Austria’s Residency by Investment program offers a unique opportunity for individuals to call this prosperous country their home. With its stunning natural beauty and resilient, advanced economy, Austria provides a remarkably high standard of living.
Residency by investment in Austria offers several benefits, including:
1. Visa-free travel: Residency in Austria grants individuals the right to visa-free travel within the Schengen Area.
2. High quality of life: Austria is renowned for its high standard of living, with access to excellent healthcare, education, and public services.
3. Stable economy: Austria has a robust and stable economy, making it an ideal location for investment and business opportunities.
4. Favorable tax system: Austria has a competitive tax system, with relatively low tax rates compared to other European countries.
5. Access to the European market: Austria is a member of the European Union, providing individuals with access to the European market.
Residency by investment in Austria grants individuals the right to unrestricted movement within the Schengen Area, comprising 26 European countries.
This means that individuals can travel freely without the need for a visa or any additional documents. This benefit is especially valuable for individuals who frequently travel for business or leisure. It also provides greater flexibility in terms of work and study opportunities, as individuals can easily relocate to other European countries without any restrictions.
In essence, the right of movement with residency in Austria offers greater freedom and convenience for individuals and their families.
Residency by investment in Austria Conditions:
Proof of Independent Means:
The applicant must demonstrate a sufficient annual income, which is twice the minimum pension benchmark set by the Austrian Immigration authorities.
The income requirements are as follows: approximately EUR 24,000 for a single applicant, approximately EUR 38,000 for a married couple, and approximately EUR 45,000 for a family of four, with an additional amount of approximately EUR 3,700 for each included minor child.
These funds must be proved annually through a recent bank statement from an Austrian or internationally-recognized bank. Alternatively, proof of assets can also be accepted.
Proof of Property:
The applicant must provide proof of renting or purchasing a suitable apartment that meets the family’s needs. There is no minimum value requirement for the property.
Valid Travel Documents:
The applicant must possess valid travel documents.
Austrian Health and Sickness Insurance Policy:
The applicant must obtain health insurance coverage for themselves and their dependents from an insurance company licensed in Austria, covering all risks according to Austrian law.
German Language Skills:
The main applicant and dependents aged 14 or older must prove their German language skills at A1 level through a language test taken at an accredited institution within 12 months of submitting the application. Alternatively, if the applicant holds a university degree or high school diploma, they may be exempt from this requirement.
A due diligence exercise will be conducted on the main applicant and their dependents.
Austria, situated in the heart of Europe, is a picturesque and mountainous country that boasts of a rich cultural heritage, delectable cuisine, and diverse wines. It is a popular tourist destination with many famous cities, such as Vienna, Salzburg, Innsbruck, and Klagenfurt, attracting visitors from all over the world.
Beyond the urban areas, Austria is renowned for its stunning natural landscapes, including the Alps and lakes. Additionally, the Austrian people are hospitable and welcoming, creating a warm and comfortable environment for visitors. Austria has a robust and stable economy, which is well-supported by advanced infrastructure, making it an ideal place to live or invest.
Parliamentary representative democracy
Once applicants have completed a five-year residency period, they become eligible to apply for a permanent residence permit in Austria.
To obtain the permit, they must provide evidence of their independent means and intermediary language skills (B1 level) and must have a clean criminal record.
If these conditions are met, the Austrian authorities will issue the permanent residence permit, providing long-term security and stability for the individual and their family.
Austria presents an excellent option for those seeking to establish residency in an EU member state.
The Austrian golden visa program offers this opportunity to individuals of independent means who speak German and cannot engage in any paid employment in the country.
Successful applicants can enjoy visa-free access to Europe’s Schengen Area, subject to strict eligibility criteria.
The process of applying for the Austrian Residency Program for Persons of Independent Means involves several stages:
Stage 1 – Language Skills: Applicants without a university degree must attend language courses and obtain an A1 German language certificate.
Stage 2 – Bank Account: We schedule a meeting with an Austrian bank for the applicant to open an account. Although statements from a foreign bank may be accepted.
Stage 3 – Funds Transfer: The applicant transfers the required funds to their Austrian bank account or keeps it in their foreign bank account.
Stage 4 – Health Insurance: Personal health insurance must be obtained, and Citizen Lane can provide support during this process.
Stage 5 – Housing: The applicant must rent or purchase a suitable family home, and Citizen Lane can provide assistance.
Stage 6 – Document Preparation: Citizen Lane will prepare the necessary application documents.
Stage 7 – Embassy Interview: The applicant must attend an interview at the Embassy or Consulate of Austria in their country of residence and pay a visa fee of EUR 150 per person.
Stage 8 – Entry Visa Application: Citizen Lane will prepare the entry visa application, which is typically valid for 90 days.
Stage 9 – Travel and Residence Permit Pickup: After receiving the entry visa, the applicant must travel to Austria to pick up their residence permit in person at the local immigration authority.
In addition to our service fee, the following fees are applicable to the process:
Visa Fees: Applicants are required to pay a visa fee of EUR 150 per person during the interview at the Consulate or Embassy.
Municipality’s Registration Fees: A minor registration fee will be charged by the local city, which may vary from city to city.
Taxes: If the application is successful and the applicant moves to Austria, they will be subject to taxes in Austria and must report their worldwide income to the Austrian tax authorities.
If the applicant spends less than 183 days per year in Austria and has no family in Austria, they may opt to be a tax resident in another country with proof.
The income tax rate on employment income ranges from 0 to 55%. The preferred tax rate on dividend income is 27.5%, and the income tax rate on interests is 25%.