Want a gateway into Eastern Europe and all the benefits of operating in an EU member state? Why not consider Austria?
Sharing land borders with eight countries, Austria's prime position makes it ideal for business both within Western Europe and into Central and Eastern Europe (CEE) and the Commonwealth of Independent States (CIS). Here are some of the top reasons to choose Austria as your European business hub.
1. Speed to market
When you establish operations in Austria, your company is registered within a week, a tax number is issued within one day, and your Austrian entity enjoys one of the world's most extensive double taxation treaty networks, whether its purpose is for holding assets, financing or trading.
A single personal (even non-resident) managing director, a registered address, annual financial statements and an annual tax return is all that is required to run the most commonly-used form of a legal entity; the Austrian limited liability company (LLC).
The Austrian Group taxation scheme allows for the pooling of tax profits and losses of a domestic parent and its domestic subsidiaries, as well as tax losses of its foreign subsidiaries; subject to consolidated income taxation. Privileges for start-up enterprises means a substantially lower amount of equity is needed upon registration. This goes hand-in-hand with the Austrian R&D premium of 12% that applies to a domestic company's own R&D expenses (unlimited), as well as contract research (up to €1m p.a.) which is paid in cash by the tax office.
4. The heart of Europe
Austria is perfectly located on the brink of East and West, and Vienna International Airport provides you with fast connections to global business centres and 40 CEE destinations; more than any other airport in the world.
5. Motivated local workforce
Austrian employees are both highly educated and productive, and workers rarely go on strike. Wage cost is moderate compared with the EU average, and the country has highly flexible labour laws. These attributes make Austria an ideal hub for corporates looking to expand from Western Europe to the CEE/CIS, or the other way around.
Need more information? Register for our webinar on Tuesday 21 June 2016 to hear more from Alexander Walther and other speakers. QuickStart your business in Austria: how to reduce your administrative burden and maximise your benefits.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.