Business
Austria — Business: Company Formation
Company formation in Austria involves several steps and requires specific documentation. The process can be complex, and it's recommended to consult with a lawyer or business consultant to ensure compliance with Austrian regulations.
Key facts
- Austrian companies can be formed as GmbH (limited liability company), AG (public limited company), or UG (unlimited company).
- The minimum capital requirement for a GmbH is €10,000 since 2024 (previously €35,000).
Steps
- Choosing a Business Structure — Select the appropriate business structure based on the company's size, type, and ownership. This will determine the required documentation and registration process.
- Registering the Company — Register the company with the Austrian Commercial Register (Handelsregister). The registration process typically takes 1-2 weeks.
- Obtaining Licenses and Permits — Depending on the type of business, additional licenses and permits may be required. These can take several weeks or months to obtain.
- Opening a Business Bank Account — Open a business bank account to manage the company's finances. This may require additional documentation and can take several days to weeks.
Costs
- Commercial Register Registration Fee: €200-500
Timelines
- Registration with Commercial Register: 1-2 weeks
Required documents
- Articles of Association
- Memorandum of Association
- Proof of identity and address for company founders
- Proof of capital
Common mistakes
- Failing to register the company with the Commercial Register in a timely manner
- Not obtaining necessary licenses and permits