How To Start a Business or Company In Austria

How To Start a Business or Company In Austria

Step 1. Take the confirmation of the Economic Chamber that the start-up business is actually a brand new business

The Formula (Neuf 1, or NeuF 3), which can be downloaded electronically from the web page from the Austrian Ministry of Finance must be completed and approved through the Economic Chamber. The Neuf is required for the incorporation of companies as well as the transfer of business.

Second step 2: Notarize the statutes/articles of incorporation or declarations of the establishment

The articles of association (Gesellschaftsvertrag), which must be executed before a notary by notary deed (Notariatsakt), must include the following: name, seat, scope of activities, capital and initial contribution by each shareholder.

Step 3. 3: The minimum capital requirement must be deposited at the bank

The fee for confirmation varies according to the bank, and can range between EUR 0.01 to EUR 30.

4. 4. Register a company or company with the court in your area (Handelsgericht) and make an announcement about the formation within the Wiener Zeitung

The application to register the name of an Austrian LLC (Gesellschaft with beschrnkter Liability, GmbH) must be with certain documents such as a a declaration of the establishment, notarized and articles association; a confirmation (accompanied by banker’s signature) that the requested amount of the primary deposit, which is that is to be paid cash is paid; proof that the disposal rights of the principal deposit that was paid by the managing directors isn’t limited by counterclaims; signatures from the managing directors and confirmation by authority for taxation that the tax on capital transactions on creation was paid or is assured.

5. : Tax Office registration (obtain an VAT number)

The commercial register will automatically notify tax authorities about the registration of newly formed companies. Tax authorities typically respond by asking that the company submit a tax registration application.

Step 6 : Register trade (Gewerbeanmeldung) with the trade authority (Bezirksverwaltungsbehrde)

If the permit is mandatory the process of completing it takes longer, based on the conditions and authorities concerned (e. For instance. production of dangerous goods requires the proof of special competence of the management, and approval and supervision of the site where the product is produced). Businesses can register in person, through postal mail, or via the Internet.

Step 7 : Register employees for social security

Upon registering in the commercial register, companies with employees must apply for an employer’s account number (Dienstgeberkontonummer) electronically via ELDA, the data transmission interface of the statutory health insurance office (Gebietskrankenkasse).

8. Step Sign up with the municipality

Municipalities collect community taxes on every business. Furthermore, certain events (e.g. holding a public gathering) could cause municipal stamp duty or other taxes and duties of a minor nature (e.g. advertising charges “Werbeabgaben”).

Documents that are required Business or Company

  • Articles of Association (in the case of a one-man foundation the declaration of how the business was founded)
  • Notarized shareholder resolution of the appointment of managing directors (shareholders can be appointed managing directors in the constitution of the association but only for the period of their shares)
  • Signature notarized on behalf of the company’s managing directors and any other Prokuristen (persons who hold a specific legal power for commercial transactions)
  • In the event that they are required by law, there are corresponding government authorizations (banking license )
  • The declaration of the calculation and the payment of company tax
  • A confirmation from the Austrian lender that contributions to the bank have already been paid accordance with the cash amount that was agreed upon, and their discretion by the directors in charge, and are not influenced by counterclaims.
  • Statement of the managing directors regarding the payment of initial contributions
  • Expert opinions of the regional Economic Chamber on the admissibility of the words used in the name of the business (this must be done in the case that certain elements of the company name)
  • Resolution of shareholders in notarized form concerning elections of supervisory board as well as Resolution of the supervisory board on the election of the chairman and chairperson (only be necessary if a supervisory body is created by law or, if desired,).

