Austria is one of the most attractive countries in the world to live in. An ideal combination of economic stability, a clean and safe environment and an excellent infrastructure make it an outstanding place of residence. For persons of independent means as well as those who can qualify under the "Key Manager" category, Austria offers the opportunity to become resident in a Schengen Area member country with minimal bureaucratic requirements.
An Austrian residence permit allows you to travel to all Schengen states without the need for 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.
Residence for Persons of Independent Means
Under the category of persons of independent means, the key criteria are that you have sufficient funds (you must be able to show liquid assets at your disposal of about EUR 40,000 per adult and EUR 10,000 per child below 18 years. These assets you should show in the form of a statement of account from an Austrian or major international bank), a university degree that is recognized in Austria or knowledge of the German language at A1 level, permanent accommodation in Austria, and health insurance that provides full cover in Austria.
A spouse and children under 18 years can be included in an application. This residence permit is subject to a very low annual quota of approximately 300 applications per year.
Residence and Work Permit as a Key Manager
Under the category of 'Key Manager', the main criteria are that you have been appointed as a manager of an Austria-based company and are employed at a minimum salary of EUR 2,500 per month. This corresponds to approx. EUR 800 per month in effective costs for taxes and social security contributions.
A spouse and children under 18 years can be included in an application. The processing time for applications under this category is normally not more than about 3 months.
For both categories, the residence permits can easily be renewed.
Key Advantages of Austria
• Opportunity to establish residence as a person of independent means
• Austrian residence permit gives visa-free access to all Schengen States
• Under Citizenship-by-Investment no need to spend any particular time actually residing in Austria
• Citizenship may be available after 10 years of residence
• Citizenship-by-investment possible without prior residence for substantial investors
• Attractive lifestyle and healthy environment
• Excellent transport and communications