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Weekly Tip 4 #Location Austria: Stumbling blocks in expanding to Austria

finanzviertel wien © Julius Silver

Appointing a statutory manager is the pre-requisite for obtaining a business license in Austria. This regulation applies to sole proprietorships, registered business partnerships (general partnerships – OG and limited partnerships – KG) and legal persons, for example corporations (limited liability companies – GmbH, joint stock companies (AG), and cooperatives (Genossenschaft). What is important for countries outside of the EU is that the statutory manager not only has to have the requisite professional qualifications but also a valid residence permit in Austria. “Entrepreneurs should get precise information as to what the statutory manager may decide and what responsibilities he has”, says Friedrich Schmidl, Director for Northern Germany at ABA-Invest in Austria. In any case he or she is responsible to the relevant trade authority for ensuring the company’s compliance with trade law regulations including ancillary laws (e.g. opening hours, price labeling and training). The statutory manager bears responsibility to the company for ensuring that his job is done professionally and properly. Tip from Friedrich Schmidl: “With the appropriate qualifications, the managing director under commercial law can also serve as the statutory manager.”


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