Austrian Residence Permit Solution for a High net Client

Let CONFIDERI advisers make everything for you to get residence permit in Austria as we take up the work only being 100% confident in the best result for our client.

We exercise control over the terms and documents’ conformity through the whole procedure at each stage and stand ready to immediate support in prolongation of residence permit. Individual approach to each client according to his needs, explicit research of the situation, preparation of full package of documents, providing insurance and lease contracts’ conclusion together with the assistance with account opening are the services that CONFIDERIis pleased to offer.

 There are three main residence permit schemes:

  1. Independent Key Personnel – obtaining residence permit by virtue of relocation and setting up a business in Austria;
  2. Employed Key Personnel – obtaining residence permitthrough a job invitation in Austria;
  3. Private Residence Permit – obtaining residence permit through investments to Austria or step-by-step establishment of a second home for you and your family members;

The “Independent Key Personnel” scheme requests that you have an apostilled Birth Certificate, Marriage Certificate (or Marriage Dissolution Certificate) as well as Certificate of No Criminal Record. 

Besides there is a number of documents requested that do not need the Apostille on them: Foreign Passport, 2 visa’s format photographs, lease contract and proof of full payment for lease and related expenses, medical insurance, application. Please note that medical insurance has to be purchased in the public medical cash register for self-employed.

Crucial conditions for obtaining residence permit though Independent Key Personnel scheme are getting the minimum amount of called-up capital of 400 000 EUR and creating 5 job positions. 

The “Employed Key Personnel” scheme allows moving to Austria as an employed person. There are four types of professional workers falling under this scheme of obtaining residence permit in Austria:

High-qualified personnel;
High-qualified personnel with hard-to-find skills/of most wanted professions;
Key personnel with Austrian High Education Diploma;
Other Key personnel;

The “Employed Key Personnel” requires the same apostilled and non-apostilled documents as Independent Key Personnel does, the difference is that the medical insurance is made automatically by the employer.

Crucial conditions for obtaining residence permit though Employed Key Personnel scheme are proof of source of funds (there are adopted wealth standards for each personnel type) or bank account as well as an employment agreement.

In the meantime, most of our High net clients of our clients who wanted to create a second home in Austria have chosen the “Private Residence Permit” scheme. 

The biggest advantage of Private Residence Permit is that there is no need to incorporate and maintain a company as well as to create job positions, which usually entails substantial additional annuity expenses (including tax payments and contributions to maintain the infrastructure). 

 However, there is one essential thing to bear in mind: the “quota rule”. The Austrian federal government fixes an annual immigration quota for each federal province and each type of residence permit. Quotas are opened in early January each year and candidates have to apply for permit as soon as possible from this moment. 

 Crucial conditions for obtaining a Private Residence Permit:
  • Sufficient amount of funds (approximately starting from 500 000 EUR with proof of source of funds) on your bank account in Austria;
  • Lease of an apartment
  • Austrian VIP private Medical Insurance

 Prolongation of private residence permit 
  • Is subject to renewal on a regular basis as of the date of Private Residence Permit;
  • There is no need to physically stay in Austria within 180+ days a year (residence permit does not entail tax residence per se and tax obligations in Austria);
  • It is recommended to enter Schengen Zone throughout a year through Austria;
  • As a result of annual prolongations of residence permit through “1 year + 1 year + 3 years + 5 years” scheme there is a possibility to obtain an Austrian citizenship. In a number of cases the passport would be given in 7-8 years. 

CONFIDERI advisers are pleased to assist you in any questions concerning getting residence permit as well as to help with understanding how Austrian business is organized.