Office Locations and Contacts

Federal Agent for Development of Industrial and Commercial Activities and Agency for Economic Growth
A-1010 Vienna, Opernring 3
Tel: +43 (0)1 588 58 – 0
Fax: +43 (0)1 586 86 59
http://www.aba.gv.at

Economic Chamber of Austria
A-1040 Vienna, Wiedner Hauptstrae 63
Tel: +43 (0)1 501 05 – 0
Fax: +43 (0)1 501 05 250
http://portal.wko.at

Federal Chancellery
A-1010 Vienna, Ballhausplatz 2
Tel: +43 (0)1 531 15 – 0
Fax: +43 (0)1 531 15 – 4390
http://www.bka.gv.at

Federal Ministry for Economic Affairs and Labor
A-1010 Vienna, Stubenring 1
Tel: +43 (0)1 711 00 – 0
Fax: +43 (0)1 714 27 18
http://www.bmwa.gv.at

Federal Ministry for Foreign Affairs
A-1010 Vienna, Ballhausplatz 2
Tel: +43 (0)1 531 15 – 0
Fax: +43 (0)1 535 45 30
http://www.bmaa.gv.at

Federal Ministry for Social Security,
Generations as well as Consumer Protection
A-1010 Vienna, Stubenring 1
Tel: +43 (0)1 711 00 – 0
Fax: +43 (0)1 715 82 58
HTT

What Are All The Eligibility

Austrian law on company provides various types of businesses specifically tailored to their requirements of tax and liability. There are generally corporate legal forms and non-corporate legal ones.

Corporations

  • Limited liability company (GmbH)
  • Corporation for Stock (AG)
  • Societas Europea (SE)

Non-corporate forms

  • General Partnership (OG)
  • Limited partnership (KG)
  • Dormant partnership (stG)
  • The civil law partnership (GesbR)

Documents to Utilize

Registration for businesses is now provided as a single-point process offered through the Business Start-Up Service of the Austrian Federal Economic Chamber. In many cases , this permits entrepreneurs to register their business within a matter of minutes after the initial consultation, provided they have all the documentation required.

Electronic processing of business affairs Online government service (Deutsch)

Setting up a business online Sole proprietor business (Deutsch)

How To Start a Business or Company In Austria
How To Start a Business or Company In Austria

Starting an Austrian Business Austria

Start-up company in Austria

Instructions

Austrian law on company provides different kinds of companies specifically tailored to their requirements in liability and tax. In essence, there are corporate and non-corporate legal documents.

Corporations

  • Limited liability company (GmbH)
  • Corporation for Stock (AG)
  • Societas Europea (SE)

Non-corporate forms

  • General Partnership (OG)
  • Limited partnership (KG)
  • Dormant partnership (stG)
  • The civil law partnership (GesbR)

Requirements Information

  • Company name
  • Legal form
  • Registered office and business address that is relevant to deliveries
  • A brief description of the field 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 for the chairman deputies and the other members of the supervisory board (if necessary or optional)
  • The share capital as well as the resolutions in this regard
  • Day of the balance sheet for annual accounts
  • The details of a business licence that has been granted

The document is needed

In the Trade Act of 1994, the term “business” refers to any independent continuous business that is carried out with the intention of earning money. The only exceptions to this definition are the extraction for natural resources creative professions and different business-related professions that are governed by specific laws (e.g. banking).

Anyone Austrian resident or foreign citizen is able to start a business in Austria. As mentioned above that a business is operated according to the sole proprietor’s personal responsibility (i.e. with no additional shareholders or partners) is known as sole proprietorship.

In addition, there is the option of creating the company or partnership which the business is managed. To form a partnership entity or Personengesellschaft, at least two partners are required. In contrast, one person is enough to create an entity that is incorporated (or Kapitalgesellschaft (GmbH, AG).

Establishing a company of one’s own is a great option for those who would like to own their own business and are willing to put in a greater effort than the average. Businesses that are new give a significant boost in the Austrian economy, they create jobs and serve as a key driver of growth. Austria is in need of the innovative and innovative entrepreneurs who put their capabilities and skills to creating their own brands while also generate growth, employment and structural impacts. The BMWFW is very interested in making sure that the right conditions are in place for entrepreneurs who want to start their own business and provide them with assistance, particularly during difficult economic times. The Ministrys Business Start-up Services assists those who are beginning towards becoming self-employed.

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