The Republic of Austria offers one of the highest living standards in the world. Although one of the smaller states of Europe, it has a world-class capital, Vienna, with a rich cultural and historic heritage. But Austria also boasts beautiful countryside with Alpine peaks and spectacular scenery. It is an excellent place to establish residence within the European Union and is the only EU country besides Slovakia with an established practice of offering citizenship and a passport to substantial investors without prior residence requirements on the basis of investment in the country.
Austria Residence Permit
Austria is one of the most attractive countries in the world to live in. An ideal combination of economic stability, a clean and safe environment and an excellent infrastructure make it an outstanding place of residence. For persons of independent means as well as those who can qualify under the "Key Manager" category, Austria offers the opportunity to become resident in a Schengen Area member country with minimal bureaucratic requirements.
An Austrian residence permit allows you to travel to all Schengen states without the need for a visa. A residence permit is initially issued for one year and can then be renewed annually without problems or interruptions. After 10 years of legal residence, and in certain circumstances after seven years, it is possible to apply for Austrian citizenship.
Residence for Persons of Independent Means
Under the category of persons of independent means, the key criteria are that you have sufficient funds (you must be able to show liquid assets at your disposal of about EUR 40,000 per adult and EUR 10,000 per child below 18 years. These assets you should show in the form of a statement of account from an Austrian or major international bank), permanent accommodation in Austria, and health insurance that provides full cover in Austria.
A spouse and children under 18 years can be included in an application. Due to a strictly applied quota system, the processing time for applications under this category can, however, be lengthy.
Residence and Work Permit as a Key Manager
Under the category of 'Key Manager', the main criteria are that you have been appointed as a manager of an Austria-based company and are employed at a minimum salary of EUR 2,500 per month. This corresponds to approx. EUR 800 per month in effective costs for taxes and social security contributions.
A spouse and children under 18 years can be included in an application. The processing time for applications under this category is normally not more than about 3 months.
For both categories, the residence permits can easily be renewed every year.
Key Advantages of Austria
- Opportunity to establish residence as a person of independent means
- Austrian residence permit gives visa-free access to all Schengen States
- There is no need to spend any particular time actually residing in Austria
- Citizenship may be available after 10 years of residence
- Citizenship-by-investment possible without prior residence for substantial investors
- Attractive lifestyle and healthy environment
- Excellent transport and communications
Please contact us for more information on residence and citizenship in Austria for investors and financially independent individuals, or to arrange an initial personal consultation.