AUSTRIA

Name of country

  • AUSTRIA

Region

  • Central Europe, north of Italy and Slovenia

Population

  • 8,884,864 (July 2021 est.)

General Introduction

  • The Republic of Austria (Republik Austria) is an inland European country bordered by the Danube River. Austria is a member of the European Union with a population of 8.5 million people and borders the Czech Republic, Germany, Slovakia, Hungary, Italy, Switzerland, and Liechtenstein.
  • Austria has one of the world's highest per capita incomes and human development indexes. The Republic of Austria also assures that its citizens have a good standard of living, access to high-quality and cheap health care, and a uniform educational system.

Wifi Speed

  • Austria demonstrated the fastest median download speed during Q2 2021 with 98.79 Mbps

Electrical outlet

  • For Austria, there are two associated plug types, types C and F. Plug type C is the plug that has two round pins and plug type F is the plug that has two round pins with two earth clips on the side. Austria operates on a 230V supply voltage and 50Hz.

Per Capita GDP 

Real GDP per capita

  • $56,188 (2019 est.)
  • $55,631 (2018 est.)
  • $54,496 (2017 est.)

note: data are in 2010 dollars

 

Climate

  • temperate; continental, cloudy; cold winters with frequent rain and some snow in lowlands and snow in mountains; moderate summers with occasional showers

Citizenship-by-Investment

  • As an Austrian citizen, you have the freedom to live and work anywhere in the EU at any time.
  • The Austrian passport has a good reputation and enables a wide range of visa-free or visa-on-arrival travel options, including visa-free travel to the United States. It is without a doubt one of the world's best travel documents.
  • When you become an Austrian citizen under the Austrian Citizenship Act, you and your family have full citizenship for life, which can be passed down through the generations.

Investment

  • The investment is typically a minimum of €10 million if injected directly into a business or €3 million as a contribution to the government development fund.

Processing Time

  • An application typically takes 24–36 months to complete. By the decision of the Austrian government, successful applicants are granted full citizenship of the Republic of Austria and can apply for a passport immediately. Within a few days, passports are issued.
  • Because it falls under government regulations relating to privacy or official secrets, the grant of citizenship is not made public and is not communicated to any other country.

Key Benefits

  • Opportunity to become an EU citizen upon making a substantial capital contribution
  • Visa-free or visa-on-arrival access to 185 destinations worldwide
  • The right to reside anywhere else in the EU, as well as in Switzerland
  • No requirement to reside in Austria

Requirements

To qualify for an instant passport, the applicant must actively contribute to the Austrian economy, either through a joint venture or investment in a business that creates jobs or generates new export sales, according to the Austrian Citizenship Act. Alternatively, the investor might make a one-time donation to a government-sponsored fund.

Austria, unlike other Golden Visa schemes, does not accept passive investments in government bonds or real estate. Only a substantial direct investment is acknowledged. Furthermore, the Austrian government considers applications on an individual basis.

While the investment amounts aren’t set in stone (but usually range from €2-10 million), there are several rules in place for investors. 

  • The main applicant must have a notable influence over an entity
  • The entity should have a strong economic performance indicator
  • A significant number of full-time jobs are to be created from the investment
  • The substantial investment must be made (usually in the millions)
  • The entity has to have an international reputation
  • The achievements of the investor must support Austria’s external relations in the economic sector.

Procedures and Time Frame

  • In application typically takes 24–36 months to complete. By the decision of the Austrian government, successful applicants are granted full citizenship of the Republic of Austria and can apply for a passport immediately. Within a few days, passports are issued.
  • Because it falls under government regulations relating to privacy or official secrets, the grant of citizenship is not made public and is not communicated to any other country

Natural Resources

  • Oil, coal, lignite, timber, iron ore, copper, zinc, antimony, magnesite, tungsten, graphite, salt, hydropower

Ethnic Groups

  • Austrian 80.8%, German 2.6%,  Bosnian and Herzegovinian 1.9%, Turkish 1.8%, Serbian 1.6%, Romanian 1.3%, other 10% (2018 est.)

 Languages

  • German (official nationwide) 88.6%, Turkish 2.3%, Serbian 2.2%, Croatian (official in Burgenland) 1.6%, other (includes Slovene, official in southern Carinthia, and Hungarian, official in Burgenland) 5.3% (2001 est.)

Religion

  • Catholic 57%, Eastern Orthodox 8.7%, Muslim 7.9%, Evangelical Christian 3.3%, other/none/unspecified 23.1% (2018 est.)

Median Age

  • total: 44.5 years
  • male: 43.1 years
  • female: 45.8 years (2020 est.)

Urbanization

  • urban population: 59% of total population (2021)
  • rate of urbanization: 0.68% annual rate of change (2020-25 est.)

 Physician density

  • 5.17 physicians/1,000 population (2017)

Government type

  • federal parliamentary republic

 Unemployment Rate

  • 7.35% (2019 est.)
  • 7.7% (2018 est.)

Taxes

Headline Personal Income Tax Rate (highest marginal tax rate) - 55%

Headline Corporate Income Tax Rate (excluding dividend taxes) - 25%

 

 

 

 

 

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