Open a Bank Account in Austria

Open a Bank Account in Austria

Updated on Monday 15th October 2018

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Open-a-bank-account-in-Austria.jpgForeign investors and employees should make it a priority to open a bank account in Austria once they have decided to open a company or take up employment here. This step is not only needed but mandatory in case of company formation.
Our team of lawyers in Austria is able to assist entrepreneurs in dealing with all banking matters, preparing the documents and making the necessary submissions.

How to open a corporate bank account in Austria

Bank account opening in Austria is generally a simple process and one that observes a few simple steps. Some of the issues the applicant should have in mind are the following:
  • - choose a bank: many international banks have branches in Austria and the applicant can choose one that has an advantageous package or one that also offers merchant account services.
  • - prepare the company documents: when opening a corporate bank account, the bank will require some of the company’s documents, such as the Articles of Incorporation and perhaps signature specimens for the directors; this also applies to branches of foreign companies.
  • - have the identification documents: identification documents for the company directors or the legal representative will also be required.
  • - fee payment: different banks will have various fees when opening a bank account as well as per the chosen additional services and packages.
Austria is known as a country that is home to some of the world’s most reputable banking institutions. An attorney at our law firm in Austria can help you with information as well as assistance for opening a bank account.

Bank account holders in Austria

The bank account is required not only for corporate incorporation purposes but also for expats living in Austria. This step is a priority for anyone relocating here or for employees in Austria.
For individuals, banks will typically require an identification document, proof of employment and of having an address. Non-residents are also allowed to open a bank account.
For detailed information about banking matters, both for corporate purposes and for foreign employees and those willing to move to Austria, please do not hesitate to contact our lawyers in Austria.
We provided tailored services and legal counseling for foreign clients and our attorneys are able to answer any questions as well as help you with various matters, especially for non-German speaking foreigners. Contact our law firm in Austria for details.