Austria Market Entry Strategy

How to set up Business in Austria?

Austria's economy is mostly driven by investment and private consumption. The factors that augment the confidence of individuals, investors, and businesses is the political stability of the country, a reliable legal system, and liberal trade policies. To start a business in Austria, first step should be, get a residence permit or visa then forming Company in Austria. Business owner has to be at least 18 years old and must not have a criminal record. Then apply for a trade license from the local district authority. Personal details, like, business name and location, and the type of business are required to be provided. You will also need to register the business with the Austrian Commercial Register. Here are the key steps to setting up the business in Austria:

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  Obtain trade license

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  Registration of Business

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  Obtaining Tax Identification number

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  Obtain necessary permits depending upon the sector or idustry

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There are many types of businesses in Austria. However, the most common is a limited liability company or a GmbH. The most common company type in Austria, the GmbH is a legally independent entity, which means that it is separate from its owners. It requires a minimum capital of €35,000 and requires paperwork, such as Articles of Associations.

Here are a few tips on planning, legal issues, hiring, immigration, and taxes & an overview of India market that would help you to build a expansion strategy for your business.

Top 3 Sectors for Investment in Austria

Austria’s leading industrial sectors are automotive industries, mechanical engineering, electronics, life sciences and environmental technology. Based on sectoral knowledge following sectors offer good opportunity for Indian Companies:

DOWNLOAD THE AUSTRIA MARKET ENTRY REPORT FOR FREE

Austria is a robust and stable economy backed by one of the strong currencies, a high-income population, and trade openness. Austria provides market opportunities for investors, business leaders, and entrepreneurs alike. The R&D supporting policies of the government has boosted innovation in the industries, thus making them future-ready. You can find a detailed report covering different facets and market intelligence related to Austria here.

Visa and Immigration

Austria offers a citizenship by investment option whereby foreign applicants invest actively in the Austrian economy. Under the citizenship-by-investment provisions, an applicant is required to invest actively in the Austrian economy, for example in the form of a joint venture or direct investment in a business that creates jobs or generates new export sales. Significant direct investment is generally required. In addition to standard documentary requirements (such as passports, birth, and marriage certificates), a completely clean personal record (certificate of no criminal record), a comprehensive CV, and business background information, as well as references must be provided by all applicants.

 

 

Red-White-Red Card - The easiest and fastest way to obtain a work visa for Austria is to apply for a Red-White-Red Card. Austria favors high-skilled immigration, that is why it has created a point-based system that ranks prospective immigrants based on their merits. The validity of work visas varies depending on the type of visa. Usually, they are valid for periods over six months up to 12 months.

 

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