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Company formation in Austria
Comprehensive assistance in company formation, including banking services
How to form a company in Austria
1
Document submission
You submit to us necessary documents of the future founders and directors for the purposes of company formation in Austria and opening a bank account in Austria
2
Payment of services
Payment of our services for company formation in Austria and/or bank account assistance in Austria
3
Company formation
We register a new company in Austria for you. Upon completion of the registraion corporate documents are either delivered to you or submitted to a bank for the subsequent opening of a bank account
4
Bank account opening
In case you request an assistance with a bank account, we arrange an interview at the bank for you, inform you about the date of the visit and accompany you on your way to the bank. After the bank account is opened and active you receive corporate documents of the formed company as well as the access to the bank account
Key aspects to consider prior to incorporating a company in Austria
Standard interest withholding tax rate is 0%.
1. Founders that would like to register a company in Austria can either be resident or non-resident in Austria. Founders can be either individuals or legal entities.
2. A resident or a non-resident individual can be a company director in Austria. It is not required to register a company in Austria with a resident individual as one of its shareholders or directors.
3. One individual can register a company in Austria and simultaneously be a shareholder and a director in this company if such company is registered as a GmbH (a limited liability company).
4. There is no requirement for creating substance in Austria - no need to hire local employees or rent an office in order to establish a company in Austria or to conduct business in Austria.
5. Minimum share capital that is required to register a company in Austria as a GmbH (a limited liability company) is EUR 35,000.
6. Information about company founders, shareholders and directors after company registration in Austria is complete is publicly available in the state corporate register.
7. We can help you register a company in Austria remotely, on the basis of a power of attorney. It is necessary for the director of the new company to travel to Vienna for 1 day in order to open a corporate bank account.
2. A resident or a non-resident individual can be a company director in Austria. It is not required to register a company in Austria with a resident individual as one of its shareholders or directors.
3. One individual can register a company in Austria and simultaneously be a shareholder and a director in this company if such company is registered as a GmbH (a limited liability company).
4. There is no requirement for creating substance in Austria - no need to hire local employees or rent an office in order to establish a company in Austria or to conduct business in Austria.
5. Minimum share capital that is required to register a company in Austria as a GmbH (a limited liability company) is EUR 35,000.
6. Information about company founders, shareholders and directors after company registration in Austria is complete is publicly available in the state corporate register.
7. We can help you register a company in Austria remotely, on the basis of a power of attorney. It is necessary for the director of the new company to travel to Vienna for 1 day in order to open a corporate bank account.
Cost of services
Formation of a GmbH
Timeframe - 17 business days
Timeframe - 17 business days
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Advantages of forming a company in Austria
Attractive business-environment
- 4th place in the EU at economic growth
- Huge logistics center for making shipments to Eastern Europe
- High purchasing power
- Well-developed infrastructure
- Low inflation rate
Stability and security
- Political stability
- Secure legal and justice system
- Comprehensive protection of property rights
- High standards of personal security
- Investment protection
Tax benefits
- Standard interest withholding tax rate is 0%
- Tax benefits for corporate group taxation
- Multiple double tax treaties
No foreign exchange controls
- Austria joined the Euro area, which allows it to secure free capital transfer in any currency. Individuals and business-entities, either resident or non-resident in Austria may open bank accounts in Austrian banks in any currency
Ease of establishing and doing business
- 100% foreign ownership of a company is available
- Remote company formation in Austria is available
More about Austria
Austria is located in Central Europe and borders Czech Republic, Germany, Hungary, Italy, Liechtenstein, Slovakia, Slovenia and Switzerland. Territory of Austria amounts to 84,000 square kilometers.
Austria has a population of around 9 million people. The majority of population lives in urban area.
Austria has a population of around 9 million people. The majority of population lives in urban area.
Official currency of Austria is euro (EUR).
GDP growth in Austria for the previous year was around 2%.
Austria is located at the center of Europe, which allows it to also be the center of European business that connects Western and Eastern Europe. On the global ease of doing business index Austria holds 27th place.
A highly-developed eceonomy of Austria is persistently thriving due to a highly-qualified workforce, a competitive industry and a big service sector. Key economy sectors in Austria are industrial and service sectors and also agriculture.
Austria is open for global trade and investments and guarantees to foreign investors comprehensive property protection, as well as a transparent and secure legal and justice systems. Austria is a Member State of the European Union and this imposes obligations to follow all the directives and regulations of the EU, as well as trade agreements, provisions concerning import and export operations. Austria is also a member of the Organistation for Economic Co-operation and Development (OECD), whose headquerters are located in Vienna.
