Austria Citizenship by Investment

David Davies

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November 17, 2024

Austria is a Central European country with a high quality of life, a stable economy and low crime rates. These factors, along with Austrian citizenship, allow the holder the freedom to live, work and travel throughout the EU with visa-free or visa-on-arrival access to approximately 190 countries, making Austria a premium location for citizenship.

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Does Austria Offer Citizenship by Investment?

Austria does offer citizenship by investment, but the CBI programme is somewhat different from traditional CBI programmes, such as those in the Caribbean Citizenship by Investment Countries.

Under Article 10 of the Austrian Citizenship Act, Austrian citizenship may be awarded to persons who make a substantial contribution to the economy of Austria. Unlike traditional CBI programmes, the award is solely at the discretion of the Austrian government. The applicant must make an investment in an Austrian business that benefits the economy of Austria, such as the creation of new jobs, technology innovation, increasing exports, or contributing to a relevant public project.

As the award of citizenship is discretionary, and the process has a long lead time, it is essential to discuss your intention to apply and seek informal guidance from the relevant government departments before committing to the investment. Even then, it cannot be guaranteed that the application will be ultimately successful.

What is the level of investment required?

There is no minimum level of investment required. However, the minimum that is generally considered is around EUR 800,000. The investment must be an active rather than passive investment, such as real estate or government bonds.

What is the process for obtaining Austrian citizenship by investment?

The application is made to the Austrian government. The investment must be approved, and the applicant must provide standard personal documents such as a passport and birth certificate, medical certificate, and a completely clean criminal record. The applicant must also provide a CV demonstrating a sound business background together with impeccable references and documentation relating to the business.

How long does the process take?

The process typically takes around 24–36 months and involves several government departments.

Can family members also gain citizenship?

Yes, citizenship can also be granted to spouses and dependent children of the main applicant.

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Is Dual Citizenship Allowed in Austria?

As a general rule, the Austrian Citizenship Act requires the applicant to renounce any other citizenships. However, applicants under Article 10 may be permitted to retain other citizenships while also becoming citizens of Austria.

Alternatives to Citizenship by Investment in Austria

Residency Options for Foreign Investors

An alternative to full citizenship in Austria is residing in the country under the various residency permits available, ranging from student permits to specific residency and work permits for various industries. There is also a scheme for ‘golden visas’ under which an applicant can obtain residency and access to the EU. The number of these is limited to around 300 per year. Applicants for a golden visa must:

show that they have at least EUR 40,000 in liquid cash in a bank account (more if family members are also applying);
provide proof of residential address (purchased or leased) where they and their dependents will live in Austria;
have private healthcare insurance; and
demonstrate German language proficiency.

Pathways to Citizenship in Austria

Alternative methods of obtaining citizenship of Austria are:

Citizenship by descent – typically requiring that the applicant has at least one parent who is an Austrian citizen
Citizenship by naturalisation – this requires, among other things, prior residence in Austria (10 years of continuous stay, of which 5 must be as a permanent resident), good character and sufficient resources to support the applicant and any family members. The exact requirements will vary from applicant to applicant.

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Caribbean Citizenship by Investment as the Best Alternative

As you can see from the above, obtaining citizenship in Austria is a long and highly discretionary process. In comparison, Caribbean Citizenship by Investment countries offers a more certain alternative and a lower level of investment. Check our website for details of these Caribbean CBI programmes.

Final Thoughts

Although Austrian citizenship is valuable, particularly due to the country’s membership in the EU, the programmes aimed at those who intend to live and work in Austria take a long time to complete. They often require German language skills, and the discretionary element of the process leads to uncertainty. If you want to live in Austria, the various routes are worth considering, but for investors looking for a passport for global mobility, wealth, and tax planning and a speedy process, it is unlikely that Austria is right for you.

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FAQs

What types of investment qualify for the citizenship by investment programme?

Investments include those that will substantially benefit the Austrian economy, such as new businesses, an Austrian branch of an existing business, or joint ventures. As the grant is discretionary, the Austrian government determines whether an investment would qualify on a case-by-case basis. Passive investments such as real estate and government bonds do not qualify.

How much do I have to invest?

There is no minimum amount but historically an investment of at least EUR 800,000 has been required. Again, this is determined on a case by case basis.

How long does it take to process an application for citizenship by investment?

Typically the process takes 24-36 months.

What documents are required?

Alongside proof of the investment: passport and birth certificate; medical certificate; and a completely clean criminal record as well as a CV demonstrating a sound business background together with impeccable references and documents relating to the business being relied upon.

Can family members be included in the citizenship by investment application?

Yes, the spouse and dependent children can be included in the application.

Are there any residency requirements for applicants for citizenship by investment?

