Introduction to setting up a Company in Austria
Establishing a subsidiary in Austria is much the same as forming a company in terms of requirements. The New Companies Promotion Act (NeuFöG) supports new businesses setting up in Austria by helping to moderate the cost of formation. Forming a subsidiary in Austria is favourable for foreign investors as its geographical position is well positioned as a step towards successful trading in Eastern Europe and the Balkans
What are the main requirements for an Austrian Company?
– The minimum share capital required is €35,000
– The Memorandum & Articles of Association of the subsidiary
– The resolution of the parent company detailing its decision to form the subsidiary
The documents shown above must be filed with the Austrian Commercial Register in order for the subsidiary to be registered.
All required documents must be officially notarised, apostilled, and translated into German by a sworn translator.
What are the accounting requirements of an Austrian Company?
The subsidiary must register its business activities with the Austrian Ministry of Finance – Bundesministerium fur Finanzen, and obtain a tax ID number within a month of being established.
As the subsidiary is a separate entity from the parent company its financial accounts must comply with the Austrian Commercial Code (UGB). Audited annual accounts and either monthly or quarterly VAT returns must be submitted.
If the parent company resides outside the EU a fiscal representative may need to be assigned.
Please contact us in order to discuss your accounting requirements.
We will handle every aspect of the Company formation for you. Using our expert knowledge we can offer a company formation package in which we take care of company registration, issue of the certificates of registration, local directors, local representative and place of business in Austria, tax registration, VAT registration, and translation of documents into German.
Our unique one stop solution for all European formation requirements also offers formation packages to set up multiple companies. The benefits for establishing multiple companies include further increased exposure and global presence, and we can organise everything for you.
A summary of Austrian Corporate Taxes is available here.