The Republic of Austria offers one of the highest living standards in the world. It is one of the smallest countries in Europe but it has a world class capital, Vienna, rich with cultural and historic heritage. It is the only EU country beside Slovakia with an established practice of offering citizenship and a passport to substantial investors without prior residence requirements on the basis of investment in the country.
Some advantages include:
- Possibility of establishing residence as a person of independent means
- Austrian residence permit gives visa-free access to all Schengen States
- There is no need to spend any particular time actually residing in Austria
- Citizenship may be available after 10 years of residence
- Citizenship-by-investment possible without prior residence for substantial investors
- Attractive lifestyle and healthy environment
- Excellent transport and communications
The legal framework of an Austrian private foundation is regulated in the Private Foundation Act (PSG) 1993. The Austrian private foundation is a legal person. Its structure is characterised by having no shareholder or proprietor but having no beneficiaries instead. The foundation must be domiciled in Austria and entered into the Commercial register.