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Legislation of Austria

Service packages «Austria-GmbH» Service packages «Austria-AG» Legislation Tax System Audit Services

List of laws and regulations

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List of state regulatory authorities

Ministry of Finance
Ministry of Justice
Competition Authority
Financial Market Authority
Official Gazette Wiener Zeitung
Österreichische Nationalbank
Invest in Austria

Corporate info

Legal system
Civil Law
Types of entity
sole proprietorship; general partnership; limited partnership; limited liability company, gmbh; joint stock company, ag; european company, se; branch of foreign company; private foundation
Shelf companies permitted
Yes
Incorporation timescale for a new company
7 days
Company suffix
Gesellschaft mit beschrnkter Haftung" or GmbH
Sensitive words
Austria, Austrian
Cyrillic alphabet permitted in company name
No
Local registered office
Yes
Local registered agent
No
Information to be kept at the registered office
company records
Seal required, type of seal
not required
Redomiciliation (to, from) permitted
permitted

Director and secretary

Minimum number of directors
1
Residency requirements for directors
No
Corporate directors permitted
No
Directors’ meetings/frequency/location
No requirements
Disclosure to local agent
Yes
Disclosure to public
Yes
Company secretary required
No
Residency requirements for a secretary
No
Qualified secretary required
No
Corporate secretary permitted
No

Shareholder and beneficiary

Minimum number of shareholders
1
Residency requirements for shareholders
No
Corporate shareholder permitted
Yes
Meetings/frequency/location
Yes / annually / anywhere
Disclosure to local agent
Yes
Disclosure to public
Yes
Beneficiary info disclosure to
Yes

Shares and share capital

Minimum authorized share capital
10000
Minimum issued share capital
10000
Minimum paid share capital
5000
Authorized capital payment deadlines
Before registration
Issued capital payment deadlines
Before registration
Standard currency
Euro
Standard authorized share capital
10000
Standard par value of shares
1
Shares with no par value permitted
No
Bearer shares permitted
No

Taxes

Personal tax
25-55%
Min. rate for corporate tax
25%
Corporate tax (in detail)
The corporate tax rate in Austria is 25%. Even if the company does not receive income, there is a minimum tax of € 3.500 for joint-stock companies and € 1.750 for limited liability companies (for newly created - € 500 for the first five years and € 1,000 for the next five years). The minimum tax is credited against future income tax for an indefinite period.
Capital gains tax
Regular rate
Capital gains tax. Details
Capital gains are usually taxed as part of the gains at the standard rate of 25%.
VAT
20%
VAT. Details
The standard VAT rate is 20%. A reduced rate of 10% applies to foodstuffs, pharmaceuticals, agricultural products, rent, tourist services, public utilities (except electricity) and entertainment. Professional services (such as lawyers and architects) are subject to 20% VAT. Certain supplies are zero-rated and some are exempt.
Withholding tax
25%/0%/20%
Other taxes
real estate tax, transfer tax, social security contribution
Exchange control
No
Government fee
Stamp duty
Yes

Accounts

Requirement to prepare accounts
Yes
Requirement to file accounts
Yes
Publicly accessible accounts
Yes
Requirement to file Annual Return
Yes
Publicly accessible Annual Return
Yes
Audit required
No

General information shortly

Location
Central Europe
Total area
83.871 sq. km
Population
8.915.382 (2020)
Capital
Vienna
National currency
Euro
Conditional reduction of currency
EUR
Against USD
0.94
Climate, average max and min t°
Temperate; continental, cloudy; cold winters with frequent rain and some snow in lowlands and snow in mountains; moderate summers with occasional showers; avg. maximum temperature (July) +30°; avg. minimum temperature (January) 0°
Time difference from Moscow
- 1 hour
Dialing code
+43
State language
German
Ethnic groups
88.6% Austrians, 5.1% ex-Yugoslavs, 2.7% Federal Germans, 2.2% Turks, 1.4% other
Literacy rate
99% (2019)
History
The history of Austria covers the history of Austria and its predecessor states, from the farming communities of the early Stone Age to the present sovereign state. The name Ostarrîchi (Austria) has been in use since 996 CE when it was a margravate of the Duchy of Bavaria and from 1156 an independent duchy (later archduchy) of the Holy Roman Empire of the German Nation (Heiliges Römisches Reich 962–1806). During this time Austria was dominated by the House of Habsburg (Haus Österreich) from 1273 to 1806, when the old empire came to an end. Austria then emerged into the nineteenth century as the Austrian Empire, a part of the German Confederation until the Austro-Prussian War of 1866 excluded her, after which Austria continued as the Austro-Hungarian Empire (1867–1918) as a dual monarchy with Hungary. When this empire collapsed in 1918 after the end of World War I, Austria was reduced to the main German speaking areas of the empire corresponding to its current frontiers and adopted the name German Austria, since it wanted to join the new German Weimar Republic. This union was forbidden by the victorious Allies at the Treaty of Versailles. Following the First Republic (1918–1933) Austrofascism tried to keep Austria independent from the German Reich, but in 1938 it was annexed by Nazi Germany with the support of the majority of the Austrian people. After the Second World War Austria again became an independent republic as the Second Republic in 1955 and joined the European Union in 1995.
Credit rating
AA+
Government type
federal republic
Executive branch
Federal government headed by the Federal Chancellor
Legislative branch
bicameral Parliament composed of Nationalrat (183 seats) and Bundesrat (62 seats)
Judicial branch
district courts; land courts; four courts of appeal; supreme court
Unemployment
5.8% (2020)
GDP per capita rank
13 (2018)
Corruption perceptions index rank
16 (2017)

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