Life in Austria: Education, Investments, Real Estate. Advantages and disadvantages

Austria is one of the most stable countries in the world. With an efficient economy, great opportunities for business, top universities, and impeccable safety—there are countless advantages. Austria truly excels, and this isn't just an opinion. Simply glance at the various rankings on quality of life, GDP per capita, etc. Austria has always been, and will remain, among the leaders.

However, don't limit yourself to rankings alone. If you genuinely want to move to Austria, you need to dig deeper into the situation. It’s essential to listen to people who already live in this country and have some experience.

We’ve collected some interesting stories from our clients who live in Austria. We think you'll find this firsthand information useful.

"Austrians live by a schedule."

Olga Serikova. Experience: 8 years

The first thing to come to terms with is that the Austrian mentality differs from ours. You’ll unlikely find people with a similar mindset (i.e., close to the Slavic spirit) in this country. The best approach is to accept Austrians as they are and start gradually learning their culture, traditions, and habits.

Of course, you can make friends in Austria, but these relationships will resemble more of a mutually beneficial partnership. It’s also important to understand this: Austrians don’t like unexpected visits. You can't just drop in on friends with a bottle of wine; spontaneity won’t be appreciated. Everything is planned—you need to arrange meetings weeks, or better yet, a month ahead. Austrians are perfectionists who aren’t used to wasting time.

"Want to become a disciplined person? Move to Austria."

Alexander Senin. Experience: 2 years

I studied at an Austrian university, and the country struck a chord with me, but after finishing my studies, I had to return home. I worked in Russia for 4 years and then decided to move to Europe and start my own business. For this purpose, I chose Malta because of its favorable tax system. However, I wanted to live in a stable, comfortable country. Germany and France, for example, were out of the question since obtaining residency status there is difficult. After considering my options, I chose Austria. First of all, it’s an excellent country in every sense. Secondly, getting a residence permit in Austria is straightforward with a program for financially independent individuals.

The first thing I noticed was the absence of traffic jams in Vienna, unlike in Moscow. The city administration developed a special program to tackle this issue and has been implementing it effectively. I love that Austrians are disciplined; they strictly follow schedules, stick to instructions, and don’t break rules. You need to plan, sometimes even a year in advance.

"They don’t like to open up here."

Inna Valikhnovskaya. Experience: 4 years

Austrians are friendly, polite, and smile a lot, but on the other hand, they don’t discuss their personal lives or like to confide. Sure, you can tell them about your problems, and they’ll politely nod, but that’s the end of it. There’s no warmth or heartfelt conversations. My family and I have lived here for 4 years, and we still haven’t gotten used to this trait. Back home in Kyiv, it’s different.

My husband obtained Austrian residency through the financially independent program. According to the rules, we must live in Austria for at least 183 days a year. The rest of the time, we live in Ukraine, so we don’t get too overwhelmed by the cultural contrasts.

"You can meet millionaires in the supermarket."

Sergey Prikhodko. Experience: 6 years

Austria offers countless business opportunities, so there’s no shortage of wealthy people. However, they don’t stand out much among regular citizens. I like that there’s no pretentiousness or show-off culture here.

Austrian millionaires shop in the same supermarkets and visit the same beauty salons as everyone else. For instance, I worked out in the same gym with a married couple for two years before I found out they owned a chain of restaurants.

In Austria, people don’t flaunt expensive brands. They prefer simple, comfortable clothing. Business suits are for the office only. Austrian women don’t wear bright clothes or a lot of accessories. Cars are chosen for comfort and efficiency, not for their high price.

Pros and Cons of Life in Austria

Cons:

Ilona Bezuhla. You can’t go shopping on Sundays—all the stores are closed. The only options are souvenir shops or gas stations.

Ivan Soldatenko. Unfortunately, women don’t take care of themselves as well as Slavic women, so they aren’t as attractive.

Irina Volkova. Here, people usually start living in civil unions between the ages of 23-26. Marriage, buying property, building a life, and having children come after 30. In rural areas, it happens a bit earlier. However, there are many divorces. Among couples aged 45-50, few are still in their first marriage—most are on their second or even third.

Jan Voytekhov. Austrian cuisine doesn’t suit everyone. Schnitzels, potatoes, specific salads, and sauces are not the most diet-friendly or healthy foods.

Pros:

Ilona Bezuhla. Stable economy, reliable banks, cleanliness, beautiful nature, and high-quality services across the board.

Ivan Soldatenko. The transparent and straightforward program for obtaining residency for financially independent individuals. After 6-10 years, you can get a passport.

Irina Volkova. Visa-free access to as many as 140 countries. Travel without borders!

Jan Voytekhov. Education at universities is affordable yet of high quality, providing excellent career opportunities.

How to Obtain a Residence Permit in Austria

Living in Austria is pleasant and comfortable. Yes, there are some cultural differences, but they aren’t overwhelming.

You can obtain Austrian residency through a program for financially independent individuals. The requirements are as follows:

• The main applicant’s spouse and minor children can participate.
• You need to show a monthly income of €1,745 for one person, €2,616 for a couple, and an additional €269 for each child.
• You must own or rent property in Austria.
• Everyone in the family must have health insurance.
• You need to demonstrate a certain level of German proficiency by providing a certificate.

