Immigration consultant's notes. How to move to Austria together with own Startup.

According to most experts, Austria is not among the world leaders in the startup movement, but American Forbes approves Austria has steadily “settled” somewhere in the top seven in Europe.

According to the Austrian authorities themselves, in recent years, the country “has gone from a sleeping beauty to innovation and progress”, and now the most favorable conditions have been created for everyone who wants to reveal their creative and entrepreneurial potential.

It is no secret that Austria is distinguished by rather high taxes, which alarms both entrepreneurs and investors. However, in February this year, the sworn-in new Austrian government published plans to reform the tax system in 2020–2024, as a result of which the following taxes will be reduced:

• personal income tax rates - 2 - 5% depending on the amount of income,
• corporate tax rates from current 25% to 21%, etc.

So there is hope for an improvement in the tax climate. But not only taxes determine the attractiveness of a jurisdiction for a startup.

What requirements must the project founders meet in order to become the holder of a long-stay visa in Austria?

As a third-country national, the applicant is entitled to receive a long-term RWR Card under the following conditions:

• a company is registered to develop and market innovative products, services, processing methods or technologies,
• for the implementation of the project, a detailed business plan has been formed,
• the applicant is ready to personally participate in the management of the company,
• the applicant has at his disposal the capital invested in the company being created in the amount of at least 50,000 euro with a share of the applicant of at least 50%,
• the applicant scores at least 50 points in accordance with the requirements of the Austrian immigration authorities (qualifications, work experience, knowledge of the language, age, availability of additional funds for investments, assistance to the project from the business incubator or startup financing agency).

The term for consideration of documents is at least 3 weeks. RWR Card is issued for a period of 24 months, after which RWR Card Plus can be obtained, and subsequently permanent residence status.

Briefly about financing. The Austrian Research Promotion Agency and the Austrian Federal Promotional Bank play a prominent role in promoting and subsidizing Startup companies by providing them with grants, loans and necessary guarantees. No less active are Speedinvest and the Austrian Angel Investor Association. So worthy projects may well rely on material support from local sources.

Concerning the organization of Startup projects in Austria, obtaining the appropriate visas, arranging financing, contact the specialists of our company.