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Austria

Winding up

Updated 01/2013

Legal requirements

The key national laws for winding up businesses in Austria are:

Types of closure

Voluntary winding up

An entrepreneur who decides that he/she wishes to discontinue operating as a sole proprietor can do so by winding up the business. A company can be dissolved by means of a shareholders’ resolution.

When filing for bankruptcy is the only option left for a business owner, it pays to cut losses, initiate proceedings sooner rather than later, and move on to a new business project.

Administrative procedures

De-registration

Notification of discontinuation of business

The procedures for reporting the closure of a business are the same for individual enterprises and for corporations, unless it is necessary to delete the entry in the Commercial Register.

The district authorities or magistrate must be informed of the cancellation of the business licence. The entry in the business register can only be deleted once this has been done.

Individual enterprises that are entered in the Commercial Register must apply to the relevant Commercial Register authority to have the entry deleted.

The dissolution of a company is divided into two steps. These are the shareholders’ resolution to dissolve the business and the final closure once the relevant Commercial Register authority has been informed again.

Notification of the social security authority

The business authorities always inform the social security authority for industry about the cancellation of a business licence.

Notification of the fiscal authorities

If the business activities of a corporation are terminated for any reason, this must be reported to the fiscal authorities.

Other procedures

An employee whose employment with a business has come to an end must fill in a de-registration form to de-register from the respective regional health fund.

Resources

Useful information for people living and working in Austria is available from HELP, the Austrian government help service or the Business Service Portal USP.

Help & advice

Help & advice

The Business Start-Up Service of the Austrian Federal Economic Chamber provides support for founders, successors and franchisees.

It is advisable in all cases involving the closure of a business to seek the advice of a notary or a lawyer.

The WIFI enterprise service is the coordination centre of the national enterprise network (UNS) of the Austrian Federal Economic Chamber.

E-mail a business organisation near you

The EU runs a network (Enterprise Europe Network) of local business organisations in most European countries that may be able to help you.

Choose your country and town and enter your enquiry below.

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