Foreigners have the opportunity to gain citizenship and residency in Austria through investments, although the price tag is steep. To qualify, the investment must be significant, contribute to the country’s economy, and generate employment opportunities. Austria’s citizenship by investment program sets itself apart by giving investors the freedom to select their investment, as long as it is substantial and serves the government’s interests. In addition to citizenship, approved investors can enjoy various lifestyle benefits and access diverse investment opportunities. The citizenship application process takes up to 36 months, but once approved, citizenship is granted immediately.
The usual minimum investment required for citizenship by investment in Austria is €10 million when invested directly into a business, or €3 million as a contribution to the government development fund. However, the investment amount is not fixed, and every application is evaluated on a case-by-case basis.
Applicants seeking Austrian citizenship through the Austria Golden Visa are required to renounce their original citizenship, as Austria does not permit dual citizenship. Moreover, the strict quota limits the number of annual approvals for the Austria Golden Visa to only 300, making it a significant deterrent for prospective applicants.
Applicants can include their spouse and children in their application for Austrian citizenship by investment, granting them the same privileges as the primary applicant. This means that the whole family can benefit from the opportunities and advantages of being an Austrian citizen, including access to top-quality education, healthcare, and social services. Additionally, family members can also benefit from the freedom of movement within the European Union, which allows them to live, work, and study in any of the EU member states. This can provide significant benefits and opportunities for families who wish to expand their horizons and explore new possibilities. The entire Austria Golden Visa application process can take around 36 months to complete and have citizenship granted.