JD Supra Austria

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

Publisher

Latest documents

  • 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).

  • Buying and Selling Real Estate in Austria (Updated)

    Key Facts of Real Estate Acquisitions Under Austrian Law - I. Introduction - 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.

  • 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.

Featured documents

  • Another Bombshell in Munich—Bavarian Government Sold Looted Art to Nazi Families

    Works returned by Monuments Men to Bavaria for restitution to victims instead sold to Nazis’ families - Journalists Catrin Lorch Jörg Häntzschel published this weekend an explosive revelation in Sueddeutsche Zeitung entitled “the Munich Looted Art Bazaar,” supported by the work of the...

  • Austrian Supreme Court Refers Schrems Consumer Class Action to ECJ

    Just under a year ago today, the European Court of Justice (ECJ) issued its Schrems decision, which invalidated Safe Harbor and led to substantial developments in US-EU data-transfer mechanisms. In parallel to the ECJ Safe Harbor litigation, Mr. Schrems has maintained two further legal proceedings ...

  • Consultation paper on the Banking Executive Accountability Regime

    Further to our alert in May 2017, the Government has now released a Consultation Paper on the Banking Executive Accountability Regime (the Regime). We have summarised the key details of the Regime below......

  • ECJ judgment in Austria Asphalt smooths over a crack in EU merger control

    The creation of a joint venture from a company which was previously solely controlled by one parent is only subject to EU merger control where it is a "full function" joint venture. So ruled the European Court of Justice (ECJ) on 7 September 2017 in Austria Asphalt v Bundeskartellanwalt (Case C-248/...

  • Uptick in Australian Data Breach Notifications

    Following in the footsteps of numerous countries, including the United States, and the European Union, Australia enacted a mandatory data breach notification law earlier this year. The Notifiable Data Breach (NDB) Scheme under Australia’s Privacy Act of 1988 went into effect on February 22, 2018....

  • Austrian Academy of Sciences Publishes English Version of Dossier on Nanotechnological Applications for Food Contact Materials

    In July 2018, the Institute of Technology Assessment of the Austrian Academy of Sciences published an English version of Dossier No. 49, “Nanotechnological Applications for Food Contact Materials.” The Dossier concludes that nanomaterials can significantly improve the properties of plastic...

  • Meritas Guide: To Defective Products Litigation in EMEA - Austria

    1. What claims may be brought for liability for defective products? Is liability based on fault/ negligence, or strict liability, or both? Defective product claims may be brought on a contractual basis, in case of negligence and/or under the Consumer Protection Act (“the Act”). The Act gives...

  • Austrian Data Protection Authority Finds No Claim for Specific Security Measures Under GDPR Article 32

    From time to time, data controllers are confronted with the question of whether data subjects can raise claims for specific security measures against the controller under Article 32 of the EU General Data Protection Regulation (GDPR). These measures can be costly and cumbersome for the controller....

  • FinTech solutions in Green Finance

    In order to deliver on the UN Sustainable Development Goals and the Paris Agreement on Climate Change, it is estimated that around USD 5-7 trillion of sustainable investment is required on an annual basis. The FinTech industry, with its technological agility and emphasis on innovation, has the...

  • Establishing A Business Entity In Austria

    1. Introduction - In Austria, any national citizen or foreign national is, in principle, allowed to establish a business. 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 ...

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT