Land of music composers. Haydn, Mozart, Schubert, Liszt, J. Strauss, Mahler, and Bruckner. Maybe Austrian air makes you want to create?
If yes, then it’s time to create a company in Austria NOW!
Basic Information About Austria:
- The Republic of Austria is a federal republic consisting of nine federal provinces, which are located in Central Europe.
- Area is only slightly larger than the Czech Republic, and its population is 8.6 million.
- Austria is a very popular tourist destination, even for Czech citizens. In the winter are snowy slopes and in summer the beautiful countryside. Vienna is the top tourist destination in Austria.
- Austria is a member of the European Union, the UN, the Council of Europe, the eurozone and the Schengen area.
Why starting business is Austria?
- Austria is one of the most developed countries of the European Union.
- With its long tradition of free markets and entrepreneurship among the countries with the best appreciation of the World Bank and business registers
- Since Austria is our neighbor to the south,it is interesting for Czech citizens, especially the Region, as a suitable destination, where to expand their business activities.
- Although the tax and legal environment in Austria is not the simplest, a stable business environment, law enforcement and more accommodating approach of the authorities makes it a perfect jurisdiction.
- Most often used companies in Austria GmbH (Gesellschaft mit beschränkter Haftung), which is very similar to the Czech limited liability company.
- The company is responsible for its liabilities in the amount of paid-up capital, which in Austria is 35 000 and is among the highest in the EU. A cash deposit must be paid at least 50% of the share capital to a bank account in the development of society.
- For the establishment of the company only one shareholder and one director are required
- In Austria, it is necessary to have a registered address, but you can use a virtual office, less expenses!
- The tax rate on corporate income in comparison with the Czech Republic higher, 25%. Moreover, there is a rule minimum tax must be paid even if the company will not profit. GmbH amounts to 1 750 EUR per year and AG 3 500 per year. The rate of value added tax in most cases is set at 20%, but in addition there is also a 10% reduced tax that applies eg. For foodstuffs, tourism services and others. Obligation to sign up to pay value added tax occurs at achieving an annual turnover of 30 000 EUR.