Austria citizenship by investment: benefits, requirements and application procedure
Recently, the number of people seeking Austrian citizenship through investment has increased. This program is known as Austrian Citizenship by Investment. Here are the benefits of Austrian citizenship and the main requirements for investors
Austria is a beautiful, developed country located in the center of Europe. It is known for its natural, amazing architecture and vibrant culture. The economy of Austria is developed at a high level, it is one of the richest countries in Europe with a very high quality of life. With attractions and a well-developed and stable economy, Austria is a great place to live.
Austria is the only Western European country that offers citizenship by investment and an EU passport without prior residency requirements.
How to get Austrian citizenship by investment? Benefits and registration procedure further.
The best places to visit in Austria: the main sights to see and do - find here.
What is the Austrian Citizenship by Investment Program?
The Austrian Citizenship by Investment Program or the Austrian Golden Visa Program is a procedure that allows anyone to obtain Austrian citizenship in exchange for a significant financial commitment to the country.
Advantages of Austrian citizenship
● Having obtained Austrian citizenship by investment, you will be able to live and work freely, both on the territory of the country and in any other EU state.
● An Austrian passport allows you to travel to more than 189 countries without a visa or by obtaining a permit at the airport. In particular, Austrian citizens have a simplified entry procedure to Hong Kong, Japan, Singapore and the USA. The Austrian passport is without a doubt one of the best travel documents in the world and one of the ten strongest passports in the world.
● Investor and family become citizens of the country for life and can transfer citizenship to future generations.
● Austria is a fantastic investment region in terms of business potential. The country's economy is strong and developed. The state is home to many large global corporations. The government also encourages international investment and provides various incentives for locating companies in the state.
Basic requirements for investors
● Features of the investment method
In order to obtain citizenship, a foreigner must invest in the Austrian economy, in particular open a company or make a direct investment in a business that creates jobs or generates new export sales.
Passive investments, such as government bonds or real estate, do not meet the requirements.
● Document requirements
To obtain Austrian citizenship, the investor must provide a standard package of documents: passport, birth and marriage certificate, etc. Also, in addition, each applicant must confirm the absence of criminal records (provide a relevant certificate), a comprehensive resume and business information, as well as impeccable references. Applicants must also have evidence of business experience and sufficient financial support to support themselves and their families.
● Renunciation of citizenship of the country of birth
Austrian citizenship law usually requires an applicant to renounce their current citizenship as a prerequisite for obtaining Austrian citizenship.
Obtaining a second passport or citizenship through investment is a complex process that requires a large financial commitment. In addition, you should be aware of the rules and regulations of the program, which may change from time to time. Therefore, it is important to work with a reputable immigration lawyer to successfully complete all stages of the citizenship process.
What is the minimum amount of investment to obtain Austrian citizenship?
In exchange for Austrian citizenship, investors must contribute to the development of the economy and create jobs. There is no set investment amount, each application is considered individually. However, the size of the investment is usually a minimum of 10 million euros if invested directly in the business or 3 million euros as a contribution to a state development fund.
Austrian citizenship procedure and deadlines
The procedure for obtaining Austrian citizenship based on investment in the country's economy includes various stages and requires government approval at several levels:
● The first step is to contact the Austrian government. This application must be supported by investment documentation, experience and financial position of the investor. After that, the government will scrutinize the application and conduct an inspection and interview with the investor.
● After the application is accepted, the investor must pass a language test and an exam on the history and culture of Austria. After fulfilling these conditions, the investor will be granted Austrian citizenship.
The average period of obtaining citizenship is from 24 to 36 months. Successful applicants are granted citizenship of the Republic of Austria by decision of the Austrian government and can apply for a passport immediately afterwards. Passports are issued within a few days.
The granting of citizenship is not notified to any other country, as the procedure is subject to government regulations regarding confidentiality or official secrecy.
Is it easy to get Austrian citizenship?
Unfortunately no. This requires significant investment, business experience and participation in the Austrian economy. This is not a passive investment like most residency and citizenship investment programs. It is also a long process and its successful completion is not guaranteed.
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Checklist for obtaining a visa and necessary documents in Austria;
Insurance for foreign students in Austria.
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