How to Get Austrian Citizenship by Investment?
Getting an Austrian citizenship is easy when you can prove that you are a descendant of a Holocaust survivor who fled from Austria or if you have been residing there continuously for ten years. Other pathways to Austria citizenship are through marriage or through a work visa. If you are a skilled worker and get a job as a manager in an Austrian company with a monthly salary of not less than 2500 EUR, you can apply for Residence Permit, which paves the way for citizenship by naturalization.
If these pathways do not apply to your situation, the other option towards Austria citizenship is by making an investment in Austria’s economy. This write-up takes a closer look at how to get Austrian citizenship by investment.
Entrepreneurship visa category
Many countries offer citizenship by investment option and have entrepreneur visa or golden visa programs for foreign citizens who can contribute to the country’s local economy. Israel started the entrepreneur visa category for US citizens in 2019. Given the fact that startups provide a massive boost for local economies countries across the world are offering fast-track pathways to citizenship and residency through entrepreneurship visas programs. These programs are aimed at wealthy individuals who have an entrepreneurial drive and feasible business ideas. Our offices assist you in obtaining startup and other pathways of obtaining visa in many EU countries including Greece, Portugal, Poland, Spain, Denmark, the Netherlands, Latvia, Ireland and France among others.
The key criteria are for the applicant to invest a specified amount that varies based on the country.
Austrian citizenship by investment
Here is more information on how to get Austrian citizenship by investment:
The Austrian government has a ‘Red-White-Red’ card category for startup founders from foreign countries. As a third-country national, it is possible to apply for this visa category by fulfilling a set of criteria that includes:
- Establishing a company to develop and launch innovative services, products, technologies or processing methods in the Austrian market
- Submitting a consistent business plan to establish and operate such a company in Austria
- Being able to exert controlling influence personally on the startup company’s management
- Proving startup capital for the new company of a minimum of € 50.000 minimum and a minimum equity share of 50 percent
- Scoring a minimum of 50 points based on eligibility criteria including:
- Academic qualification – Completing a vocational training with specific skills in the domain of the startup or a three-year program at a tertiary education institution can earn you 20 points. Completing a doctor’s, master’s or bachelor’s degree or diploma in Austria provides 30 points.
- Work experience – Each year of relevant work experience earns 2 points with the maximum points in this category being 10 points.
- Language skills – Competent knowledge of German gets you 15 points while independent use of English and German is awarded 10 points each. Elementary German skills earns 5 points.
- Bonus points are awarded if additional investment of € 50.000 is made or if the startup is funded by an agency in Austria. If your age is equal to or less than 35 years, you can get 10 bonus points.
- While the total points add up to a maximum of 85 points, you will require a minimum of 50 points to be eligible for applying for startup visa category in Austria.
Contact our emigration experts
The law offices of Cohen, Decker, Pex and Brosh can help you obtain an Austrian citizenship as well as citizenship to other EU countries, Canada and the US. We can guide you on the elaborate process of applying for Austria citizenship by making an investment. From assisting you in assessing your eligibility to preparing and filing relevant documents, we are with you every step of the way.