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Business in Austria. Events taking place on a regular basis. Advantages and disadvantages of doing business in Austria

A stable economic situation and government support make business attractive to investors. Foreign entrepreneurs choose this country to open a company also because in this case. But is the situation so successful in reality? What pitfalls stand in the way of a businessman in this country?

Industrial enterprises are built mainly near mineral deposits, the processing and extraction of which they are engaged in. Production in Austria is represented by mechanical engineering, textile enterprises, processing of raw materials and food production. Much attention is focused on innovation, development of new technologies and implementation information technology into production.

In this regard, opening an enterprise in Austria is possible in one of these areas. If your business is based on development software or technical equipment of enterprises, you are guaranteed government support and tax benefits. Foreign business mainly represented in the service sector, tourism and catering. Investors buy real estate in resort areas of Austria (and the whole country consists of resort towns), organize hotels, restaurants, entertainment centers, shops or beauty salons.

If you open new business, then the authorities exempt you from a number of government fees associated with the registration of a company, and from part of the taxes for a year from the date of registration of the company. The founder may be foreign citizen, but only an Austrian can be the manager of the enterprise.

First of all, you need to choose the form of ownership of the enterprise. The latter are similar to Russian ones: a private entrepreneur, a company with limited liability, open joint stock company, closed joint stock company, branch of a foreign company and a European company.

Watch the video: what are the taxes in Austria when purchasing real estate.

How to open a company in Austria

Every company in Austria pays taxes of up to 50% of income. At first glance, this is a lot. But in Russia, an entrepreneur pays more. Before registering a company, you must choose a form of ownership and find office space. Your legal address will be located here. It is necessary to conclude an agreement with the manager - a citizen of Austria. Next, the authorized capital is paid in the amount of 35,000 to 70,000 euros (depending on the form of ownership) and documents are submitted for registration of the organization.

The whole process takes about 2 weeks. After registering the company and signing the constituent documents in the presence of a notary, a package of documents is submitted for inclusion of the company in the Trade Register. Next comes registration with tax authority, this process will take 12 days. As already mentioned, for the first year the entrepreneur is exempt from paying taxes. All that remains is to register the company’s employees in the social security system and submit information about the company to the municipality.

Once the company is registered and registered for tax purposes, business activities can be carried out.

Main types of taxes in Austria:

  1. Corporate tax, which ranges from 5 to 25%, depending on the form of ownership.
  2. Dividend tax of 25%.
  3. The value added tax is the same for everyone and is 20%.
  4. Group taxation for groups of companies.

Immediately after registering a company, a foreign business owner can...

Ready business for a foreign investor

For those who do not want to open a new company: look for a manager, prepare documents and go through the authorities, there is an opportunity to buy ready business in Austria. Before this it is necessary to carry out marketing research, calculate the approximate profit from a particular type of business, evaluate the company’s capabilities and find out why it is being sold. Usually, purchasing a ready-made business does not guarantee a high, but stable income without any problems.

Austria is a country with a rich cultural and economic heritage. Here, along with high indicators of social well-being, the developed system taxation, which became a prerequisite for rapid growth economy. The state's concern for entrepreneurs, as the main sources of budget funding, sets this state apart from its closest neighbors. In this regard, everything larger number EU citizens are seeking to open a business in Austria.

Since there is a clear understanding of the importance of attracting fresh foreign investment, the Austrian leadership some time ago created a national agency to attract investors, the Austrian Business Agency. IN functional responsibilities This structure includes advising investors intending to found companies with Austrian origin. Membership in the EU and EEC stimulates the free movement of capital, which is confirmed by growing GDP compared to previous years. Opening a business in Austria has become incomparably easier and more profitable. And this is not a myth. In addition, to avoid repeated taxation, the state has entered into appropriate agreements with many neighbors.

Open a business in Austria: Forms and brief description

Depending on their goals and level of responsibility, the following companies are distinguished:

  1. Self employed.
    • There is no mandatory registration in the main register of enterprises. The founder is liable with all his property for the obligations of the company.
  2. Partnership.
    • Requires participation of at least 2 individuals or legal entities. No initial investment required. Taxed only at the level of its members.
  3. Full partnership.
    • Participants have equal rights. They are liable indefinitely for the obligations of the partner with their property.
  4. Limited partnership.
    • There is one main partner who is liable with all his property, while the others are limited to a previously agreed amount.
  5. Limited Liability Company.
    • The most common. Absolutely anyone can be a participant, including non-residents. There is no individual liability to creditors.
  6. Joint Stock Company.
    • It is used more often to create large enterprises. There must be at least four participants: the manager and representatives of the supervisory board.

