Setting up an Austrian Company

Austrian law welcomes foreign entrepreneurs to start their business here, having similar rules as for Austrian entrepreneurs. The most common forms of business are the Austrian limited liability company and the Austrian joint stock corporation, which must be registered with the local court (Handelsgerich) and with the Commercial Register.

Preliminary activities before registering limited Liability and stock corporation companies in Austria
Both company types must function on the basis of a foundation act, or articles of association. It must be executed before a notary and it must be notarized. The articles of association must include a unique name which will represent the company, the scope and domain of the company's activity, the initial contribution of each shareholder and the final capital. Also the names and addresses of the managing members must be specified along with other specifications that the managing board chooses in the company's structure. Before registering the Austrian company, the minimum required capital for each company must be introduced in the bank, and a confirmation deed must be obtained.

Registering limited liability and stock corporation companies at the local court (Handelsgericht) in Austria
The application for registering both types of Austrian companies must contain the notarized declaration of establishment, the articles of association, the confirmation deed from the bank that the minimum required capital has been deposited and specimen signatures of the managing board (or members). Along with this procedure, an announcement of the formation of the new company will be published in the Wiener Zeitung.

Registering limited liability and stock corporation companies at the Commercial Register in Austria
The corporate name, the address, the capital and the scope of business of the company has to be published in an application for registration at the Commercial Register. Also a notarized document that shows the appointment of the managing members must be submitted along the application. Since January 1, 2007, the applications can be submitted electronically.

Registering limited liability and stock corporation companies at Tax Office in Austria
The purpose of this procedure is to obtain a VAT number. This is done after the commercial register issues a registration license of the new company. In order for this process to be completed, the representative of the company must fill a series of three forms and attach the articles of association, an excerpt of the company register and the specimen signature of the managing members, or the representatives of the company. After the procedure is completed the authority issues a tax identification number and a VAT number.

Registering for Social Security
Limited liability or stock corporation companies that have employees must register at the Social Security authority in order to obtain an employer's account. In order to do this an employer has to apply for a new account filing an application that can be submitted electronically.

Founding an Austrian company from abroad
In order to set up a company on the territory of Austria there is no need for an authorization from the government, nor do financial restrictions influence the economical aspects of the company's foundation. There is no legal distinction between a foreign-based, and an Austrian company. Even so, every document has to be translated in German language.

How long does it take to found an Austrian company?
The notarization time for the needed documents varies between 2 to 5 days. Registering a company at the local court is completed in one week, while registering the company at the Commercial Register may take up to 12 days. Every other procedure is finished in one day. Setting up an Austrian Company is finished in three weeks, up to a month.