The Trade Register is the authority in charge of the registration of companies in Austria. Its main role is to receive the documents related to company formation in Austria and issue the certificates of registration for all businesses operating in this country.
With a vast experience in company registration, our local consultants offer tailored services to those interested in setting up a business in Austria. Below, our Austrian company formation agents explain how the Trade Register in this country works.
The Austrian Trade Register is actually known as the Austrian Commercial Register. The institution deals with company registration in Austria, as well as the supervision of the legal matters regarding the companies in Austria. Information about companies in Austria is kept in a database available at commercial courts and regional courts and it is protected by the Federal Computing Centre. Details on private foundations and cooperatives are also registered with the Austrian Trade Register in order to meet the provisions of the Austrian legislation. The Trade Register in Austria falls under the regulations of the Ministry of Justice and it has the role to establish communication links between entrepreneurs and law, as well as with the public.
The Companies Registry in Austria gathers and keeps the following information on local companies and the branches and subsidiaries of local and foreign companies operating here. Among the information kept is:
The Trade Register also keeps records on companies which have been registered with it and which have undergone bankruptcy or ceased to exist because of various reasons.
The Companies Register in Austria recognizes all the types of companies comprised in the Company Law. These are the sole proprietorship, the limited liability company, the joint stock company, and the partnership. Apart from these, branch offices, subsidiaries and liaison offices of foreign companies must also register with the Trade Register upon opening. The same information as in the case of local companies must be submitted by foreign companies operating in Austria.
Foundations and partnerships registered under the Civil Law must also submit information about their existence with the Trade Register. Also, joint ventures and franchises must also be registered with the Registrar.
Our company formation consultants in Austria can offer full information on the role of the Trade Register.
Company registration in Austria can be done in two different ways. One can go in person to one of the Commercial Register’s offices in Austria and file an application. It is also possible that the company registration is performed online, by downloading and completing an application form, together with the scanned copies of the requested documents via e-mail. After company registration in Austria is completed with the Trade Register, it is also necessary to register for tax purposes in Austria.
The Commercial Law in Austria provides for the following types of companies which can be registered with the Companies Registrar:
Our local consultants can explain the characteristics of each type of company.
Foreign investors who want to open companies in Austria must bear in mind the following costs:
|Notary fees||Up to 2,000 EUR|
|Obtaining a confirmation for the company registration||Free of charge|
|Depositing the share capital||Free of charge|
|Registering with the local court||Approx. 30 EUR|
|Tax registration||Free of charge|
|Registering with the Trade Authority||Free of charge|
|Registering for taxation purposes||Free of charge|
|Registering with the municipality||Free of charge|
Anyone can have access to the database of the Commercial Register in Austria. It is necessary to submit an inquiry and one of the six providers will answer. They also deal with the collection of court fees. Searching the database can be simplified by using some filters, such as the company name, the legal form, the registered address, the name of shareholders or managers. On the basis of the searching process, information on the company is provided regarding the whole background and history. An excerpt of the company’s documents can be offered on request via e-mail or in print. This can be done at any office of the Commercial Register in Austria.
In order to register a company with the Companies House in Austria, one must submit the following information:
This information must be contained in the Articles of Association of the company. Also, the application forms issued by the Registrar must be filled in and submitted. The company is required to set up a bank account and information about will be required.
The directors must have their specimen signatures prepared and submitted with the Companies Registry. Their nominations must be accompanied by a declaration of appointment which must be signed by the shareholders and notarized by a public notary.
Once the company is registered, it will have the obligations of submitting annual financial information.
It should also be noted that any change brought to the company must be announced with the Commercial Register. Among these changes, the alterations brought to the company’s management structure and share capital must be registered with the Registry. Also, Austrian companies can change their trade names, a procedure which must be completed with the same Register.
If you are interested in registering a company, you can grant a power of attorney to a proxy. Our specialists in company formation in Austria can complete this procedure on behalf of foreign investors.
Every individual and company is allowed to ask for information with the Companies Register by submitting a request. The information will be issued free of charge unless the search is specific and targets the financial documents of the company.
Most of the times, this information is requested when performing company due diligence procedures, however, it is best to ask for specialized services in order to reduce the waiting period before the information is released. Our Austrian company formation advisors can perform Commercial Register checks on behalf of clients interested in obtaining information about a local company.
Company checks are performed in case of mergers and acquisitions when creating joint ventures and before entering any other type of commercial activity with a local business.
We strongly recommend foreign investors who want to open a business or carry out company searches in Austria to ask for specialized services. We can help with the registration of new companies, and we can also help in amending any changes brought to existing companies.
For details about company formation and registration in Austria, you may contact our local specialists.