Tram in front of Burgtheater, Vienna/Austria

Austria: Citizenship by Investment 2024

Austria: Citizenship by Investment Guide 2024

Austria offers a highly exclusive citizenship by investment program, designed for ultra-high-net-worth individuals who can make substantial contributions to the Austrian economy. Austria’s pathway to citizenship requires not just a significant financial investment, but also a demonstration of “extraordinary merit.” This can include contributions to the arts, sciences, or sports, or a direct investment in a business that creates jobs or boosts Austria's export sales.

The investment required is substantial, typically starting from around €10 million for business ventures, or between €2 million and €3 million for donations to approved social projects. This investment must have a clear and direct positive impact on the Austrian economy. The program is known for its stringent selection criteria and a lengthy process that can take between 24 and 36 months to complete.

Break Front has team of legal experts that can guide you through the process.

Country Info

Population: Approximately 9 million (as of 2023).

Economy: Austria has a well-developed and diversified economy, with major industries including machinery, chemicals, vehicle manufacturing, and tourism. As a member of the European Union, Austria benefits from strong trade links within Europe and globally. Its financial services, agriculture, and energy sectors also contribute significantly to its economy.

Government Type: Federal parliamentary republic.

Official Language: German (Austrian German), with recognized minority languages such as Hungarian, Slovenian, and Croatian.

Geographic Position: Located in Central Europe, Austria is landlocked, bordered by Germany, Czech Republic, Slovakia, Hungary, Slovenia, Italy, Switzerland, and Liechtenstein.

Currency: Euro (€).

Capital: Vienna.

Time Zone: Central European Time (CET), UTC +1; Central European Summer Time (CEST), UTC +2 during daylight saving time.

Climate: Austria has a temperate and alpine climate, characterized by cold winters and mild summers, with heavy snowfall in mountainous regions.

Life Quality Index

Safety Index: 73.0 (High)

Healthcare Index: 78.0 (High)

Cost of Living Index: 68.7 (Moderate to High)

Pollution Index: 23.5 (Low)

Climate Index: 75.5 (High)

Traffic Index: 31.6 (Low to Moderate)

Property Price to Income Ratio: 10.1 (Moderate)

Eligibility Criteria

To be eligible for Austrian citizenship by investment, applicants must meet stringent criteria, including:

Significant Economic Contribution: The primary requirement is making a substantial financial investment in Austria. This typically involves a direct business investment starting from around €10 million, which must create jobs or increase export sales. Alternatively, donations to approved social projects in the arts, education, or sports, ranging between €2 million and €3 million, may also be considered.

Extraordinary Merit: Applicants must demonstrate "extraordinary merit," which can be economic, scientific, cultural, or sporting contributions to Austria. This is a critical factor in the government’s decision to grant citizenship.

Clean Criminal Record: A completely clean personal record is mandatory, including a certificate of no criminal record from the applicant's country of origin.

Comprehensive Documentation: Applicants must submit a detailed CV, business background information, financial capability proof, and impeccable references. These documents are necessary to support the application and prove the applicant's eligibility.

Government Approval: Citizenship is granted at the discretion of the Austrian government. The application process involves multiple levels of government approval, and the overall process can take between 24 to 36 months to complete.

Abandonment of Current Citizenship: Generally, Austrian law requires applicants to renounce their current citizenship unless an exception is granted under specific provisions, allowing them to retain dual citizenship.

Investment options

Austria's Citizenship by Investment program offers several investment options designed to attract individuals who can make a substantial economic contribution to the country. Here are the main options available:

Direct Business Investment:
- Amount: Typically starts from around €10 million.
- Details: This option involves making a direct investment in an Austrian business. The investment should create jobs, contribute to Austria’s economic growth, or increase export sales. This type of investment must demonstrate a significant impact on the Austrian economy.
Donations to Social Projects:
- Amount: Ranges between €2 million and €3 million.
- Details: Investors can contribute to approved social projects in Austria, such as those in the arts, education, or sports. Unlike business investments, donations are not expected to generate a financial return but must support initiatives that are valued by the Austrian government.
Joint Ventures:
- Details: Another eligible option is forming a joint venture with an existing Austrian business. This investment should aim to create new jobs or boost Austria's exports. Joint ventures are particularly favored if they lead to technological innovations or other advancements in key industries.
Investments in State Development Funds:
- Details: While direct investments are preferred, contributions to specific government development funds that support various sectors of the Austrian economy may also qualify. These funds are often used to finance large-scale projects that align with the country's strategic economic goals.

These investment options are designed to ensure that applicants contribute meaningfully to Austria's economic development. Passive investments, such as purchasing real estate or government bonds, do not qualify for this program. The program is highly selective, focusing on those who can demonstrate both financial capability and a commitment to actively supporting Austria's economy

Why is Austria a good choice?

Austria is an excellent choice for those considering citizenship by investment for several compelling reasons:

Strategic Location and Stability: Austria is located in the heart of Europe, making it a strategic hub for business and travel. It is a member of the European Union, providing citizens with the right to live, work, and study in any EU member state. Austria is known for its political stability, robust economy, and high standard of living, making it an attractive destination for investors and their families.

High Quality of Life: Austria consistently ranks highly in global quality of life indices, thanks to its excellent healthcare, education, and infrastructure. The country is renowned for its clean environment, low crime rates, and a strong emphasis on cultural heritage and the arts. Vienna, the capital, is frequently ranked as one of the most livable cities in the world.

