Residency by Investment in Austria - Legal Advice for Immigration Issues
Obtain Investor Visa in AustriaUpdated on Monday 26th September 2022
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Because there are no passive investor visas, foreigners who want to settle in this country can apply for residency by investment in Austria or citizenship by investment. Although many European countries have adopted the Golden Visa system, Austria has preferred to implement other types of programs to attract foreign investors. With the help of our lawyers in Austria, foreign nationals can better understand what an Austrian investment visa entails. Our experts can help you immigrate to Austria.
Residency by investment in Austria
If the Austrian investor visa is not valid, foreigners interested in residency by investment in Austria can apply for the Austria Private Residence Program which involves the following:
- Minimum investment of EUR 40,000 is required to access the above-mentioned program which can be considered Austrian investment visa. If you want to move to Austria with your family, you need to prove that you have at least EUR 80,000 in your account.
- The money to be invested must be deposited in a bank account in Austria.
- Applicants must provide proof of residence in Austria, either purchased or rented.
- Full health insurance is required to access the Austria investment visa.
- The application and the necessary documents are submitted to the embassy or consulate in the country of origin. Our Austrian lawyers can offer you legal advice in order to avoid possible rejections.
- Applicants must have a minimum knowledge of German, especially A1 level.
- Once a residence permit has been issued in Austria, foreign nationals must personally pick up this important document. Our lawyers can represent and act on your behalf if you are unable to travel. You can ask for Austrian startup visa or residency by investment in Austria.
These are some of the formalities to consider if you are interested in investing and obtaining a residency by investment in Austria. As there is no Austrian investor visa, foreign citizens can apply for other programs to establish their activities in this country. We invite you to talk to attorneys in Austria and find out all the details in this case. They can also help you relocate and apply for residency by investment in Austria.
The advantages of residency by investment in Austria
Foreigners who want to immigrate and obtain residency by investment in Austria will receive various benefits. These include unrestricted access to the Schengen Area, application for Austrian citizenship after 10 years of living in this country, above-average living conditions, and access to most medical facilities and services. As the Austria Private Residence Program is a special one, the authorities choose only 300 applicants each year. Those interested in Austrian immigration by investment and dedicated programs can get in touch with our lawyers in Austria.
What does citizenship by investment in Austria entail?
With an investment of EUR 3 million, as a minimum contribution, foreign citizens can obtain Austrian citizenship which comes bundled with a number of benefits. Free movement in about 188 countries, including those in the Schengen area is one of these advantages. This is done with the Austrian passport, and the respective citizens do not need visas.
If you also want to know more about citizenship by investment in Austria you can contact our specialists with experience in immigration issues. They are also the ones who can explain to you what Austrian entrepreneur visa entails and the formalities about how to move to Austria.
Requirements for Austrian self-employed visa
The Austrian self-employed visa can be accessed by foreigners who want to work on their own in this country. There are a number of formalities that must be respected, and among them we mention:
- Third-country citizens must apply for the Red-White-Red Card for self-employed.
- If you want to make an investment with the help of the Austrian self-employed visa, the minimum capital is EUR 100,000 or to create jobs on the Austrian labor market.
- Also, in order to obtain the Red-White-Red Card for self-employment, the respective business must be of considerable significance for the respective area.
- The Local Administrative Authority is in charge of the necessary approvals for the Austrian startup visa.
Documents to obtain an Austrian Business visa
In addition to the valid passport, a birth certificate is required, which must be recognized by the Austrian authorities. Health insurance is required to cover any kind of risks and to be valid throughout the Schengen territory. To be able to prove means of subsistence, you can present employment contracts, payrolls, retirement or insurance benefits or sufficient personal assets. The authorities will also ask for a clear criminal record and more precisely police records.
Besides the documents mentioned above, you also need to prepare documents that certify that you have the necessary qualifications to be able to work as self-employed. Furthermore, these documents must be translated into German or English and then legalized.
Those who want more information about the Austrian startup visa can contact our specialists. We have lawyers who can take care of the formalities mentioned above so that you can quickly obtain an Austrian self-employed visa.
What other formalities are required for the Austrian startup visa?
