New quota for 2014 regarding Austrian residence permits for persons of independent means

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New quota for 2014 regarding Austrian residence permits for persons of independent means

Monday, 20 January, 2014

The quota 2014 regarding residence permits without gainful employment increased slightly. In detail Austria offers this year 5228 quota places, which represents an increase of about 1,8%, whereof only 285 (places available 2013: 275) are subject to the so-called "privateers", who want to establish a residence without gainful activity in Austria.

In order to be authorized to take up residence in Austria without pursuing a gainful activity, people of private means need to file an application with the local authorities of the place they intend to reside. The application has to be filed at the Austrian Embassy/Consulate in the home country of the applicant first. This type of residence permit will be granted especially if one can prove that he possess sufficient financial means not to have to rely on Austrian social security benefits as well as some other preconditions (lodging, German speaking skills etc). Furthermore, the applicant needs to show that he has taken out adequate accident and health insurance. Renewal arrangements have been put in place and after six years of legal residence the applicant (the families) will be able to apply for citizenship, if certain requirements are fulfilled.