Access to the EU and Beyond: Austrian citizenship grants visa-free access to 192 countries, including all EU nations, Switzerland, and the United Kingdom. This wide-ranging mobility is highly advantageous for international businesspeople and frequent travelers.

Strong Economic Environment: Austria boasts a highly developed economy with a focus on industries such as manufacturing, technology, tourism, and finance. The country’s stable economy, coupled with its central location, provides ample opportunities for business expansion and growth.

These factors make Austria not only a desirable place to live but also a strategically advantageous location for global investors and their families

Visa-Free travel to 192 countries

Strong economy and good strategic position

Free high-quality healthcare and other public services

Beautiful nature and high-quality of life

Required documents

To apply for Austrian citizenship by investment, applicants must submit a comprehensive set of documents to demonstrate their eligibility. The required documents typically include:

Valid Passport: A current passport for the main applicant and any dependents included in the application.
Birth Certificates: Certified copies of birth certificates for all applicants, including the main applicant, spouse, and any children.
Marriage Certificate: If applicable, a certified copy of the marriage certificate.
Proof of Financial Capability: Detailed evidence showing that the applicant has the financial resources necessary to make the required investment. This may include bank statements, proof of income, and other financial documents.
Clean Criminal Record: A police clearance certificate from the applicant’s country of origin and any country where the applicant has lived for more than six months in the past ten years. This document must confirm the absence of any criminal record.
Comprehensive CV: A detailed resume that outlines the applicant’s business experience, educational background, and other relevant professional information.
Professional Reference Letters: Letters of recommendation from business associates or other reputable professionals who can vouch for the applicant’s character and business acumen.
Investment and Business Plans: Documents detailing the planned investment in Austria, including business plans, projected economic impact, and any agreements or contracts related to the investment.
Proof of Extraordinary Merit: Documentation supporting the applicant’s contributions to Austria, whether through direct investment, cultural, scientific, or charitable endeavors.
Health Insurance: Proof of health insurance coverage that is valid in Austria for the main applicant and their dependents.
Proof of Residency (if applicable): If the applicant is already residing in Austria, documents proving legal residence status may be required.
Other Supporting Documents: Additional documentation may be requested depending on the specifics of the applicant’s situation, such as evidence of language proficiency or additional financial documentation.

These documents must be prepared and submitted as part of the citizenship application process. The application also undergoes rigorous background checks to ensure all information provided is accurate and the applicant meets all the program's stringent requirements

Application process

The application process for Austrian citizenship by investment is thorough and involves several stages. Here’s a step-by-step outline:

1. Initial Consultation and Assessment

Pre-Application Consultation: Applicants typically begin by consulting with legal advisors or firms that specialize in citizenship by investment to assess their eligibility and discuss potential investment options.
Preliminary Background Check: Before proceeding, a preliminary check is often conducted to ensure the applicant meets the basic requirements, such as a clean criminal record and sufficient financial resources.

2. Investment Commitment

Selection of Investment: The applicant must decide on the type of investment they will make, whether it’s a direct business investment, a joint venture, or a donation to a social project.
Initial Investment Approval: Before making the investment, informal approvals from relevant Austrian ministries may be required to ensure the investment aligns with the country's economic goals.

3. Documentation Preparation

Gathering Required Documents: Applicants must collect all necessary documents, including proof of identity, financial records, business plans, and personal references.
Translation and Legalization: All documents must be translated into German (if not already in German) and properly legalized or apostilled as per Austrian requirements.

4. Submission of Application

Formal Application Submission: Once the investment is secured and documentation is complete, the formal application is submitted to the Austrian authorities.
Due Diligence and Background Checks: The Austrian government conducts a thorough background check, including verifying the source of funds and the legitimacy of the investment.

5. Government Review

Multi-Level Government Approval: The application undergoes review by various levels of the Austrian government, including relevant ministries and possibly the Austrian Federal Government. This stage ensures that the applicant’s contribution meets the criteria of extraordinary merit.
Interview (if required): In some cases, applicants may be required to attend an interview as part of the evaluation process.

6. Citizenship Decision

Final Decision: The Austrian government makes the final decision on the application. If approved, the applicant is granted Austrian citizenship. The government’s decision is highly discretionary and based on the applicant’s overall contribution to the country.

7. Issuance of Citizenship and Passport

Citizenship Certificate: Once approved, a certificate of citizenship is issued to the applicant.
Austrian Passport Application: The new citizen can apply for an Austrian passport, which is typically issued within a few days after citizenship is granted.

8. Post-Citizenship Compliance

Abandonment of Previous Citizenship: In most cases, Austrian law requires the applicant to renounce their previous citizenship unless an exception is granted.
Ongoing Obligations: Depending on the nature of the investment, there may be ongoing obligations, such as maintaining the business investment or continuing contributions to the Austrian economy.

The entire process can take anywhere from 24 to 36 months, reflecting the rigorous nature of the program and the high standards set by the Austrian government.

Why choose Break Front?

Global expertise with local insight: A team of seasoned local case executives, immigration lawyers, and investment specialists.

Independent service: We are not affiliated with any marketing agencies or specific projects. You’ll have access to all eligible Golden Visa options, allowing you to choose the best path for your needs, supported by the legal due diligence services of a reputable law firm.

High approval rate: We pride ourselves on our high approval rates while having successfully assisted hundreds of clients from over 25 countries.

Comprehensive support: Our dedicated onboarding and immigration teams guide you through the entire process, providing a seamless experience with a single point of contact.

Transparency: Our fees are clearly outlined and comprehensive, with no hidden costs involved in the entire process.

Privacy: Your personal information is securely stored in a GDPR-compliant database.