Requirements under the Program
- Applicant must be of independent means and without the need for employment- This is because the residency permit does not confer any right to work in Austria, including running your own business.
- The key criteria are 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 a major international bank.
- An Austrian-recognized university degree or knowledge of the German language at A1 level,
- Permanent accommodation in Austria, and health insurance that provides full coverage.
- The residence permit is subject to a low annual quota of approximately 300 applications per year.
Benefits of Austria Residency By Independent Means Program
The country has a high standard of living. Vienna (the capital of Austria) ranks remarkably well for high standards of living across the globe.
It provides excellent transportation and communications services with most of the capital cities of Europe nearby.
The Country is an ideal combination of economic stability, a clean and safe environment, and excellent infrastructure making an outstanding destination of residence.
It gives an opportunity to establish residence as a person of independent means.
Austria is one of the most beautiful countries with an attractive lifestyle and healthy environment.
Austrian passport rank 5th globally as it offers visa-free access to all Europe’s Schengen Area states.
The Austrian visa gives permanent residency after 5 years of the program.
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