A few months ago our protagonists lived in one of the largest cities in Russia. Valeriy, 51, and his wife Anna, 48, have a daughter Elizaveta aged 17. Valeriy and Anna own shares in a shopping center and their business is based on renting out the premises. At the beginning of our cooperation, Elizaveta was finishing her school.
Goals and objectives
The couple had long been dreaming of moving to a European country for permanent residence. Their business does not require a permanent residence in the Russian Federation and they can manage it from anywhere in Europe. As a result, Valeriy and Anna made the final decision, especially as their daughter wanted to get a quality European education and work in a prestigious company. That year, she was due to graduate her school and was planning to enroll in one of the largest universities in Europe.
Contacting Immigrant Invest
The family members already have residence permits in Latvia. However, these documents (as well as residence permits or permanent residence in any other country of the Schengen area) allows you to stay in the territory of other Schengen countries for no longer than 90 days within six months and does not provide any rights. Latvian residence permit did not solve the problem of Elizaveta’s relocation and future work.
The couple considered several immigration programs for investors but could not choose anything specific. Difficulties with the choice of the program and the need for professional support led them to contact our company.
Searching for a solution
We offered Valeriy and Anna a few investor programs which, in our opinion, suited their objectives best of all.
- Permanent residence in Hungary. The program required a relatively small amount of investment (EUR 300,000) and easy conditions. However, the spouses do not much like the country itself in terms of permanent residence. Hungary was also not suitable for Elizaveta as a free education at university required knowledge of Hungarian while she was studying German and English. In addition, she did not want to work in Hungary since the average salary there is only EUR 500.
- Permanent residence in Malta. The conditions of this program are more complex and involve investment of EUR 250,000 in securities, rental/purchase of real estate (EUR 10,000 per year/EUR 350,000) and proof of income/assets (EUR 100,000/EUR 500,000). Elizaveta liked Maltese universities as they have a high international ranking. However, Valeriy and Anna did not like the climate. They have always lived in central Russia and Malta was too hot for them. In addition, they dreamed of leaving the crowded and bustling city and Malta has an extremely high population density.
- Citizenship of Cyprus. This program solved all the problems of the family and allowed them to live in any country of the Schengen arearnfor an unlimited amount of time. However, both Malta and Cyprus require significant costs (more than EUR 1 million in for Malta and more than EUR 2 million for Cyprus). Therefore, Valeriy and Anna had to abandon these offers.
The best solution
A friend of Elizaveta has considered foreign universities as well, but has decided on Austria as there lived her aunt. Elizaveta decided to get to know more about this country.
Elizaveta was fascinated with Vienna, its architecture and atmosphere. She was also happy with Austrian universities as they are among the top European universities.
However, Elizaveta could not speak German well enough to start her studies at the University of Vienna immediately. The problem was easy to solve, though: she would study the language at university courses for 1-2 semesters. Most of all, she was impressed there were no exams: just enroll and learn!
Thus, it was decided to move to Austria by obtaining residence permits for the persons of independent means.
Conditions to obtain a residence
Our clients completely matched the requirements of the Austrian program..
- Children under 18 years of age. Elizaveta was 17 at the time of filing the documents
- Accommodation. Holders of residence permits in Austria are obliged to reside in the country for at least 183 days a year. Since the family had intended to live there permanently, this condition satisfied them.
- Available income. We recommended that spouses show the presence of EUR 50,000 in their bank account. That was enough for the family with one child and our clients found it easy to arrange.
- Place of residence. The holder of a residence permit needs to rent or buy a property in Austria. As our clients wished to live there permanently, it was not a problem for them.
- Health insurance which is mandatory for everyone who lives in Austria.
- Basic knowledge of German. Valeriy studied it in school and Anna had to finish a crash course. As a result the family obtain certificates of A1 level exam.
Property rental in Austria
Valeriy and Anna dreamed of a life in a quiet small town. Since their daughter chose to study in Vienna, they decided to settle in the suburbs. In order to choose a place of residence, the family traveled to Austria. As they already had residence permit in Latvia, it allowed them to travel visa-free.
Our employees showed the most suitable properties matching the family’s requirements. As a result, the couple decided to rent a small house in Perhtolstdorfe. It is a very quiet and beautiful village near Vienna. We organized a meeting with the insurance broker and the family decided on the type of insurance during their first visit.
Applying for residence permits in Austria
The whole procedure of applying for residence permits in Austria took several stages, on each stage our staff accompanied the client while all legal matter have been controlled by austrian lawyer:
- Filing papers to the nearest Embassy / Consulate of Austria
- Obtaining Visa D (about 4-5 weeks)
- The trip to Austria for personal delivery of the documents for residence permit
- Documents review (4-6 weeks)
- Issuance of residence permit cards
Since the family already had residence permit in Latvia, they did not need Visa D. They could immediately apply for Austrian residence permits. That took place at the beginning of January, and their residence permit cards were issued in 3 weeks.
Once Elizaveta passed the exam, the family moved to Austria for permanent residence.
Benefits for our customers
- Elizaveta has received a B2 certificate of German knowledge and began her studies at University of Vienna.
- Her parents sometimes travel to Russia but mostly spend their time traveling across Austria and Europe visa-free.
- Valeriy and Anna are delighted with the peace, tranquility and picturesque views of Perhtolstdorfe and Austrian nature.
- They feel safe in a new country.
- All family savings are put into a reliable Austrian bank.
- In 6-10 years, the whole family will be able to apply for Austrian citizenship.
If you want to create a safety net for your family, provide them with the highest quality of life and travel around the world visa-free, it is possible to use the program for obtaining residence permits in Austria. In order to clarify the details and conditions, please contact us or visit us at the nearest office.