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Company registration in Austria
- Price:from 8000 EUR
- Term:1-4 weeks
Austria is a European country, one of the most popular for doing business in Europe. Membership in the EU allows the state to adhere to European standards and develop the national economy.
Austria is characterized by active rates of economic growth, a stable political situation and a highly developed banking system. That is why there are many types of businesses that can be profitable in Austria, including technology, tourism, manufacturing, retail, hospitality and financial services.
- identification of the client according to the KYC procedure
- registration procedures
- notarial services (more than half of the cost of company registration is notarial services - €4,000)
- legal and tax advice
- preparation of a package of corporate documents
- one courier delivery
Opening a business account for a company in the Payoneer or Emerald24 payment systems is a comprehensive service from our company. This service does not require additional payment, as we strive to ensure the most comfortable start of your company and emphasize the importance of our cooperation. You pay only bank fees in accordance with the requirements of the payment system, and we take full responsibility for communication with the payment system and collection of documents.
Please note that this offer is valid only if the company's activities comply with the specified payment systems (high and ultra-high risk are not included in the list of permitted activities).
- 1Austria is not offshore and has never been included in blacklists of countries
- 2Access to the EU market
- 3Understand local tax legislation
- 4There is no exchange control in the country (free import and export of capital)
- 5An Austrian company can obtain a tax resident certificate
- 6Austria has concluded more than 100 tax agreements, including with Ukraine
- 7The possibility of opening an account in the country of company registration
- 8Tax benefits for new companies have been established
The corporate tax rate in Austria is set at 23%. The minimum tax rate for a limited liability company is 1,750 euros. In relation to newly created companies, benefits in the amount of the minimum corporate tax are pledged. The minimum corporate tax rate for limited liability companies is EUR 500 for the first 5 years of the company's existence and EUR 1,000 per year for the following 5 years.
All income of residents received in the country of the world is subject to taxation. Income of a legal entity, received as a result of any type of entrepreneurial activity, as well as as a result of capital gains and passive investments, is subject to taxation. Profit (the difference between income and expenses) is taxed.
Dividends paid by an Austrian company to its shareholders are taxed at a rate of 27.5%. In accordance with international double taxation treaties, tax on dividends (as well as tax on interest and royalties) may be reduced or not levied on Austrian resident companies. As long as the company exists, the members of the company have the right only to the balance sheet profit that arose as a result of the reporting year. Authorized capital and target reserves cannot be used for payments.
Taxes and wages - the amount of the minimum wage is determined by the collective agreement, under which the activity of the company falls. In Austria, a system of fourteen salaries is adopted: twelve monthly salaries plus one month's salary as a Christmas bonus, plus one month's salary in the form of vacation pay. The terms Bruttogehalt and Nettogehalt are used in the Austrian lexicon. The first means salary before taxes, the second - after. Salary includes deductions for social insurance, income tax, mandatory and voluntary contributions.
Social insurance includes:health insurance for the payer and his family members, both husband and children, if they are not working; unemployment insurance; mandatory contributions to the pension fund.
In addition to wages, the employer pays his share of deductions for social insurance, income tax, mandatory contributions, and accident insurance. In total, the total rate of social contributions of the employer is 21.23%.
Austria offers a wide range of ownership forms for businesses. The most common forms of ownership are: Sole Proprietorship, Limited Liability Company (OHG), Limited Liability Company (GmbH), Joint Stock Company (AG), European Company (SE).
When choosing the form of ownership for a business in Austria, the following factors must be taken into account: business size, level of responsibility, burden, registration requirements. Non-residents most often register a Limited Liability Company (GmbH) in Austria. But if you plan to open a business in Austria, it is important to consult with a lawyer to choose the most suitable form of ownership for your business.
- Capital – the minimum amount of authorized capital is 35 000 EUR, half of which must be paid at the time of company registration. At least half of the authorized capital must be fully paid in money, and the remaining part can be contributed by property. When creating a GmbH, it is possible to use privileged authorized capital. In this case, the minimum amount of authorized capital for the first 10 years of the company's existence is 10 000 euros, after 10 years the authorized capital must be increased to 35 000 euros.
- Shareholder - at least 1 natural or legal person, there are no residency requirements. The minimum share of each founder must be 70 euros. The members of the company - the founders are not responsible for its obligations, they bear the risk of losses related to the company's activities within the limits of the parts belonging to them in the authorized capital of the company, but only until the company is in the stage of bankruptcy. In case of bankruptcy, the participants bear subsidiary responsibility for the company's debts with all their property. If the Austrian GmbH takes over the loan, the members of the community are personally liable for it.
- Director – only an individual can act, at least one director is required. Residency is not taken into account. The director is appointed by issuing a notarized decision of the participants. The appointment of the managing director may be revoked at any time by the company's adoption of the relevant decision.
- Available information - about the name of the company, its legal address, director, shareholder, secretary, as well as the size of the authorized capital.
- Secretary - optional, not required by the legislator.
- Register of beneficiaries – public with free access.
- There are no substance requirements.
- Legal address - must be in Austria.
Financial year for Austrian companies: January 1 - December 31. All legal entities in Austria are required by law to publish annual accounting and balance sheet data annually. Financial statements must be submitted to the trade register no later than 9 months after the end of the financial year. Submitted documents are publicly available.
- Audit is mandatory for companies if two of the statements are true:
- the total amount of assets is more than 4.84 million euros,
- turnover over 9.68 million EUR,
- the number of employees is more than 50 people.
In addition, VAT-paying companies submit VAT returns. The reporting period is a calendar month. The deadline for submitting VAT returns and paying VAT tax is until the 15th of the month following the reporting month. The threshold that requires registration by a VAT payer is 42 000 EUR per year - the amount of transactions that are the basis of VAT taxation.
- company name (preferably 3 options);
- the main types of enterprise activity;
- high-quality color scan copy of the internal passport of the shareholder of the company;
- high-quality color scan copy of the foreign passport of the shareholder of the company;
- high-quality scan copy of the utility bill for the shareholder's place of residence no older than 3 months;
- high-quality color scan copy of the internal passport of the director of the company;
- high-quality color scan copy of the foreign passport of the company director;
- high-quality scan copy of the utility bill for the place of residence of the company director, not older than 3 months.