Businesses and self-employed individuals must obtain a business license in Austria. This is known as the trade license in Austria which serves for varied types of economic activities, and not only for import and export operations as normally does in other countries. Our lawyers in Austria can give entrepreneurs information about the required special permits and licenses according to the business field in which they want to carry out the activities.
| Quick Facts | |
|---|---|
| Activity sectors for which a business license is required in Austria |
– banking, – financial services, – tourism, – transport, – real estate, and more |
|
Licensing requirements for professional services in Austria |
– residence permits for non-EU/EEA businessmen, – clear criminal record, – proof of qualifications, etc. |
|
Minimum age for business license application |
18 |
| Authority that issues the business licenses in Austria | Depending on type: Austrian Economic Chamber, Financial Market Authority, Professional Chambers |
| License for banking activities in Austria |
Issued by the Financial Market Authority |
| How can business license applications be registered in Austria? |
Online or in person. In both cases, we recommend the services of our lawyers in Austria. |
| Providing travel/tourism services in Austria |
Only by licensed travel agents |
| Real estate licensing in Austria |
Real estate agents must prove professional qualification, as stated by the Austrian Trade Act 1973. |
| Recognition of foreign degrees/qualifications |
Might vary depending on the profession. |
| Lisbon Recognition Convention required for: | Recognition of qualifications in the higher education sector to carry out a specific profession |
| Trade license in Austria |
A trade license is issued through informal registration with the responsible trade authorities in Austria. |
| Sole traders without proof of qualifications |
Should name a manager who has the requisite certificate of qualification, under the Trade Act in Austria. |
| Time frame to get a business license in Austria |
About 3 months |
| Representation with a power of attorney for getting a business license in Austria |
Our Austrian lawyers can act on behalf of entrepreneurs for obtaining a business license for their future activities. |
| Working with our attorneys in Austria | We help foreign and local entrepreneurs obtain a business license in Austria, by managing the paperwork and dealing with the relevant authorities. |
Table of Contents
Types of business licenses in Austria
In Austria, the trade license (Gewerbeberechtigung) is the business license required for a wide range of activities, as listed in the Trade Act, Article 95. The trade license is the most common type of authorization in Austria, issued for various economic activities. In most cases, those who want to act as sole traders will need a trade license in Austria. Here are some examples of trade/business permits in Austria:
- electrical engineering,
- carpenters,
- gas & sanitary engineering,
- security firms,
- travel agencies,
- constructors,
- collection agencies and more.
The application starts with the Austrian Business License Information System for which one of our lawyers in Austria can offer consulting and legal assistance. In addition, by collaborating with the relevant authorities, our clients will always know the status of the process, whether documents are still needed, or whether a trade license in Austria is to be issued.
Who needs a trade license in Austria?
The trade license is mandatory for all business establishments in Austria, whether they are a sole proprietor, a partnership, or a corporation. According to law, any activity performed independently to derive income is a trade. Here is interesting information:
- Pre-conditions for trade licenses apply in the case of sole proprietors in Austria. Our attorneys in Austria can give you further information on opening this type of business entity.
- The Austrian law distinguishes between free traders (those who perform their business without formal qualifications and regulated traders (those who operate under special certificates).
- The first category includes retail traders, the IT sector or the media/advertising sector. Catering or hospitality services are a separate category for which proficiency certificates are needed.
Applying for a financial license in Austria
The Financial Market Authority (FMA) in Austria is the main supervisory authority of the financial activities in this country. This institution issues the following financial licenses:
- Banking and insurance licenses,
- Investment firm license,
- Electronic money institution license,
- Payment institution license.
The process of obtaining a financial license in Austria begins with an initial consultation with the above-mentioned authority in order for applicants to understand what the requirements and formalities entail. This is followed by the preparation and presentation of documents, including a detailed business plan, risk management policies, proof of capital, and information about the organizational structure of the financial company in Austria. Once all of these are prepared, submission for review and approval can proceed. The FMA will issue the requested financial license in Austria if all documents are accepted. We remind you that our Austrian lawyers can guide you on all legal aspects of obtaining such a business license.
What is a certificate of competence and why is it required?
The certificate of competence can be requested as part of the application for a business license in Austria. This document is necessary for regulated trades and refers to craftsmen certificate, university graduation diploma, etc. If this certificate of competence does not exist, the evaluation of individual qualifications should be applied for, as stipulated by the legislation regarding the trade license in Austria. We recommend those interested in this type of license to contact our Austrian lawyers and familiarize yourself with local regulations. Also, this infographic might help you understand the business license conditions in Austria:
Licensing requirements for professional services in Austria
A professional business license in Austria can be obtained without difficulty and you can even opt for our legal services. If in the case of citizens from the European Union, the condition of having residency in Austria is not imposed, in the case of those coming from non-EU/EEA countries, this requirement is mandatory. Here are other conditions:
- presenting a clear criminal record,
- fulfilling legal qualifications for the respective profession,
- applying for a trade license in Austria with the Economic Chamber.
We underline the fact that the competencies and foreign qualifications are recognized in Austria, but in certain cases, there may be exceptions. Starting from here, we advise you to discuss all legal aspects with one of our attorneys in Austria when you apply for a business license. You can also discover this video presentation with details on this topic:
How long does it take to issue a business license in Austria?
The authorities issuing trade licenses in Austria at a local or national level reserve the right to analyze applications within a maximum of 3 months. In practice, a decision in this regard is made after 3 months from the date of submission of documents for getting a business license in Austria. As such, the decision and the name of the person who received the license in question will be found on the Austrian Business License Information System platform.
Statistics about companies in Austria
We present some interesting statistics about the number of companies registered in Austria in various business sectors:
- An estimated number of 320,000 companies are active in Austria.
- Over 30.6% of all companies registered in Austria operate in the services sector.
- Around 22.4% of the number of companies incorporated in Austria are operational in the finance, insurance, and real estate sectors in this country.
In addition to assistance in obtaining a business license in Austria, our specialists can also help you in other endeavors. For example, you can choose the legal services offered by our immigration lawyers in Austria if you want to relocate. Moreover, even those already established can opt for our services if interested in citizenship in Austria. We are here for any kind of information, so do not hesitate to contact our law firm in Austria.