How to open a company in Austria
- Monday, October 21, 2019
When choosing a country to open a company in, there are multiple factors to consider. You need to think about the type of your own company and whether it matches a certain country. In this blog, we will give you all the information you need before you can open or expand your company in Austria!
It is important to focus enough on the strategy of your business and the choice of the right foreign business location to open your company in. Especially when you want to open a company in Austria, you need more than just a good product and the wish for corporate growth. A business plan is required to ensure that the initiative is successful and it offers the basis for convincing potential investors and keeping track of how things develop.
What are the pros and cons of doing business in Austria?
Vienna, as the capital city of Austria, is the biggest city in the country. Not only in terms of the number of inhabitants, but it also has a large cultural and political center. Several large organizations have located their headquarter in Vienna, for example, PEC, IAEA, and UNIDO. Therefore, the capital city of Austria offers the perfect location to open a company.
Before you open a company in Austria, it is important to realize that personal relationships are built up over a long period of time and therefore can have a significant influence on business success. It would be ideal to invest some time and research the Austrian business before actually entering the market, in order to establish the right relationships.
Build your network, before you need it
Open a company in Austria!
Prepare yourself before locating in Austria by making sure that you have a good market overview. A good market overview generally focuses on some crucial factors: the size of the market and the potential that the market has. It is a good idea to make sure that you are aware of the special features and particularities of the Austrian mentality and to take them into account when you plan to open a company in Austria. So what is typically Austrian when it comes to business life?
The business culture of Austrians
The Austrians are considered to be “gemütlich”, which entails that they are easy-going and not really hurried. This affects business life in the sense that Austrian business partners are less “deal focused” compared to Americans or Germans. When going out for dinner as business partners, they will talk about business when having dessert, after they have had some small talk.
Another characteristic of Austrians is that they are rather discrete, one should learn to read between the lines to recognize a “no” or “yes” even if it is not stated openly. Besides, negative developments are not often stated bluntly. Austrians are known for their punctuality when it comes to appointments, it is important to be on time and greet one another correctly.
What practical aspects are important?
Next to the business culture in Austria, it is also important to think about some more practical aspects that are involved when you want to open a company in Austria. Consider the Austrian Labor laws and commercial law. Besides, think about the taxes that you have to pay and the fact that companies in Austria require a statutory manager. In terms of your employees, ensure timely planning when hiring foreign employees.
Find the perfect office space in Austria
The most interesting city to open a company in Austria is definitely the capital city, Vienna. When you want to rent office space in Vienna, it is important to think about the needs of your company. For example, do you want to have office space in the city center of Vienna or is it required that a subway station is nearby?
Besides the location, it is also important to think about the services an office building has to offer you. Another aspect that should be taken into account is the accessibility of your office space. Is the office building easy to reach via public transport and what are the parking opportunities?
Not sure whether you want to open a company in Austria?
If you are still not sure which country you want to open a company in, we are also more than happy to help you find out which country suits you best. We can find the perfect office space for you in many European countries. Read the blogs about these other countries in the series ‘How to open a company in…’:
Are you already certain that you want to open a company in Austria?
If you want to open or expand your company in Austria, we are more than happy to help you with finding the perfect office space. Do you want some more information or did you already find your office space? Contact us if you want to open a company in Austria, our real estate consultants will help you find the perfect office space in Vienna!