I have a somewhat similar situation with regard to my eligibility for dual US and Austrian citizenship.
My mother was an Austrian refugee who fled from the Nazi's and moved to the US in 1939 (leaving behind her parents who died in a concentration camp). Before my mom passed away (in 1995) she applied for and received an Austrian old age pension under a law, passed in 1990, making refugees eligible for such pensions. Now, I have just learned that under a new 2020 Austrian law I am eligible for Austrian citizenship (as are my sons and grandkids as other direct descendants). Under this 2020 law Austria will also allow me to retain my American citizenship (normally new Austrian citizens are required to relinquish their previous citizenship).
My mother put together almost all of the documentation I'll need when she applied for her pension (Austrian birth records, police report on her parents, addresses, gymnasium records, naturalization, papers, wedding license, etc.), even a letter vouching for her from an old gymnasium classmate who had become the Austrian consul in Chicago. The only other things I need are my own birth certificate, FBI report, passport, etc.
Having Austrian citizenship would allow me to live and work anywhere in Europe, where my wife and I currently spend about 3 months a year. It would also provide access to a European safe haven, if needed. While my wife wouldn't automatically get citizenship, she too would be able to live in Europe and would be eligible for Austrian citizenship in 5 or 6 years.
I can't see any downside, except for a little time and some document fees. At this point I'm FI and nearly fully retired, and would likely retain US residence, so I don't see any tax advantages or disadvantages either. Does anyone else have any thoughts?
My mother was an Austrian refugee who fled from the Nazi's and moved to the US in 1939 (leaving behind her parents who died in a concentration camp). Before my mom passed away (in 1995) she applied for and received an Austrian old age pension under a law, passed in 1990, making refugees eligible for such pensions. Now, I have just learned that under a new 2020 Austrian law I am eligible for Austrian citizenship (as are my sons and grandkids as other direct descendants). Under this 2020 law Austria will also allow me to retain my American citizenship (normally new Austrian citizens are required to relinquish their previous citizenship).
My mother put together almost all of the documentation I'll need when she applied for her pension (Austrian birth records, police report on her parents, addresses, gymnasium records, naturalization, papers, wedding license, etc.), even a letter vouching for her from an old gymnasium classmate who had become the Austrian consul in Chicago. The only other things I need are my own birth certificate, FBI report, passport, etc.
Having Austrian citizenship would allow me to live and work anywhere in Europe, where my wife and I currently spend about 3 months a year. It would also provide access to a European safe haven, if needed. While my wife wouldn't automatically get citizenship, she too would be able to live in Europe and would be eligible for Austrian citizenship in 5 or 6 years.
I can't see any downside, except for a little time and some document fees. At this point I'm FI and nearly fully retired, and would likely retain US residence, so I don't see any tax advantages or disadvantages either. Does anyone else have any thoughts?