Austrian citizenship by investment allows foreign applicants to gain Austrian residency and citizenship by actively investing in the economy. It has many significant benefits in the form of one of the world’s most generous citizenships. But, the commitment, investment, and timeframe are far greater than in other programs without promise of success.
European residence permit in Austria
Individuals must donate a certain amount to qualify for Austrian citizenship through investment. They also need to invest in real estate, start an innovative business, or support an existing one. Austria is quite particular about requirements, and the process is time-consuming and expensive.
Cost of Austrian passports
The cost of procuring Austrian citizenship comes at a big price. You will need to substantially contribute to the economy and create jobs. There is no set investment amount and each application is judged individually. Direct investment in a business typically involves €10 million.
Benefits of Citizenship by Investment Programs
Austrian citizenship has several substantial benefits obtained through investment. They include:
- Visa-free access to the EU Schengen zone
- Austrian passports allow visa-free travel to the US and the UK
- Your application can include family members (directly).
- Access to premium education
- Access to high-quality Austrian healthcare
- Access to Austria’s educational institutions
- The right to live and work in Austria and EU countries
- Austrian passports are highly respected worldwide
- Passport holders have high levels of mobility and freedom
- Visa-free access to 192 countries
- Peaceful and politically stable
- Low crime rate country
- Well-connected airports
Documentary and financial requirements
The primary documentary requirements required are as passports, birth and marriage certificates. Apart from that, you must also submit the following documents:
- Proof of funds source
- Bank reference letters
- Proof of certified business investment
- Proof of a sound business background
- Copy of the business license
- Proof of educational credentials
- Professional reference letters are required
- Medical certificate for sound health
- Certificate of police clearance
- A detailed and comprehensive Curriculum Vitae
Note: You may be required to provide more information. It all depends on the specific application.
Several levels of government approval are required for applications, and the Austrian government is the only authority that approves them. The application timeframe is case-by-case, but approval takes 24 to 36 months. Successful applicants will receive an Austrian citizenship certificate, followed by an Austrian passport.
The decision to grant citizenship rests solely with the Austrian Government. There is no guarantee of approval.
EU Passports are Worth
We can say that EU passport is worth the chase for most people because of numerous benefits. However, obtaining a European passport can be quite challenging. Apparently, European countries have become very selective about who they grant citizenship to. Austria’s citizenship by investment program is only available to wealthy individuals who can afford to invest significantly.
Interesting cacts about Austria:
|Wolfgang Amadeus Mozart, Johann Strauss
|Federal parliamentary republic