GmbH in Austria comes from GesellschaftmitbeschränkterHaftung which is the name for limited liability company in Austria. This type of business is the most popular among foreign investors who come to Austria. Besides, limited liability companies in Austria are mainly designed for small and medium sized businesses. It is not permitted by law that a GmbH activates in the field of insurance or political association.
A minimum share capital of EUR 35,000 has to be provided for setting up a GmbH in Austria. The capital is divided into shares and each share has a minimum value of EUR 70. The investors should know that 50% of the initial capital has to be deposited prior to company registration in Austria.
At least one shareholder is required for setting up an Austrian GmbH. When there are several shareholders, they can organize meetings at the registered office according to the articles of association or they can agree to make decisions without a general meeting, but by written consent.
A managing board has to be appointed by the shareholders of a limited liability company in Austria. It is mandatory to have at least one managing director, who can be elected from the shareholders or not. No requirements in terms of residency or citizenship are made. Shareholders of the Austrian GmbH are also the ones who can decide to change a managing director at any time.
The law does not mention a supervisory board as a must in a limited liability company in Austria. However, this body is mandatory, if some conditions are met, such as more than 50 shareholders or over 300 employees in the Austrian GmbH.
Company registration in Austria is not possible without the existence of a registered office and address in Austria. Also, the costs for company formation in Austria depend on the initial capital invested in the limited liability company or GmbH in Austria.
You may contact our specialists in company formation in Austria for more details about incorporation of a limited liability company in Austria or other type of company available in this country and also for company registration in Serbia.