Austria
Citizenship for extraordinary merit
The Act is aimed at high net-worth individuals who are willing to make investments that bring economic benefit to the country, such as an active business providing technology innovation, creating new jobs or contributing to the country's foreign trade, or a donation to a relevant public project.
The investment per se does not guarantee obtaining the citizenship, and the grant is at the sole discretion of the Government.
investment
Active Business Investment or Public Project Donation
To qualify, the investment should be in an active business or a donation to a public project, contributing significantly to the country's economy. Therefore, passive investments such as Government bonds, financial instruments or real estate do not qualify.Qualifying investments usually amount from €800,000 to €10 million. They can take the form of a joint venture, direct investment in an active business that creates jobs significantly or introduces science and research or innovation technologies to Austria. It could also be a donation to a relevant public project.
Furthermore, the foreign national must have a significant influence over an entity with a strong economic performance and international reputation.
Spouse and children up to 18 years old can be included in the citizenship application. Children above 18 years old would require filing a separate application.
Requirements
- Solid Financial and Business Background.
- CV including excellent references.
- Approved investment and business by the Government.
Restricted Nationalities
No nationality is officially restricted
dual citizenship
Dual citizenship is not recognized in Austria. To become a citizen of Austria, you must renounce your previous nationality.
Austria’s Citizenship Act does not recognize dual citizenship. However, an individual who has been granted Austrian citizenship under the provision of Art.10 (6) of the Citizenship Act, may not be required to renounce his or her previous citizenship.
Documents Required
- Original Professional Reference Letter (Not older than 6 month)
- Certified copy of ID Card
- Certified copy of passport
- Medical Certificate
- Original Police Clearance Certificate
- University diploma
- Photograph and Signature Certificate
- Original Bank Reference Letter (Not older than 6 month)
- Six passport-size photos
- Documents certifying Business Investment
- Original or Certified copy of Birth Certificate (if applicable)
- Original or Certified copy of Marriage Certificate (if applicable)
- Statement of Source of Funds
- Evidence of Business Background
- Certified copy of Business License or Incorporation documents
- Curriculum Vitae
- dual citizenship No
- Family members included Yes
- land ownership Yes
- Physical residence required No
- Personal visit required Yes
- Language skills required No
- Interview required Yes
- Investment Single -
- Investment Family 4 -
- Minimum annual income -
- Time to citizenship 120
- Time to permanent residency
- Visa-free countries 156
- Financing available No
Benefits
citizenship benefits
Country details
It is a member of the European Union and it has a population of 8.5 million people. Austria borders the Czech Republic and Germany to the north, Slovakia and Hungary to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the west. Its capital is Vienna, its official language is German and its official currency is the Euro (EUR).
Austria has one of the highest per capita incomes worldwide. The country also has one of the highest Human Development Index rates, with a high standard of living and a quality health and education system.
Visa Free Travel
Taxes
Becoming an Austrian citizen does not automatically mean becoming a tax resident. To be a tax resident, an individual must be domiciled or spend more than 6 months within the country in a tax year. Tax residents are subject to tax on their worldwide income, while non-residents are subject to tax on their Austrian-source income.
Personal Income tax rates are progressive up to 55%. Dividends, interests and capital gains are usually taxed separately at a 27.5% tax rate. Gains from real estate are taxed at 30%.
The Standard Value-added tax rate is 20%. Certain goods and services are taxed at reduced rates of 10% and 13%.
There is a real property tax up to 0.2% but may be increased by municipalities up to 1%.
Transfer of real estate is subject to acquisition tax from 0.5% to 3%, depending on the value of the property.
There are no inheritance and net wealth taxes. There is a stamp duty for certain transactions such as lease agreements, bills of exchange and assignment of receivables.
Regarding corporate taxes, companies incorporated in Austria are subject to Corporate Income tax on their worldwide income, at a 25% tax rate.
As of January 2019, Austria introduced Controlled Foreign Company (CFC) rules for the first time, as part of the implementation of the EU Anti-Tax Avoidance Directive (ATAD).
Learn more about Austrian Corporate Tax regime, legal framework and tax treaties at incorporations.io/Austria.
This should not be construed as tax advice. We have access to a global network of qualified attorneys and accountants who can give you the proper advice for your particular circumstances. Contact us for further information.
- Property tax Yes
- Transfer tax Yes
- Inheritance tax No
- Net worth tax No
- CFC law Yes
- Tax residency days 183
- Personal income tax rate 55%
- Capital Gains tax rate 30%
- Investment income tax rate 27.5%
- Territorial taxation No