The fast-track Citizenship by Investment Program of Austria is for overseas investors who are qualified to apply for the Citizenship of Austria. This is through making a crucial economic contribution to the nation. They can thus bypass the lengthy requirement for a residence. Usually, overseas nationals are required to stay continually in Austria for 10 years to obtain Citizenship.
Overseas investors must consider one important aspect of the CBI Program. It is that the Austrian government considers the investment as more of an endowment. Once the investor commits the money, they will be unable to withdraw it at any point in future. However, the investment will tax deductible as per Austrian laws.
The qualifying investment must be active. This could be forming a fresh business enterprise with geographical headquarters in Austria. It could also be investing in an existing business in Austria that has potential to increase product sales or create new jobs.
Passive investments do not qualify for the CBI program. This includes investments in real estate holdings or government bonds. There is no minimum amount that has to be invested. However, usually, a minimum 2,000,000 Euros is needed for the approval of the application.
The Austrian CBI Program application is simple relatively. This is when compared with other similar programs of the EU nations. Austria does not mandate that the overseas investor applicant learn the German language. It also does not ask them to pass a test assessing their knowledge of the Austrian history and government.
The application for Citizenship only requires submitting completed forms offering biographic details about the overseas investor and family. An explanation as to where the investment funds will be focussed and how it will make a crucial contribution to the economy must be included.
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If you are looking to Study, Work, Visit, Invest or Migrate to Austria, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.
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