Austria is known for its stunning scenery, vibrant culture, and thriving economy. It also has a very low crime rate and excellent healthcare and education systems. The country’s culture has been shaped by its location at the crossroads of Europe. Austria is known for its classical music, art, architecture, and literature.
From the cosmopolitan city of Vienna to the picturesque Austrian Alps, Austria is a great place to live with plenty to offer its residents. You can call this beautiful and culturally rich nation your home through the Austrian Residence by Investment Programme.
Austria offers persons of independent means to become residents through proof of sufficient funds or assets. Let Endevio assist you in becoming a resident of Austria and enjoy what the country offers.
Benefits of the Austrian Residence
The advantages of the program include:
- Living in Austria for a year (can be renewed annually)
- Visa-free access to the Schengen Area
- Applying for a permanent residence permit after five (5) years of residency
- Applying for citizenship after ten (10) years of continuous residency
- Inclusion of dependants
Successful applicants under this programme cannot be granted work permits by Austrian employers. They may, however, work for companies or manage their businesses abroad.
Austria Permanent Residence Requirements
The following requirements must be complied with for the application to be successful:
1. Proof of Funds for Independent Means
More or less €40,000 in liquid funds must be proved through a bank statement issued by an Austrian or international bank. The exact amount of required funds depends on the annual benchmark defined by immigration authorities and the size of the family applying for residence.
2. Adequate Accommodation in Austria
The applicant must purchase or rent adequate accommodation in Austria and show proof of legal title to the property. What is adequate depends on the size of the family.
3. Health Insurance Coverage
The mandatory health insurance coverage must be for the main applicants and their dependants. It must provide benefits in Austria and cover all risks.
4. German Language Skills
The main applicant and dependents must be proficient in German at the A1 level. Dependants under 14 years old are exempted from this requirement.
5. Not a Threat to Public Order or Security
The applicant’s stay in Austria must not be contrary to public order or security or must not substantially affect the country’s relations with other nations.
Process Timeframe
Residence is usually granted within three to five months of application. Applicants must submit all required documents to the Austrian consular in the country where they are currently residing. If the permit is granted, an entry visa is given to the applicant to allow them to travel to Austria and obtain the residence permit.
