Australia Residence by Investment
An Austrian residence permit grants access without a visa to all Schengen Area states in Europe. The permit is originally issued for a year and can then be smoothly renewed without any interruptions. Following ten years of lawful residency, and in some situations after six years, there is an opportunity to apply for Austrian citizenship.
Benefits of an Austrian visa
- Discover the benefits of visa-free travel to the Schengen Area with a potential pathway to citizenship after 10 years.
- Austria offers a unique blend of tranquillity and adventure with a breathtaking natural landscape accessible for outdoor activities.
- Excellent transportation and communication options provide easy access to major cities while still maintaining a relaxed, healthy lifestyle.
Austria visa requirements
The Austria Private Residence Program has an annual quota of approximately 300 individuals. Therefore, a limited number of applicants will be selected. To be considered for the program, applicants must meet specific requirements, including
- Having at least EUR 40,000 in liquid funds
- Providing proof of permanent residential real estate for themselves and any dependents, along with private healthcare insurance.
- Applicants must also demonstrate German language skills at the A1 level.
Additionally:
- Applicants must personally submit all mandatory documentation to the Austrian consular or diplomatic representation in their current country of residence.
- Once their residence application has been approved, applicants must secure a special visa from the Austrian embassy, allowing them to travel to Austria and collect their residence permit from the relevant authority.
Procedures and time frame of the Austrian visa
During the application process, it is required that applicants present their mandatory documentation in person at the Austrian consular or diplomatic representation in their current country of residence. It is important to note that strict quota constraints apply to certain residence permits, making it crucial for applicants to submit their applications on time. After the permit is granted, the applicant will need to obtain a special visa at the Austrian embassy, which grants them permission to travel to Austria in order to collect their residence permit from the relevant authority.
Application processing time is generally one month, with an average of three months for approval. Once the residence permit is issued, the applicant will need to collect it in person from the issuing authority in Austria. Additionally, all non-EU and non-EFTA citizens must sign an integration agreement if they plan to reside in Austria for over 24 months. The residence and settlement permits take the form of a card and are renewable each year.
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