GDP growth in Austria for the previous year was around 2%.
Austria is located at the center of Europe, which allows it to also be the center of European business that connects Western and Eastern Europe. On the global ease of doing business index Austria holds 27th place.
A highly-developed eceonomy of Austria is persistently thriving due to a highly-qualified workforce, a competitive industry and a big service sector. Key economy sectors in Austria are industrial and service sectors and also agriculture.
Austria is open for global trade and investments and guarantees to foreign investors comprehensive property protection, as well as a transparent and secure legal and justice systems. Austria is a Member State of the European Union and this imposes obligations to follow all the directives and regulations of the EU, as well as trade agreements, provisions concerning import and export operations. Austria is also a member of the Organistation for Economic Co-operation and Development (OECD), whose headquerters are located in Vienna.
International business establishes companies in Austria for the purposes of trading, logistics, in some cases foreign entrepreneurs establish travel business in Austria.
In Austria a big number of business-activities is subject to regulations of the Economic activity code 1994 (Gewerbeordnung).
Among such business-activities:
Moreover, in order to conduct these business-activities it is required to appoint 2 managing directors - the one acting on the basis of Austrian corporate law (Gewerberechtlicher) and the one acting on the basis of the Austrian trade law (Geschäftsführer). These managing directors have to be resident in the EU.
These two positions can be held by the same individual if they fit the requirements of the Austrian trade law. Managing director acting on the basis of trade law needs to ensure compliance of a business-entity with the licensing laws.
Restricted for foreign entrepreneurs are the following sectors:
In Austria a big number of business-activities is subject to regulations of the Economic activity code 1994 (Gewerbeordnung).
Among such business-activities:
- dental services
- orthopedic services
- pharmaceutical services
- business- and investment consulting
- hotel services
- real estate sale services
- HR-services
- insurance broker services etc.
Moreover, in order to conduct these business-activities it is required to appoint 2 managing directors - the one acting on the basis of Austrian corporate law (Gewerberechtlicher) and the one acting on the basis of the Austrian trade law (Geschäftsführer). These managing directors have to be resident in the EU.
These two positions can be held by the same individual if they fit the requirements of the Austrian trade law. Managing director acting on the basis of trade law needs to ensure compliance of a business-entity with the licensing laws.
Restricted for foreign entrepreneurs are the following sectors:
- energy sector
- banking and insurance (a special license from the Ministry of Finance is required)
- lottery and gambling
- radio- and telecommunication services
- postal services.
- Corporate income tax - 25%. Tax returns are filed on an annual basis. Advance income tax payments are made on a quarterly basis
- Dividend withholding tax - 25% or 27,5%
- Interest withholding tax - Standard tax rate 0%
- Royalties withholding tax - 20%
- Capital gains tax - 25%
- VAT - Standard tax rates 19% or 20% or reduced rates from 0% up to 13% or tax exempt. Tax returns are filed on a monthly, a quarterly or an annual basis
- Personal income tax - from 0% up to 55%.
Apart from such traditional business entity types as a limited liability company (Geselschaft mit beschränkter Haftung) and a public limited company (Aktiengesellschaft), Austrian corporate law offers to establish a business as:
1. Civil law company (Gesellschaft bürgerlichen Rechts)
2. General partnership (Offene Gesellschaft)
3. Limited partnership (Kommanditgesellschaft)
4. Silent partnership (Stille Gesellschaft)
5. Association (Verein)
6. Industrial and Provident Cooperative Society (Erwerbs- und Wirtschaftsgenossenschaft)
7. European company (Societas Europaea)
To receive a detailed description of the company formation procedure in Austria and information about documents necessary for company formation in Austria please contact our experts.
1. Civil law company (Gesellschaft bürgerlichen Rechts)
2. General partnership (Offene Gesellschaft)
3. Limited partnership (Kommanditgesellschaft)
4. Silent partnership (Stille Gesellschaft)
5. Association (Verein)
6. Industrial and Provident Cooperative Society (Erwerbs- und Wirtschaftsgenossenschaft)
7. European company (Societas Europaea)
To receive a detailed description of the company formation procedure in Austria and information about documents necessary for company formation in Austria please contact our experts.
Send a request for company formation in Austria
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London, EC1V 2NX
Phone: +44 20 8157 4037
Email: request@pil-services.com
