Requirements under the Program
- Applicant must be of independent means and without the need of an employment- This is because this residency permit does not confer any right to work in Austria, including running your own business.
- The key criteria is to have sufficient funds; must be able to show liquid assets at your disposal of about EUR 40,000 per adult and EUR 10,000 per child below 18 years. These assets should be in the form of a statement of account from an Austrian or major international bank).
- A university degree that is recognized in Austria or knowledge of the German language at A1 level,
- A permanent accommodation in Austria, and health insurance that provides full cover in Austria.
- This residence permit is subject to a very low annual quota of approximately 300 applications per year.
Benefits of Austria Residency By Independent Means Program
It gives an opportunity to establish residence as a person of independent means.
The Austrian visa gives permanent residency after 5 years of the program.
Austrian passport ranked at 5th gives a visa-free access to all Europe’s Schengen Area states.
Austria is one of most beautiful countries with attractive lifestyle and healthy environment.
It provides for an excellent transportation and communications services with most of the Europe’s capital cities nearby.
An ideal combination of economic stability, a clean and safe environment, and an excellent infrastructure makes the country an outstanding place of residence.
The country has a high standard of living. Vienna (the capital of Austria) ranks amongst the highest standards in living across the globe.
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