Residence permit in Austria

RESIDENCY IN AUSTRIA FOR FINANCIAL INDEPENDENT APPLICANTS

Austria is a European Union country with a high standard of living and a developed market for goods and services. Here business and tourism are at a high level.

The country is integrated into the European and world community. All these advantages are available to not only citizens but those who live there as well, i.e. holders of a residency permit.

Austria offers many ways to obtain a residency permit. One of them is participating in the program for financial independent applicants.

The country’s program for financial independent applicants allows you to obtain residency for you and your family without any additional obligations. This opportunity will mainly interest investors and business owners.

Advantages of Austrian residency for financial independent applicants individuals

Live there year-round and travel around visa-free – Austrian residency gives you the right to live year-round in Austria, and also to visit other countries in the Schengen area visa-free
Your entire family gets residency too – A residency permit is granted at the same time to both the main investor and members of his/her family, including dependent children
No requirements to reside there or establish tax residency – Austrian residency for financial independent applicants does not oblige you to reside in Austria year-round, and thus you can choose in which country you wish to be a tax resident
The possibility of later obtaining permanent residency and citizenship – Living in Austria on the basis of a residency permit will give you an opportunity to later apply for permanent residency and Austrian citizenship

The most accessible way to obtain Austrian residency

There are only four conditions to obtain Austrian residency for financial independent applicants

Financial independence

You have to prove that you have monthly net income at least EUR 1,900 or you must hold in your account twelve times this amount which is equal EUR 22,800 (EUR 1,900 x 22).

A property to live in

A resident must have a permanent address obtained based on a deed of ownership or rental contract.

Knowledge of the German language

You must prove a basic A1 level(elementary knowledge, ability to get by).

No criminal record or serious illness

This must be attested by a document from your country’s law-enforcement authorities and a health authority.

Distributed quota across different federal states

For this residency program, the Austrian government sets a quota that is distributed across the individual territorial divisions of the country. The quota can differ from one region to another, and in the most popular regions, the quota is exhausted very quickly. Thus, the quota for Vienna is exhausted most quickly of all, and significantly more free slots are available for those who wish to live in Lower Austria or other regions.

How to obtain Austrian residency for financial independent applicants

Discus Holdings will reduce the long and cumbersome process of obtaining Austrian residency to just a few simple steps.
Initial consultation – on preparing your application and choosing an Austrian regional based on the quota
The necessary – documents are gathered.
Assistance in buying or renting a real estate property, drawing up medical insurance, and opening a bank account.
The application is submitted to the Austrian consulate, and then a positive decision is received.
You arrive in Austria, register at your place of residence, and receive your residency permit.

You will need:

a birth certificate
a color photocopy of each passport page
two photographs, with the same format as for a Schengen visa
a bank statement or other proof of income
marriage/divorce certificate (if applicable)
proof that you have no criminal record
(issued within the last three months before submitting the application)
attestation that you do not suffer from a serious illness, issued by a recognized authority in Austria
A1 language exam

Birth, marriage, or divorce certificates as well as the proof that you have no criminal record should be apostilled and translated into German by an Austrian sworn translator.

Conditions for extending your residency permit and receiving Austrian citizenship

Your residency status in Austria must be extended. Temporary residency is initially offered for a period of one year, and then extended as 1 year + 1 year + 3 year + 5 year. After five and a half years, you can submit an application to receive Austrian citizenship.

In practice, residents usually become citizens after a period of 6–10 years.

With our help you can obtain results considerably more quickly.

RP issuing for 1 year
RP extending for 1 year
RP extending for 1 year
RP extending for 3 years
RP extending for 5 years

You can apply for Austrian citizenship

To receive citizenship, you will have to demonstrate the following:

Knowledge of the German language.

You must prove that you have a command of German at the B2 level (independent user, threshold or intermediate).

Knowledge of Austria’s constitution and history.

Your knowledge will be evaluated through a standard test.

Financial independence.

You must prove an income of at least €2,500 per month for the past three years. You can use any documented legal income to meet this requirement: rents paid to you, interest, dividends, etc.

Residency in Austria for financial independent applicants is an ideal solution if you plan to obtain EU citizenship in the future.