Company Formation in Austria
Our experts in Austria will advise you on company formation with an optimum solution.
Advantages for the company formation in Austria
1.) The political and social stability
2.) Perspective labour market
It does not matter, whether in the field of travel movement, craft or industry: the qualified working labour from abroad and preferably from Germany is welcomed in the Alpine republic, and often also the job can be obtained, which used to be prohibited for some unemployed in the mother country for a long time.
3.) favourable taxation
Low business taxation, moderate income tax, waiver in trading tax and wealth tax, and very sound taxation model for private foundations attracted a great international interest. With the rate of income tax for the legal entities amounting 25 per cent, the Austria holds the leading position when compared with the new EU member states.
The successful establishment in the Alpine republic requires the sound know-how, which is based not only on common knowledge...
Österreich ist auf dem besten Wege, ein wirklich konkurrenzfähiger Wirtschaftsstandort zu werden.
Anfang 2010 werden die Firmengründungen in Österreich billiger, die GmbH - Light kommt nun auch in Österreich...
Österreich wird den Ruf als Steueroase nie wirklich los, doch SLC-Europe meint, dass das Bankgeheimnis langfristig nicht zu halten ist.
„Unternehmensgründer wollen ihre Geschäftsideen sofort umsetzen. Entscheiden sie sich für eine GmbH, soll diese sofort nach Errichtung des Gesellschaftsvertrages legal tätig werden können, ohne auf die Eintragung im Firmenbuch warten zu müssen“, erklärt Notariatskammerpräsident Woschnak. „Die Notare schließen sich der Meinung von Wirtschaftskammerpräsident Leitl an, dass die GmbH reformiert gehört. Der Vorschlag der Notare ist die ,GmbH sofort´. Dieses Modell wurde bereits dem Justizministerium und dem Wirtschaftsministerium vorgelegt“, so Woschnak weiter.
What forms of companies occur in Austria?
The Limited Company (GmbH/Ltd.)
GmbH/Ltd. is the legal entity with own legal subjectivity, i.e. it can assume rights, accept the obligations, as well as sue and be sued. To form the GmbH/Ltd., the Memorandum of Association is required (the registration by a notary). GmbH/Ltd. can be founded also by one person, which declares the company formation. GmbH/Ltd. is established as a legal subject by Certificate of corporation. The minimum basic capital of GmbH/Ltd. represents EUR 35,000 and consists of the partners’ investments. The partners do not answer above the value of the deposit into the company.
The highest body of GmbH/Ltd. is the General Meeting of partners. The partners express their requirements at the meeting. GmbH/Ltd. is managed and represented by the executive manager, who is ordered by the General Meeting.
GmbH/Ltd. can be formed practically in each branches and represents the most frequent form of the company in Austria.
Joint-Stock Company (AG/Inc.)
Likewise the GmbH/Ltd. also the AG/Inc. is the legal entity with own legal subjectivity. The articles of association must be stipulated at the formation of the AG/Inc. (certificated by a notary). AG/Inc. is formed, similarly as the GmbH/Ltd., by its certificate of incorporation (Business Register). The basic capital of AG/Inc. should be minimum of EUR 70,000 and is created by subscription of shares by partners (stock-holders). It follows, that the stock-holders do not guarantee for the obligations of AG/Inc.
The necessary bodies of AG/Inc.: the board of directors, the supervisory board and the general meeting. The stock-holders express their requirements at the general meeting, which also votes the supervisory board members. The company management and its representation is done by the board of directors, the members of which are nominated by the supervisory board.
Public Company (OG/PC)
OG/PC can acquire rights and enter the obligations, sue and be sued. The formation of OG/PC. is performed by memorandum of association. As the law does not specify any exact form for the memorandum of association; however the written form thereof is necessary. OG/PC shall be recorded in the Business Register; it is established only after being registered in the Business Register. In contrast to the capital companies (GmbH/Ltd., AG/Inc.) none basic capital is required; so no funds are required to be provided. The partners answer personally, without limit and collectively for the company obligations. This liability must not be limited against creditors.
Basically, each partner is entitled to manage the company and can also act on behalf of the company alone.
OG/PC can serve for any allowed purposes including the free lance jobs and the agricultural and the forest activities.
Limited Partnership (KG/LP)
Generally the structure of limited partnership is the same as of OG/PC. The KG/LP includes besides the partners with unlimited liability (general partners) also the partners with limited liability (limited partners). Their liability is limited up to the amount of their investment. In principle, the limited partners are not authorized to manage the company or act on behalf thereof.
KG/LP can serve for any allowed purposes including the free lance jobs and the agricultural and the forest activities.
Source: Commercial Chamber of Austria
Company Formation in Austria
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