Austria, one of Europe's wealthiest countries and one of the most attractive and well-developed countries in the world to live in, makes for an outstanding place of residence. Pre-immigration tax planning is required before establishing permanent residency in Austria, but interesting opportunities exist for wealthy families. An Austrian residence permit allows visa free travel to the Schengen area.

Austria offers 10 types of residence permits for the applicants and their families. The permits do not require an investment obligation and therefore the total costs of the residence permit application are comparably low. An Austrian residence permit allows visa-free travel to the Schengen area and the processing time can take from three to fourteen months, depending on the type of permit.

The grant of citizenship is subject to the discretion of the Austrian federal government. In general, a minimum of six and up to ten years of uninterrupted residency is normally required before one can apply for Austrian citizenship, depending on the category of the residence permit. Knowledge of the German language is required, as well as of relinquishment of all other citizenships. 

The processing time for a residence permit can take from 3 to 14 months, depending on the type of the permit, which is fairly efficient when compared to other countries. The due diligence processes are reasonable with minimal bureaucratic and application requirements.

Citizenship is also possible to obtain where an applicant actively invests by economic contributions in the Austrian economy.