Last reviewed on March 29, 2024
Austria Residence Permit
For financially independent persons, without the right to work in the country
3+ months
Obtaining period
Beginning of January
Application deadline
183+ days a year
Mandatory residing
in the country
A residence permit in Austria allows one to live in the country and travel the Schengen Area visa-free for 90 days in any 180. With this status, foreigners can reach a new quality of life and access better education and healthcare.
Financially independent persons may apply for an Austria residence permit without searching for a job or proving other significant reasons to relocate to the country. The permit allows its holder to live but not work in the country. The main requirements for applicants are a stable income, owned or rented housing in Austria and basic proficiency in German.
Article 44 of the Settlement and Residence Act (Niederlassungs- und Aufenthaltsgesetz, NAG) regulates the issuance of residence permits for financially independent persons. There are quotas for this type of permit — about 450 per year. One family member gets one quota.
Applications are submitted to an Austrian consulate in any country or a magistrate in Austria by appointment on the first working days of the year. The earlier your appointment, the higher the chance of getting a residence permit. Quotas are usually assigned within the first two days.
The first residence permit is valid for a year and can be extended. One must spend 183+ days a year in Austria to retain the status. After five years of living in the country, one can apply for a lifetime permanent residence permit.
Benefits of the Austria residence permit
1
Relocation to Austria
Residence permits allow investors and their family members to live in Austria, a developed country with high living standards, beautiful architecture and nature, and good ecology. To maintain residency, one must spend at least 183 days a year in Austria.
Residence permits allow investors and their family members to live in Austria, a developed country with high living standards, beautiful architecture and nature, and good ecology. To maintain residency, one must spend at least 183 days a year in Austria.
2
Visa-free travel to the Schengen countries
Austrian residents can use their residence permit cards to enter the Schengen countries without visas and spend up to 90 days out of 180 in the region. The time spent in Austria doesn’t count.
Austrian residents can use their residence permit cards to enter the Schengen countries without visas and spend up to 90 days out of 180 in the region. The time spent in Austria doesn’t count.
3
Access to quality education and healthcare
Austria is consistently in the top 10 countries regarding the quality of healthcare services. Investors and their family members can get insurance treatment at Austrian clinics.
Graduation from Austrian schools paves the way to European universities. Besides, diplomas from Austrian universities are highly valued around the world. Minor children can get residence permits with the investor; thus, they won’t need a separate visa to study in the country.
Austria is consistently in the top 10 countries regarding the quality of healthcare services. Investors and their family members can get insurance treatment at Austrian clinics.
Graduation from Austrian schools paves the way to European universities. Besides, diplomas from Austrian universities are highly valued around the world. Minor children can get residence permits with the investor; thus, they won’t need a separate visa to study in the country.
4
Prospect of the Austria permanent residence permit and citizenship
After five years of living in the country with a residence permit, an investor can apply for Austria permanent residency. This lifetime status allows the holder to be employed and do business in Austria.
The next possible step after the Austria permanent residence permit is citizenship. Permanent residents can apply for passports in 6–10 years if they meet several requirements. For example, they have succeeded in science, arts or business while living in Austria or shown a high level of integration into the Austrian society. In other cases, one can apply for citizenship after 30 years of residing in the country.
Austria doesn’t allow dual citizenship. Thus, applicants must give up their other passports.
After five years of living in the country with a residence permit, an investor can apply for Austria permanent residency. This lifetime status allows the holder to be employed and do business in Austria.
The next possible step after the Austria permanent residence permit is citizenship. Permanent residents can apply for passports in 6–10 years if they meet several requirements. For example, they have succeeded in science, arts or business while living in Austria or shown a high level of integration into the Austrian society. In other cases, one can apply for citizenship after 30 years of residing in the country.
Austria doesn’t allow dual citizenship. Thus, applicants must give up their other passports.
Get maximum information about the process
Step by step procedure
Requirements for applicants
Required documents
Answers to frequently asked questions
Who can get an Austria residence permit
Requirements for applicants’ housing and income
An applicant can buy or rent housing in Austria. The minimum property value isn’t set, but the area and layout must comply with the family’s composition. Suppose a family of four: spouses and their son and daughter. They must rent an apartment with at least three bedrooms: one for parents and each child.
The applicants’ financial independence is mandatory. To prove it, one must provide a bank statement confirming enough money on the account to live in Austria for a year.
