Austria

General Information

Area – 83,855 sq. km

Population – 8,500,000 people

Capital – Vienna
Official language – German
Official currency – Euro (EUR)  

Key Aspects

For the application of treaties for the avoidance of double taxation, at least one company director must be a resident of Austria. A fixed place of business is required for all Austrian companies. A special licence is required to provide banking and insurance services.

Company Type

The most popular company type in Austria is a Limited Liability Company (Gmbh).

Registered Capital

The minimum share capital of an Austrian Gmbh is EUR 35,000 of which at least 50% must be paid up during incorporation of a company.

Solely par value registered shares are allowed to be issued.

Main Requirements for Company Directors and Shareholders

There should be at least one director in a company. Nominee directors are allowed to be used. Directors may be residents of any country. There should be at least one shareholder in a company. Nominee shareholders are allowed to be used. Shareholders may be residents of any country.

Accounting

Accounting records are to be maintained on a monthly basis.

Annual accounts are to be filed once a year.

Taxation

Value added tax – 20%

Corporate tax – 25%

Questions that need to be answered to prepare incorporation documents:

∙     Passport details of the founders

∙     Passport details of the directors

∙     Photocopy of the ID pages of the founders’ and directors’ international passports

∙     Types of the firm’s activity

∙     Utility Bill of the directors and founders, current email addresses and phone numbers

∙     Several proposed firm names