, individuals can live, work, and study in Austria and anywhere else in the European Union at any time. This freedom of movement within the EU is a valuable benefit for those seeking to establish their lives and careers in Europe.

High Quality of Life

Austria consistently ranks highly in terms of healthcare, education, and living standards. The country is known for its beautiful architecture, nature, and good ecology. Investors and their family members can access high-quality healthcare and insurance treatment at Austrian clinics. Additionally, Austrian schools and universities are well-regarded, providing a strong foundation for children's education.

Family Inclusion

Austrian citizenship by investment allows investors to include their spouse and dependent children in their application. This means that direct family members can also enjoy the benefits of Austrian citizenship, such as visa-free travel and access to quality education and healthcare.

Permanent Residence and Citizenship Prospects

After residing in Austria for a certain period, typically five to ten years, investors can apply for permanent residency and, eventually, Austrian citizenship. This provides a path to long-term stability and the opportunity to become a full citizen of a highly regarded EU country.

Application process for Austrian citizenship by investment

Austria is one of the wealthiest countries in Europe, offering a high quality of life, awe-inspiring natural attractions, and a well-developed and stable economy. It is the only Western European country that offers the possibility to obtain citizenship by investment and an EU passport without prior residence requirements.

Requirements for Austrian Citizenship by Investment:

• A substantial contribution to the Austrian economy, typically a minimum of €10 million if made directly into a business, or €3 million as a contribution to the government development fund.
• A complete and clean personal record is required, along with strong business background information.
• Most applicants will be required to abandon their current citizenship, but some may be able to keep it under certain circumstances.

Application Process:

The process of obtaining Austrian citizenship by investment is lengthy and demanding, with processing times of around 2-3 years. Approval must be authorised by officials at multiple levels, and it is essential that the applicant is properly advised from the beginning. Here are the key steps:

• Choose a qualifying investment opportunity, such as a joint venture or direct investment in a business that creates jobs or generates new export sales.
• Submit the application along with the necessary documents, including a valid passport, proof of contribution, health insurance, a clean criminal record, a comprehensive CV, background business information, and impeccable references.
• Undergo a due diligence process, which includes a thorough background check.
• Receive approval and obtain citizenship documents.
• Apply for an Austrian passport, which is issued within a few days.

It is important to note that the granting of citizenship is at the sole discretion of the Government of the Republic of Austria, and there is no guarantee of success. The investment, commitment, and timeframe required for the Austrian Citizenship by Investment program are far in excess of other programs.

Austrian residence permit for financially independent persons

Austria is one of the wealthiest countries in Europe, offering a high quality of life, a stable economy, and awe-inspiring natural attractions. Obtaining a residence permit in Austria allows individuals to live in the country and travel visa-free within the Schengen Area for 90 days in any 180 days.

Financially independent individuals can apply for an Austrian residence permit without searching for a job or proving other significant reasons to relocate to the country. This permit allows them to live in Austria but not work. The key requirements for applicants are a stable income, owned or rented housing in Austria, and basic proficiency in German.

The issuance of residence permits for financially independent persons is regulated by Article 44 of the Settlement and Residence Act (Niederlassungs- und Aufenthaltsgesetz, NAG). There is an annual quota for this type of permit, with approximately 450 permits available each year. One quota is allocated per family member.

Applications are submitted to an Austrian consulate or a magistrate in Austria by appointment during the first working days of the year. The earlier the appointment, the higher the chance of securing a residence permit. Quotas are typically assigned within the first two days.

The initial residence permit is granted for one year and can be extended. To maintain the status, individuals must spend at least 183 days per year in Austria. After five years of residence, they can apply for a lifetime permanent residence permit.

Benefits of the Austrian Residence Permit:

• Relocation to Austria: Austria offers high living standards, beautiful architecture and nature, and a good ecological environment.
• Visa-free travel within the Schengen Area: Austrian residents can enter other Schengen countries without a visa and spend up to 90 days out of 180 in the region.
• Access to quality education and healthcare: Austria is known for its high-quality healthcare and education system. Graduation from Austrian schools facilitates entry into European universities, and Austrian university diplomas are highly valued worldwide.
• Prospect of Austrian permanent residence and citizenship: After residing in Austria for five years with a residence permit, individuals can apply for permanent residency, allowing them to be employed and do business in the country. Subsequently, they can apply for Austrian citizenship after meeting certain requirements, typically after six to ten years of permanent residence.

Requirements and Process for the Austrian Residence Permit:

• Stable income and financial independence: Applicants must demonstrate a legal source of income outside Austria and provide a bank statement confirming sufficient funds to cover living expenses in Austria for one year. The required amount is calculated based on family composition.
• Housing in Austria: Applicants can rent or buy property in Austria, ensuring it meets the space and layout requirements for their family.
• German language proficiency: All family members aged 14 and above must prove basic proficiency in German (A1 level or higher).
• Medical insurance: All family members must obtain full-coverage medical insurance from an insurance company licensed in Austria.
• Application process: The entire process, from preparing documents to obtaining the residence permit, typically takes at least five months. Applicants should start the process in late summer to increase their chances of approval. The application is then submitted during the first two weeks of January.

In summary, the Austrian residence permit for financially independent persons offers a straightforward path to residency in Austria for those who can demonstrate financial independence and meet the other requirements. It provides individuals and their families with the opportunity to enjoy the high living standards and benefits that Austria has to offer while also facilitating future paths to permanent residence and citizenship.

Austrian residence permit for business investors

Austria is one of Europe's wealthiest countries, offering a high quality of life, awe-inspiring natural attractions, and a well-developed and stable economy.

Austria's Business Investor Residency Program enables third-country individuals to obtain a residence permit in Austria when establishing and investing in their own or majority-owned business. The program is not a typical residency by investment program, as it requires investors to receive an Austrian Red-White-Red Card work visa for self-employed key workers. The residence permit is granted for two years and must be renewed thereafter.

Requirements:

• The main applicant must invest in their own business or a majority-owned business in Austria, with a minimum investment of EUR 100,000.
• The business must benefit the Austrian economy, and a detailed business plan must be presented during the application process.
• The business company must pay a regular salary of at least EUR 1,000, which is high enough to cover housing and other living costs.
• The main applicant and their dependents (from 13 years old) need to prove their German language skills at A1 level by taking a language test at an accredited institution within 12 months before submitting the application.
• The main applicant and their dependents must have a health and sickness insurance policy from an Austria-licensed insurance company.
• The applicant must provide proof of a regular and stable income.

Steps to Obtain the Residence Permit:

• Develop a comprehensive business plan with the help of an industry expert, ensuring it covers all managerial, financial, and economic aspects.
• Submit the application with the assistance of a reliable industry expert, who can guide you through the negotiation process with the involved authorities.
• Once the application is approved, the investor will receive a short-term visa to enter Austria. Within the validity of this visa, the investor needs to register as a resident and provide proof of certain documents.
• Upon arrival in Austria, the investor must pick up their residence permit from the local authorities.
• The residence permit must be renewed annually, and the investor must provide proof of their business's stability and growth.

It is important to note that the Austrian residence permit for business investors is governed by the provision of Article 41 of the Austrian temporary and permanent residence law (Niederlassungs- und Aufenthaltsgesetz NAG). This program has a point-based system that evaluates the main applicant's qualifications, work experience, education background, investment amount, and employment goals.

After 21 months of residency in Austria, the investor can apply for a permanent residence permit (Red-White-Red Card Plus) if they meet certain conditions, including proof of income, intermediate language skills (B1 level), and a clean criminal record. Austrian citizenship can be applied for after six to ten years of continuous residency.

Frequently asked questions