EU Citizenship by Investment
Art. 10 (6) of the Austrian Citizenship Act states that the government can reward foreign persons with Austrian nationality in the event of “extraordinary merit” such as bringing new technologies or economic benefit ($3 million to $10 million enterprise investment in Austria).
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 starting from $3,000,000. Passive investments in government bonds, real estate, etc. do not qualify.
The granting of citizenship is ONLY at the sole discretion of the Austrian Government awarded to outstanding individuals and families.
Application processing time frame 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.
Under the Austrian “naturalization law” through the residency program, non-EU nationals are eligible to apply for Austrian citizenship, after 10 years of residence in Austria.
Austrian passport has an excellent reputation and is one of the best travel documents in the world.. With a Austria residence it is possible to travel visa free in Schengen and other countries. It allows extensive visa-free travel (including to the Canada, UK,USA) and gives you the right to live anywhere in the EU.
Austrian passport also entitles you EU citizenship, and gives you the right to live and work anywhere in the EU. Family members, such as spouse and children upto 18 yrs of age can be included in the citizenship application. The citizenship offered is ‘irrevocable’ unless the applicant has presented false information in citizenship application.
All investors are allowed to keep dual citizenship after becoming citizen of Austria.