Starting a Business - Austria

Austrian law permits 100% foreign ownership of a GmbH or FlexCo with no requirement for a local shareholder; managing directors may be non-Austrian and non-resident.

Since 1 January 2024 the minimum share capital for a GmbH is EUR 10,000 (down from EUR 35,000), of which at least EUR 5,000 must be paid in as a cash deposit; the new FlexCo shares the same EUR 10,000 floor.

Core steps: choose a name and legal form, draft and notarise the articles/declaration of establishment (which also appoints management), open an Austrian bank account and deposit capital, register in the Firmenbuch via the court, then obtain a tax number and VAT ID (UID) from the tax office.

Most business activities require a trade licence (Gewerbeberechtigung) before operations begin; legal entities must appoint a trade-law manager (gewerberechtlicher Geschäftsführer) holding the requisite certificate of qualification for regulated trades.

Firmenbuch registration generally takes about one to two weeks once documents are complete; deficiency notices from the court can add further weeks. The notarised deed and bank-account/capital steps are the main scheduling constraints.

Under the Investment Control Act (InvKG, in force July 2020), investments by non-EU/EEA/Swiss persons into Austrian undertakings in sensitive sectors require approval from the Ministry of Labour and Economy; clearance can take roughly 2.5–5 months depending on phase.