Business Start-Up Costs in Austria
Business Start-Up Costs in AustriaUpdated on Monday 21st August 2017
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Entrepreneurs who wish to incorporate a new company in Austria will face a series of procedures and the costs associated with them. Some of these business start-up costs in Austria will differ according to the chosen type of company. For example, the incorporation costs will be lower for a sole trader, compared to a joint-stock company.
Our lawyers in Austria list some of the costs associated with starting a business, which are common for most business forms. Simpler types of legal entities, like the sole trader or the partnership, will not have all of the costs, namely those associated with drawing up the Articles of Association.
The minimum share capital in Austria
The joint stock company and the private limited liability company are two of the most used business entities in Austria. The minimum share capital is mandatory both for the private and the public limited companies.
The joint-stock company or the AG has a minimum capital requirement of 70,000 EUR, with a minimum of 35,000 EUR if the founders decide to open the company using an initial public offering. Out of the minimum share capital, 17,500 EUR must be paid upon incorporation. The minimum share capital for the private limited liability company is lower.
One of our attorneys in Austria can give you more details about the value of the shares in a limited liability company.
Other expenses for opening a business
Investors who open a company in Austria will incur a number of other expenses, apart from the required minimum share capital. These are generally administrative or processing costs, associated with notary fees, application fees or paperwork translations. Some of these costs include:
- notarizing the articles of association;
- registering the company with the Local Commercial Court;
- translating the company documents for branches in Austria;
Other business start-up costs include those for purchasing equipment as needed for the business activities and renting or buying a property in Austria that will serve as the local registered office.
If you choose to work with one of our lawyers in Austria, we can provide you with detailed information about the fees for legal services, the ones for notary services and others.
These costs are only the generally incurred ones and investors are advised to research what other costs are associated with a particular business field or type of company. You can contact our law firm in Austria for detailed information on the requirements for starting a business.