Fact File Supplied By:
Central European Time.
Vienna (VIE), Innsbruck (INN), Salzburg (SZG), Klagenfurt (KLU), Graz (GRZ), and Linz (LNZ).
Parliamentary republic, founded on democratic principles and the separation of powers.
International Dialing Code
Civil law system.
Private clients (no wealth or inheritance/estate/gift taxes). Investment vehicles (large treaty network, almost 90 DTTs). Holding companies (e.g., for investments through Austria into CEE/SEE). Foundations. Highly educated personnel.
Personal income tax
Progressive rate up to 55%.
Corporate income tax
25% (2022), 24% (2023), 23% (starting 2024).
Tax Information exchange agreements
Minimum authorised capital
In case of a GmbH (Gesellschaft mit beschränkter Haftung): EUR 35,000, of which half has to be paid in; it is also possible to set up a GmbH with a capital of EUR 10,000, of which half has to be paid in (but this is only possible for the first ten years).
Minimum share issue
Timescale for new entities
One to two weeks.
Legal fees: approx. EUR 3,000; court and notarial fees: approx. EUR 1,500.
Maintenance fees (including accounting, bookkeeping and filing of tax returns): approx. EUR 2,000; No public dues, besides minimum corporate income tax of EUR 500 for the first five years, EUR 1,000 for the following five years, and EUR 1,750 after 10 years.
Residency requirements/ownership restrictions
Company register; UBO register depending on percentage of participation.
Only allowed for companies listed on stock exchange, thus not for a GmbH.
Public share registry
At least annually.
Annual financial report; annual tax return.
Depends on size of company.
Company naming restrictions
No deceptive company names allowed; name's availability to be checked with company register.