Planning to get Austrian citizenship by investment? We have you covered in this article.
Austria is one of the countries that allow you to obtain citizenship by investment. This gives you many advantages, such as visa-free access to EU countries.
This article is a guide to becoming a citizen by investing in Austria. Here, you will learn everything about the benefits of becoming a citizen and having a passport in this country.
Let’s take a closer look at the details of the program.
Introduction to Austrian Citizenship by Investment
One of the best solutions if you need a very rich key to open the doors of the EU is the Austria Citizenship by Investment Program.
People recognize Austria as a country that is generous in offering citizenship. Scientists, entrepreneurs, sportsmen and women are particularly interested in naturalization because of this characteristic of Austria.
The conditions for the citizenship program are very transparent.
Participate in one of the following investment options:
- Real estate investment
- Business investment
- Joint venture
- Direct investment in a company that creates jobs or generates new export sales
So, to become a citizen under this program, you need to invest. You are also expected to have a good level of financial strength.
Austria citizenship by investment cost:
- Average investment of 7-8 million euros (may increase over time)
- Cost of preparation of documents
- Consultancy fees
- Expenses payable to state institutions
The fee to become a citizen varies for each person.
The Importance of Austrian Citizenship
Austrian citizenship is highly valued by those wishing to live in EU countries due to its advantages.
And they are not wrong because the Austrian passport is very powerful.
According to our Passport Index, the Austrian passport is the 3rd strongest passport in the world.
In 2023, Austria was ranked 5th in the index data. So, the strength and importance of the Austrian passport are clearly increasing.
We will go into more detail in the next section.
Benefits of Holding an Austrian Passport
To obtain an Austrian passport, you must obtain Austrian citizenship.
This passport, which you receive after acquiring citizenship, opens the door to the best countries in the world.
If you want to know the most important benefits of getting an Austria passport by investment, check these out:
- You have the right to live and work in Austria for life.
- You can use your passport to travel freely in the Schengen Area.
- You can travel to 192 countries around the world without a visa.
- You can vote in presidential elections.
- You can maintain your citizenship in your home country thanks to dual citizenship.
- You can enjoy quality education and health care.
- You can pass on your citizenship rights to your grandchildren in the future.
Understanding the Austrian Economy
The Austrian economy occupies a prominent position within the European Union (EU).
At the same time, Austria ranks high in terms of GSYIH per capita.
Its geographical location is one of the reasons for this. Due to its strategic location, it attracts foreign investors.
What is more? The economy is quite stable in Austria. This makes it a highly prosperous location.
Now you have some idea about the Austrian economy. But where are the indicators to prove it? Let us take you to the next topic.
Key Economic Indicators
Among European countries, Austria offers a high standard of living. This is not just an assertion but a fact that is proven by the indicators.
Firstly, let us explain the sectors that ensure the development of Austria: A large service sector, construction, machinery, solid industry and stable agriculture.
The Austrian unemployment rate of 7.0 percent is one of the lowest in Europe. This means that there is no shortage of jobs in Austria.
The latest published data on Austria’s key economic indicators are as follows:
- GDP, nominal: 3.7
- GDP, real: -0.6
- Private consumption expenditure, real: 0.1
- Gross fixed capital formation, real: -2.8
- Exports, real: -2.3
- Imports, real: -1.9
- Employment: 0.2
- Unemployment rate: 7.0
- Inflation (CPI): 3.1
The above economic indicators are for 2024 and were updated on 4 October.
Important note: Data is given in ‘%’.
Business Environment in Austria
Austria is a country where you can feel safe with a low unemployment rate.
One of the main reasons for the favorable business environment in Austria is its geographical location.
Austria is located at the crossroads of Eastern and Western Europe. This is a really good strategic location.
This means that Austria has the status of a center for businesses and entrepreneurs who want to expand into the EU market. That is why the business climate is favorable.
In addition, Austria offers a hospitable and fair environment for foreigners. It is transparent and conducts a friendly and non-discriminatory policy.
As a result, it paves the way for foreign investors and helps them start businesses in Austria. This is an important benefit for both investors and the country’s economy.
The Austrian state does not stop there. With fair taxation, it becomes a favorable location for starting a business. Let’s make it even more clear: Up to 18,000 Euros, the tax rate is fixed at 20%.
