Information about a company registration process in Austria
Requirements for company registration in Austria:
1. Company name. It is necessary to create a name that would reflect the specifics of the company’s activities. Any fictional words, as well as various combinations of letters or numbers, can be used. It is better to avoid using the words «Austria,» «Europ’isch,» «Gruppe,» «Weltweit» because it can lead to additional difficulties when registering. In this case, it will be necessary to provide proof that the company is actually a member of a group or operates in Europe. If necessary, Crown Consulting specialists will conduct an evaluation of a few names you provide.
2. Legal address. It’s required to indicate the company’s location.
3. Registered capital. Registered capital amount is €35 thousand. At least half of this money must be deposited into a bank account in cash. It is also possible to register a company with a €10 thousand capital, at least €5000 must be deposited into a bank account. At the same time, within 10 years the capital should increase to €35 thousand.
4. Executive Director. Executive Director’s full name, their address and date of birth must be specified. When registering a company, they must personally attend the procedure.
5. Founders. Accurate information is needed: full name, address and date of birth. If there are several founders, it is necessary to specify the registered capital share of each of them. When registering a company, another person based on a letter of attorney may represent a founder.
A bank account must be opened to deposit the registered capital. Both founders and the Executive Director must provide all the necessary documentation at a bank’s request. Besides, many banks schedule a face-to-face interview with the company’s Executive Director and founders.
Prepare passport copies of all the mentioned persons, their certificates of registration of the residence places, and documents confirming the funds’ source: it can be certificates of income, copies of tax returns, etc.