Austria

Citizenship-by-Investment Program

Austria, is considered as one of the wealthiest and most stable countries in Europe. The country has a rich history and culture and its capital, Vienna, is regarded as one of the most livable cities in the world. According to Art. 10 (6) of the Austrian Citizenship Act, the government can reward foreign persons with citizenships and passports in the event of extraordinary merit, such as a substantial economic contribution to the country. The Austrian passport is in fact one of the best travel documents world-wide. With the status of an Austrian and EU citizen, successful applicants can enjoy the benefits of visa-free access to 186 countries, and the right to live, work, and study in any country of the European Union.

Official Name: Republic of Austria

Capital: Vienna

Region: Central Europe, north of Italy and Slovenia

Official Language: German

Surface Area: 83,871 km²

Population: 8,793,370 inhabitants (July 2018 est.)

Currency: Euro

GDP: $441 billion (2017 est.)

GDP per Capita: $50,000 (2017 est.)

Member of European Union: yes, since 1995

Member of Schengen-Area: yes, since 1997

Henley Passport Index: Ranked 5th with 186 destinations visa -free access

Benefits

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Full citizenship and passport for life are granted to the applicant and family dependants (spouse and children up to 18 years of age)

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Citizenship can be passed on to future generations by descent

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Settlement rights in all the EU member countries and Switzerland

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Freedom of work and study in the EU

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No prior residence requirements

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Visa-Free travel access to 186 countries including EU, United States, United Kingdom, Singapore, Hong Kong, United Arab Emirates, and other countries

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Access to investment and business opportunities in the EU

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Austria is an attractive place as it has an excellent quality of life and a stable political system

Requirements

The foreign investor is required to make a substantial economic contribution to the Austrian economy in the form of a joint venture, or a direct investment in a business creating jobs or generating new export sales. Capital contributions are not sufficient to qualify for the citizenship, rather, foreign investors must make an extraordinary contribution alongside the investment, for instance bringing new technologies to the country or creating a substantial number of new jobs. Passive investments in government bonds, real estate, etc. generally do not qualify.

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Furthermore, the dependents of the main applicant must demonstrate basic knowledge of the German language.

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In addition, all applicants must be free from criminal record, fraud, malpractice, financial fraud or indemnities.

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Finally, the application requires government approval at various levels, eventually at the highest level.

Process

The processing time is based on the individual’s case, however, applicants can expect a process that can generally take at least 24 months. It is a delicate process that requires a meticulous level of focus on the detail and structuring of the investment, as well as approvals from key authorities. Hence, it is advisable to consult experts with a track-record of successful cases and experience. Bellevue Zurich advisory is at your service to make the process smooth and efficient.

Costs

The application costs are linked to substantial service fees and other expenses that depend on each application individually. Hence, please contact us to receive a private consultation so we can offer you a defined personalized layout of the application procedures and costs.

Important Points to Consider

The grant of citizenship is not published and not reported to any other country, as it falls within the Government provisions relating to privacy/official secrets.

Generally, the Austrian Citizenship Act does not allow dual citizenship, therefore the country will require a renouncement of the current citizenship as a requirement to award the Austrian citizenship. However, in the case that the applicant obtained the Austrian citizenship under the citizenship-by-investment program, the prior citizenship can be still held.

Once the applicant has obtained an Austrian citizenship via this route, a further citizenship cannot be acquired without losing the Austrian citizenship. In extraordinary cases, a special permission may be obtained to remain an Austrian citizen.

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