The required amount for living in Austria is calculated based on the family composition and usually is a doubled minimum cost of living valid for the year before application.
Expenses for obtaining an Austria residence permit
The family composition defines costs for obtaining Austria residence permits as applicants get medical insurance and pay government fees.
Here is a sample calculation; expense items might change over time. If you seek advice from Immigrant Invest, we will calculate the cost of obtaining residency in Austria for your family.
Individual cost calculation for the Austria residence permit
Get an individual calculation for your family with all associated costs and government fees
Step-by-step procedure for obtaining an Austria residence permit for financially independent persons
Getting an Austria residence permit takes at least three months after application. Besides, at least two more months are required to prepare all the documents, find and rent housing in Austria, and get medical insurance.
1 day
Preliminary Due Diligence
A preliminary check is conducted to prepare for the main Due Diligence. The check is completely confidential and takes one business day.
A certified Anti Money Laundering Officer conducts the check at Immigrant Invest. The Officer knows the nuances of Due Diligence procedures in different countries. Thus, the results of the preliminary check help make a list of all required documents and reduce the rejection risk when applying for an Austria residence permit.
Pass a quick test and learn the nuances that can prevent you from obtaining a residence permit
2 to 12 weeks
Preparation of documents
Immigrant Invest lawyers provide an applicant with a list of documents. The list is compiled individually for the applicant’s family.
All family members over 14 prove their proficiency in German at a level no lower than A1. They can provide certificates from the Goethe-Institut (Goethe-Zertifikat), TELC, or the Austrian Integration Fund (ÖIF).
Confirming diplomas of higher education is an alternative option. However, it is a lengthy procedure. If the preparation of documents for a residence permit usually takes 2 to 4 weeks, this period will be prolonged up to 12 weeks with diploma confirmation.
2 to 4 weeks
Renting housing
Immigrant Invest real estate experts select housing options in Austria to meet the area requirements and investors’ wishes. The investor chooses the best-suited property. After that, a lease agreement is concluded. Under Austrian law, the agreement term must be at least a year.
The prepaid rent is made for 6–12 months. A security deposit is the amount of rent for at least three months. A realtor must be paid with an amount equal to a two-month rent payment.
2—3 weeks
Getting medical insurance and final collection of documents
All family members must get medical insurance with full coverage. Its cost depends on the age and state of health. By law, the contract is concluded for three years minimum.
After getting medical insurance, lawyers prepare the final package of documents and fill out an application form for a residence permit in Austria. The process takes about a week.
4 to 6 weeks
Applying for a residence permit
Immigrant Invest lawyers book an appointment for the investor to apply at an Austrian consulate. The appointment time defines whether the applicants will get quotas: the earlier they apply, the higher chances of obtaining residence permits.
On the appointed day, the investor and their family members visit the consulate, accompanied by lawyers, to apply and submit biometric data.
The submitted documents are transferred to Austria, which takes up to six weeks.
Up to 8 weeks
Getting a quota and approval
An Austrian authorised authority distributes quotas and notifies applicants. After that, the documents are forwarded for processing, which usually takes 4 to 8 weeks. Additional documents might be needed upon request.
A document confirming the application approval is forwarded to an Austrian consulate in the applicant’s country of residence.
2—3 days
Getting a D visa
The applicant receives an invitation to the consulate to get a D visa. The required documents are financial records and copies of passports, medical insurance policies, and a lease agreement.
After getting visas, applicants must enter Austria and get residence permit cards within three months.
2 to 4 days
Registration and opening a bank account in Austria
Austrian lawyers help the investor get a registration certificate and open a bank account in the country. The investor must be present at the opening of a bank account.
The investor transfers money for living in Austria to the local bank and gets an account statement.
2—3 days
Receiving residence permit cards
All family members personally collect residence permit cards on the appointed day at a Municipal Department of Immigration and Citizenship in Austria.
In 1 year and then in 3 years
Renewal of the residence permit
The first and the second Austrian residence permit cards are valid for a year. After two years of living in the country, a resident can get a card valid for three years.
The investor and their family members can apply for Austria permanent residence permit after five years of living in the country.
Case Studies
Austria residence permit and Immigrant Invest stay with you
After getting a residence permit and moving to Austria, new issues and needs may arise, such as purchasing a property, finding a school for children, opening another bank account, or getting answers to questions. Here is how we can help you.
