Commercial Code in Austria
Commercial Code in AustriaUpdated on Thursday 23rd February 2017
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The Commercial Code in Austria also referred to as the Business Code includes in the specialized forms of civil law. This applies to the conduct of business, import, and export, the formation of companies, the laws for businessmen and employers/employees but also to issues like consumer protection or unfair competition.
Businessmen who open a company in Austria do so following the provisions of the Company Act but at the same time by observing the provisions for trade and doing business set forth in the Commercial Code.
Our lawyers in Austria can detail the legal resources related to business and commercial law and the Acts that provide a framework for running a company and conducting commercial operations.
Commercial law in Austria
The Business Code is the most important legal source for conducting business in Austria and it should be observed in connection with other relevant laws like the Civil Code, the Labor Constitution Act or the Corporation Acts. The Business Code also includes the main provisions for accounting requirements in the country.
The Trade Act is another source for legal provisions for engaging in certain types of business and entrepreneurial activities. In Austria, there are regulated trades and non-regulated ones. The first category requires the individual to obtain a certificate of qualification. This Act does not apply to professions or businesses regulated by other acts, such as physicians.
Depending on the type of business they are engaged in, companies in Austria will also need to observe the Passenger Road Transport Act or the Goods Transport Act.
A lawyer in Austria is able to provide you with detailed information on the laws applicable to a certain business and the special permits and licenses for doing business.
Doing business in Austria
Companies in Austria are required to be incorporated as per the applicable laws and conduct their corporate governance accordingly. Investors have a number of corporate entities to choose from, each having its own characteristics suited to certain business types or activities.
For detailed information on the private law in Austria and specific legal issues related to your case or business please contact our law firm in Austria.