Depending on the needs of the specific case, the entrepreneur chooses among the following legal forms to form a company:
-Aktiengesellschaft (AG) corresponds to Italian S.P.A
-Gesellschaft mit beschrankter Haftung (GmbH) corresponds to Italian S.R.L
||resolutions of the members
also with circular vote
|notaries minutes for the Shareholders’ Meeting
(so more expensive)
(compulsory only for the GmbH with certain characteristics)
||Revoke at any time
|Revocation only for serious reasons. Appointed for a predetermined period.
|Formality of the transfer of participation fees.
||Shown and registered in the shareholders’ book
||Rate of 25%
Minimum: EUR 1.750
|Rate of 25%
Minimum: EUR 3.500
|Financial statements||Must be filed with the Business Register (facilitated for Small Businesses)||It must be verified by an auditor, deposited and possibly published in the Official Journal|
In Austria the most widespread corporate form is the limited liability company GmbH, which is a legal entity, the members are not obliged to personally respond to the company’s activities, other than that of maintaining the share capital.
The company GmbH is constituted by one or more partners by means of a notary deed and can be considered validly constituted by registering it in the Business Register. Members may have Austrian or foreign citizenship, be natural or legal persons with residence or place also abroad. The names of the members are entered in the Register of Companies.
In the case in which the company was constituted by a single member, the social contract will be replaced (again via a notary deed) by a declaration of incorporation.
In Austria, contrary to the Italian legal system, a limited liability company with a single shareholder is not required to indicate the uni personality of its corporate structure on its headed paper.
The total cost for setting up a company is € 35,000.00. For those who have founded a company with a reduced capital of € 10,000.00 (of which it is mandatory to pay at least € 5,000.00), within 10 years will have to adjust the capital to € 35.00.00 provided by the new law.
The company AG (similar to an Italian S.P.A.) is also constituted by a notary deed by one or more founders.
The company can be considered constituted for all purposes with the registration in the Register of Companies. The founders, like all future shareholders, may be Austrian or foreign, natural or legal persons. The shares are generally registered, if they are a listed company, the shares may be bearer shares. With the sole exception, the names of shareholders are not reimbursed in the Register of Companies.
The minimum share capital of the AG amounts to € 70,000.00, of which at least ¼ must be paid at the time of incorporation.