As an Austrian citizen, you can live and work in Austria and anywhere else in the EU at any time. Its passport has an excellent reputation and offers very comprehensive visa-free travel including visa-free access to the USA. It is without a doubt amongst the best travel documents in the world. In today’s article we are going to take a look at Austria, one of the wealthiest countries in Europe and what makes it a special option if you are considering or making applications for residency or citizenship in different countries.
Why Austria?
Austria offers a very high quality of life to its people, with inspiring natural landmarks and a well-developed and stable economy, making for an outstanding place of residence. It is a member of the European Union and it has a population of 8.5 million people. Its capital is Vienna, its official language is German, and the official currency is the Euro.
Austria has one of the highest per capita incomes worldwide. The country also has one of the highest Human Development Index ratings, with a high standard of living and a quality health and education system. If we have to highlight one of the main characteristics or benefits of Austria, we have to say that it is the only country in Western Europe that offers the possibility to obtain citizenship by investment and a EU passport
without prior residence requirements.
How does the process work?
An applicant is required to invest actively in the Austrian economy, for example, in the form of a joint venture or direct investment in a business that creates jobs or generates new export sales. Significant direct investment is generally required. Passive investments in government bonds or real estate, don’t qualify.
Even though the minimum contribution is not cheap, in fact, we are talking EUR 3 million,
with a processing time of 24 months, depending on the application.
We have mentioned a few benefits of this program, and if we have to underline some others, those would be:
· Visa-free or visa-on-arrival travel to
· 188 destinations including Canada, Hong Kong, the rest of the EU
· Work anywhere in the EU
· High standard of living
· Live in one of the wealthiest countries in the world
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