Establishing Business in Austria
The most commonly used type of corporation to set up a business in Austria is the limited liability company (Gesellschaft mit beschränkter Haftung). Minimum share capital is EUR 35,000.- of which only EUR 17,500.- must be paid in. The overall costs for establishing a limited liability company with a stated capital of EUR 35,000.- will be approximately EUR 4,000.-.
The incorporation of a limited liability company requires the execution of a notarial deed containing the articles of association which are usually prepared by an attorney at law. Normally, the setting up does not last not longer than a couple of weeks. The company may be established by only one founder as shareholder. The appointment of one managing director is sufficient. The latter does not have to be Austrian citizen.