Opening a business in Austria is also attractive because floating tax rates apply here. They vary from 10 to 25%, depending on the sales area: inside or outside. Often this fact attracts foreigners to buy business in Austria.

Registering a business in Austria: Procedure

Along with the simplicity and ease of management, registering a business in Austria is quite labor-intensive and time-consuming. The process will take up to 22 days and will necessarily involve the following 8 stages:

  1. Confirmation of the uniqueness of the name. Prepared by the Austrian Chamber of Economics.
  2. Notarization of constituent documents.
  3. Deposit verification of value authorized capital.
  4. Placing a notice of the establishment of a company in the official publication, as well as a mark in court at the place of legal address,
  5. Mark:
    • in the fiscal authority,
    • in the commercial register,
    • in local government,
    • in the social security department.

It is important to know that registering a business in Austria for a number of categories of persons who are not citizens of the countries of the European Commonwealth may require preliminary permission to stay in the country, which may take six months. In these cases, it is easier to buy a business in Austria in the name of a trustee, subsequently making the necessary changes with a notary.

Another option is to invest in the country's financial assets. This will allow you to obtain permission for permanent residence in Austria and citizenship. The number of such merchants is constantly growing.

Business, as well as running it directly in Austria, is a crucial moment that requires a qualified approach. Contact our specialists for more detailed information about organizing your business in this country. We are professionals.

Please select the legal form of company you are interested in:

For reference:

Gesellschaft mit beschrankter Haftung (GmbH) – closed society with limited liability;

Aktiengesellschaft (AG) is an open joint stock company with limited liability.

Special offers from the European holding of Denis Miller.

Consulting and provision regulatory documents in the field of tax, corporate and immigration law;

Obtaining a residence permit and Austrian citizenship;

Preparation of dossier and support of an Austrian lawyer in MA35;

Services of a Russian-speaking lawyer-translator.

Experienced specialists from the Austrian bureau of our company will provide a choice of proposals for the purchase of a ready-made business in Austria, commercial real estate, based on your criteria and budget, and will also register a company, provide an Austrian manager and everything necessary to conduct business.

Price: 10,000 euros.

Register a company in Austria

The Articles of Association - Gesellschaftsvertrag (for a company with one shareholder: Founding Declaration - Erklaerung ueber die Errichtung der Gesellschaft) is signed in the presence of a notary and must include the following information: name, location, authorized capital and initial contribution of each shareholder. The company then registers in the Trade Register (Firmenbuch) and publishes an advertisement in the official newspaper about its registration.

GmbH registration time: from the moment of notarization of signatures constituent documents before making an entry in the Trade Register - about 2 weeks.

Registration of a company in Austria - turnkey - 5,900 euros. Time frame: 2-3 weeks.

Real estate in Austria- optimal registration options for Russian citizens.

Types of companies

Companies are classified as small, medium or large.

Small companies must satisfy at least 2 of the following conditions: balance sheet no more than 2.7 million euros, annual income no more than 5.4 million euros, average annual number of employees no more than 50 people.

Medium companies- these are companies that exceed at least 2 of the above conditions and do not fall under the qualifying criteria of large companies.

Large companies must meet at least 2 of the following conditions: balance sheet over 11 million euros, annual income over 22 million euros, average annual number of employees - more than 250 people.

80% of foreign direct investment in Austria is carried out in the form of Gesellschaft mit beschraenkter Haftung (GmbH) - a limited liability company, 10% - in the form of Aktiengesellschaft (AG) - a joint stock company, the rest - using other organizational and legal forms.

Limited liability company - Gesellschaft mit beschraenkter Haftung (GmbH) and joint stock company - Aktiengesellschaft (AG). The name must end with the abbreviation GmbH or AG.
The authorized capital for GbmH is at least 35 thousand euros, for AG - 70 thousand euros. When registering, at least 50% of the authorized capital must be represented on the account.

The citizenship and/or place of residence of the founders does not play a role, however, to work in Austria, citizens of countries outside the European Economic Region (EEA) are required to obtain a residence permit and, often, a work permit. The registered office of the company must be in Austria. A representative of the company must also be located in Austria (if none of the directors is a resident of Austria).
There are no legal restrictions on the location of a meeting of directors.

