How To Register a Business or Company In Austria
To be able to legally form an organization or business you must register it in the Commercial Register or Firmenbuch. The director or managing director(s) must submit the company or the business to the relevant regional or commercial court. The Austrian Firmenbuch is similar in a way to German Handelsregister. The notification requires the notarized signatures those who are managing the company or company. Management director(s) should also supply notarized sig-natures of the court. Additionally the managing directors need to provide a statement confirming that cash contributions as well as any contributions in kind are open to them to be used without limitation. In addition, they are required to send a proof of the bank of the company that all cash contributions to the company have been paid.
When Prokuristen (authorized signatories) are appointed, their signed signatures are also required to be submitted to the Commercial Register court, together with a notarial attestation.
When a supervisory body is formed in the initial phase of formation (which is, in general is not required) all members on the board as well as the identity that of chairman and his deputy have to be disclosed in the Commercial Register.
It is not required to present proof in the Commercial Register court of the receiving of a trade license. If, however, the business or company is involved in banking and requires permission prior to time from the Austrian Financial Market Authority (FMA) and submit this permission to the tribunal where it is located. Commercial Register is located. The same is true when the establishment of the company or business is also a merger for the purpose of competition law and, in this instance the non-objection notification issued from the relevant competition authority is required to be filed.
The application for registration of for a company or business has to be accompanied by these documents such as a declaration of establishment that has been notarized or endorsed by the articles of association. a statement (accompanied with a banker’s signature) that the requested amount of the primary deposit, which is that is to be made in cash has been paid; proof that the freedom of disposal of the primary deposit paid by the managing director is not limited by counterclaims; documents signed by the directors and confirmation by officials of the tax authority that capital transaction taxes that was imposed on the company’s formation has been paid or secured. If the court is unsure regarding the name of the company or the name of the company, it could seek for an assessment of the Chamber of Commerce. A GmbH becomes legal existence when it is registered with the registry of commercial companies.
The following company details are in addition to being listed and published on the registry of commercial companies: the corporate name the registered office and address as well as the name and date of birth of the company’s shareholders and representatives, nominal capital.
The fee for application (court fee) is EUR 30. Individual service charges based on the details to be registered – are applicable, e.g. the registration for a director’s management is up at EUR 27. Legal and public notaries are required to submit every petition and related documents, deeds , etc. in electronic format. The fee for non-electronic or physical applications is increased by EUR 46. Be aware that court fees are not applicable in the event that the requirements for initial governmental assistance (see procedure 1) are fulfilled.
The registration of businesses is now available as a single-stop service through the Business Start-Up Service of the Austrian Federal Economic Chamber. In many instances, this allows the business’s founders to register their companies right after the initial consultation, if they possess all the documentation required.
Documents that are required Register a Business or Company
- Articles of Association (in the case of a one-man foundation the declaration of founding the firm)
- Notarized shareholder resolution of the appointment of managing directors (shareholders could be appointed managing directors in the constitution, however, only for the period of their shares)
- A notarized signature for the company’s managing directors and any other Prokuristen (persons with a particular legal power for commercial transactions)
- To the extent permitted by law, the corresponding governmental approbations (banking license )
- Statement of the calculation and the payment of tax for the company
- A confirmation from the Austrian lender that contributions to the bank have already been made the amount agreed in cash, and are at the disposal by the directors in charge, and are not influenced by counterclaims.
- The managing directors’ declaration on the payment of initial contributions
- Expert opinion from the regional Economic Chamber on the admissibility of the language used for the name of the business (this will be required in the event that certain elements of the company name)
- Resolution of shareholders in notarized form concerning voting on the supervisory board as well as Resolution of the supervisory body regarding the selection of a chairman and vice chairman (only be necessary if a supervisory body is created by law, or, if desired,).
Office Locations and Contacts
Federal Ministry of Economic Affairs and Labor A-1010 Vienna, Stubenring 1
Tel: +43 (0)1 711 00 – 0
Fax: +43 (0)1 714 27 18
Federal Ministry for Justice
A-1070 Vienna, Museumstrae 7
Tel: +43 (0)1 521 52 – 0
Fax: +43 (0)1 521 52 2727
Federal Ministry for Foreign Affairs
A-1010 Vienna, Ballhausplatz 2
Tel: +43 (0)1 531 15 – 0
Fax: +43 (0)1 535 45 30
Economic Chamber of Austria
A-1040 Vienna, Wiedner Hauptstrae 63
Tel: +43 (0)1 501 05 – 0
Fax: +43 (0)1 501 05 250
Austrian Business Agency
Federal Agency for Industrial Development and Commercial Advertising
A-1010 Vienna, Opernring 3
Tel: +43 (0)1 588 58 – 0
Fax: +43 (0)1 586 86 59
What Are All The Eligibility
A business can be created by a sole-proprietorship, or as a corporation.
In sole proprietorships, the proprietor takes the whole capital out of the business himself or herself. He or she runs the company by himself or herself and is responsible for the whole risk. This person is accountable through his or her personal assets for the payment of any debts of the business. A sole proprietorship is typically formed when the business is established; it doesn’t need to be registered. A sole proprietor that holds the trade license has to be insured by SVA. Social Insurance Institution for Trade and Industry (SVA).
If two or more people are partnered to establish an enterprise, it is classified as a corporation. There are a variety of types of companies feasible, based upon the scale of company as well as the qualifications and intentions of the shareholders or partners regarding trade law and the degree of capital participation and the assumption of risk, the contribution to management of the business, etc.
EUR 30 fee to register private limited corporations + the publication cost of EUR 40 for the first five lines, and EUR six for every additional line (assuming 35 lines)
Documents to Utilize
The registration process can take about 7 days
- The business or firm has to be registered at the appropriate authorities for business (district authority or magistrate).
- The company must be registered on the Commercial Register.
- The business activities that are conducted must be recorded with tax authorities. In addition, an application for tax ID numbers must be filed (within the first 4 weeks).
The Information You Need
- Company name
- Legal form
- The registered office as well as the address of business that is relevant to deliveries
- A brief description of the area of business
- The day of the conclusion Articles of Association (in the case of Einmann-GmbHs [one-man GmbH of the foundation declaration)
- Name and birth date of their managing director, as along with the date and time of commencement of their representation power
- Name and birth date of chairman deputies and the other members of the supervisory board (if not required or if they choose to)
- The amount of share capital and resolutions in this regard
- Balance sheet day is the day that accounts for annual accounts
- Information about a business license that has been granted
Documentation is needed
If a business is formed with the legal name as an OG (general partnership) or KG (limited partnership) the partnership agreement as well as an application for entry in the company register are required in addition (extract from the register of companies required for registration of trade).
If a business is formed with the legal name that is a Ges.m.b.H. (limited to liability corporation) the shareholder resolution approving how to appoint the management director(s) as well as the authority to represent and an official confirmation from the bank of the deposit of nominal capital to the company’s account are also required.
If the formation of a cooperative it is necessary to have a agreements of the cooperative (articles of association) is ratified at the initial meeting, and a management board is appointed (if needed and a supervisory board is appointed also). After the business has been legally registered the application for entry into the register of companies must be submitted (extract from the register of companies required for registration of trade).