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The residence permit, or the NiederlassungsnachweiI, which is given to people that actually want to settle down and live in Austria. The documentation requirements are basically the same as they are in all of the other European Union countries. Note that there are some cases in which US citizens and highly skilled workers are allowed to apply for the residence visa while already in the country on a tourist visa. This is done on a case by case basis, so it would be best to do all the paperwork from the US.

When you get your residence permit, your spouse and children are automatically eligible to live with you as well, as long as the immigration quota allows it. Austria has a somewhat strict immigration quota system, which leaves some families spending years awaiting the time when they can all be allowed to legally reside in Austria.
Under the category of persons of independent means, the key criteria are that you have sufficient funds (you must be able to show that you have at least EUR 80,000 in liquid assets at your disposal, in the form of a statement of account from an Austrian or major international bank), permanent accommodation in Austria, and health insurance that provides full cover in Austria.
A spouse and children under 18 years can be included in an application. Due to a strictly applied quota system, the processing time for applications under this category can, however, be lengthy. Requirements

Key Advantages of Austria

  1. Opportunity to establish residence as a person of independent means
  2. Austrian residence permit gives visa-free access to all Schengen States
  3. There is no need to spend any particular time actually residing in Austria
  4. Citizenship may be available after 10 years of residence
  5. Citizenship-by-investment possible without prior residence for substantial investors
  6. Attractive lifestyle and healthy environment
  7. Excellent transport and communications