Business registration in Austria

Austria is a country with rich cultural and economic heritage. Here, together with strong performance of social welfare, evolves well-developed taxation system, which has became a prerequisite for rapid economic growth. Concern of the state for entrepreneurs as essential sources of the budgetary filling, beneficially underlines this state among its closest neighbors. In this connection, more and more citizens intend to open a business in Austria.

Business in Austria

Due to clear understanding of significance of attracting fresh foreign contributions, leadership of the state created own national agency on attracting investors, Austrian Business Agency, some time ago. Functional responsibilities of this structure include consulting investors intending to establish firms with Austrian origin. Membership in the EU and EEA encourages free capital movement, which is confirmed by growing GDP in comparison with previous years. Opening a business in Austria became incomparably easier and more profitable. And it is not a myth. In addition, to exclude double taxation, the state concluded relevant agreements with many neighbors.

Open a business in Austria: forms aand short description

Depending on the intended objectives, level of responsibility, there are following type of companies:  

1. Private entrepreneur.
   • These is no requirement of mandatory registration in the main register of entrepreneurships. The founder is responsible for obligations of a company by all his property.
2. Partnership.
   • Requires participation of at least 2 individuals or legal entities. It is not required to make initial contributions. It is taxed only at the level of its members.
3. Full partnership.
   • Participants have equal rights. There is no limitation for responsibility by his property for obligations of a companion.
4. Kommandit partnership.
   • Prescribes one main companion responsible by all his property when ohters - within previously agreed amount.
5. Limited liability company.
   • The most common. Anyone, even non-resident, may be a participant. The individual responsibility to in relation creditors.
6. Joint-stock company.
   • It is often applicable to establish large entreprises. At least four persons must be participants: manager and representatives of supervisory council.

Opening a business in Austria is also attractive because of applicable adjustable taxation rates. They range from 10 to 25%, depending on the area of sales: inside or outside the country. This fact often encourages foreigners to purchase a business in Austria.

Business registration in Austria: Procedure

Business registration in Austria, along with simplicity and ease of management, is quite labour-intensive and long-term. The procedure will take up to 22 days and, as a matter of course, will be referred to the following stages:

1. Confirmation of uniqueness of a title. Is subject to preparation by the Economic Chamber of Austria.
2. Notary certification of incorporation documents.
3. Depository certification of the authorized capital amount.
4. Publication of the notice on establishment of a company in the official edition, as well as mark in the court according to legal address.
5. Mark:
   • in the fiscal body,
   • in the trade register,
   • local government,
   • in subdivision of social security.

It is necessary know that business registration in Austria for the scope of individuals, non-residents of the European-union, may be set a requirement to process a preliminary permit to stay in the country, which may take half a year. In these cases it is easier to purchase a business in Austria in favor of an attorney, then making necessary amendments at the notary office.

Another option - investment in financial assets of the state. It will allow to obtain the permission for permanent residence in Austria, as well as its citizenship. Number of such merchants increases constantly.

Business, as well as its direct dealing in Austria, is a crucial moment, which requires qualified approach. Contact our specialists to get more detailed information about organization of own business in this country. We are  professionals.

Choose, please, an organizational and legal form of the company interesting you:

Austria-AG

Austria-GmbH

For reference use:

Gesellschaft mit beschrankter Haftung (GmbH) – the closed limited liability company;
Aktiengesellschaft (AG) – open joint stock company with limited liability;