Austria
The Private Residence Program (PRP) in Austria, also known as the Austrian Residence Program, is a legal pathway designed for non-EU nationals who wish to live in Austria.
Residence by Investment Overview
It is specifically geared towards individuals who have sufficient financial means to support themselves without the need for employment in Austria. The PRP is particularly appealing to high-net-worth individuals (HNWIs), entrepreneurs, retirees, and investors.
Investment
The financial requirement is often in the range of €40,000 to €50,000 annually
Benefits
As an EU member state, Austria provides residency that can allow easier movement within other EU countries.
Austria Residence by Investment
The Private Residence Program in Austria offers a pathway for wealthy individuals seeking long-term residence without the obligation to work. The key requirements are financial stability and proof of sufficient income or wealth, along with the intention to reside in Austria.
Benefits of residence by investment in Austria
Freedom of Movement: As an EU member state, Austria provides residency that can allow easier movement within other EU countries.
High Standard of Living: Austria offers a high quality of life with excellent healthcare, education, and infrastructure.
Tax Benefits: The tax system is relatively favorable for certain residents and there are programs available for those who have assets or income from outside Austria.
Family Inclusion: Spouses and children under 18 (or older, if dependent) are eligible for the same residence rights.
Requirements for the Red-White-Red Card (Investor/Entrepreneur Option)
Proof of Sufficient Funds: Applicants must show that they have adequate financial resources to support themselves and their families without relying on state support. This includes demonstrating assets, income, or savings.
Business Plan or Investment Proposal: If applying under the entrepreneurial route, you must present a solid business plan that is deemed beneficial to Austria’s economy (e.g., job creation or innovation).
Health Insurance: Applicants must have adequate health insurance for themselves and their family members.
Good Character: The applicant must not have any criminal record, and a background check will be conducted.
No Immediate Work Requirement: Unlike other countries’ Golden Visa programs, Austria’s residence-by-investment options don’t necessarily require the applicant to have a job. However, they do need to demonstrate their ability to economically contribute to the country.
