If you are a qualified worker from a third country and wish to live as well as work in Austria, you will have to apply for the Red-White-Red Card.
The Red-White-Red Card is a residence and work permit issued with a validity of 2 years. The holder of a Red-White-Red Card is entitled to a fixed-term settlement in Austria as well as employment with a particular employer (that is, the employer specified in your application).
Simply put, the Red-White-Red Card is a single permit for qualified third country nationals and their families for working and settling in Austria permanently.