No, although the applicant will need to demonstrate a suitable connection to Austria and spending time in Austria will be considered when determining whether this criterium has been met.

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David Davies

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David Davies

Antigua and Barbuda enjoys a tropical maritime climate, characterised by warm temperatures year-round, with an average of 27°C (81°F). The islands have a relatively dry season from January to April, with a wetter season from May to November. The islands have robust infrastructure and emergency systems in place to manage such events.

Originally inhabited by the Arawak and Carib peoples, the islands were colonised by the British in the 17th century. The cultural landscape is a blend of African, British, and indigenous influences. This rich history is reflected in local music, dance, and festivals, with calypso, reggae, and steelpan music being particularly popular. Cricket, a legacy of British rule, is the most popular sport, and sailing is also popular, reflecting the islands' strong maritime culture.

Antigua and Barbuda boasts 365 beaches, one for each day of the year, along with coral reefs, lagoons, and lush vegetation. The country’s landscape is primarily flat, with rolling hills and volcanic rock formations. The islands are also home to rich biodiversity, making them a haven for nature lovers.

Antigua and Barbuda have a stable democratic government based on the British parliamentary system. The country is generally regarded as having a manageable level of bureaucracy, with a reasonably straightforward process for interacting with government agencies. Retirees will find that essential services like renewing a driver’s licence, paying taxes, or obtaining necessary permits are relatively simple, although some processes can be slow due to limited resources. The government has been making strides in digitising services to reduce in-person visits and streamline processes.

Antigua and Barbuda is known for its lively events and festivals, particularly Carnival, one of the year's most anticipated events. Antigua Sailing Week is another major event, attracting sailors and spectators from around the world. These festivals are deeply rooted in the local culture and provide a vibrant social scene for retirees.

Dominica has a tropical rainforest climate, with high humidity and heavy rainfall, particularly on the windward side of the island. Temperatures are warm year-round, averaging 26°C (79°F), with cooler conditions in themountainous interior. The island’s lush greenery is a result of its abundantrainfall.

Dominica's culture is a vibrant mix of indigenous Kalinago heritage, African traditions, and European colonial influences, particularly French and British. The island was originally settled by the Kalinago people, and their influence is still present today, especially in the Kalinago Territory. African traditions have also left a profound mark, particularly in the island’s music, dance, and festivals. Dominica’s outdoor sports are heavily influenced by its rugged terrain, with hiking and diving being popular among locals and expatriates alike, although there is of course cricket for those with more sedentary dispositions.

Known as the "NatureIsland," Dominica is characterised by its rugged terrain, rainforests ,waterfalls, and geothermal activity. The island is home to the UNESCO-listed Morne Trois Pitons National Park, as well as numerous rivers and lakes. Dominica’s unspoiled natural beauty is a major draw for retirees who appreciate ecotourism and outdoor adventures.

Dominica’s government operates under a parliamentary democracy, with a legal system rooted in English common law. While the country’s bureaucracy is smaller and more accessible, some processes can be slow, particularly in rural areas. However, the government is generally cooperative and accommodating, particularly for expatriates. It’s advisable to have local assistance or a legal advisor to navigate more complex processes, such as property transactions or dealing with land registries.

Dominica hosts several unique cultural events, including the World Creole Music Festival and Carnival. The island’s festivals are deeply connected to its Creole heritage, offering retirees a chance to immerse themselves in local traditions and music. Dominica’s Independence celebrations also feature traditional dances, music, and cuisine.

Grenada has a tropical climate with relatively consistent temperatures throughout the year, averaging around 28°C (82°F). The dry season runs from January to May, while the wet season is from June to December. Although Grenada is located on the southern edge of the hurricane belt and is less impacted the another Caribbean islands, it is not immune to these storms as has been seen recently with Hurricane Beryl. The island has since improved its hurricane preparedness and infrastructure resilience and the value of these improvements has led to greater preparedness for such events.

The island was originally inhabited by the Arawak and Carib peoples before being colonised by Europeans. Grenadian culture is characterised by a strong sense of community, vibrant music, and dance traditions, such as calypso and soca. French influence on the island is evident in its place names and culinary traditions. Cricket and football are the most popular sports, and sailing and water sports are also widely enjoyed.

Known as the "SpiceIsle," Grenada is famous for its aromatic plantations, waterfalls, and pristine beaches. The island’s volcanic origin provides a diverse landscape of mountains, rainforests, and coastal areas. Grenada’s natural beauty is complemented by its extensive marine life, making it ideal for snorkelling and diving.

Grenada also follows a British-style parliamentary democracy. The country’s bureaucracy is relatively user-friendly, with many government processes being straightforward and accessible. Retirees generally find it easy to interact with government departments for routine tasks such as registering a vehicle, renewing licences, or paying taxes.

