Company Management in Austria
Company Management in AustriaUpdated on Monday 18th September 2017
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Company management in Austria is subject to a series of rules and regulations for corporate structuring, the duties, liabilities and rights of company members and the regulations for corporate restructuring.
Corporate management is governed primarily by the Limited Liability Corporation Act and the Stock Corporation Act, together with other relevant Austrian Codes.
If you are interested in starting a company in Austria and need to know more information before taking on the first steps for incorporation, you can talk to one of our lawyers in Austria.
Laws and regulations for company management in Austria
Company management and control is regulated in Austria through a series of Acts and Codes. The two main legal sources are the Stock Corporation Act and the Limited Liability Corporation Act. Other laws include the General Civil Code, the Business Code and the Stock Exchange Act for listed companies.
Employment in Austria is regulated by the Labour Constitution Act. one of our attorneys in Austria can give you more details on particular employee management issues within a company.
Lastly, a company is governed by its own Articles of Association. These apply to the internal management of that corporation, special rules for assigning or demitting company directors as well as the rights of shareholders.
Investors can use the help provided by one of the specialists at our law firm in Austria for drafting and drawing up the company’s constitutive documents.
General managerial requirements for companies in Austria
Austrian companies are required to have a management board. The applicable corporate governance rules as well as the accounting and reporting requirements are generally more relaxed for limited liability companies, compared to joint stock corporations. However, investors are advised to seek professional legal help from a lawyer in Austria when deciding upon the type of structure.
Stock companies in Austria have a two-tier management system, comprised of the management board and the supervisory board. The latter is responsible for approving some transactions, supervising the management board and appointing or dismissing company directors.
You can contact the experts at our law firm in Austria for more details on corporate management and control in the country.