INTRODUCTION
The Austrian government has introduced a new rule for the applicants of the “golden visa” program. It is now necessary to provide all bank account statements for the last 6 months to get approval. This measure was taken by the government to prevent money laundering activity within its borders.
Since June 19th, 2017 all foreign nationals who are applying for an Austria golden visa must prove that they have maintained their relationship with their bank over at least six months. The Austrian visa program is a part of the country's economic policy, which aims to attract foreign investors. Investors are also eligible for tax benefits. The Austrian Golden Visa law allows anyone who purchases an investment in Austria to immediately apply for a residence permit.
READ ALSO: AUSTRIA VISA TYPES
WHAT IS A GOLDEN VISA
A Golden Visa is an investment-based nationality or residence scheme. This is aimed at rich foreign citizens that wish to get residence in a specific nation by spending a significant sum of money or acquiring real estate. For most circumstances, being physically present in the nation that granted the Golden Visa is not required. This implies that when you choose to, people are not required to migrate to another nation. However, most nations will demand real stay for five to 10 years to get permanent residence or citizenship through business.
If you register for a Golden Visa, one and your immediate relatives will be granted residency permits that may be extended as long as the commitment is maintained.
AUSTRIA GOLDEN VISA
To get a golden visa, one cannot obtain an Austrian Golden Visa by acquiring property or other non-active assets, the policy of the golden visa for the aurian is similar to Switzerland. Visitors must spend something that will generate jobs and also have an influence upon the Austrian economy to get a residence by investments in Austria. The Austria Golden Visa policy enables international candidates to earn and invest in Austrian residence and citizenship by actively investing in the economy. Such an investment must be considerable, benefit the economy, and generate employment in exchange for Austrian citizenship and a later secondary passport. If placed directly into a firm, the expenditure is normally €10, or €3 million when invested as a payment to the government development bank.
The Austrian passport can grant travellers visa-free transit to 199 countries around the world, particularly visa-free transit to the United States or the United Kingdom. The Austrian nationality by investment plan allows anyone to reside, operate, and travel freely in Austria.
READ ALSO: AUSTRIA VISA POLICY
COUNTRIES THAT OFFERS GOLDEN VISA
Here are the countries which offer golden visas to their citizens.
- Spain
- Malta
- Greece
- Portugal
- Austria
- Switzerland
- Belgium
- Italy
BENEFITS OF AUSTRIA GOLDEN VISA
A person can make a financial investment easily in an EU/Schengen nation and seek a golden visa to become a permanent citizen of the EU countries. Similarly, their immediate family members will be able to join them in the United States. As a result, in which some benefits are added to the golden visa program of Austria which includes
- getting schooling from Austria live in Austria freely, as a resident
- can use the medical and health care system for treatment.
- it allows anyone to travel freely inside the EU/Schengen countries. Now, Individuals will be expected to fly freely within the Schengen Area, including the 26 member nations.
- Golden visa holders may petition for nationality after a fixed length of time living in the country.
- With almost all of Europe's main cities within driving distance, it offers great transportation and telecommunications facilities.
- The Austria passport, which is rated fifth, allows visa-free travel to all Schengen Area European countries.
- Following five years on the programme, the Austria visa grants permanent resident status.
REQUIREMENTS OF AUSTRIA GOLDEN VISA
- The most important criterion should be to have enough income; one should be able to demonstrate that you do have available funds on hand. Such holdings must be in the manner of an Austrian or large global bank statement
- A university education recognised in Austria or A1 level mastery of German as a language travel freely in Austria. as well as medical coverage with complete coverage in Austria.
- You've never been punished for any criminal offence.
- Have equal evidence to show or prove themselves that they are the owner of the funds set aside only for investments.
- That the funds were obtained in a legitimate manner
- That the applicant and his family will be able to survive in the nation for such duration of the stay.
READ ALSO: AUSTRIA VISA REQUIREMENTS
CONCLUSION
It’s tough to decide to move from one country to another when there are so many factors involved. You have to think about your expenses, finances, career goals and family situation. In this article, we provided you with some tips for making the right decision regarding your future golden visa for Austria.
