Prikhodko&Partners
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International corporate law
Business Setup and Support in Austria Company Registration in Austria

Taras Miroshnychenko

Head of International Corporate Law and Fintech Practice

E-mail

miroshnychenko@prikhodko.com.ua

Phone numbers

Expert in fintech, crypto, and international corporate law with over 20 years of experience. Specializes in crypto licensing (VASP/CASP), iGaming business support, and international structuring, asset protection, and OSINT analytics for risk assessment and due diligence.

Company Registration in Austria

Advantages of opening a company in Austria

Favorable tax regulation
Qualified employees
Access to the European market
Goverment subsidies and grants for business development
Favorable conditions for buying real estate

What forms of business are available in Austria?

Sole proprietorship

A sole proprietorship (Einzelunternehmen; EPU) is an individual who manages a company in his own name and at his own expense. In Austria, an individual entrepreneur is the most popular way of running a company.

Each sole proprietor has unlimited liability for all business and personal assets.
A residence permit in Austria is required for doing business in Austria.
A trade license is required for individual entrepreneurs who wish to engage in trade.
Registration in the Austrian Commercial Register (Firmenbuch) is mandatory only for private entrepreneurs whose financial turnover exceeds EUR 1 million per year or EUR 700,000 for two consecutive years. Voluntary registration in the Firmenbuch is possible.
An individual entrepreneur pays income tax in the amount of 20%.
An individual entrepreneur has the right to hire employees.

Limited liability company (Gesellschaft mit beschränkter Haftung, GmbH)

Can be founded by one or several persons. The maximum number of participants is unlimited.
There is no personal liability of the shareholders.
The minimum amount of share capital is EUR 35,000. Contributions in kind are possible.
Two-level taxation system: first, corporate tax is paid on the company’s income, then dividends distributed among shareholders are taxed.
The management of the company is carried out by the board. The creation of a supervisory board is mandatory only for companies with a share capital of more than 70,000 euros and more than 50 shareholders.
At least 1 member of the board and at least 3 members of the supervisory board, if one is created.
The company is registered through the local court. The following documents are submitted for registration:
application for registration;
notarized article of incorporation;
a certificate from a local bank confirming the payment of the share capital.

Joint stock company (Aktiengesellschaft, AG)

Can be founded by one or several persons. The maximum number of shareholders is unlimited.
There is no personal liability of the shareholders.
The minimum amount of share capital is 70,000 euros. The nominal value of shares is not less than 1 euro.
Two-level management system: current activities are carried out by the board, the supervisory board monitors the board’s activities and gives consent to certain actions.
At least 1 member of the board and at least 3 members of the supervisory board are required.
The company is registered through the local court. The following documents are submitted for registration:
application for registration;
notarized charter;
notarized document on the appointment of the board and the supervisory board;
written confirmation of the founders that the joint-stock company was established properly;
a certificate from a local bank confirming the payment of the authorized capital.

General partnership (Offene Gesellschaft, OG)

A business entity that carries out trading activities, whose partners bear full responsibility for its debts with all their property.
All partners are managers of the partnership. Individuals and legal entities who are not partners shall not participate in the management of the partnership.
Single-level taxation system: only the partners’ corporate income is taxed.

Limited partnership (Kommanditgesellschaft, KG)

A commercial entity has 1 or more general partners who have unlimited joint and several liability for all partnership debts, and 1 or more limited partners who limit their liability for debts to a certain amount that they pay sub enterprise.
Persons whose liability is limited are excluded from managing a limited liability company.
External managers (persons who are not general partners) cannot be appointed.
Single-level taxation system: only the partners’ corporate income is taxed.

To register a company in Austria, the following steps must be taken:

Trading name reservation is the first step to be completed;
Ensuring the company has a legal address is also mandatory;
Drafting the Articles of Association having them notarized;
Filing the paperwork with the local office of the Trade Register;
Obtaining tax and VAT numbers with the local tax office;
Filing for the necessary business permits and licenses, where applicable.

What criteria must a person meet to open a business in Austria?

The person must be at least 18 years old
Money to pay the authorized capital
Compliance with the laws of Austria
Confirmation of the qualification of the entrepreneur (diploma on education, experience in this field).
Residence permit in Austria.