Austria, the home of Red Bull, is one of the most developed European countries. The
country, known for Red Bull and its main castles, has become one of the most
influential finance and corporate centers in Europe. Austria has a population of 8
million people and a GDP of more than $469 billion. This makes it the 26th largest
economy in the world. Like Switzerland, Austria is also known for its neutrality on
global issues.
Why Register a Company in Austria?
Investing or registering a company in Austria comes with several benefits. Some ofthese benefits are listed below:
- Member of the European Union – Austria became a member in 1995. This
- makes it a member of the most powerful union in the world.
- Powerful neighbors – Austria neighbors Germany and the Netherlands, which
- are some of the most powerful EU members.
- High standards of life – Austria has one of the highest standards of life in the
- world. This makes it have a good market for financial companies.
- Developed infrastructure – Like most EU members, Austria has some of the
- best road, rail, and air infrastructure in the world.
- Government support – The Austrian government has put in place important
- support mechanisms for local and international businesses. It is ranked at number 27 on the World Bank’s ease of doing business.
Business Entities in Austria
As with all countries, there are a number of business entities you can register your
business in in Austria. These are:
- Sole proprietorship – This is the simplest form of business that is common for small traders.
- Limited Liability Company – An LLC is a company that transfers liability from the founder to the company. It can be public or private and can have at least one shareholder.
- Partnership – This is a company formed by a group of people. A partnership can be general, limited, dormant, and civil law partnership.
- Subsidiary or branch – These are global companies that want to establish their businesses in the country.
Registering a Company in Austria
Registering a company in Austria is relatively easy. The following process is used to
register a company in Austria:
1. Business name – You should select a unique business name. This can be in English, German, or Dutch.
2. Submit documents – After registering a business name, you need to submit
documents. The documents that are needed are: memorandum of
association, birth certificate or certificate of citizenship, residence permit,
residence registration, proof of academic degrees, certificate from and
economic chamber.
3. Tax registration – After you submit documents to authorities, register the
business for tax purposes.
What is the Corporate Tax Rate in Austria?
Austria charges one of the biggest corporate tax rates in Europe. It has a corporate
tax rate of 25%. Consumers also pay a Value Added Tax (VAT) of 20%. Austria has
tax treaties with more than 80 countries.
FAQs on Austria Company Registration
How long does it take to register a company in Austria?
This depends on the type and size of the company. Sole proprietorships take less
than a week. For large companies, it takes less than 4 months to register the
company.
Do I need a lawyer to register a company in Austria?
A lawyer is not necessary when registering a company in Austria. However, it is
recommended that you invest in a good lawyer and business registration consultant
in Austria.
What is the minimum share capital for a company in Austria?
Sole proprietorship do not require a minimum share capital. However, other large
companies require a minimum share capital of between €35,000 and €70,000.
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