Secure your financial assets as an expat in Austria

Post new topic

Cheryl Moderator

Member since 15 October 2018

CherylModerator23 June 2023 05:38:47

12357

Hello everyone,

As we navigate the exciting world of living and working in Austria, it's essential to make informed decisions about our financial future.
We’d love to hear about the different investment options available for expats: how to invest in Austria or in your home country, explore international options or use online accounts.

To kick off the discussion, here are some guiding questions:

What are the investment opportunities as an expat in Austria? Are there any specific investment programs?

In your opinion, what are the advantages and disadvantages of investing internationally ? How is your experience with international investments?

What specific points should you consider regarding your investments as an expat (exchange rate management, international tax obligations or repatriation of funds)?

Do you use specialized banking services for expats, such as multi-currency accounts? What are the pros of these services and how do they help you with your finances?

How is the property market for expats? Are there any specific regulations or aspects we should be aware of when investing in real estate in Austria?

What strategies do you apply to save and invest for your financial future in Austria and/or to secure your children's financial future?

Thank you very much for sharing your experience with us!

Cheryl
Expat.com Team

Keloy Active member

Member since 28 August 2022

KeloyActive member03 August 2023 16:02:11

@Cheryl

In Austria , different state has different real estate purchase regulation.

Some state government doesn´t allow non-AT citizen to purchase real estate.

AT = Austria.

But if you are European , then it could workable.

Also, consider the tax and notary / lawyer fee and bank loan interest rate ,

invest Austria real estate is difficult to earn profit.

All the profit you earn , AT government also charge the tax.

Unless , you invest real estate stock.

Saving money at Austria bank, the interest rate is low.

And also , investor need pay bank monthly fee and tax.

So , overall, Austria is not good place to invest.

Maybe only good for studying.

Vanessa2909 Active member

Member since 25 August 2020

Vanessa2909Active member23 August 2023 04:23:04

@Cheryl

As someone from Austria I can say that property nowadays is very expensive and the earned rent does not even cover the repayment of the loan and maintenance fees per month. Also the city Vienna does restrict short term rentals. So starting from 01.01.2024 you're not allowed to rent your property short term for more than 90 days.

You can apply for an exemption but I did read that it's very hard to get in the future. If you google airbnb and Vienna you can find some new articles since this was agreed a few days ago from the Gov. in Vienna.

Also be aware that you can just buy property as an AT- citizen, EU-citizen living in AT. If you are from another country you need to apply at the MA35 and declare what you intend to buy and need a confirmation from them that they allow you to to so. A unlimited AT-residence permit of course helps getting this confirmation.

Also bank laws changed in the AT and since last summer you need at least 20% of the property as own contribution and of course you need to cover all fees like notary, registration .... wich makes at least 27-30% of the property you need to have in cash.

Also considering the high interested currently I don't think that property is currently a good option. I would rather wait a few years until the EZB is again decreasing interests.

Besides from this I invest in ETF via Trade Republic which you can easily use in AT as someone having another citizenship.

Cheryl Moderator

Member since 15 October 2018

CherylModerator23 August 2023 06:07:43

12357

Hello everyone,

I would like to thank you for your informative contributions to this thread.

Cheers,

Cheryl

Expat.com team

Articles to help you in your expat project in Austria

Accommodation in Vienna
Like in any other big city, you will find various types of rental options in and surrounding the centre of Vienna. ...
Accommodation in Austria
There is a wide range of accommodation options available in Austria, from apartments and houses for rent to ...
The tax system in Austria
Tax revenue is a crucial element of the Austrian economy and plays a significant role in funding essential ...
Relocating to Austria with your pets
Austria is known to be a very pet-friendly country, and most house owners have various of them. So there ...
Moving to Austria with children
There are several international schools in Austria, located mainly in Vienna and Salzburg. These schools provide a ...
Choosing your neighborhood in Vienna
Vienna might seem like a rather scenic and calm city with its beautiful historical buildings and classy looks. ...
Accidents and emergencies in Austria
It is important to be prepared and aware of the available resources in case of an emergency or when needing ...
Phones, internet and mail in Austria
Austria offers fast and secure telecommunications throughout the country and has been known to be ...