JD Supra Austria

Publisher:: JD Supra
Publication date:: 2019-04-29

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JD Supra (31)

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Latest documents

Buying and Selling Real Estate in Austria (Updated)
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER AUSTRIAN LAW - There are many considerations that a buyer/seller of real estates should make before buying or selling a property. The following article is intended to give a brief overview of the most important "Must-Knows" when selling or buying real estate in Austria. Please see full Chapter below for more information.
Establishing A Business Entity In Austria (Updated)
In principle any national citizen or foreign national is allowed to establish a business in Austria. A company is defined as a partnership of at least two persons (exceptions for limited liability companies and joint-stock companies), founded by a legal transaction, who want to achieve a certain purpose through organized cooperation. While one person is sufficient to establish a limited company (Kapitalgesellschaft), at least two persons are necessary to form a partnership entity (Personengesellschaft). A business operated by a single natural person with full personal liability (i.e. without any further partners or shareholders) is referred to as a sole proprietorship (Einzelunternehmen). If foreign business owners choose to establish a subsidiary in form of a limited company in Austria it is important to mention that the establishment is legally independent from the parent company meaning that the foreign parent company does not bear direct and unlimited liability for the subsidiary’s obligations. The corporate forms typically chosen for such subsidiaries are the limited liability company (GmbH) and the joint-stock company (AG). Additionally, there is the European Company (SE), which is seldom used. Please see full Chapter below for more information.
Does a Right to a Physical Hearing Exist in International Arbitration? - Austria Report
The Austrian Code of Civil Procedure (“ZPO”) contains a special part dedicated to arbitral proceedings (Sections 577 to 618 ZPO). This forms the Austrian lex arbitri. Section 598 ZPO provides that each party in arbitration has a right to an “oral hearing”: “Oral Hearings and Written Proceedings: Unless the parties have otherwise agreed, the arbitral tribunal shall decide whether to hold oral hearings, or whether the proceedings shall be conducted in writing. Where the parties have not excluded an oral hearing, the arbitral tribunal shall, upon motion of a party, hold an oral hearing at an appropriate stage of the proceedings”. Originally published by ICCA - March 2021. Please see full Report below for more information.
Establishing A Business Entity In Austria (Updated)
1. Introduction - In principle any national citizen or foreign national is allowed to establish a business in Austria. A company is defined as a partnership of at least two persons (exceptions for limited liability companies and joint-stock companies), founded by a legal transaction, who want to achieve a certain purpose through organized cooperation. While one person is sufficient to establish a limited company (Kapitalgesellschaft), at least two persons are necessary to form a partnership entity (Personengesellschaft). A business operated by a single natural person with full personal liability (i.e. without any further partners or shareholders) is referred to as a sole proprietorship (Einzelunternehmen). If foreign business owners choose to establish a subsidiary in form of a limited company in Austria it is important to mention that the establishment is legally independent from the parent company meaning that the foreign parent company does not bear direct and unlimited liability for the subsidiary’s obligations. The corporate forms typically chosen for such subsidiaries are the limited liability company (GmbH) and the joint-stock company (AG). Additionally, there is the European Company (SE), which is seldom used. Please see full Chapter below for more information.
Bankruptcy, Insolvency & Rehabilitation Proceedings in Austria
KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER AUSTRIAN LAW - 1. Introductory Remarks on Austria’s legal system - Austria has a civil law system, as opposed to the common law system of, e.g., the United States or the United Kingdom. Practically all law is codified in statutes. The most important statute in the field of civil law is the Austrian General Civil Code and in the field of commercial law it is the Austrian Code of Commerce. Austria is part of the EU. Currently there are still 28 member states of the EU. They have 28 distinct and often very different insolvency laws, i.e. the core of the insolvency law is still different from country to country. Please see full Chapter below for more information.
Austria: OK to Collect Workers’ Contact Info During Pandemic To Facilitate Efficient Communication
C The Austrian Data Protection Authority weighs in on Coronavirus and GDPR: •Employers may collect the personal contact information of employees for the purpose of efficient communication during the pandemic. This information may not be used for any other purpose and must be deleted after the pandemic is over...
Assessing the Potential of Austria’s New Government Coalition
After Austria’s government collapsed in May 2019, Austrian chancellor and leader of the conservative party ÖVP Sebastian Kurz was voted back into office in a snap election only 4 months later. Having previously formed a coalition with the country’s far-right wing party FPÖ, Kurz is now teaming up with the green party to form a new government. With awareness of the effects of climate change rising in Europe, the Austrian Greens were able to increase their votership almost fourfold in the 2019 snap election, allowing them to re-enter the Austrian parliament after their defeat during the 2017 legislative election....
Establishing A Business Entity In Austria (Updated)
1. Introduction - In principle any national citizen or foreign national is allowed to establish a business in Austria. A company is defined as a partnership of at least two persons (exceptions for limited liability companies and joint-stock companies), founded by a legal transaction, who want to achieve a certain purpose through organized cooperation. While one person is sufficient to establish a limited company (Kapitalgesellschaft), at least two persons are necessary to form a partnership entity (Personengesellschaft). A business operated by a single natural person with full personal liability (i.e. without any further partners or shareholders) is referred to as a sole proprietorship (Einzelunternehmen).... Please see full Chapter below for more information.
GDPR Guide to National Implementation: Austria - A practical guide to national GDPR compliance requirements across the EEA
Q1/ Applicable legislation - (a) Have the requirements of the GDPR been addressed by introducing a new law, or by updating existing legislation? Old legislation has been updated. ——— (b) Relevant legislation includes: Data Protection Act, Federal Law Gazette I Nr. 165/1999 (the "Data Protection Act"); amended to reflect GDPR requirements by two Data Protection Amendment Acts in 2018
Austrian Academy of Sciences Publishes NanoTrust Dossier on Nano Registries
The Institute of Technology Assessment of the Austrian Academy of Sciences has published a NanoTrust Dossier entitled “Nano-registries: Country-specific Solutions for Nano-regulation.” While the European Union (EU) has declined to create an EU-wide nano-registry, several EU Member States have adopted their own nano-registries.