JD Supra Austria

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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).

• 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....

Featured documents

• Facebook Class Action Lawsuit in Austria

  A class action against Facebook has been filed in Vienna by privacy campaigner and Austrian law graduate Max Schrems, along with 25,000 other users of the social network site. The lawsuit alleges breaches of EU privacy law and mass surveillance. ...

• 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...

• Austria and Luxembourg Will Challenge Hinkley Point C State Aid

  Following an 11-month investigation into UK support for the Hinkley Point C nuclear project, the Commission approved a modified UK support package on 8 October 2014. Austria announced yesterday that it will launch its appeal on Monday 29 June challenging the Commission’s clearance decision...

• 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...

• Basics of Employment Law in Austria: Part I

  Austria, located in the heart of Central Europe, with a population of approximately 8.4 million people, is considered by many to be the ideal place for international employers to do business. It is one of the wealthiest, most politically stable and business friendly countries in Europe with booming ...

• 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 ...

• ICSID Claim Against Austria Puts Bilateral Investment Treaties Under Spotlight

  On 30 July 2015, the secretary general of the International Centre for Settlement of Investment Disputes (ICSID) registered a request to begin arbitration proceedings against the Republic of Austria. . The request was submitted by B.V. Belegging-Maatschappij Far East (Far East) and claims that the...

• 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"...

• The Meritas Guide to Employment Law On A Business Sale in Europe, Middle East and Africa - April 2015: Austria (Updated)

  1. DO EMPLOYEES AUTOMATICALLY TRANSFER TO THE BUYER WHEN A BUSINESS IS SOLD? In Austria, all labour law questions concerning the transfer of business are ruled by the Arbeitsvertragsrecht- Anpassungsgesetz (AVRAG), EU Regulations 77/187/EWG and RL 98/50/EG and the Arbeitsverfassungsgesetz (ArbV...

• 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 ...