Austria: Investment Immigration

Settlement Permit - Gainful Employment Excepted

Financially independent individuals desirous of settling in Austria can seek a residence permit under the Settlement Permit - Gainful Employment Excepted option.

This residence permit is granted to third country nationals upon fulfillment of the following conditions:

1. The applicant must possess a fixed and regular income that will allow the applicant and his or her family to reside in Austria without relying on welfare assistance provided by the Austrian authorities.
2. The applicant must have a regular monthly income that is equal to twice the standard rates for General Social Insurance as determined under the General Social Insurance Act in Austria.
3. The income may be in the form of Austrian or foreign pensions, profits from corporations and enterprises registered outside Austria, income from assets, income from ownership of shares in companies, or other savings.
4. The applicant must obtain adequate health insurance that provides benefits in Austria and covers all risks faced by the applicant and his or her family.
5. The applicant should purchase or lease accommodation that is adequate as per local standards for the applicant and his or her family. The applicant will be required to provide evidence of legal title to the accommodation.
6. Austria grants a limited number of settlement permits on an annual basis. If the quota is exceeded, then the application for settlement permit will be processed only when the quota is available.

Minimum Income Requirement for Settlement permit - Gainful employment excepted applications

For 2014, the minimum income requirement for Settlement permit - Gainful employment excepted applications is:

Validity: Settlement Permit - Gainful Employment Excepted

At first instance, the residence permit will be issued for a validity of one year.

The applicant will be issued a settlement permit with a validity of three years upon the fulfillment of the following conditions:

1. Legal residence in Austria for a period of two years immediately preceding the application without any interruption
2. Completion of Module 1 of the Integration Agreement, which denotes German language skills at A2 levels according to the Common European Framework of Reference for Languages.

Processing Time: Settlement Permit - Gainful Employment Excepted

The application process can take between two to six months depending on the documentation submitted and the complexity of the case.

Upon issue of the permit, the Settlement permit must be collected from the issuing authority in Austria.

All Non-EU or Non-EFTA nationals planning to stay in Austria for a period in excess of 24 months must sign the “Integration Agreement” as well.

Fees: Settlement Permit - Gainful Employment Excepted

Granting fee of €100 with €80 payable at the time of application and €20 payable after grant of the permit.

Personalization costs of €20

Application Procedure

Application Procedure: Settlement Permit - Gainful Employment Excepted

1. The first application for Settlement Permit-Gainful Employment Excepted must be filed with the competent Austrian Consulate authority situated in the applicant’s domicile.
2. The authorities shall examine the application and forward complete and correct applications to competent authorities in Austria. Applicants who possess a visa to reside in Austria can apply in Austria itself.
3. The applicant must submit the following documents
   1. Fully completed application form
   2. Proof of payment of the requisite fee.
   3. Copy of valid travel documents of the applicant
   4. Original or notarized copy of birth certificate or a similar document. This document is required at the time of the first application only.
   5. Two recent passport photographs of the applicant.
   6. Proof of marriage, divorce, registered partnership, dissolution of registered partnership, adoption, death, or other family relationships as may be applicable
   7. Proof of possession of accommodation in Austria that complies with the local standards applicable to the size of the applicant’s family. The applicant must submit a copy of the lease contract, sub-lease contract, preliminary contract related to property, or other evidence of ownership as proof of legal title to the accommodation.
   8. Proof of possession of adequate health insurance through submission of a copy of the insurance policy.
   9. Proof of adequate financial resources in the form of a payslip, employment contract, certificate of pension, pension insurance, or evidence of invested capital or assets owned by the applicant.
   10. Proof of adequate German language skills
   11. Proof of character in the form of an original criminal record issued by the local police station of the applicant’s domicile. The certificate should not be older than three months before the date of filing of application.

German Language Requirements

German Language Requirements: Settlement Permit - Gainful Employment Excepted

Applicants are required to provide evidence of possessing German language skills at A1 level as determined by the Common European Framework of Reference for Languages. All applicants are required to have basic German language skills at A1 level in order to become eligible to reside in Austria. The language skill requirement must be fulfilled before filing of application.

Compliance with the German language skills requirement can be proved by:

1. Obtaining a language diploma or certificate from specified language institutions in Austria.
   • Diploma or certificate awarded by Austrian Language Diploma German or Goethe-Institut e.V or Telc GmbH or Austrian Integration Fund are considered valid for the purpose of the application.
   • The diploma or certificates must not be older than one year from the date of filing of the settlement permit application.
2. Fulfilling the requirements of Module 1 or Module 2 of the Integration Agreement which will denote German language skills at A2 or B1 levels respectively. Fulfillment of these requirements will be considered as proof of possession of adequate German language skills for the purpose of the residence application.

The following individuals are not required to provide evidence of possession of adequate German language skills:

1. Applicants aged less than 14 years at the time of application
2. Individuals who cannot, on grounds of physical or mental health conditions, provide such evidence. The existence of such a condition must be evidenced by a medical report issued by a public health officer or medical expert appointed by Austrian authorities.
3. Applicants who applied on or before 30 June 2011 are not required to provide evidence related to language skills.

Individuals holding Settlement Permit - Gainful Employment Excepted can apply for the Long-term Resident- EU