Austria: abolishment of GmbH ‘light’
The amendments to Austria’s federal tax law (Abgabenänderungsgesetz 2014 — AbgÄG 2014), by which inter alia the Limited Liability Companies Act (GmbHG) is amended, were published (BGBl I 2014–13) on 28 February 2014 and came into force on 1 March 2014.
The minimum share capital of a limited liability company (GmbH), which had been reduced to €10,000 (£8,360) by the GesRÄG 2013 (BGBl I 2013/109) in 2013, has been raised again to the pre-GesRÄG 2013 level of €35,000. Out of the share capital to be contributed in cash, once again at least €17,500 — instead of the reduced amount of €5,000 under GesRÄG 2013 — must be paid in when founding the GmbH.
In order to keep the legal form of a GmbH attractive also for entrepreneurs with more limited financial resources, the newly introduced §10a GmbHG provides for a foundation privilege (Gründungsprivilegierung). Such privilege enables the founding of a GmbH with a ‘privileged’ amount of cash contributions (gründungsprivilegierte Stammeinlagen) of only €10,000, whereby an amount of €5,000 must be paid in. Contributions in kind are not possible in such case…
Click on the link below to read the rest of the Schoenherr briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Schoenherr
Briefings from Schoenherr
On 15 December 2014, the Hungarian Parliament voted for the Sunday closure of shops as of 15 March 2015.
A new law in Slovakia offers successful whistleblowers a bounty corresponding to 50 times the minimum wage.
Analysis from The Lawyer
Regulators are ramping up the pressure in the aftermath of recession, leaving firms to compete for compliance and restructuring work