Austria considers introducing new legal entity form 'Limited'
18 March 2021 - In line with a recently issued Governance Programme for 2020-2024, it is planned to implement a new legal entity form ‘Limited’. Currently there are no strictly outlined criteria for such, however, there are a few expected ones:
- Minimum share capital will vary from 5 to 10kEUR;
- The possibility to maintain share register at company’s books instead of shareholders’ registration within the Austria Business register;
- The possibility of incorporation an entity using documentation solely in English language;
- Expansion of minority shareholder rights.
Besides that, further acceleration and simplification is expected for business start-ups, an expansion of digitization in company law as well as possible reforms for AG and GmbH forms.