Advantages of registering holding companies in Austria

  • An Austrian bank account can be opened in any currency, and the company's financial statements can be maintained in any currency. There are no exchange controls in Austria except when collecting information for statistical reports.
  • Traditionally, taxation of profits repatriated from abroad is regulated by the provisions of double tax treaties.
  • Tax benefit for Austrian holdings is called "Schachtelbegnistung"/International Affiliation Privilege (IAP) and provides that dividends received by an Austrian holding from abroad and capital gains are not subject to income tax if the following requirements are met:
  • The Austrian holding's share of ownership in the foreign company exceeds 25%.
  • The foreign corporation must have a status similar to the Austrian corporation

Incorporation

An Austrian holding is formed in the form of a limited liability company - Gesellschaft mit beschraenkter Haftung (GmbH) or, most often, a joint stock company - Aktiengesellschaft (AG). The name must end with the abbreviation GmbH or AG.

Incorporation procedure

  • Preparation of the Charter.
  • Notarization of company documents (local notary).
  • Entering documents of the companies that make up the holding into the Trade Register (Firmenbuch).
  • Opening an account in an Austrian bank.

The charter of corporations must be notarized. It must contain information about the face value, volume of issue and type of shares that are intended to be issued.

In case of a “one-stage” formation of a corporation, a subscription to the shares of all persons who took part in the signing and preparation of the charter is issued.

When a company is “sequentially” formed, a public subscription for shares is issued, but this is done much less frequently.

A joint stock corporation begins to exist from the moment of entry into the Trade Register (Firmenbuch).

To be included in the register, the following information must be provided

  • Corporation name.
  • Registered office address (must be in Austria).
  • The purpose of the company.
  • Amount of declared share capital.
  • Date of signing of the Charter.
  • Names of board members.

Charter

When writing the charter, the following mandatory requirements must be met:

  • Indication of the name and registered address of the corporation.
  • Business goal.
  • Volume of share capital.
  • Types of shares and their face value.
  • Composition of the board and number of its members.
  • Form for publishing data on company operations.
  • Privileges of certain shareholders.
  • The total cost of payments to a company's shareholders and employees for services rendered during the company's incorporation. Any subsequent change to the Articles of Association requires a resolution of the shareholders' meeting, at which the decision must be made by a majority of 2/3 of the votes.

Name and registered address

The name of the corporation must indicate the company's occupation and contain the words "Joint Stock Company" (Aktiengesellschaft) or its abbreviation (AG). Registered address is the place where the main activities of the company take place or where its administration is located. The registered address must be in Austria.

Share capital

The minimum authorized capital must be:

  • for GbmH minimum - 35 thousand euros,
  • for AG - 70 thousand euros.

At registration, at least 50% of the authorized capital must be paid.

The share capital is divided into shares. The issue of profit distribution is decided at the annual meeting of shareholders, for which the board prepares proposals for distribution.

Board

The board consists of one or more members appointed by the company's supervisory board for a term of up to 5 years. The board represents the corporation in court and non-judicial proceedings.

Supervisory Board

Consists of at least three members, while maximum quantity members depends on the size of the authorized capital. Members of the supervisory board are appointed in accordance with the resolution of the shareholders meeting for a limited period of time.

Shareholders' meetings

The meeting of shareholders is convened by the board. There are no legal restrictions on the location of the annual general meeting of shareholders.

Resolution of the following issues requires approval by the meeting of shareholders

  • Appointment of members of the supervisory board.
  • Amendments to the Charter.
  • Filing complaints against members of the board or supervisory board.
  • Approval of annual financial statements if the management and council bring this issue to a meeting of shareholders or if the supervisory board refuses to approve the report prepared by the board.

Profit distribution

Typically, decisions at a shareholders meeting are made by a simple majority of votes. A foreigner has the right to found an enterprise of any form of ownership in Austria (this means that here you can open a company without any authorized capital at all). In order to stimulate the creation of new companies on the Austrian economic market, new additions to the law on licenses for entrepreneurial activity, making it easier to open your own enterprises.

In order for a company in Austria to have the right to carry out its own activities, it must have not only its own manager, but also a so-called license manager (Gewerberechtlicher Geschaeftsfuehrer), whose responsibilities include monitoring and compliance with the rules for carrying out the activities specified in the license, and who is responsible full responsibility for this before the relevant government agencies.

A newly arrived foreigner cannot hold this position in his own company, but there are exceptions. So, if you have a visa (Niederlassungsbewilligung) that you received for business purposes and your company has a type of activity that is classified as “free” (Freigewerbe), then you have the right to be a manager of your company under a license. In all other cases, a licensed manager must be registered to work in the company for at least 20 hours a week.

Those who are planning to open their own business in Austria can take advantage of the recently adopted law to support new companies. This law exempts young entrepreneurs from numerous government fees associated with registering a company, including in the commercial court, from paying a company tax in the amount of 1% of the amount of paid authorized capital when registering limited liability companies (GmbH) or joint stock companies ( AG), from paying state taxes accompanying the payment of salaries in the amount of only 6.88% within 12 calendar months from the date of opening the company.

