A married couple, Yuri, 53, and Marina, 44. Yuri runs his own company in Russia.
Yuri and Marina live in Moscow. The family has three children: Daria, 14, Alina, 6, and Kirill, 4.
Unfavorable economic situation in Russia forced the couple to think of moving to a country with a stable economy and high standard of living. Yuri finds it important to keep his assets in a strong European bank in hard currency and stop worrying about the ruble rate fluctuations.
Also, he wants to take his business to the international level and optimize his company’s tax liabilities.
At the same time, the family wants to live in a region with good environmental conditions. Their search for a place in Russia, which would combine the high quality of life and clean environment, failed.
Given that they have three children, Yuri and Marina are very keen on giving them decent education and providing them with ample opportunities for finding jobs at international companies.
Prior to contacting Immigrant Invest
The company which Yuri contacted for help offered him an option to obtain residence permits in Lithuania. The program is easy to obtain, yet the family did not like the country itself. The standard of living in Lithuania is way below the European averages.
After searching for the information on how to move to a European country with a high standard of living, Yuri landed on our website. Here, he learned of the more favorable options.
Searching for solutions
Instead of Lithuania, we offered Yuri to consider residence by investment program in Spain. Yuri got interested in a simple and clear scheme of investment and obtaining a residence permit by purchasing real estate worth EUR 500,000. However, he insisted on the highest possible status of the country.
Other options we put forward were Cyprus and Malta. These proposals were interesting to Yuri due to the ample opportunities for international businesses and high standard of living.
However, he was not ready to invest in a second passport that much. Cypriot citizenship would cost his family a minimum of EUR 2,5 million and Maltese – EUR 1,4 million.
While travelling across the the Europe, Yuriy conducted business meeting in Vienna. He enjoyed Austria and the possibility to get here residence permit as financially in independant person was attractive.
This country has plenty of advantages and fully suits Yuri’s family, the decision has been taken immediately.
- Austria is located in the heart of Europe and is famous for its picturesque nature
- The country's economy is among the world’s top 15 most stable economies (Fragile States Index 2015)
- In terms of living standards, Austria holds 13th place in the world (OECD rating)
- Austria’s environment is world’s 8th cleanest place in the world (the Yale University rating)
- The universities in this country are considered among the leaders of European higher education establishments
- To obtain residence permits, it is enough to provide a proof of holding a certain level of income
Yuri and Marina especially liked the stability that Austria provides for its living standards. The country met all of their criteria so the choice for Yuriy was obvious.
Residence permits in Austria are granted to the persons of independent means who do not plan to carry out economic activity in the country (i.e., run a business or get a job). Holders of residence permits can reside in any region for an unlimited time, rent or buy property and enjoy all the benefits of life in Austria.
The spouses were satisfied with the requirements to obtain residence permit.
- Monthly income of EUR 1,744 per couple and EUR 269 per child
- The need to rent or buy a home
- Health insurance for all family members
- Knowledge of the German language at the basic level for all family members above 14 years of age
- Residence permits will be automatically obtained by all family members under 18 years of age as well as Yuri’s wife
- The status is renewed according to the following scheme: 1 year + 1 year + 3 years
- They can obtain a permanent residence permit in 5 years
- If a family is willing to integrate into the country’s life, its members can apply for citizenship in Austria in 6-10 years
Making a decision
Upon return to Moscow Yuriy referred to our Moscow office to help him to collect documents for the residence permit and arrange the relocation for his family. Yuri was tempted by excellent living standards, high quality education and employment prospects for children. Moreover, residence permit in Austria enables its holder to study for free (except for a few boarding schools and universities).
Speaking German was not a problem, either. Yuri learned German in school and still remembered the school course well enough. His daughter Daria was learning German as a second foreign language. His wife Marina was open to attend the language course.
The only requirement that could affect the decision was the need to live on the territory of Austria for at least 183 days a year. However, since Yuri and Marina were already thinking of relocating to Austria for permanent residence, that requirement was not crucial for decision-making.
Yuri had also planned to set up an international company in one of the best areas for optimizing tax liabilities. Thus, he could run a business in Malta but live in Austria.
The greatest difficulty in obtaining residence permits in Austria is to fall under the quotas for foreigners. Their number in various regions of the country may vary. The hardest region to obtain residence permits in is the capital, Vienna.
We started our cooperation with elaboration of personal list of documents for the whole family. For this reason we clarified with Yuriy in which region of Austria he would like to be settled. It is important as each region has its own bureaucratic peculiarities. Afterwards we involved an attorney in this region and thus full list of documents has been prepared.
One of the benefits of contacting our company is that we are well aware of the quotas in any region of Austria. Therefore, in cooperation with austrian lawyer we were able to pick up the best option for Yuri and Marina which secured them the highest odds of succeeding.
Our experts also took the family's desire to live in a green and quiet arearninto account. As a result, we helped them rent an apartment in Klagenfurt (Carinthia). The option was perfect for them.
Yuri and Marina have completed a two-month language course in Moscow and received an international certificate of speaking German at the A1 level.
Their daughter Daria spent part of her summer holidays in a language camp in Salzburg. She had a great time, learned more about the Austrian culture and passed the language test.
Earlier that year, application documents have been filled to the Austrian Consulate in Moscow. In 2 weeks, the client received a positive decision.
At the moment, the family moved to Austria and lives there. Kids attend kindergarten, and Daria goes to school. Our experts will help the family with social adaptation and consult on any domestic issues.
As a result, the couple and their children received ample opportunities to improve the quality of their lives.
- Yuri transfers his assets to a safe economic zone
- His lawyers are preparing documents for opening the international companies in Austria
- Marina is satisfied with the quality of products and standards of living
- Daria has already started preparing for entering the university and is thinking of choosing between Vienna and London
- On weekends, our clients go on vacation to the Alps and enjoy the amazing nature of Austria
In the long term, Yuri plans to obtain Austrian passport, buy real estate and develop his business on the international level. However, he is not going to give up Russian citizenship either and will stay in touch with his homeland and Russian partners.
The story of Yuri and Marina is just one episode in the life of our company. If you are interested in other stories of our customers, subscribe for our blog updates. We will share lots of interesting details.