Today, Austrian citizenship is considered one of the most prestigious because many associate it with stability, reliability, freedom, and security. It is a developed European country with a strong economy, high-quality education, and excellent healthcare. Its passport allows for free travel to 175 countries, and as an EU member, holders can reside anywhere in the Union.
Another reason for the prestige of an Austrian passport is how difficult it is to obtain. Naturalization is possible, but it takes at least ten years. You must also learn the difficult German language and pass a special citizenship exam.
Since 1985, wealthy foreigners have been able to obtain Austrian citizenship through an investment program that waives these requirements. However, this isn’t a standard economic citizenship program or a traditional “golden passport.” An investment of at least EUR 3 million is required and is considered a special service to the state. Since the EU has no traditional citizenship-by-investment programs, Austria’s offer is attractive to some foreign investors.
Why is Austrian citizenship popular among investors?
The Austrian passport is one of the most powerful in the world. It ranks third out of 99 passports in the International Passport Index. Investors often consider obtaining Austrian citizenship for a number of reasons:
- Mobility: The passport allows visa-free entry to 175 countries, simplifying travel and business trips;
- Residency options: You can live in Austria or any other EU country;
- Access to European investment markets: You can trade stocks and participate in deals intended only for Europeans;
- Economic stability: The Austrian economy is one of the ten strongest in the EU by GDP;
- Access to highly qualified personnel: Thanks to high salaries averaging EUR 2,700, many experienced professionals seek employment in Austria;
- Access to European banking services: You can open accounts with not only leading Austrian banks, but also those located in any EU country;
- Access to high-quality healthcare: Austrian citizens can receive medical care throughout the EU;
- Second citizenship: If you are granted an Austrian passport for special merit (including investment), you do not need to renounce your original citizenship.
Who is eligible for Austrian citizenship through investment?
Austria does not have a program that grants immediate citizenship in exchange for investment. However, according to Section 10 of the Citizenship Act, citizenship can be granted through investment for “special merit” in areas such as sports, science, or economics.
Investments in real estate, government bonds, state funds, or other economic sectors are not eligible. You must invest in your own company or in a company where you hold a management position. Simply investing is not enough. You must also prove to the Austrian authorities that:
- The company is well-known abroad;
- You plan to create new jobs in Austria, especially in economically weak regions (e.g., in the federal states of Vorarlberg, Lower Austria, and Upper Austria);
- The company already demonstrates (or will demonstrate) strong economic performance;
- You plan to promote Austria’s bilateral and multilateral international relations;
- You have no criminal record;
- The money invested was earned legally.
You don’t need to learn German or take language exams. You also don’t need to live in Austria for an extended period before receiving citizenship.
How much do you need to invest?
The Austrian authorities do not specify a precise investment amount. In practice, investors typically invest at least EUR 3 million, though industrial companies may invest up to EUR 10 million.
It’s safe to say that this isn’t a “golden passport” program, but rather a case-by-case approach. The Austrian authorities review each application individually, checking the source of the funds, the company’s reputation, and the applicant. Often, the size of the investment isn’t as important as its benefits. Therefore, even when two people invest the same amount, the results can differ, making it difficult to predict.
For this reason, investors often . Their experience allows them to assess the likelihood of approval in advance and recommend alternatives if necessary.
Procedure for obtaining citizenship
There is no precisely defined procedure for obtaining Austrian citizenship by investment. Therefore, consider the following steps:
- Apply for a visa and residency
You may need to stay in Austria for more than three months to resolve all investment-related issues. To do so, you will need a residence permit. For example, you can apply for a temporary residence permit for entrepreneurs or for work if you manage a company. Submit the application to the consulate/embassy before entering the country. You may need to prove that you speak German at least at level A1. On average, processing an application can take up to eight weeks. If everything is in order, you will receive a visa. The application processing fee is EUR 120.
- Enter and obtain a residence permit
Immediately upon entering Austria, contact the Department of Immigration and Citizenship (or another authorized government agency in your intended residence region) to apply for a residence permit. There is a EUR 20 fee for issuing the residence permit, as well as a fee for biometric data collection.
- Make an investment
If you are investing in an existing company, you only need to formalize the transaction legally by signing a contract. Otherwise, you must first register the company, which can be done free of charge at your local city administration office or another government agency.
- Prepare the documents
The law does not stipulate a precise list of documents required to obtain Austrian citizenship. You will receive a list during your initial consultation with the authorized government agency. We recommend having a valid passport and an income or bank statement confirming that you are investing legally earned money. You may also need to provide proof of a clean criminal record and a recommendation from a relevant minister or other government official stating that you have rendered special service to the country.
- Apply for citizenship
Submit your application to the authorized government agency in your place of residence. You can view the application details on the website oesterreich.gv.at by selecting your municipality. The federal fee is EUR 1,448, but there may also be municipal administration fees, which vary by municipality. Application processing times vary for each investor, though it typically takes 9-18 months. If your application is approved, you will need to take the oath of allegiance (at no additional cost).
- Obtain a passport
After taking the oath, you can request an ID card and a passport. Applications are submitted to the district administration or municipality. An ID card costs EUR 91, and a passport costs EUR 112. Both documents will be mailed to you within five business days.
Are there any potential difficulties?
Austria’s investment program is neither simple nor transparent. For one thing, there’s no clear entry threshold, so you can’t know how much you’ll need to invest to qualify. However, it’s clear that the amount will need to be substantial. For example, you can’t obtain citizenship by investing EUR 100,000 in a business; experience shows that you need to invest between EUR 3-10 million. Furthermore, this investment must bring real benefits to the Austrian economy.
The Austrian authorities haven’t outlined a clear procedure for granting citizenship based on special merit. You won’t know in advance what steps you’ll need to take or how long the process will take. There is also no legally defined timeframe for reviewing applications—each investor’s case is considered individually at a closed meeting of the Austrian government. In total, the process can take 2–3 years from document preparation to passport receipt.
Even if you invest, say, EUR 5 million, there’s no guarantee you’ll be granted citizenship. If your application is rejected, you won’t be able to get your money back. All investors undergo rigorous checks. Authorities determine if the money they want to invest was earned legally, if they have ties to terrorist groups, and if they are on an international wanted list or under sanctions.
Therefore, it’s advisable to consult beforehand. They will conduct a preliminary background check on your application, which will reduce the likelihood of rejection.
Which country offers the easiest way to obtain citizenship by investment?
Today, more than 25 countries worldwide offer second passports through investment programs. Each country has its own entry threshold. In some countries, an investment of USD 130,000 is sufficient, while in others, at least a USD 1,000,000 investment is required. Passport issuance times also vary, typically ranging from 2-6 months.
One of the most popular programs today is in Vanuatu because it offers a transparent process with no complicated requirements. Investments can be returned over time, and passports are issued in just two months. You don’t need to travel to Vanuatu (everything is done remotely), and there’s no residency requirement after receiving citizenship.
Investment programs in Caribbean countries are also popular: Dominica, Grenada, Saint Lucia, Saint Kitts and Nevis, and Antigua and Barbuda. The investment threshold here ranges from USD 200,000 to USD 250,000. The procedures are remote, and passports are issued in just 2-4 months.
Other countries that offer citizenship through investment include Turkey (USD 400,000), Egypt (USD 250,000), and Jordan (USD 1,000,000).
