Austria, officially known as the Republic of Austria, is a landlocked country located in Central Europe. With a population of around 8.9 million people, Austria is a parliamentary representative democracy with a prosperous economy driven by tourism, technology, and manufacturing. The country is also known for its cultural contributions to the world, including classical music, art, and literature.
Austrian Citizenship by Investment Overview
Foreigners has the opportunity to gain citizenship and residency in Austria through investments, although the price tag is steep. To qualify, the investment must be significant, contribute to the country’s economy, and generate employment opportunities. Austria’s citizenship by investment program sets itself apart by giving investors the freedom to select their investment, as long as it is substantial and serves the government’s interests. In addition to citizenship, approved investors can enjoy various lifestyle benefits and access diverse investment opportunities. The citizenship application process takes up to 36 months, but citizenship is granted immediately once approved.
The usual minimum investment required for citizenship by investment in Austria is €10 million when invested directly into a business, or €3 million as a contribution to the government development fund. However, the investment amount is not fixed, and every application is evaluated on a case-by-case basis.
Applicants seeking Austrian citizenship through the Austria Golden Visa are required to renounce their original citizenship, as Austria does not permit dual citizenship. Moreover, the strict quota limits the number of annual approvals for the Austria Golden Visa to only 300, making it a significant deterrent for prospective applicants.
Applicants can include their spouse and children in their application for Austrian citizenship by investment, granting them the same privileges as the primary applicant. This means that the whole family can benefit from the opportunities and advantages of being an Austrian citizen, including access to top-quality education, healthcare, and social services. Additionally, family members can also benefit from the freedom of movement within the European Union, which allows them to live, work, and study in any of the EU member states. This can provide significant benefits and opportunities for families who wish to expand their horizons and explore new possibilities. The entire Austria Golden Visa application process can take around 36 months to complete and have citizenship granted.
Austrian Citizenship by Investment Key Benefits
- Visa-free travel: Austrian citizens enjoy visa-free or visa-on-arrival access to 190 countries and territories, making it a valuable passport for international travel.
- Access to the EU: As an EU member state, Austria grants its citizens the right to live, work, and study in any of the other 26 EU member countries.
- Stable political and economic environment: Austria is a politically and economically stable country with a high standard of living, making it an attractive destination for investors and individuals seeking a high quality of life.
- Investment opportunities: Austria offers a range of investment opportunities, including real estate, business, and government bonds.
- Family benefits: Austrian citizenship extends to the investor’s immediate family, including their spouse and dependent children under the age of 18.
To be eligible for the Austria Golden Visa, applicants must meet the following requirements:
- Be at least 18 years old.
- Have no criminal record.
- Maintain a minimum bank balance of €40,000.
- Attain at least A1 proficiency in the German language.
- Obtain private medical insurance in Austria.
- Reside in Austria to obtain Austrian citizenship.
- Relinquish their original citizenship to obtain Austrian citizenship.
Process of Obtaining Austrian Citizenship by Investment
- Use an immigration lawyer to apply for the Austria Golden Visa.
- Prepare documents such are:
— 3 years of income proof
— A police clearance certificate
— A valid Austrian visa
— A valid passport
— Education certificates
— Marriage certificate, children’s birth certificates, and evidence of past marriages (if applicable)
- Complete CV containing information about each family member
- Recent passport photos or use iVisa digital photo service.
- pay a fee of €700 for individual applicants, plus additional administrative costs or €1,400, for married couples.