But in order to take advantage of such benefits, certain conditions must be met, for example, a new business must be created in Austria, and not a simple transfer of an existing company to other hands, and the head of the new company should not have been engaged in entrepreneurial activity over the past 15 years.

Registering a company in Austria or buying your business is easy, reliable and profitable with us.

"European Holding of Denis Miller" has been successfully providing legal services in the territory of the Austrian Republic for 20 years.

Special offers

According to statistics, the most popular form of business in Austria is a limited liability company – Gesellschaft mit beschraenkter Haftung, or GmbH for short. What are the requirements for companies? of this type and how such enterprises are registered in Austria.

Requirements for the founders, name, authorized capital of the company

Companies of this type have many advantages. As in Russia, GmbH shareholders bear limited liability for possible losses of the company within the limits of their own shares and are not liable for the obligations of the company. At the same time, less stringent requirements are put forward for the GmbH than for another form of business in Austria - joint stock company(Aktiengesellschaft).

In a limited liability company, both one and several shareholders can participate, and both a private and legal entity. Neither citizenship nor permanent residence in Austria is required for shareholders. The name of the company must contain an indication of its legal form (that is, include the designation GmbH after the name itself).

Most species commercial activities licensed in Austria. Therefore, the company's staff must include a so-called license manager (Gewerberechtlicher Geschaeftsfuehrer), whose responsibilities include monitoring the compliance of the company's activities with the license under which it operates.

Nominal authorized capital of the company with foreign participation upon registration must be at least €35,000, and each participant must contribute at least €7,000 in cash, to an Austrian bank account or in kind. As general rule– Half of the total amount or more must be paid in cash.

In 2014, the Austrian authorities provided foreign investors creating a GmbH with the opportunity to obtain a “privilege” (gründungsprivilegierte). In this case, the authorized capital at the time of registration of the company may be €10,000, of which at least €5,000 must be contributed immediately (contribution in kind is not possible).

The “privilege” is given for 10 years, during which another €5,000 must be paid, and subsequently the balance up to the full amount of the nominal share capital (€17,500). Otherwise, the registration of the company in the trade register will be cancelled.

Company income is taxed at 25%. If during the fiscal year the company does not make a profit or suffers losses, it is necessary to pay a minimum corporate tax of 5% of the authorized capital.

Drawing up and registration of the GmbH Charter

The founding document of a GmbH is the Articles of Association (Gesellschaftsvertrag), if several shareholders are involved in the creation of the company, or the founding declaration Erklaerung ueber die Errichtung der Gesellschaft) if the company has one shareholder. The charter is established by the shareholders in the presence of a notary. It is possible for the Charter to be signed by a representative of the shareholder using a notarized power of attorney with an apostille.

The articles of association of a GmbH usually contain the following information:

  1. Name and address of the company's registered office.
  2. The purpose of the company's activities.
  3. The size of the company's authorized capital.
  4. The size and nominal value of each shareholder's share.

Terms and cost of GmbH registration

The procedure for registering a business in Austria takes place in several stages:

Procedure

Price

Note

Obtaining a certificate from the Austrian Federal Chamber of Economics stating that the registered company is indeed a new enterprise

For free

The application is submitted electronically. This step is optional, but allows you to avoid unnecessary payments in the future.

Certification of constituent documents by a notary

The cost of the service depends on the authorized capital and is usually determined by agreement with the notary.

Placing the authorized capital in the required amount on a bank account

For free

Registration of the company in the local court (Handelsgericht) for subsequent entry into the commercial register

A complete set of documents is provided to the court: Charter, bank confirmation, sample signatures of members of the board of directors, certificate of payment of capital transfer tax.

Registration with the tax authority (obtaining a VAT number)

For free

Completed forms are sent by mail along with the Articles of Association, opening balance and other documents.

Registration of a company (Gewerbeanmeldung) with the county administrative office (Bezirksverwaltungsbehörde)

Less than 1 day

For free

Less than 1 day

For free

Registration is carried out through a special electronic system.

Registration of an enterprise in the municipality

For free
*Occurs simultaneously with the previous stages.

Things to remember

Limited Liability Company GmbH is one of the most convenient forms investment in the Austrian economy. It is completed in no more than a month and allows you to organize an enterprise independently or together with partners with a relatively small start-up capital (€35,000).

Opening up the company to foreign investors can be especially beneficial: the Austrian authorities have established additional privileges for them.

In the future, we will talk about other forms of doing business in Austria. Subscribe to blog updates!