АВСТРИЯ: ИММИГРАЦИЯ ДЛЯ СТАРТАПОВ

REQUIREMENTS

There is a complicated system in play by the Austrian government in order to select the best possible candidates among the thousands who have chosen to try their luck in one of the most prosperous nations, so we have listed some key ingredients to success for an entrepreneur in Austria. You have to:

• Establish a company in the fields of innovative products, services, processing methods or technologies;
• Submit a coherent business plan for establishing and running that company;
• Promise to personally manage the newly set-up company as a key player;
• Prove capital for the company to be founded, amounting to €50,000 at minimum;
• You will have legal control of the company with an equity share of at least 50 %.

In addition to the above, you also have to score enough points on a scaled system. We have omitted the exact details of the point accumulation system, as you can obtain it in detail with our experts. However, a general rule of thumb is that you have a better chance of success if you:

• Graduated from a post-secondary institute in a subject matter related to your prospective business, and even better if you graduated in Austria;
• Have higher education degrees such as master’s or PhD;
• Have multiple years of work experience;
• Speak English or German, with higher levels being rewarded more points;
• Below 35 years of age;
• Vow to invest an additional €50,000 into your company;
• Are accepted into an Austrian incubator;
• Obtain funding from a start-up support organization in Austria.

And of course, the general residence requirement in Austria apply, even for entrepreneurs:

• You have a comprehensive health insurance that covers the entirety of Austria;
• You have acquired an address in Austria, either via renting or purchasing;
• You have sufficient funds or income to survive in Austria while your company has not produced revenue.

DOCUMENTS

There is a myriad of required documents simply because of the many criteria that may give you a higher score in the system, but most of them are not absolutely mandatory. However, Inimex has consistently found the competition to be fierce, so we recommend you hire a professional to gather, translate and legalize the documents so that you do not miss the best time to submit the application, and obtain the best odds of success. The mandatory documents are:

• Identity documents, such as passport, birth certificate, photos, and marriage certificate;
• Criminal record of your local police authorities;
• Proof of sufficient funds to reside in Austria as long as your company is not profitable, such as bank statements, other passive income such as rent, etc.;
• A document showing your resident address in Austria, can be either a rental contract or ownership deed;
• A health insurance that showcases its coverage all around the country of Austria;
• Your business plan, clearly written and viable;
• Evidence of your investment of a minimum of €50,000;
• Company’s articles of association, if you founded the company with additional persons.

Documents that earn you a higher score on the points system, the more, the merrier:

• Your past education documents: degrees, diplomas, vocational training certificates, work certificates, etc.;
• Your past training records in Austria;
• Work testimonials and certificates;
• Language diploma or certificate in government-accepted language tests in English or German;
• Evidence of additional investments;
• Admission document of an Austrian incubator or investment fund.

The relevant authorities reserve the right to demand additional documents at any stage of the inspection.

PROCESS

The procedures required for an application as an entrepreneur wishing to go to Austria varies depending on where you are from. If you are from the Schengen Area and have freedom of movement including Austria, you can come to Austria first and then apply locally. However, for most of the Inimex clients, they are not as lucky and have to apply at their local Austria embassy or consulate, and it goes as the following:

1. All documents are properly prepared, Inimex accompanies you to submit the application at the local Austrian consulate or embassy;
2. Your file goes to preliminary stage, being reviewed by the embassy for the general documents and requirements;
3. If you pass the basic income and criminal record requirement, your file is forwarded to Public Employment Service for the allocation of points, and sometimes, they can demand additional documents;
4. If you pass the required amount of points necessary to proceed, an approval is sent to your local Austrian authority from the Public Employment Service;
5. Your local consulate double checks your eligibility, and issues you a residence card;
6. Your first residence card, valid for 1 year, is renewable for another year as long as your investment is in tact;
7. Once two years have passed, you can obtain the next card;
8. The third card is valid for 3 years;
9. After 5 years of legal residence status in Austria, you may obtain the permanent residency, and it is valid for 10 years.

ADDENDUM

Some other interesting and potentially crucial information is included here by our local immigration expert team:

• You can change your status to other types, such as a highly-skilled worker, but you will have to satisfy its conditions, and apply directly in Austria as long as you hold legal residence in the country;
• Your spouse and dependent children are regarded as your family unit and can move together with you to enjoy the same status and benefits;
• The Austrian government maintains a quota for immigration each year, and it is advised to consult Inimex before proceeding to final submission, in case of quota restrictions;
• Citizenship: after you have lived in Austria for 10 years, you are eligible for citizenship.