Grenada’s Spicemas Carnival is the island’s most significant cultural event, celebrated with colourful parades, music, and dance. The island also hosts the Grenada Sailing Festival and the Pure Grenada Music Festival, both of which attract international visitors. These events provide a lively social calendar for retirees.

Saint Kitts and Nevis has a tropical climate, with temperatures ranging between 24°C (75°F) and 31°C (88°F) throughout the year. The islands have a dry season from December to April and a wet season from May to November. Located within the hurricane belt, Saint Kitts and Nevis is vulnerable to hurricanes, especially between June and November, but the islands have strong building codes and disaster response plans in place to reduce the impact of the senatural events.

The cultural heritage of Saint Kitts and Nevis is shaped by its history of indigenous Carib and Arawak inhabitants and European colonisation. Saint Kitts was the first Caribbean island to be colonised by the British, and Nevis has a rich history as a major sugar producer. The islands' cultural roots are a blend of African, British, and French influences, reflected in the local cuisine, music, and festivals. Cricket and football are deeply ingrained in the local culture and, along with sailing and hiking, are integral to the islands' cultural life.

The twin islands of Saint Kitts and Nevis are known for their volcanic mountains, rainforests, and beaches. The islands are home to the UNESCO World Heritage site of Brimstone Hill Fortress and offer stunning views from places like Mount Liamuiga. The islands’ natural beauty is one of their strongest appeals to retirees.

Saint Kitts and Nevis operates under a stable parliamentary democracy, with governance structures similar to those of other Commonwealth countries. The islands have a relatively low level of bureaucracy, and dealing with the government on a day-to-day basis is generally straightforward. Most routine administrative tasks, such as obtaining permits, paying taxes, or registering property, are manageable, although some processes can take longer than expected due to limited staffing. The government is trying to modernise its operations, including digitising more services, which should help reduce delays and improve overall efficiency.

The islands of Saint Kitts and Nevis host several vibrant festivals, including Carnival, the Saint Kitts Music Festival, and Culturama, which is unique to Nevis. These events celebrate local culture, music, and heritage, offering retirees plenty of opportunities to engage with the community and enjoy local traditions.

Saint Lucia enjoys a tropical climate with warm temperatures year-round, typically ranging from 25°C (77°F) to 30°C (86°F). The dry season extends from December to May, while the wet season is from June to November. Saint Lucia is situated near the edge of the hurricane belt, making it prone to hurricanes and tropical storms but less so than those further north. The government has invested in improving hurricane preparedness and infrastructure resilience to protect the island from future storms better.

Saint Lucia's culture is a unique blend of African, French, and British influences, reflecting its complex history of colonisation. The island was originally inhabited by the Arawak and later the Carib people, before being contested by the French and British for centuries. The French influence is particularly strong in the island's Creole language, cuisine, and Catholic traditions, while British colonial rule has left its mark on the legal system and sports, particularly cricket. The island’s dramatic landscapes, including the iconic Pitons, provide a stunning backdrop for outdoor sports like hiking and diving, which are popular among locals and retirees alike.

Saint Lucia is famous for its dramatic Pitons, volcanic peaks that rise sharply from the sea. The island’s landscape includes rainforests, beaches, andSulphur Springs, the Caribbean’s only drive-in volcano. Saint Lucia’s natural beauty is among the most striking in the Caribbean, attracting retirees who enjoy outdoor activities and scenic views.

Saint Lucia’s government is a parliamentary democracy, and the country has a reputation for a relatively efficient bureaucracy compared to other Caribbean nations. For retirees, dealing with the government is typically hassle-free for most day-to-day tasks like renewing a driver’s licence, paying taxes, or obtaining residency permits. Saint Lucia has been proactive in improving its e-government services, allowing for easier access to information and quicker processing of certain requests online.

Saint Lucia is famous for its Jazz and Arts Festival, which attracts international artists and music lovers. The island’s Carnival is another major event, featuring parades, music, and dancing. Additionally, the La Rose and La Marguerite festivals celebrate the island’s unique cultural heritage, offering retirees a rich cultural experience.

Austria Citizenship by Investment

Does Austria Offer Citizenship by Investment?

What is the level of investment required?

What is the process for obtaining Austrian citizenship by investment?

How long does the process take?

Can family members also gain citizenship?

Is Dual Citizenship Allowed in Austria?

Alternatives to Citizenship by Investment in Austria

Residency Options for Foreign Investors

Pathways to Citizenship in Austria

Caribbean Citizenship by Investment as the Best Alternative

Final Thoughts

FAQs

What types of investment qualify for the citizenship by investment programme?

How much do I have to invest?

How long does it take to process an application for citizenship by investment?

What documents are required?

Can family members be included in the citizenship by investment application?

Are there any residency requirements for applicants for citizenship by investment?

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