Registering a company in Austria is a relatively straightforward process, and with the right resources and support, your Austrian company can thrive in the European market. By following this guide and working with a local attorney, accountant, and business consultant, you can navigate the registration process and set your company up for success in Austria.
Step 1: Choose the Type of Company
The first step in registering a company in Austria is to decide on the type of company you want to establish. The most common types of companies in Austria are:
- Gesellschaft mit beschränkter Haftung (GmbH): A private limited liability company, similar to a Limited Liability Company (LLC) in the United States.
- Aktiengesellschaft (AG): A public limited liability company, similar to a Corporation in the United States.
Step 2: Check Company Name Availability
Once you've chosen the type of company, the next step is to check the availability of your desired company name. This can be done through the Austrian Company Register (https://www.firmenbuchgrundbuch.at/).
Step 3: Draft the Articles of Association
Hire a local attorney or use a corporate service provider to draft the Articles of Association in accordance with Austrian law. This document will outline the company's purpose, structure, share distribution, and other essential details.
Step 4: Open a Corporate Bank Account
To register a company in Austria, you must deposit the required minimum share capital into a corporate bank account. For a GmbH, the minimum share capital is €35,000, while for an AG, it is €70,000.
Step 5: Notarize the Articles of Association
The Articles of Association must be notarized by an Austrian notary public before being submitted to the Austrian Company Register.
Step 6: Register the Company with the Austrian Company Register
Submit the notarized Articles of Association, along with other required documents, to the Austrian Company Register for registration. The registration fee is approximately €300 for a GmbH and €500 for an AG.
Step 7: Register for Tax Purposes
Upon successful registration with the Austrian Company Register, you will receive a company registration number. Use this number to register your company for tax purposes with the Austrian Tax Office (Finanzamt).
Step 8: Register for Social Insurance
Employers in Austria are required to register their employees for social insurance. You can do this through the Austrian Social Insurance Institution (Österreichische Sozialversicherung).
Step 9: Obtain any Industry-Specific Licenses or Permits
Depending on the nature of your business, you may need additional licenses or permits specific to your industry. These could include permits related to health, safety, or environmental regulations. To determine if your business requires any additional licenses or permits, consult with a local attorney or business consultant.
Comply with Local Laws and Regulations
In addition to registering your company, it's important to familiarize yourself with Austrian laws and regulations. This includes tax reporting, labor laws, and industry-specific regulations. Consulting with a local attorney or business consultant can help ensure your company is compliant with these laws and regulations.
The entire process of registering a company in Austria typically takes between four to six weeks, depending on the complexity of the business and how quickly you can gather and submit the required documentation.