Is It Easy to Retire in Austria

Sunan, 32, and Mali, 30, were born and educated in Bangkok. They work remotely in the IT field. The couple travels frequently and loves Europe the most. They recently got married and are planning to have children. Mali and Sunan would like to give them a European education in a safe country.

Of all European countries, Sunan and Mali give preference to Austria. The place is attractive with a high standard of living, security, stable economic performance, and an impeccable environment.

On the recommendation of friends, Sunan and Mali turned to Immigrant Invest. The couple was interested in what options to move to Europe but retain Thai citizenship. They named their preferences regarding Austria.

Austria residence permit instead of Austrian passport

Immigrant Invest experts confirmed that Austrian citizenship requires giving up the first passport. Moreover, according to the laws of Thailand, second citizenship is prohibited. The way out of their situation is to obtain a residence permit.

A residence permit is a status that entitles a foreigner without Austrian citizenship to live and work in the country. A residence permit differs from a visa in terms of validity and its rights to the owner. For example, a visa gives the right to live in the country up to 90 days a year, a residence permit — up to five years. After five years of living in Austria, you can get a permanent residence permit.

There are 26 ways to get a residence permit in Austria. They differ in terms of validity, the possibility of extension, and the status holder's rights. Choosing a residence permit depends on the needs of the person. Immigrant Invest helps to get a residence permit for financially independent individuals.

Zlata Erlah,
head of the Austrian office

Residence permit status requires people to live in Austria for at least 183 days. The Austrian government monitors the length of stay in the country; for a violation, they may be denied the extension of a residence permit. A residence permit in Austria gives the right to travel around Europe without visas and live in the Schengen countries for up to 90 days in half a year.

Sunan and Mali decided that half a year would be enough time to visit relatives and friends in Thailand. Therefore, they agreed with the experts that the Austrian residence permit was the best option for them.

General requirements for applicants for a residence permit in Austria:

1. Pass a due diligence check.
2. Rent a house in Austria.
3. Get medical insurance.
4. Confirm income level.

The couple had stable earnings under contracts with Western and Asian customers. Their income was from legal sources. None of them had been prosecuted in the past.

What type of residence permit did Sunan and Mali choose

Depending on the goals and situation of the clients, Immigrant Invest experts offered a choice of the three most suitable residence permits in Austria.

The remaining types were ideal for students and families for reunification or did not imply an extension of the status.

Types of residence permits suit the requirements of Sunan and Mali

	Types of Austria residence permit	Characters	Can be extended, obtain permanent residence and citizenship
1	Residence permit for financially independent persons Austria allocates less than 500 quotas per yearCan't work or run a business in Austria	Live in Austria on income in another country
2	Residence permit for entrepreneurs Open a company in AustriaInvest in business €100,000	Do business in Austria
3	Residence permit for highly qualified specialists Suitable for candidates and doctors of sciences You need to score 70 points out of 100 according to the assessment system of theAustrian Employment ServiceYou can look for a job six months after moving	Live and work in Austria

The couple already had a good job, so they only considered options 1 and 2. Mali always wanted to start her own company, but at first, she planned to have a baby and spend more time with the family.

The Austrian residence permit for financially independent persons required confirmation of financial solvency for €2,944 per couple per month, excluding real estate rent, medical insurance and other expenses. A bank statement can confirm the availability of money, considering the couple's fees for one calendar year.

A basic A1 level is required, which the applicant confirms in an exam within the last year. A diploma from the Goethe Institute, a certificate from TELC GmbH, a diploma from the ÖSD language test or the ÖIF test is suitable. For Sunan and Mali, this was not a problem.

The disadvantage of this option is the limited quota. One quota is allocated for each family member. The number of quotas is limited. Each region in Austria has a different number of quotas, and Vienna has less than half of the total. The government approved their number at the beginning of the year.

450 quotas

were allocated in 2022 for participation in the residence permit program

As a result, the couple decided to apply for this type of residence permit for financially independent persons. The Austrian residence permit program provides a period of obtaining a residence permit on average three months.

Sunan and Mali approached Immigrant Invest in October 2021. In the Immigrant Invest expert's opinion, Sunan and Mali had good chances and enough time for preparing.

