Company registration in Austria and the minimum initial capital
The initial capital to establish limited liability companies is 35,000 euros. Half of this capital must be in your account in the country of origin or your personal account in Austria, and the other half must be transferred to your company account in Austria. There are other costs for registering a company that you must consider, such as the cost of renting a specific location in Austria for your company, the cost of preparing a business plan, and the cost of a lawyer, which can vary depending on your case.
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Company registration in Austria and its general requirements
It is possible for you to register a company in Austria as a foreign applicant (Iranian) and the government of this country will issue this permit to you. By registering a company in Austria you can use the many legal benefits it has. Among the benefits of company registering in Austria are opening an international bank account, having almost free health insurance and covering all of the necessary cases, getting a one-year extendable residence permit, being able to get a loan with very low interest, free education for all family members and etc. You can actually register a new company in Austria or buy a company which was established before. Unlike many other countries, you do not need an Austrian partner to register a company in this country, and you own 100% of the company.
Company registration in Austria and types of companies
To register a company in Austria you must first decide what kind of company you want to register in this country. To choose the type of company, you need to know the different types of companies that can be registered in Austria.
In the following lines you can see the types of companies that can be registered in Austria:
- The first category: companies
Limited liability company (GmbH)
Shares of Public Joint Stock Company (AG)
Company with European laws (SE)
- The second category: partnerships
Public Participation (OG)
Limited participation (KG)
Silent Partnership (StG)
Civil Law Partnership (GesbR)
The most common type of company registration in Austria is a limited liability company (GmbH). When it comes to partnerships, public partnerships and limited partnerships are also the most popular. Public partnerships and limited partnerships in Austria have certain laws and obligations as well as certain duties and they can sue another person or company as a legal entity (Legal person) and you can get sued as well.
GmbH or Limited Liability Company is a legal entity and therefore has its own legal identity. This type of company in Austria can have specific rights, have specific obligations and duties, and can sue or be sued as a legal entity. This type of company can be registered by only one person or by several people which in that case a partnership agreement is required to establish this type of company. The minimum capital which is required for this type of company is 35,000.00 Euros. Our experienced lawyers in Austria will offer you the best and most suitable type of company according to the type of your application and resume.
Company registration in Austria and the steps of Company registration
Registering a company in Austria has steps and criteria that we will introduce to you in the following:
- In the first step of registering a company in Austria, you must determine the type of the company that you want to register.
- In the next step of registering a company in Austria, you need a brand that was introduced to you in the relevant information section
- The third step is providing documents that must be presented,
including:
- Copy all of the pages of the applicant’s passport and applicant’s companion’s passport
- Translate the applicant’s diplomas with the confirmation/approval of the embassy, which is done at the embassy of Austria in Tehran
- Translate the marriage certificate for married applicants with the confirmation/approval of the embassy
- Translate the letter of the applicant’s no-criminal record with confirmation of the embassy
- The lease or deed of the property in which your company will be located
- After this step, you must determine the amount of company’s capital and how to divide the shares between the partners and determine the members of the company.
This is stated in the company’s articles of association.
- provide the company’s official seal
- If you are not in Austria, you must choose a lawyer or legal representative to do these affairs.
- Company registration in Austria and choosing a company name:
You need to be a little more flexible in choosing your company name in Austria as this name should not be duplicated and should not have been used by any person or organization before you. In this step, which is done by your lawyer, you present a list of your desired names to your lawyer and your lawyer checks the possibility of registering your company with the desired name through legal inquiries.
- Company registration in Austria and determining the rules of the company:
In order to be able to register a company in Austria, you must also provide a articles of association (statue). Your company’s articles of association should describe the activities of your company as well as the laws that you and your partners are obliged to implement. In this articles of association, you define the main description of your company’s activities. Of course, in the future you can also change the description of these activities, which must be approved by the Labor Office (Department of Labor).
Company registration in Austria and business plan
One of the requirements for registering a company in Austria is a business plan. This business plan is a business plan that includes all of your company’s information. This business plan must be approved by the Austrian government to allow you to register a company. This plan must be written Primarily by the applicant himself/herself, but since most of the applicants do not know the basics of writing this plan, they ask for the help of lawyers and business consultants. You can also buy a plan which is ready and written by someone else. Our business consultants and lawyers at Malekpour Legal Institute will be with you from the beginning to the end of the process of preparing your desired business plan and can take care of the entire process of preparing your business plan.
Registering a company in Austria and getting a residence permit
At first the correct definition of residence must be provided. What is the meaning of residence? Residence can be short-term, long-term or permanent. For example, if you are studying in Austria, you will get an annual residence card, and if you work while studying, this card will be extended until the end of your studies, but this card will never become a permanent residence card through studying. Residence in this article means permanent residence. After registering a company in Austria, you can get your annual residence card as the CEO of the company. If your company is operating and active according to the initial business plan you submitted and you are still working, you can renew your residence card. The positive point of the work residence card is that after 5 years from the issuance of the initial card and after its renewal, you can apply for a permanent residence card. Of course, the point is that either your company must have been active during this period of time or you have been hired by an employer during this period. After receiving your 5-year residence card and after 5 years from its date, you can apply for an Austrian passport. Of course, being fluent in German, as well as participation in the citizenship test and having a clean criminal record, are required to get a passport and citizenship.
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