Austria-dexin consulting

Austria

Austria is a parliamentary republic in central Europe. Its capital is Vienna, with a population of more than 1.7 million, making it the largest city in Austria. Due to the influence of geographical location, it is one of the important hubs in Europe. Austria is a highly developed capitalist country and one of the founding countries of the OECD. Austria’s industrial feature is high degree of nationalization. State-owned enterprises control 95% of basic industries and over 85% of power industries, and has a production value and number of employees, accounting for 70% of the total.

Industry

The largest industry in Austria is mechanical industry, including metal processing, machinery and equipment manufacturing, etc. There are about 1900 enterprises, accounting for 1/4 of value of the Austrian industrial output. The Austrian machinery industry invests about 480 million euros in research and development each year. Special machinery, customized machinery and boiler construction are the core competitiveness of the Austrian machinery industry.
Tax revenue

Austrian corporate income tax is fully progressive, with the lowest tax rate of 30% and the highest tax rate of 55%.As for the profit assigned to citizens by corporates, corporate income tax is halved. Austrian Chancellor Kurz stated in January 2020 that the Austrian governing coalition plans to reduce the corporate income tax rate from 25% to 21%.
Law

Austrian legal system is based on separation of three powers of legislation, judicature and administration. Austria implements European legal framework after joining the European Union. Austrian Corporation Law stipulates the following types of corporate: (1) limited liability company (2) joint-stock company (3) European company (4) general partnership company (5) limited partnership company (6) dormant partnership company (7) registered civil-law partnership company (8) civil-law partnership company (9) cooperative organization; and (10) association. Among which, Austrian Gesellschaft mit beschränkter Haftung (limited liability company) is usually used to carry out business in Austria due to its simple structure and limited liability. The minimum share capital is 35,000 euros, 50% of which must be paid in cash. On March 1, 2014, the Austrian Limited Liability Company Law also stipulated "privileges" for founders, allowing them to establish a limited liability company with a share capital of only 10,000 euros (of which 5,000 euros must be prepaid in cash). However, if this "light" company limited by shares is chosen, you must increase the minimum share capital to 35,000 euros within 10 years. The liability of a company limited by shares to third parties is limited to the amount of capital invested. Foreign citizens and entities can serve as shareholders or founders without any restriction. The shareholders of a company limited by shares can directly influence and guide the behavior of its board of directors
Advantages

In terms of economic environment, Austria is located in the center of Europe and is the fourth economically prosperous country in the EU, with a per capita GDP exceeding 36,000 euros, far exceeding the average level of the EU and the eurozone. Austria is a permanently neutral country so its economic and political environment is very stable. The annual inflation rate is about 1%, and the rate of natural disasters and strikes is extremely low, which guarantees the property and personal safety of enterprises.