Austria
Austria, Austria, an exceptional place to reside by offering a high quality of life, is among Europe’s most affluent nations due to its robust and stable economy, where citizens enjoy a high standard of living.
Steps and Timeline for Acquiring Austrian Citizenship through Investment:
Because the journey of obtaining permanent residency in Austria through the Red-White-Red Card Plus program can be complex and immigration laws and requirements change frequently, we highly recommend the engagement of an immigration lawyer or a consulting firm such as CBP Invest.
- Eligibility assessment:
- Investment:
- Application process:
- Processing time:
- Approval:
- Oath of allegiance:
Acquiring Austrian citizenship through investment can be a complicated process requiring a clear understanding of the steps and timeline. The following is a brief overview of the details and timeline of acquiring Austrian citizenship through investment:
1) Eligibility assessment: Determine if you meet the eligibility requirements for Austrian citizenship through investment: minimum residency period, investment amount, and financial stability.
2) Investment: You must make a required investment in the country once you have confirmed your eligibility. Investment alternatives include real estate purchases, investing in a business, or making a financial contribution to the Austrian government.
3) Application process: The next step is to start the application process for citizenship after investing, typically involving submitting a formal application to the Austrian government along with supporting documentation, such as proof of investment, background checks, and evidence of residency.
4) Processing time: The processing time for Austrian citizenship by investment application can vary, depending on the complexity of the application and the workload of the government processing center. Typically, it can take several months to over a year before completion.
5) Approval: If successful, you will receive an official certificate of citizenship from the Austrian government upon review of your application.
6) Oath of allegiance: The final step is to take the oath of allegiance. Afterward, you will officially become an Austrian citizen. It is important to note that specific requirements and timelines for obtaining Austrian citizenship through investment may vary. Therefore, we highly recommend you seek the guidance of a professional immigration consultant or attorney for detailed information on the process.
Steps and Timeline for Acquiring Austrian Residency through Investment:
Foreign individuals can obtain permanent residency in Austria through the Red-White-Red Card Plus program, created to attract highly skilled individuals and entrepreneurs who can make remarkable contributions to the Austrian economy.
An applicant must meet the following requirements to qualify for the Red-White-Red Card Plus program:
1) Investment: Making a significant investment in an Austrian company, either by starting a new business or acquiring an existing one, creating new job opportunities for Austrian citizens.
2) Job creation: Creating new job opportunities for Austrian citizens whereby the number of jobs created is proportional to the investment size.
3) Language proficiency: Demonstrating a sufficient level of German language proficiency to integrate into Austrian society.
4) Integration: Proving familiarity with Austrian culture, values, and social norms and commitment to integrating into Austrian society.
Citizenship:
The Austrian Citizenship by Investment (CBI) program, officially known as the Austrian Citizenship Act (StbG), is a citizenship program that allows individuals to obtain Austrian citizenship through investment.
The Austrian CBI program, among the oldest and most reputable CBI programs, designed for high-net-worth individuals willing to invest a significant portion of their wealth in Austria and contribute to the country’s economy, was introduced in 1985.
It’s important to note that the Austrian CBI program considered one of the most selective and exclusive programs in the world, has an investment requirement significantly higher than many other CBI programs.
Applicants having a clean criminal record and passing a German language test must invest at least €10 million in an Austrian business or a government-approved investment fund and meet other eligibility criteria, to be eligible for the Austrian CBI program.
The application process can take up to two years, including a thorough background check and an interview with Austrian officials.
Austrian citizenship provides several benefits, including visa-free travel to over 180 countries, access to high-quality healthcare and education, and the ability to live and work in any EU member state.