Moving money from the US (or any other country) to Austria can be a strategic move – but it comes with questions around timing, taxation, and structure. Here’s a practical guide we at Invest Expat use with our clients to ensure a smooth and tax-efficient transfer of funds.

Step 1: What Kind of Funds Are We Talking About?

Before transferring, clarify what kind of money you’re dealing with:

• 💼 Cash savings in US bank accounts

• 📈 Investments like ETFs, stocks, or mutual funds

• 🏦 IRA or 401(k) retirement accounts

• 📊 Company shares, private equity, or crypto

Each type has different tax implications and restrictions.

💰 Step 2: Selling and Taxation in the Country of Origin

If your funds are invested, they usually need to be liquidated first:

• In the US, capital gains tax applies when selling investments.

• IRA/401(k): Early withdrawals may be penalized and are fully taxable.

• Crypto and non-listed assets might have complex reporting needs.

✅ We support you in:

• Understanding US tax consequences – with help of your Tax advisor in your home country

• Planning the right moment to sell

• Coordinating with your financial planner to avoid costly mistakes!

🧑‍💻 We Speak to Your Financial Planner or Banker

We regularly speak directly with your advisor, banker or CPA, together with you or on your behalf – to coordinate a strategy that works across both financial systems.
This avoids misunderstandings and ensures you get the best solution from both worlds.

🏦 Step 3: Bank Verification & Large Transfers

Once in cash, transferring large amounts requires:

• Source-of-funds verification (standard with Austrian and EU banks)

• Documentation like:
  🔹 US tax return
  🔹 Asset sale confirmation
  🔹 Identity and address proof

We can assist in preparing these documents efficiently and professionally – banks appreciate when things are done right the first time. Once the KYC is done its pretty straight forward to transfer it to a bank in Austria (fees may apply from banks)

💶 Step 4: Currency Conversion & Timing

Converting USD to EUR needs strategy:

• Even a 1–2% rate difference can save or cost you thousands.

• We help you monitor the Conversion rate, and recommend multi-stage conversions or specialized FX providers if needed. Many of our clients use https://wise.com/

💡 This is especially important if you plan to invest or buy property in Austria.

🇦🇹 Step 5: Austrian Tax Implications (Especially for Long-Term Residents)

If you’re planning to stay in Austria long term, your global income and assets become more relevant:

• You may face Austrian capital gains tax (KESt) or wealth-related declarations

• The Austria–US double tax treaty helps avoid double taxation – but needs to be used correctly

• You might need to declare foreign accounts under Austrian law

🔍 We collaborate with Austrian tax advisors to:

• Clarify whether taxes are due again in Austria

• Apply treaty benefits correctly

• Make sure you stay compliant but tax-efficient

🏁 Conclusion: Long-Term Strategy, Not Just a Transfer

For long-term residents in Austria, moving money from the US is not just a one-time task – it’s part of your overall wealth strategy.

At Invest Expat, we help you:

1. Understand your assets and risks

2. Coordinate with your advisor or banker

3. Transfer and convert money tax-optimized

4. Avoid double taxation

5. Build wealth efficiently in Austria

📩 Book a free call – Let’s design the best cross-border financial strategy for your long-term success in Europe.