Austria is the most peaceful countries to live, work, study and do business. The country has stable government, political situation, excellent healthcare, education, with vienna becoming an international financial centre. Recently Vienna has been rated as the most livable city in the world.
- Austria is the fourth richest country in the EU
- Excellent infrastructure with Modern and efficient public administration
- Highest quality of life, for safety and peace.
- Political stability and reliable legal system.
- Low corporate tax rate, Group taxation scheme, No wealth or trade tax
- Best universities offering english courses for students.
- Vienna being hub of most important events and conferences
Austria offers long term residence permits to non-EU third country nationals who are self employed persons and startup founders investing in Vienna or any other cities in Austria.
Austria offers residency for foreign investors ONLY under the following three categories. Once the application is successful they will be issued Red-White-Red card for long term residency with extensions.
Austria does not have golden visa scheme like Greece or Portugal, currently residency only possible investing in businesses and creating jobs. Passive investments in real estate in Austria, do not qualify for residency.
All visas and residence permits issued by Austria is valid for free movement in schengen countries and other EU member states.
1. Startup companies
Third-country nationals can apply for a Red-White-Red Card for startup founders, by meeting all three conditions below
- Innovative products, services, processes or technologies are developed or launched by the newly founded enterprise (startup) and
- Capital for the startup business in the amount of at least EUR 50,000 can be proven (at least half of which must be equity capital) and
- The applicant has considerable personal influence on the management of the planned startup business.
Family members also allowed to receive residence permit card.
The residence permit can be granted for a maximum period of 2 years with possible extensions thereafter. The application fee costs EUR 120.
2. Self Employed
Austria offers Red-White-Red card for self-employed key workers if their occupation in Austria provides an overall economic benefit going beyond the mere benefit of the company. This is, in particular, the case if:
- The occupation includes a sustainable transfer of capital investment to Austria or the intended occupation creates new jobs or secures existing jobs, or
- The company of the self-employed key worker is of considerable importance for an entire region.
A residence permit that is valid for three years can be granted after two years of residence in Austria.
The application fee costs EUR 120.
3. Highly Skilled Employees
Austrian firms hiring highly skilled employees in demand can seek residence permit under the following categories
- Very highly qualified employees
- Skilled workers in shortage occupations
- Graduates of Austrian universities
Red White Red Card plus” (“Rot-Weiß-Rot-Karte plus”) can be issued at the earliest after two years of permanent residence and further occupation as key employee. A residence permit that is valid for three years can be granted after two years of residence in Austria.
The application fee costs EUR 120.
The Austrian federal government fixes an annual immigration quota for each federal province and each type of residence permit when issued for first time
- Quota for family reunification Red-White-Red Card plus or limited leave to remain
- quota for limited leave to remain excluding employment
- quota for changing the purpose of stay from indefinite leave to remain for dependants to indefinite leave to remain “Red-White-Red Card plus
- mobility quota
Red White Red Card (RWRC)
The Austrian Government introduced Red-White-Red-Card (RWRC) card equivalent of indefinite leave to remain introduced on 1 July 2011.
There are three categories:
- for very highly qualified employees)
- for skilled workers in shortage occupations)
- for other key employees – graduates of Austrian universities and self-employed key workers
The Red-White-Red-Card-Plus (RWRCP) is another type of card equivalent to indefinite leave to remain with no restrictions in Austria
EU Permanent residence permit is possible to third country nationals after 5 years of living and satisfying language and integration requirements.
Foreign nationals who wish to acquire a property, building right or an easement (such as a right of habitation) in Vienna need a permit to guarantee the validity of the legal transaction. All types of legal transactions such as contracts of sale, deeds of gift and easement agreements are covered under these regulations. The applicant must provide proof that the legal transaction is of social, general economic, or cultural interest.
Austrian citizenship can be acquired after 10 years of legally living in Austria. Naturalized citizens must renounce previous citizenship as Austria does not allow dual citizenship.
Austria has a provision in citizenship law to grant exceptional citizenship in the state for arts, sports, culture, research and economic activity
Austrian passport is one of the most powerful european passport in the World.