Starting a Business in Austria?
Thinking of starting or moving a business operation to Austria? Well some good reasons are...
Taxes for business in Austria:
One of Austria’s foremost attractions as a business location is its business-friendly tax system. Austria’s low corporate taxation, moderate income taxes, a moratorium on wealth and trade taxes and extremely favorable provisions for private foundations have already attracted the attention of the international investment community.
Since 2005 Austria´s tax system is even more attractive: the corporate income tax rate has been lowered to 25% and a very attractive group taxation system has become effective.
How secure a country?
When it comes to safety & security of persons and property, the World Competitiveness Yearbook 2005 ranks Austria in the world as number 3. As a comparison the UK was 12th!
Business subsides:
Austria offers foreign investors a wide range of subsidies for small and medium-sized enterprises (SMEs), research and development, company start-ups, investment and new technology. These extend from cash grants and preferential rates of interest through to the provision of guarantees. These exceptionally generous provisions enable companies to take up support programs tailored to their specific requirements.
Austria offers foreign investors a wide range of subsidies for small and medium-sized enterprises (SMEs), research and development, company start-ups, investment and new technology. These extend from cash grants and preferential rates of interest through to the provision of guarantees. These exceptionally generous provisions enable companies to take up support programs tailored to their specific requirements.
Austrian accession to the European Union has brought an increase in the subsidies available. On the one hand, higher upper limits for subsidies apply within the regional development areas and, on the other, co-financing is available in regions eligible for support from the EU Structural Funds. The thresholds for aid payments to SMEs are as follows:
A small enterprise is classified by the EU guidelines on state aid for SMEs as one that employs no more than 50 persons and either has an annual turnover of EUR 5 million or less or a balance sheet total of no more than EUR 2 million.
A medium-sized enterprise is classified by the EU guidelines on state aid as one which employs no more than
250 people and has an annual turnover of not more than EUR 20 million, or a balance sheet total of no more than
EUR 10 million.
A large enterprise is one which exceeds the above limits, or any firm in which another, large company has a stake in excess of 25%.
For more detailed information on business in Austria, please visit the Austrian Business Agency website. This is the site where you will find all the information needed, from investing & setting up business to information on schools and lifestyle.
The Austrian Business Agency (ABA), is a government-operated consulting firm. They offer comprehensive and non bureaucratic know-how, services and advice ranging on issues from incentives to market opportunities to tax concerns. And all completely free of charge! Now that must be worth a visit?
Another site that is a mine of information on business, property and tax law is 'Austrian Trade.org'
The links are below
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