One of the members of the European Union and one of the most developed countries in the world, Austria boasts of a very high standard of living. It also has a very stable economy and a rich culture. Austria, one of Europe’s wealthiest countries and one of the most attractive and well-developed countries in the world to live in, makes for an outstanding place of residence.
Austria Residency Overview
Austria offers 10 types of residence permits for the applicants and their families. The permits do not require an investment obligation and therefore the total costs of the residence permit application are comparably low. An Austrian residence permit allows visa-free travel to the Schengen area and the processing time can take from three to fourteen months, depending on the type of permit.
Citizenship is also possible to obtain where an applicant actively invests by economic contributions in the Austrian economy.
The grant of citizenship is subject to the discretion of the Austrian federal government. In general, a minimum of six and up to ten years of uninterrupted residency is normally required before one can apply for Austrian citizenship, depending on the category of the residence permit. Knowledge of the German language is required, as well as of relinquishment of all other citizenships.
Austria offers many ways to obtain a residency permit. One of them is participating in the program for financially independent applicants.
The country’s program for financially independent applicants allows you to obtain residency for you and your family without
any additional obligations. This opportunity will mainly interest investors and business owners.
Living in Austria on the basis of a residency permit will give you an opportunity to later apply for permanent residency and Austrian citizenship.
What are the requirements for Austrian Residency?
Residence for Persons of Independent Means
A permanent residence for Persons of independent means can be provided if he can prove liquid assets of 80,000 Euros along with associated requirements such as insurance and place of residence in Austria.
Residence and Work Permit as a Key Manager
A person can apply for a Resident permit as a Key Manager if appointed as a Manager in a company based in Austria for a minimum salary of 2500 Euros per month. The permit is granted for a year but can be extended every year.
Individuals who have been residents in Austria for more than 7 years or 10 years (in certain cases) can claim Austrian citizenship. An Austrian residence permit also does not come with any burden for actual residence in Austria.
Applicant has to prove that has
- Financial independence
- A property to live in
- No criminal record or serious illness
- Knowledge of the German language (A1 level)
Empire with its team of experts can guide you according to individual needs to fulfill your aim of acquiring an Austrian Resident permit.