austria

Company Accounts Filing Requirements in Austria

Legal requirement to file annual accounts

According to their legal status, Austrian companies have to annually publish a profit and loss account, a balance sheet and an appendix. Partnerships are not obliged to lodge accounts. Financial statements and the report of the managing board need to be audited by an independent auditor and submitted to the commercial register within nine months after the end of the financial year.

AG companies

The legal existence of an AG begins with its entry in the commercial register. This entry must include the information that all shares are held by one person, along with his/her name and birthdate and the commercial registry number. AG companies must lodge accounts. A large AG company must publish the financial statements in the Wiener Zeitung, the official government newspaper.

GMBH companies

As not part of the EU, GMBH companies are not governed by the directive and as such it is unusual to see accounts filed. The names of the shareholders have to be registered and any transfer of such shares can only be done by notarial deed. The annual balance sheet and profit & loss sheets must be drafted within five months after the end of the business year.If a GmbH company controls other companies and the aggregate number of their employees exceeds 300, it is compulsory to have a supervisory board. In these cases an audit of the financial statements is required which must also be published.

Company registration and licensing procedures

All businesses register with the local Chamber of Commerce & Industry. There is no central registry. The company's registration request must be made with the Trade Register of the court where the company is located. The company is set up as soon as the statuses, as a company in process of formation, are signed. The legal entity however, is granted by the registration.

Types of companies registered in Austria

Form	Number of partners/ shareholders	Minimum and/or maximum capital	Liability	Release of financial documents
Gesellschaft put beschrankter Haftung (GmbH) is a Private Limited Company.	Minimum 2 partners. nb: 1 member for a sole proprietorship GmbH.	Minimum 35,000€. 50% totally subscribed and released at the creation.	Partners' liability is limited to the amount contributed.	No
Aktiengesellschaft (AG) is a Public Limited Company.	Minimum 2 shareholders.	Minimum 35,000€. 25% totally subscribed and released at the creation.	Partners' liability is limited to the amount contributed.	Yes
Offene Handelsgesellschaft (OHG) is a general partnership.	Minimum 2 partners.	No minimum capital.	Partners' liability is joint and several for social debts.	No
Kommanditgesellschaft (KG) is a limited partnership	Two types of partners: active partners and sleeping partners.	No minimum capital.	Liability of active partners is unlimited. Liability of sleeping partners is limited to the amount contributed.	No