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Austria

Legal form:

GmbH, AG

Delivery:

4 weeks

Price: $

4000

Payment methods:

payment methods.webp

Requirements:

Document checklist:

Local legal address (Handled by B2B Hub) 

1.Passport
2.Proof of Residence 

Registrar

Organization name

Abbreviation

Country

Austria

Email

Phone

Listing
Open website
UK comapny formation (1).webp

About

Austria

Capital
Official languages
Population 
Currency

ISO 4217

Vienna

German

8.836 million

Euro

EUR

FAQ

Q: What types of companies can be formed in Austria?

A: The most common types of companies in Austria are Gesellschaft mit beschränkter Haftung (GmbH), Aktiengesellschaft (AG), and Einzelunternehmer (sole proprietorship).


Q: What are the requirements to form a company in Austria?

A: The requirements for forming a company in Austria include at least one director who is a resident of Austria or the European Union, a registered office address, and a minimum share capital of EUR 35,000 for an AG and EUR 10,000 for a GmbH.


Q: How long does it take to register a company in Austria?

A: The registration process for a company in Austria can take approximately two weeks.


Q: What are the documents required to register a company in Austria?

A: The documents required include the company's articles of association, a registered office address, details of the company's directors and shareholders, and payment of the relevant registration fees.


Q: Can foreigners own a company in Austria?

A: Yes, foreigners can own and operate a company in Austria. However, if the company is not an Austrian tax resident, it may be subject to different tax rates and reporting requirements.


Q: What are the tax implications of forming a company in Austria?

A: Companies in Austria are subject to corporate income tax, which is currently set at a rate of 25%. There may also be other taxes and fees depending on the industry in which the company operates.


Q: What are the ongoing compliance requirements for a company in Austria?

A: Companies in Austria are required to file annual tax returns, maintain accurate financial records, and comply with various reporting and disclosure requirements. There may also be industry-specific regulations and compliance requirements.


Q: Can I use my Austrian company to do business outside of Austria?

A: Yes, you can use your Austrian company to conduct business anywhere in the world, as long as you comply with the relevant laws and regulations in those jurisdictions. However, you may need to obtain additional licenses and permits to operate in certain countries.

Economy

Austria has a strong and stable economy, with a GDP of $451.3 billion in 2019. This makes it the world's 32nd largest economy. The country has a high standard of living, with a GDP per capita of $48,845 in 2019. Austria has a low unemployment rate of 4.9%, and its inflation rate is 1.7%. The country has a strong export sector, with exports accounting for over 70% of its GDP. Austria is a major exporter of machinery, vehicles, chemicals, and food products. It also has a strong tourism industry, with over 12 million visitors in 2019. Austria has a strong banking sector, with the Austrian National Bank being the largest bank in the country. The country also has a well-developed infrastructure, with good roads, railways, and airports. Overall, Austria has a strong and stable economy, with a high standard of living and a strong export sector.

Taxation

In Austria, companies and individuals are subject to income tax and value-added tax (VAT).


Corporate Tax:

- The corporate income tax rate is 25%.

- Companies are required to file their tax returns annually.

- The tax year is usually the same as the calendar year, although it can be different if a company applies for a different fiscal year.

- Companies are required to make advance tax payments throughout the year, based on their expected profits.


Personal Tax:

- The personal income tax rate in Austria is progressive and ranges from 0% to 55%.

- Residents are subject to tax on their worldwide income, while non-residents are taxed only on their income earned in Austria.

- Tax returns are due by June 30 of the year following the tax year.

- Advance tax payments may be required for individuals who earn income from sources other than employment.


Value-Added Tax (VAT):

- The standard VAT rate is 20%, with reduced rates of 10% and 13% for certain goods and services.

- Businesses are required to register for VAT if their annual turnover exceeds a certain threshold.

- VAT returns are usually filed monthly or quarterly.


It's important to note that tax laws and regulations can change frequently, so it's advisable to seek professional advice from a tax expert or accountant to ensure compliance and accuracy in tax reporting and payments.

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