Interesting facts about Austria
- Austria is one of the 12 richest countries in the world in terms of GDP (Gross domestic product) per capita, which is $41,800 (2011 est.). It has a well-developed social market economy, and a high standard of living;
- Most of the population is Catholic, they make up 90%, 6% are Protestants, mostly Lutherans;
- Almost 90% of the population speak German, which is also the official language;
- The country’s unemployment rate is among the lowest in the EU country;
- Over 60% of Austria’s electricity is supplied by renewable sources;
- Austria has given the world many famous classical music composers, including Haydn, Mozart, Schubert, Liszt, J.Strauss, Mahler, and Bruckner;
- The first ever Youth Winter Olympics was held in Austria in 2012;
- About half of Austrian men are overweight, while around one-fifth of Austrian women are overweight;
- The Krimml Falls, with a height of 380 meters, are amongst the highest waterfalls of Europe;
- Tiergarten Schönbrunn of Vienna, founded in 1752 is the oldest zoological garden in the world.
Frequently asked questions
How difficult is it to open a corporate bank account for an Austrian company?It is very easy to open a corporate bank account with a reputable international bank in the Austria.
What is the minimum number of directors required for an Austrian company?An Austrian LLC needs a minimum of one director.
Is a resident director required?A resident director is not required for an Austrian LLC.
What is the minimum number of shareholders required for an Austrian company?An Austrian LLC requires a minimum of one shareholder. Corporate shareholders are permitted.
Are shareholder/director details available for public viewing?Yes.
What are the minimum capital requirements for an Austrian company?The minimum paid up share capital of a LLC in Austria is €10,000 of which €5,000 must be paid up into the corporate bank account before incorporation.
Is an Austrian company required to submit an annual return and/or financial statements?An Austrian company is required to submit annual financial statements to the Austrian Chamber of Commerce.
How much tax does an Austrian company pay?An Austrian LLC is liable to pay a corporate tax of 25%. Unless reduced by a tax treaty or the EU parent-subsidiary directive, an additional 25% withholding tax applies on dividends paid to non-residents.
Does an Austrian company benefit from Double Taxation treaties?Yes, Austria has a large network of double taxation treaties.