Austria: one of the most unique places to buy real estate as a foreigner.
Austria is one of Europe’s wealthiest countries, offering a very high quality of life to its people. With awe-inspiring natural attractions and a well-developed and stable economy, Austria makes for an outstanding place of residence.
Austria is an outstanding place to take up residence. For German-speaking persons of independent means (who cannot take up gainful employment in the country), Austria offers the opportunity to become resident in an EU member state and gain visa-free access to Europe’s Schengen Area through certain strict requirements.
An Austrian residence permit allows you to travel to all Europe’s Schengen Area states without a visa. A residence permit is initially issued for one year and can then be renewed without problems or interruptions. After 10 years of legal residence, and in certain circumstances after six years, it is possible to apply for Austrian citizenship.
Minimum EUR 40,000 liquid funds
1 – 3 months from submission of the application to approval
The right of free movement to Austria, the rest of the EU, and Europe’s Schengen Area
Possibility for citizenship eligibility after 10 years of residence
Requirements of the Austria Private Residence Program
Only a select number of applicants will be chosen, due to the strict annual quota of around 300 individuals in place. To acquire residence under the Austria Private Residence Program, applicants must fulfill all the following requirements. They must: • Have financial independent means: A minimum of EUR 40,000 in liquid funds on a bank account, the amount of which will increase depending on the size of their family. • Provide proof of permanent residential real estate (either purchased or leased), where they and their dependents will live. • Have full-cover health insurance. • Have documented German language skills (at A1 level).
Steps to follow
Step 1 - Preliminary Check:
Our specialized team will review the documentation submitted to verify that the immigration requirements are met. In addition, we will verify the transparency of investment funds. As a result, we will have a background check report and signed contract.
Step 2 - Choose of Investment:
You must select the investment option that most convinces and suits you, so that later we can start the process. If you decide to obtain residency through real estate investment, we will help you choose your property based on your needs and desires.
Step 3 - Preparation of documents and sending to the corresponding agency:
We take care of everything: we obtain the criminal record certificates, we fill out and complete the government forms, we certify the documents before a notary, we do the translation and apostille everything (this service has a separate cost), and then we send it to the residence. We present your documents independently and with strict compliance with the requirements, as well as monitoring the progress of the application. As a result, we will confirm the receipt of the documents by the government.
Step 4 - Due Diligence check:
Once the residency agency receives all the documents, the applicant's background check begins. In the event that additional documents are required during verification, we will handle those requests.
Step 5 - Case Investigation:
We look forward to a positive resolution and receive the new documents together with you. If necessary, we can also help you with other operational, commercial and even domestic matters (including the arrangements of additional documents).
Step 6 - Receiving residency:
When the investment and all fees are paid, you receive the certificate of residence. Then, these documents are sent to you, so that after the wait, you can start enjoying them.
Does this residency allow me to obtain citizenship?
After 10 years of legal residence, and in certain circumstances after six years, it is possible to apply for Austrian citizenship.
For how long will I have the residence?
A residence permit is initially issued for one year and can then be renewed without problems or interruptions.
What documents are required?
• A completed application form with a photograph. • A copy of your passport. • Documents that prove your income is legal. For example an employment contract. • Certificates of no criminal records. • Health insurance policy. • Payment documents confirming the payment of state duties and fees. • Documents confirming the fulfillment of the investment conditions stipulated in the application.
Can I bring my family in this experience?
Yes, they can apply for a family visa.
Is dual citizenship accepted in Austria?
The Austrian Citizenship Act does not allow dual citizenship, and therefore, upon acquiring another citizenship, an Austrian citizen would have to renounce their original citizenship.
With what currency must the residency programs be paid?
This residency program should be paid in euros.
How strong is the Austria visa?
The Austrian passport ranks 5 in the world. Giving you visa free access to 192 destinations.
Can the residence be purchased with an investment in Real Estate?
It is impossible to obtain a residence permit when buying real estate here. But The Austrian authorities have created a program that allows financially independent persons to apply for a residence permit, who undertake to reside for more than 183 days a year. They automatically become tax residents here and therefore get the right to buy real estate in Austria.
In what cases can my application be rejected?
Most of the applications are authorized, however there are some reasons why you may have difficulty with this residency. Such us: • Having criminal records. • Lack of documentation. • Do not meet the minimum time in the country.
The main applicant must go to Austria?
Yes, once the residence permit is issued it must be collected in person from the issuing authority in Austria.