According to recent report, the information and communications technology (ICT) industry in Austria is one of the most developed economic sectors. It generates close to 8% of the total value of the research and development (R&D) industry which has a great impact on all Austrian companies in terms of productivity. Also, according to the Association of the Austrian Electrical and Electronics Industry, the IT sector employs more than 220,000 individuals.
Foreign investors interested in setting up a business in an industry which is evolving constantly, can rely on the IT sector. Our company formation consultants in Austria can offer information on the legislation supporting the development of the information technology sector.
The limited liability company is the most popular type of structure used to open a company in Austria. This is also available for those who want to start an IT company in Austria. Foreign IT companies seeking to unfold their activities in Europe can set up subsidiaries or branch offices.
The Austrian company formation process of an IT business implies preparing the constitutive documents of the company and filing them with the Trade Register. Following that, the IT company must obtain a set of licenses which will be issued by the Ministry of Transport, Innovation and Technology through the Regulatory Authority for Broadcasting and Telecommunications.
Our company registration agents in Austria can offer information on the licenses related to opening an IT company.
At the moment, most of the activities carried out by Austrian IT companies revolve around the research and development sector. One of the main reasons for this is that the government has enabled various assistance programs for R&D activities. However, IT companies may also provide other services, such as:
IT companies can also create and sell programs used by financial companies in Austria, as the financial sector is another developed industry which relies on the newest and most modern communications tools.
For assistance in opening an IT company, please feel free to contact us.