If you live in Austria continuously for five years, you can obtain permanent residency, and after 6-10 years, you can apply for citizenship, provided that you meet all program requirements.

Under the program’s conditions, you must live in Austria for at least 183 days a year. In other words, this option is suitable for those who are committed to moving abroad and building their lives there.

If you’d like to know more about Austrian residency, feel free to contact us for assistance. We’ll tell you everything you need to know.

What Foreign Citizens Need to Know When Buying Real Estate in Austria

Clients of the GARANT.in Immigration Center often express their desire to own a home in a country with a high standard of living. However, owning property does not always grant the right to long-term residency in the country. A lack of understanding of immigration laws can lead to the cherished property becoming a burden for its owners. Our experts have many years of experience working with such requests and often recommend purchasing property in Austria, based on the client’s initial capabilities and goals. Austria is the ideal place to start a new life, with a developed economy, high-quality infrastructure, and vast opportunities.

So, the decision is made! Let's move forward with its implementation!

Austrian Education: Top 10 Universities

Austrian education is a benchmark of high quality. Graduates from good universities in this country never struggle to find jobs. Furthermore, a diploma from a prestigious European university is a guarantee that life will, at the very least, be prosperous. In this article, we will introduce you to the top ten universities in Austria.

For parents of future students, we recommend seriously considering obtaining a residence permit (residency). With this status, you can stay in the country for an unlimited amount of time alongside your child, and in the future, you may even be able to gain Austrian citizenship.

Advantages of Studying in Austria

• Affordable Prices: At first glance, tuition fees in Austria may seem high, but they are quite affordable by European standards. Austria is one of the best countries in terms of price-to-quality ratio for education.
• High-Level Education: Austrian university students have access to the latest technologies and are taught using the best methods. The teaching staff consists of professionals with significant practical experience.
• Wide Selection of Programs: Major educational institutions offer 50-70 bachelor's and master's programs.
• High Demand: Austrian university diplomas are highly valued worldwide. Graduates can easily find jobs in major international companies or start their businesses.
• High Living Standards: In addition to education, students will immerse themselves in life in one of the most prosperous countries in the world. Austria is known for its high living standards, low crime rates, high-quality products and services, and beautiful nature.

Tuition Fees

The average tuition fee in Austria is around €1,620-1,650 per year for international students and €725-765 per year for Austrian citizens. Accommodation costs between €800 and €1,600 per year, depending on the university and living conditions.

Master's programs may cost between €1,800 and €2,000 per year.

Top 10 Universities in Austria

1. University of Vienna: The most prestigious university in Austria, located in the capital. Founded in the 14th century, it has produced 15 Nobel laureates.
2. Leopold and Franz University of Innsbruck: Established in 1869, this university excels in medicine, pharmacy, chemistry, physics, IT, and humanities.
3. Vienna University of Technology: Founded in 1815, this is one of the best technical universities in Europe and the world. Engineering and natural sciences are especially popular.
4. University of Graz: Founded in 1585, it's the second-largest university in the country and has produced six Nobel laureates.
5. Johannes Kepler University Linz: Established in 1966, it’s ideal for those seeking knowledge in engineering, modern technology, economics, and business.
6. Medical University of Vienna: Established in 1365, this institution has a long history, and it offers programs in general medicine and dentistry.
7. University of Klagenfurt: Located in the beautiful province of Carinthia, it offers programs in humanities, technical sciences, management, and economics.
8. University of Salzburg: Founded in 1622, this university offers programs in law, cultural and social sciences, natural sciences, history, art, and languages.
9. Medical University of Graz: Known for its Clinical Skills Center, which provides excellent practical training for students.
10. Graz University of Technology: A great choice for those aiming for a career in technical fields. Nikola Tesla is one of its most famous alumni.

Other Good Austrian Universities

There are many more outstanding universities in Austria, including the Academy of Fine Arts, the University of Applied Arts, the University of Music and Performing Arts, and the Vienna Film Academy. Top-notch programs in economics and finance are offered by the Vienna Central State University, the Lauder Business School, and the Vienna University of Economics and Business.

Buying Real Estate in Austria

It is important to note that purchasing real estate in Austria does not automatically grant residency or Austrian citizenship. The process works the other way around: foreign citizens must first obtain Austrian residency before acquiring the right to purchase property. However, foreigners are not completely barred from buying real estate. Before obtaining a residence permit, they can purchase property with permission from local authorities, provided they meet certain conditions, such as living in the region for at least three years.

One of the Most Crucial Procedures: Austrian Bank Verification

Before finalizing a property transaction, a buyer must open an account with a local bank. The bank will thoroughly examine the buyer’s funds and, in the case of a mortgage, assess their creditworthiness.

The documentation includes a passport copy, a questionnaire, and a written biography.

Conclusion

For foreigners, completing a real estate transaction in Austria is only possible after the local bank approves the buyer’s financial background. Although this is a standard procedure for law-abiding citizens, foreign buyers should be prepared, as Austrian authorities are not eager to grant property rights to non-residents.

For more detailed information, contact GARANT.in specialists. Our expertise will help you achieve your goals.