Citizenship Requirements for Applicants
If you want to get citizenship by investment in Austria, you need to invest heavily in the Austrian economy.
However, you need to know where to make your investment. For example, passive real estate investments and government loans are not valid. Instead, a direct investment of a high volume is necessary for your application to be approved.
Active property investments, business start-ups, and venture partnerships are some examples that are considered valid.
In addition to the investment, you will also need to submit a passport, birth certificate, residence permit, clean criminal record, curriculum vitae, and reliable references (if available).
Once you have prepared your documents, you need to apply to the Federal Ministry of Economics and Labour. The ministry will then examine your proposal and the size of your investment. In the final stage, the ministry officials approve or reject your application.
In addition, the following are important:
- Have the documents absolutized and signed.
- Make sure that the criminal record is from the last 6 months.
- Have a basic knowledge of German.
- Prove the benefits you will bring to the national economy.
Important information: To apply for citizenship, you must reside in Austria and have a residence permit for a certain period of time.
Residency Requirements for Applicants
To obtain Austria residency by investment, you must fulfill the residency requirements.
These rules also apply when applying for an Austrian Golden Visa. For example, you must submit documents such as a rental agreement to prove your residence. This law applies to all visa and citizenship programs.
You may be interested to learn more about the “Golden Visa”.
We will now take a closer look at the general residence rules and long-term residence permit options.
General Residency Guidelines
You are lucky if you have a residence permit in Austria for 1-2 years. In this case, you can most likely gain citizenship by investing.
However, a residence permit alone is not enough. You are expected to live in Austria for at least six months, which is necessary for the continuity of the residence permit.
In addition, living in Austria for a total of 2.5 years is one of the conditions for obtaining citizenship through investment.
Make sure that you do not leave the country for a long period of time while you are living in Austria under the Austria residence by investment program. We also recommend you submit your application when the time requirement is fulfilled – without waiting.
Long-Term Residence Permit Options
You have no citizenship, no residence, and no work permit, so what is your road map?
Firstly, we said that you must have a residence permit. This will be your first goal.
If you are starting from scratch, we recommend the following long-term residence methods:
- EU Blue Card: The EU Blue Card, initially issued for 2 years, gives you long-term residence rights.
- Red-White-Red: Although it is initially issued for 6 months to 2 years, you can extend it in the future.
- Austria Investment Visa: It is a residence permit that you can obtain when you invest and contribute to the state.
If you have already been living in Austria for a long time, you should apply for more advanced methods to extend your residence.
If you have lived 5 years in Austria legally, you can apply for an EU Long-Term Residence Permit.
Conclusion
As a result, Austria offers you a unique opportunity to gain citizenship through investment. This will help you to unlock many global benefits with an Austrian passport, one of the most powerful passports in the world.
By participating in this program as an investor, you can not only secure a prosperous future but also gain access to the wider European market. With Austria’s strong economy and favorable business climate, you can build your future.
It is worth noting that the process requires a significant financial commitment and may not suit everyone. But if you can afford it, the benefits, such as visa-free travel and dual citizenship, are well worth it.
Frequently Asked Questions
How much does an Austrian Golden Visa cost?
It can depend on your personal circumstances. The total cost may be around 7-8 million euros.
Why do I apply for Austrian citizenship?
If you are looking for a high quality of life, security, and a culturally developed environment in Europe, you may consider Austrian citizenship.
Is dual citizenship allowed in Austria?
You can get dual citizenship in Austria. So, it means that you can apply for Austrian citizenship by investment program and still keep your nationality if your nation of origin also lets you do that.
Can my family become Austrian citizens?
Austrian Citizenship Act lets you include your family members in your Austrian citizenship application if they meet the requirements. Remember that there might be specific eligibility criteria for your spouse and children.
Is it easy to get citizenship in Austria?
It is, for some, a complex process to obtain Austrian citizenship granted by the Austrian government, including a significant residency period or language proficiency required in Austria. Some other countries also have citizenship through investment programs, with less or more minimum investment requirements and different investment types like significant direct investment or government bonds.
What is the global ranking of the Austrian passport?
Austria passport ranked as 3rd in 2024. Passport owners of Austria get the option to travel to 192 countries through visa-free access.
