Introduction to setting up an Austria branch
Austria actively encourages foreign investors, ensuring that they have basically the same requirements as citizens of the country. Numerous procedures involved in the branch formation process are the same as setting up a company, although the timescale is slightly longer due to more complex documentation. The name of the branch must end in ‘Zweigniederlassung Osterreich’ (Branch Austria) or ‘Zweigniederlassung Wien’ (Branch Vienna). Additional regulations and restrictions may be dictated by the Austrian jurisdiction in which the branch is domiciled.
What are the formalities regarding Austria branches?
- a copy of the parent company’s Certificate of Incorporation
- Memorandum and Articles of Association of the parent company
- a copy of the parent company’s Certificate of Good Standing
- the parent company’s resolution confirming the decision to form the branch
- a registered office
- at least one managing director of the branch – not required to be an Austrian citizen or resident
In order for the branch to be registered, the documents above must be submitted to the commercial register within one month of the branch being set up.
These documents are required to be officially notarised, apostilled and translated into German by a certified translator.
What are the accounting requirements for an Austrian Branch?
The branch company must have an Austrian bank account. Clients must visit Austria in order to set this up, but we can assist you through every step of the procedure.
Registration into the commercial register automatically notifies the tax authorities of a new company, but the Austrian representative must still actively apply for a VAT number within a month of the company’s formation.
VAT returns must be submitted either monthly or quarterly and tax accounts annually. An audit is also required.
Please visit accountancyineurope.com(L) for further information regarding Austrian accountancy and taxation.
What office facilities are available when registering a branch?
The minimum requirement for an Austria branch is a registered office – an address to which company correspondence is sent.
However, a physical or virtual office may be preferable for EU VAT application.
- A physical office is a permanent office space occupied by the branch, where company business is conducted.
- A virtual office provides off-site communication to the branch, enabling you to maintain the business professionalism associated with a physical office.
Please contact us for a quote regarding your office rental.
Branch formation packages
Our branch formation packages, including bank account set up and VAT registration for the branch, mean that you can relax while our accomplished team take care of everything.
Establishing multiple branches can further extend the advantages, such as client security and increased exposure, which come with registering a branch. Using our wealth of experience and expertise on the requirements of European formation we can guide you through setting up multiple branches, holding your hand every step of the way.
For further information please send an enquiry or contact us.