Austria's capital, Vienna, is one of the cleanest and most comfortable European cities. It took first place in the ranking of cities with the best environment and the first in the chart of the best cities to live in. There are many parks here, and locals prefer public transport to private cars

Austria is a mostly mountainous country with the Alps covering the western and the southern parts and mostly gentle hills in the eastern and northern parts. So, the country is very popular for winter sport

Obtaining Austrian residence permit in 4 months

1. Preliminary check and agreeing with Immigrant Invest. An initial Due Diligence check did not reveal any risks of refusal to obtain a residence permit. After signing the treaty, Sunan and Mali returned to Bangkok to collect the necessary documents.

The basis for entering Austria to obtain a residence permit is a D visa. It is issued at the Austrian consulates at the applicant's place of residence and is valid for three months. During this period, a person must come to the Municipal Department of Immigration and Citizenship of Austria and receive a residence permit card.

Immigrant Invest's services included the presence of a company representative in Thailand when applying for a visa.

We support the client at all stages of obtaining a residence permit: we help prepare documents, arrange insurance, rent an apartment and more.

Evgenia Morozova,
head of the legal department, lawyer, PhD in law, 3rd class counsellor of justice

2. Collection and preparation of documents. The couple did not have any difficulties with the collection of documents. The longest time was waiting for a certificate of no criminal record. But they ordered it online when it was in Austria at the stage of concluding an agreement with Immigrant Invest.

List of documents for obtaining a residence permit in Austria for Sunan and Mali:

1. Two passport size photographs no older than six months: colour, 3.5 × 4.5 cm.
2. Copy of national passport.
3. Birth certificate.
4. Marriage certificate.
5. Diploma of Higher Education.
6. Bank statement.
7. Contract for the provision of services to customers outside of Austria.
8. Certificate A1 level of knowledge of the German language is not older than one year.
9. Proof of non-criminal record from Thailand.

3. Selection of real estate and conclusion of a lease agreement. The selection of a property for rent took place remotely. The company's experts knew customers' wishes and offered several options in Vienna.

According to the experience of obtaining a residence permit for financially independent persons, the company's experts advised what parameters of the apartment should be for the quota to be approved in their favour.

For a family of two, the area of ​​rented housing must be at least 60 sq.m. The lease agreement must comply with all requirements of Austrian law and be signed by an authorised person on the part of the seller.

The expenses of Sunan and Mali for renting an apartment

One-bedroom apartment in Vienna, 60 m², with two bathrooms	Costs for 12-month
Rent	€1.300 x 12 months = €15,600
Security deposit	€1.300 x 3 months = €3900
Broker commission	€1300 x 2 months = €2600
Total	€22,100

4. Getting medical insurance. The health insurance contract in Austria is concluded for at least three years. The amount of the insurance premium depends on the composition of the family and the age of the applicants.

5. Registration at the Austrian Consulate in Bangkok. Immigrant Invest experts submitted documents to the Austrian Consulate in Bangkok on the first registration day — January 03, 2022.

Further, the documents were introduced to the Government of Austria, where a decision was made on the provision of quotas.

6. Allocation of places according to the quota and obtaining a D visa. A month later, Sunan and Mali received a notification about allocating quotas and invited them to receive a D visa. After two weeks, they flew to Austria.

7. Registration and opening of a bank account in Austria. Sunan and Mali registered at the address indicated in the lease. Opening a bank account in Austria is necessary to credit the amount for the maintenance of the family within one year.

Considering the cost of renting an apartment, car maintenance, and other expenses, Sunan and Mali opened a joint checking account and put €100,000 into it.

8. Obtaining residence permit cards. Sunan and Mali received residence permit cards on a pre-arranged day at the Municipal Department of Immigration and Citizenship of Austria.

€ 28,760 — the costs for obtaining an Austria residence permit

€600

Document translation fee

€40

Consular fee for fingerprinting

€80

Fee for issuing residence permit cards

The result of cooperation with Immigrant Invest

Now Sunan and Mali live in Austria with residence permit cards. After a year, they will renew the cards for another year. And after the expiration of the term for another 3.

We have achieved our goal of living in Europe. It is unlikely that we would have been able to do this without the help of Immigrant Invest, given the quota restrictions. It was essential to submit documents on time and avoid mistakes in filling out applications

Sunan and Mali,
freelance IT professionals

After five years of residence in Austria with residence permit status, Sunan and Mali will receive permanent residence status. They do not plan to acquire Austrian citizenship so as not to lose their original Thai citizenship.

To update their cards, they need to observe the period of stay in the country for 183 days a year.

mcwilliamsthatures.blogspot.com

Source: https://immigrantinvest.com/cases/case-austrian-residence-permit-for-financially-independent-persons-en/

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