If you are looking for an opportunity to expand your business profitably and take a convenient position in the European market, then registering a company in Austria remotely or opening a corporate account in the Austrian bank will be the best solution in 2022. Austria is a progressive federal state, located in Central Europe. The country has a comprehensively developed economy, the strongest industries of which are: a textile, a woodworking, an electrical, a chemical, a petrochemical.
The capital of the Australia Republic is Vienna. The official language is German. A monetary unit is the euro. Austria is among the participants in such global organizations as the European Union and the United Nations.
Jurisdiction benefits
According to the assessment of the world-famous financial magazine Doing Business, in 2019 Austria took the well-deserved 1st place in international trade. Also, in the registration of enterprises, the country was in 32nd place, in terms of ease of doing business - in 26th place, and in ensuring the fulfillment of the terms of contracts - in 10th place.
Speaking about main benefits of jurisdiction for foreign entrepreneurs, who may be interested in registering a company in Austria, it is worth highlighting the following points:
- a progressive economy;
- a stable political environment;
- highly skilled workforce;
- a wide production base;
- a well-developed banking sector;
- a high state interest in foreign investment;
- a large selection of financing programs with a favorable incentive system (tax incentives, cash grants, low credit rates);
- a flexible tax system.
Those, who have been attracted by the idea of registering an Austrian company for a long time, should pay attention to such business niches in 2022 a tourism, a construction industry, an energy sector, a banking and insurance, a science and innovation.
Popular types of companies in Austria
As of 2022, the list of the most common legal forms characteristic of the Republic of Austria is as follows:
- a Joint Stock Company (AG);
- a Closed Limited Liability Company (GmbH);
- a Partnership (OHG/OEG);
- a Limited Partnership (KG/KEG).
Basic requirements for registering a business in Austria
To register a commercial firm in Austria as successfully as possible, study carefully the following conditions:
- The unique name with the addition of the ending: OG, AG, KG, GmbH, etc.;
- The number of directors/shareholders is 1 (individuals/legal entities, without restrictions regarding residency);
- Mandatory annual meetings;
- The authorized capital of the company is at least 10 thousand EUR;
- A ready-made package of registration documents;
- Mandatory maintenance of annual financial statements;
- Opening the account in an Austrian bank;
- Obtaining an Australian appropriate business license (required for 82 activities).
Taxes in Austria
If you want to open a company in Austria, please note, that resident limited companies (GmbH) and joint-stock companies (AG) pay a fixed corporate tax rate of 25% on profits made both in Austria and beyond.
In turn, non-resident companies are subject to a limited tax on certain sources of income received within the country.
The following types of taxes are also applicable in the country:
- a value added tax is 20%;
- a dividend tax is 25%;
How to open a company in Austria?
YB Case specialists will consult on registering a company in Austria remotely, provide assistance in registering an account with an Austrian bank, provide advice on obtaining business licenses in Austria as soon as possible, and provide a number of additional qualified services. The company registration period is 14 days.
