Austria is one of Europe’s wealthiest countries, offering a very high quality of life to its people. With awe-inspiring natural attractions and a well-developed and stable economy, Austria makes for an outstanding place of residence.
Austria is an outstanding place to take up residence. For German-speaking persons of independent means (who cannot take up gainful employment in the country), Austria offers the opportunity to become resident in an EU member state and gain visa-free access to Europe’s Schengen Area through certain strict requirements.Enquiry Factsheet
Minimum EUR 40,000 liquid funds, German language skills, permanent accommodation, private healthcare insurance, and financial independent means
One–three months from submission of the application to approval
The right of free movement to Austria, the rest of the EU, and Europe’s Schengen Area
An Austrian residence permit allows you to travel to all Europe’s Schengen Area states without 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.
Only a select number of applicants will be chosen, due to the strict annual quota of around 300 individuals in place. To acquire residence under the Austria Private Residence Program, applicants must fulfil all the following requirements. They must:
Applicants are also required to:
In the course of the application process, applicants must personally submit mandatory documentation to the Austrian consular or diplomatic representation in their current country of residence. Due to the strict quota constraints for some residence permits, timing of the submission of the application is of prime importance. Once the permit is granted, the applicant must pick up a special visa at the Austrian embassy, which allows the applicant to travel to Austria to collect the residence permit at the relevant authority.
There is a minimum processing period of one month, but applications usually take three months to be approved. Once the residence permit is issued, it must be collected in person from the issuing authority in Austria. In addition, all non-EU and non-EFTA citizens must sign an integration agreement if they will be residing in Austria for more than 24 months. The residence and settlement permits are issued in the form of a card and can be renewed each year.
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