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14/11/24

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Articles

Fact File

Fact File Supplied By:

Wolf Theiss.

Location

Central Europe.

Timezone

Central European Time.

Population

8,977,139 (2024).

Capital

Vienna.

Airport

Vienna (VIE), Innsbruck (INN), Salzburg (SZG), Klagenfurt (KLU), Graz (GRZ), and Linz (LNZ).

Language

German.

Currency

Euro (EUR).

Political System

Parliamentary republic, founded on democratic principles and the separation of powers.

International Dialing Code

+43

Legal System

Civil law system.

Centre's Expertise

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

23%.

Exchange restrictions

None.

Tax Information exchange agreements

Visit https://www.bmf.gv.at/themen/steuern/internationales-steuerrecht/doppelbesteuerungsabkommen/dba-informationsaustausch.html

Permitted currencies

EUR.

Minimum authorised capital

In case of a GmbH (Gesellschaft mit beschränkter Haftung): EUR 10,000 of which half has to be paid in.

Minimum share issue

None.

Shelf companies

Available.

Timescale for new entities

One to two weeks.

Incorporation fees

Legal fees: approx. EUR 3,000; court and notarial fees: approx. EUR 1,500.

Annual fees

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 annually.

Minimum number

One.

Residency requirements/ownership restrictions

No.

Corporate directors

No.

Meetings/frequency

No limits.

Disclosure

Company register; UBO register depending on percentage of participation.

Bearer shares

Only allowed for companies listed on stock exchange, thus not for a GmbH.

Minimum number

One.

Public share registry

Company register.

Meetings/frequency

At least annually.

Annual return

Annual financial report; annual tax return.

Audit requirements

Depends on size of company.

Registered office

Yes.

Domicile issues

Legal seat.

Company naming restrictions

No deceptive company names allowed; name's availability to be checked with company register.

Recent Legislation

  • Tax Amendment Act 2023
  • Progression Compensation Act 2024
  • Charity Reform Act 2023
  • Start-Up Promotion Act