Austria
Austria is among Europe’s most affluent nations, providing its residents with an exceptional quality of life. The country features stunning natural landscapes and boasts a robust, stable economy, making it an excellent place to live. Additionally, Austria's rich cultural heritage and high standards of living contribute to its appeal. Its strategic location in Central Europe also offers easy access to other major European cities and countries.
Residence by Investment Overview
Austria is an excellent choice for residency. The Austria Golden Visa program provides German-speaking individuals with sufficient financial resources, who are not seeking employment in the country, the chance to become a resident of an EU member state. This visa allows access to the Schengen Area in Europe, subject to meeting specific stringent requirements.
Requirements
A minimum of EUR 40,000 in liquid assets, proficiency in the German language, permanent housing, and private health insurance are required.
Processing Time
One–three months from submission of the application to approval
Key Benefit
Freedom of travel to Austria, the rest of the EU, and Europe’s Schengen Area
Austrian Residence by Investment
An Austrian residence permit enables visa-free travel to all Schengen Area countries in Europe. Initially granted for one year, the permit can be renewed smoothly and without disruption. After 10 years of legal residency, or in some cases, after six years, you may apply for Austrian citizenship.
Benefits of an Austrian golden visa
Option to secure residency as an individual with sufficient financial resources
Visa-free travel to all Schengen Area countries in Europe
Eligibility for citizenship after 10 years of residency
Appealing lifestyle and healthy surroundings
Outstanding transportation and communication infrastructure
Austria golden visa requirements
Due to a stringent annual quota of approximately 300 applicants, only a limited number will be selected. To obtain residence through the Austria Private Residence Program, applicants must meet the following criteria:
Maintain at least EUR 40,000 in liquid assets, with the amount increasing based on family size.
Provide evidence of permanent residential property (either purchased or rented) where they and their dependents will reside.
Hold private health insurance.
Demonstrate German language proficiency at A1 level.
Additionally, applicants must:
Submit the required documents in person to the Austrian consular or diplomatic office in their current country of residence.
Secure a special visa from the Austrian embassy upon approval of their residence application, which will allow them to travel to Austria and collect their residence permit from the appropriate authority.
Procedures and time frame of the Austrian golden visa
During the application process, applicants must personally deliver required documentation to the Austrian consular or diplomatic office in their current country of residence. Given the strict quotas for certain residence permits, the timing of the application submission is crucial. After the permit is approved, the applicant must obtain a special visa from the Austrian embassy, which allows travel to Austria to collect the residence permit from the appropriate authority.
The minimum processing time is one month, though approvals typically take around three months. Once issued, the residence permit must be collected in person from the issuing authority in Austria. Additionally, non-EU and non-EFTA citizens must sign an integration agreement if they plan to stay in Austria for more than 24 months. Residence and settlement permits are issued as cards and can be renewed annually.
Austria residence by investment program frequently asked questions
What is the Austria Private Residence Program?
The Austrian residence by investment program allows investors and their families to obtain residence in Austria by making substantial contributions to the country's economy.
What are the investment options available for the Austria Private Residence Program?
Investment options include significant contributions to the Austrian economy through business investments, government bonds, or other approved financial instruments.
What are the benefits of obtaining Austrian residence through investment?
Benefits include the right to live, work, and study in Austria and other EU countries, visa-free travel within the Schengen Area, and access to high-quality healthcare and education.
What is the minimum investment required for the Austria Private Residence Program?
Chosen applicants must have a minimum balance of EUR 40,000 in a personal bank account (exact amount depends on family size).
How long does it take to process an application for the Austria Private Residence Program?
The processing time can vary but generally takes between one to three months.
Can family members be included in the Austria Private Residence Program application?
Yes, the main applicant can include their spouse, dependent children, and dependent parents in the application.
What are the residence requirements for the Austria Private Residence Program?
There are no specific residence requirements, but applicants may need to demonstrate a connection to Austria and spend some time in the country.
What documents are required for the Austria Private Residence Program application?
Required documents typically include a valid passport, proof of investment, health insurance, a clean criminal record, and other supporting documents.
Is it possible to obtain Austrian citizenship through the residence by investment program?
Yes, after maintaining residence for three years within a five-year period, investors may be eligible to apply for Canadian citizenship.
What is the process for applying to the Austria Private Residence Program?
Applicants must choose a qualifying investment, submit the application along with the necessary documents, and undergo a due diligence process.
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