How do I set up a GmbH in Austria?

An Austrian GmbH (Gesellschaft mit beschränkter Haftung) is the most common business structure for founders wanting limited liability. Formation involves several mandatory steps — unlike some jurisdictions, you cannot form an Austrian GmbH online without a notary.\n\nStep 1: Decide on share capital and Gründungsprivileg\nThe standard minimum share capital is €35,000, with at least €17,500 (50%) paid up before registration. If cash is limited, the Gründungsprivileg (§10b GmbHG) allows formation with just €10,000 share capital (€5,000 paid up) during the first 5 years. The GmbH still has full legal status; the reduced capital is simply noted in the Firmenbuch. The Gründungsprivileg must be explicitly stated in the Gesellschaftsvertrag.\n\nStep 2: Choose a company name (Firma)\nThe company name must be unique in the Firmenbuch and must include 'GmbH' or 'Gesellschaft mit beschränkter Haftung'. It cannot be misleading about the nature of the business. The name can include the founder's name, a description of the business, or a fantasy name. Check availability via the Firmenbuch online search (firmenbuch.justiz.gv.at) before committing.\n\nStep 3: Appoint Geschäftsführer (managing director)\nAt least one Geschäftsführer must be appointed. The Geschäftsführer can be the sole shareholder, an employee, or an external professional. There is no Austrian residency requirement for the Geschäftsführer — but a local address for service of process (Zustelladresse) must be available. The Geschäftsführer has full management authority and personal liability for certain compliance failures (tax, ASVG, Firmenbuch filing obligations).\n\nStep 4: Notarial deed\nThe Gesellschaftsvertrag must be executed before an Austrian Notar (notary). The notary drafts the articles of association, verifies shareholder identities, and takes the founding deposit confirmation. The notary fee is typically €1,500–€3,000 for a standard single-founder GmbH. Foreign shareholders may need to attend in person or provide authenticated powers of attorney.\n\nStep 5: Open a bank account and deposit capital\nBefore the notary can proceed, the required share capital must be deposited in a blocked business bank account. The bank issues a Depotbestätigung (deposit certificate) confirming the capital is available. The bank releases the funds only after the Firmenbuch registration is complete. Austrian banks with fast GmbH account opening: Raiffeisen, Erste Bank, Bank Austria, N26 Business.\n\nStep 6: Firmenbuch registration\nThe notary submits the formation documents electronically to the competent Firmenbuch court (Handelsgericht Wien for Vienna; relevant Landesgericht for other states). The Firmenbuch registers the company, typically within 1–3 business days for electronic submissions. A Firmenbuchauszug (extract) confirming registration can be downloaded from the Firmenbuch portal. The company only legally exists from the date of Firmenbuch entry.\n\nStep 7: Register with Finanzamt\nWithin 1 month of commencing business, the GmbH must register with the Finanzamt (Betriebseröffnungsmeldung via FinanzOnline). This registration triggers: assignment of a Steuernummer (tax number), assessment for KSt, USt registration if applicable, and ASVG/SVS obligations.\n\nStep 8: WKO membership\nMost commercially active GmbHs must join the Wirtschaftskammer Österreich (WKO) — the mandatory business membership organisation. WKO membership triggers annual fees based on turnover (~€150–€2,000/year for small businesses) and may include industry-specific sub-memberships.\n\nTotal formation costs\n- Notary fees: €1,500–€3,000\n- Firmenbuch court fees: approximately €570\n- Bank account setup: typically free to €200 depending on bank\n- WKO registration: ~€100 one-off plus annual membership\n- Steuerberater for tax setup: €500–€1,500\n- Total: approximately €2,500–€5,000 for a simple single-founder GmbH\n\nTimeline\nTotal formation time from first notary appointment to Firmenbuch registration: typically 1–2 weeks for a simple structure. Complex structures with multiple shareholders or foreign elements: 3–6 weeks.