Austria golden visa 2024 + conditions of obtaining + documents and benefits

Austria is one of the richest countries in Europe that offers a very high quality of life to its people. With its amazing natural attractions and developed economy, Austria has become one of the most popular cities for immigration and residency. One of the ways to obtain residency in this country is the program Austrian Golden Visa through investment That is in today’s article in the Migration Journal completely about Austrian Golden Visa We have explained.

What is Golden Visa Austria?

Austria is one of the richest countries that provides a high standard of living for its residents. Nowadays, immigrating to Austria is very popular and it is rare to see a rich country grant you citizenship through investment. This country gives this opportunity to people who know German with its golden visa program. Golden Visa is one of the ways to invest in Austria.

Obtaining Austrian residency and citizenship is expensive and has severe restrictions. The investment made should help the country’s economy and create jobs for residents in exchange for receiving citizenship and a second passport. The minimum investment amount starts from 2 million euros.

The residence permit is initially issued for one year and can be extended after that. After 10 years of legal residence and under special conditions after 6 years, you can apply for Austrian citizenship. The entire process of obtaining a Greek Golden Visa may take about 36 months.

Read more: Immigration to Austria through asylum

Advantages of Golden Visa Austria

This visa has many benefits due to the high quality of life in Austria. You can easily travel to 191 countries with the passport of this country without a visa, including the United States of America, Germany, Switzerland, Spain, France, etc. Among its other advantages, the following can be mentioned.

• Visa-free access and travel to all Schengen areas
• Access to high quality education and health care
• You can also apply for residence for family members.
• Many investment opportunities
• Citizenship and direct citizenship of Austria
• The right to work and live and study in higher universities
• High quality of life and excellent transportation and communication
• An opportunity to establish residency as an independent person

Read more: Obtaining an academic residence in Austria

Austrian Golden Visa Eligibility Criteria

Considering the number of annual quotas for this visa, which is about 300 people, and the strict restrictions of this country, applicants must meet all the following conditions to obtain a visa and stay.

1. Be at least 18 years old.
2. Don’t have a criminal record.
3. Have at least €40,000 cash in your bank account.
4. Your German language must be at A1 level.
5. Have valid and private health insurance.
6. Residence in Austria to obtain citizenship
7. Renunciation of original citizenship to obtain Austrian citizenship
8. Provide proof of permanent residential property (purchased or rented), where they and your family will live.

Read more: Obtaining permanent residence in Austria through marriage

Austria Golden Visa investment options

The Austrian government has provided many options for investment in this country, but like other countries, it does not allow investment in real estate and government bonds for Golden Visa. The following four direct investment options are the way to obtain Austrian citizenship:

• State fund: The investment in the fund can be around 3 million euros and is mostly a financial contribution. There will be no liability and it is non-refundable.
• Risky investment: In this type of investment, applicants can see the direct return of their capital. This type will help grow the economy and create jobs and is often around 10 million euros.
• Innovative business or first priority: Applicants can start an innovative or priority business, which must be approved by the Austrian government.
• Joint venture: Applicants can invest their money on an important business or project with domestic or foreign investors in a joint venture. The amount of this type of amount is uncertain and variable.

Read more: Immigrate to Austria through the birth of a child

Investor rules

There are many rules for the investor, and even if the investment amount (2 to 10 million euros) has not been determined, the investor must meet the following basic conditions. These terms and conditions are:

• Having a major personal contribution to the local economy
• The investment should have a common effect on Austria and other parts of this country.
• After the investment, some full-time jobs should be created.
• The organization must be known.
• The investor must prove financial success and experience in the industry in which he invests.
• Applicants must be influential and well known in the industry.

Read more: Obtaining Austrian residence through work visa 2024

Documents required for Austrian Golden Visa

After you are eligible to apply for this visa, in the next step, all your documents must be completed so that you can submit your application for review and approval. The documents required for the Austrian Golden Visa are as follows:

• Valid passport and its copy
• New passport size digital color photo
• Certificate of no criminal record
• Proof of income for the last three years
• Current visa and proof of entry to Austria
• Educational certificates from educational institutions
• Birth certificate, marriage certificate, birth certificate of children and previous marriage documents (if any)
• A complete resume containing information about the place of birth, education, employment history and personal conditions of each family member (from 14 years old and above)

Read more: Austrian tourist visa

Cost and investment processing time

When applying for an Austrian Golden Visa, the applicant must pay about 700 euros per person for administrative, legal, consulting and tax costs. For married couples, the visa application fee is 1,400 euros plus administrative fees and taxes. Be sure to consider that you have to pay at least 8 to 10% extra on your initial capital.

The time required to process and approve your Golden Visa application, carry out investment matters and obtain citizenship may take between 14 and 36 months, which is completely variable.

Austrian Golden Visa application process

The process of applying for a golden Austrian visa is not as simple as we think, and it is not possible to provide a step-by-step guide for it, and it has an unclear structure. This process is long and requires the approval of many government centers and people. As a result of the decision and approval of the Austrian government, you can get the full citizenship of this country.

After accepting your application, you can immediately apply for a passport. After a few days, your passport will be issued. In order to do things as well as possible, we recommend you to get help from a professional immigration lawyer who has certification and experience in handling this type of visa.