7/6/2023
Austria - more than a turist destination
Austria is an increasingly popular destination for foreign investors, and the Israeli ones are no exception. With a stable political and economic environment, as well as a highly skilled workforce, Austria offers many opportunities for those looking to invest. in addition, there is a high degree of legal certainty in Austria, which is highly appreciated by investors.
Thus, there are several ways for Israelis to place an investment in Austria:
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to purchase real estate in Austria,
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to establish a company in Austria or to acquire shares of an Austrian company, or
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to transfer assets to an Austrian bank account.
The Austrian real estate market is of particular interest to Israeli investors. Austria has a high standard of living and is a popular destination for tourists, leading to strong demand for real estate properties for purchase and rent (both for short and long-term periods). The country’s capital, Vienna, is particularly attractive to investors, with its stunning architecture, rich cultural history, and bustling economy. In addition, Austria offers a stable legal system, making it a safe and secure option for those looking to invest in the real estate market.
However, in general, the possibility of acquiring a property in Austria exists only if the purchaser is a citizen of an EU member state.
If the purchaser does not have a EU member state citizenship, it is possible to acquire real estate through the establishment of limited liability companies with its registered seat in a member state of the European Union.
Another way to benefit from the safe conditions in Austria can be found by investing in Austrian companies or establishing a new company in Austria. The establishment of the various kinds of companies in Austria that fit to the individual situation and needs (from a partnership or a joint venture to limited liability company) is easy and can be done by an attorney-at-law in cooperation with a public notary in short time and with bilingual documents.
However, it is also possible for private persons to transfer assets acquired in Israel to an Austrian bank. Although it is not easy to open a bank account in Austria without having a permanent residency there, there are a few banks in Vienna that do offer 'tailored' options to Israelis, offer service in Hebrew, and are very familiar with both the living conditions and the political situation in Israel and Austria.
Our partners at the Israel Desk in Austria have already collected manifold experiences in connecting our Israeli clients with local real estate agents, banks, and other professionals (e.g. translators) that can provide various services to our clients regarding the different ways to invest in Austria. They can also assist Israelis in order to find a customized legal solutions that fits the induvial situation of the client. Moreover, our partners at the Israel desk in our Vienna branch have employees that native in Hebrew and Russian (and of course English).
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