Art 10 (6) of the Austrian Citizenship Act (StbG) stipulates that Austrian citizenship may be granted if the federal government confirms that the granting of citizenship to the applicant is in the interest of the Republic of Austria due to his/her extraordinary past or prospective achievements. Such achievements, among others, may include investments, development and implementation of innovative technologies, or creations of a significant number of new jobs.
In this case the following general conditions do not apply:
- uninterrupted legal residence
- proof of German language skills
- knowledge of the democratic system and history of Austria and Vienna
- sufficient means of subsistence
- renunciation of current citizenship
Legal requirements for obtaining Austrian citizenship by investment
The main requirement for obtaining Austrian citizenship by investment is to make large scale investments in the Austrian economy, for example by setting up a joint venture or providing direct investments to a project which creates substantial amount of new jobs or generates significant export sales. Investments in government bonds or real estates do not qualify.
The applicant must provide the following documents:
- birth certificate
- marriage certificate
- police clearance certificate
- certain medical certificates
In some case additional documents may be required, such as a recommendation letter.
Austrian citizenship by investment: procedure
Obtaining Austrian citizenship by investment is a quite complicated procedure which requires approval of Austrian government. That is why it is of great importance to get a professional advice at the very beginning, before the main procedure is started.
In this regard Lexio Consult advises on the best investment opportunities, maintains connection with various state agencies and ministries so that we could duly prepare and submit the applicant’s documents for consideration. We also provide full support during an interview, if it is required.
The whole procedure may take up to two years, but in most cases this term can be decreased. After the application is approved, the applicant obtains Austrian citizenship and can apply for a passport.
The grant of citizenship falls within the Government provisions relating to official secrets, and it is neither officially published in Austria nor reported to other countries.
Advantages of Austrian citizenship
Obtaining Austrian citizenship bears no tax consequences unless Austria becomes a place of your main residence. There is no need to actually reside for any time in Austria: you can live, as an Austrian citizen, wherever you want. Austrian citizenship is considered one of the most prestigious in the world, and it gives visa-free access to most countries, including the USA. Obtaining Austrian citizenship by investment does not require the applicant to give up his present citizenship.
If you are interested in obtaining Austrian citizenship by investment feel free to contact us anytime.
A lot of useful information about Austria may be found on the official website of the European Union.