Regarding the documents for the Red-White-Red Card for self-employment, they must be submitted to the Public Employment Service. This department is entitled to do a macroeconomic analysis to highlight the benefits if you want to open a business and work with the Austrian startup visa.
Attention is also focused on the security of the jobs that a foreign entrepreneur can offer on the market. If all these formalities have the green light, then the Austrian business visa can be obtained. You can discuss more about the self-employed visa and residency by investment in Austria with one of our lawyers.
Validity of a Red-White-Red card for self-employers in Austria
The Red-White-Red card is valid for 2 years, after this period you can apply for a settlement permit that is valid for 3 years. We remind you that you can benefit from the legal support of our team of lawyers in Austria, to obtain the necessary documents in a relatively short time.
Austrian startup visa and financial requirements for founders
Startup founders in Austria can make an investment of EUR 50,000 to benefit from the Red-White-Red card. This type of document is addressed to third-country citizens who must prove that the respective business is based on innovation and will bring significant support to the Austrian economy.
Once these aspects are approved, Austrian startup visa is issued by the authorities. All the formalities and paperwork can be entirely managed by our local specialists with experience in immigration and applying for residency by investment in Austria.
Moving to Austria as a manager
Even if this is not a residency by investment options, many foreign citizens who are qualified can relocate to Austria under this program provided that they obtain a management role with a minimum salary of 2,500 euros per month in a local company.
This program also enables family immigration, and it represents one of the fastest ways of moving to Austria.
Why do foreign investors come to Austria?
Austria is one of the most stable economies in the world and boasts one of the most skilled labor forces in Europe which are some of the most powerful arguments foreign investors rely on when choosing to open companies here. Also, Austria offers one of the most favorable set of foreign investment legislations in the world which is what makes and will make the country one of most attractive places to do business in. Among the industries bound to grow in the following years, analysts say that banking, transportation and agriculture are highly to render the best returns on investment.
Advantages for those who want to invest in Austria
Apart from the legislation and industries in which foreign investors can set up businesses in Austria, the country’s strategic location in Europe and being a member state of the European Union (EU) are also good reasons to choose to set up new operations or to expand existing ones here.
Austria follows all EU regulations and mechanisms which enable them to focus on their business without having to comply with additional requirements. Of course, the local government also has specific laws and rules to abide by, however, these are harmonized with EU ones, so they are easier to follow.
Apart from these, Austria also follows other regulations such as those imposed by the Organization for Economic Cooperation and Development (OECD) and the World Trade Organization (WTO).
Other advantages of Austria’s economic environment are:
- a quick company registration procedure which resembles those of other European countries which favors investors from neighboring countries,
- the fair and equal treatment offered to foreign investors helps them have an increased confidence in the rules applied locally,
- the favorable taxation of individuals and companies (the corporate tax rate is 25%),
- the highly specialized workforce which also comprises many foreigners,
- the safe business environment and economic and fiscal stability,
- the fact that it has the 4th most important purchase power at the level of the EU.
As mentioned above, the country has strategic position bordering important European economies, and thus enabling direct access to regional markets is also a noteworthy reason to invest in Austria.
Starting a business in Austria
Even if there is no need for an Austrian business visa, foreigners can easily open and develop a business in this country. Being one of the most appreciated countries in the world in terms of economy and excellent living conditions, Austria offers a multitude of possibilities to foreign citizens. Highly developed industries and infrastructure, a stable business climate, and the ease with which a business registers are the most important benefits offered by Austria. Located at the intersection of Eastern and Western Europe, the country absorbs a large amount of foreign investment each year. Below you will find some statistics that show the business direction of Austria:
- The 2020 Doing Business report ranked Austria 27th out of 190 world economies in terms of business conditions and climate.
- Over 50% of foreign investment in Austria in 2020 has been absorbed by the professional, technical, and scientific sectors.
- About USD 194 billion was the total FDI recorded in Austria in 2020.
- Switzerland, the UAE, Italy, the UK, and Japan are among the largest foreign investors in Austria.
- Preferential loans, tax incentives, and grants are offered to foreign investors in Austria.
Therefore, those interested in residency by investment in Austria can contact our law firm in Austria. Let us help you with legal advice about Austrian entrepreneur visa and about how to relocate to Austria.