The digital path to self-employment starting right now – electronic founding of companies
However, since July 31, 2017, the 40,000 new individual entrepreneurs setting up businesses each year can digitally forge their path to self-employment. Anyone who already boasts an authorized mobile phone signature or has it activated via FinanzOnline or locally at one of the more than 500 registration offices throughout Austria, you can set up a sole proprietorship online as of now by using the Business Service Portal (Unternehmensserviceportal - USP). Prospective entrepreneurs can implement the entire founding process – from registering their business to the compulsory registration with the fiscal and social security authorities - electronically and in a bundled manner at a one-stop-shop. In this way, they save having to make the trip to local authorities and the troublesome red tape.
Thanks to this offering, the Federal Ministry of Finance is further expanding Austria’s leading role in European e-Government. The business community, and especially startups, are the beneficiaries, and save time and money.
Starting in January 2018, single-person limited liability companies can be established online in an uncomplicated manner. In this way, the “eGründung” (eFounding) function in the Business Service Portal will already be able to handle about 85% of all new company foundations.
In the future, personal identification at the bank counter within the context of depositing the initial capital contribution will be sufficient to establish a company. As a result, founders will no longer have to go to a notary public, which was compulsory in the past. Establishing a company without authentication by a notary public or legal certification by a court will become reality.
The declared objective of eGründung is to stimulate the economy by simplifying bureaucratic procedures and accelerating the necessary administrative red tape. The latter should be primarily achieved by granting the value added tax identification number (UID Nummer) more quickly. As of 2018, the Federal Ministry of Finance will also implement a process designed to significantly accelerate the issuing of tax identification and value added tax identification numbers.
To continue fulfilling the demands imposed by increasing digitalization in the future, the government is examining ways to expand eGründung to other legal forms of business organizations. Furthermore, seamless digital processes are to be expanded, for example to issues relating to operating licenses.
The entire Business Service Portal team is working with a great deal of commitment so that in the future people will frequently no longer have to personally go to public authorities.