Austria is one of Europe’s wealthiest countries, offering a very high quality of life to its people. With awe-inspiring natural attractions and a well-developed and stable economy, Austria makes for an outstanding place of residence.
Benefits of Austria citizenship by investment
· Visa-free or visa-on-arrival travel to 189 destinations
· The right to reside anywhere else in the EU and Switzerland
· High quality of life
· Excellent transport and communications
Requirements of Austria citizenship by investment
Under the citizenship by investment provisions, an applicant is required to invest actively in the Austrian economy, for example in the form of a joint venture or direct investment in a business that creates jobs or generates new export sales. Significant direct investment is generally required. Passive investments in government bonds or real estate, for example, do not qualify.
In addition to standard documentary requirements (such as passports, birth, and marriage certificates), a completely clean personal record (certificate of no criminal record), a comprehensive CV, and business background information, as well as impeccable references must be provided by all applicants.
The Austrian Citizenship Act generally requires the applicant to abandon their current citizenship as a precondition for being granted Austrian citizenship. However, in case of a grant of citizenship under the provisions of Article 10 (6) of the Citizenship Act, the former citizenship can be legally maintained, that is, the applicant may not be required to give up their present citizenship.
Austria citizenship by investment procedures and time frame
The grant of citizenship on the basis of a capital contribution involves various procedures and requires government approval at several levels. It is therefore essential that the applicant is properly advised from the beginning, that each individual case is carefully prepared, and that informal approvals from the key ministries are obtained before the investment is made and the formal application process is started.
Piptan International Inc. advises on suitable capital contribution opportunities, liaises with the various government agencies and ministries, and, finally, prepares and lodges your application with the government. The procedure involves a thorough background check. Citizenship documents are issued after the citizenship application has been approved.
The average time frame for an application is 24–36 months. Successful applicants receive full citizenship of the Republic of Austria by decision of the Government of Austria and can apply for a passport immediately afterwards. Passports are issued within a few days.
The grant of citizenship is not published and not reported to any other country, as it falls within the government provisions relating to privacy or official secrets.
The granting of citizenship is at the sole discretion of the Government of the Republic of Austria, and we are unable to guarantee that applications will be approved. However, great care has been taken to provide the best possible safeguards for persons entering the application process. Prior to taking on any mandate, a written agreement is made between the applicant and Piptan International Inc. defining the responsibilities of both parties.