Austria is renowned all over the world for its beautiful landscapes. Foreign investors interested in starting a business in the Austrian construction industry have plenty of choices in areas like commercial and residential real estate or even in the accommodation sectors. However, they will have to respect the country’s legislation and requirements when it comes to opening a construction company in Austria.
Our company formation agents in Austria can explain the rules and the legislation related to the construction industry and its branches.
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Registering the construction business in Austria
The Austrian company formation procedures must first be complied with no matter the industry one will activate in, including the construction sector. Both local and foreign investors will respect the same regulations related to choosing a type of structure and registering it with the Trade Register, prior to operating as a construction company in Austria.
Our company registration consultants in Austria can assist with the preparation and filing of the documentation related to registering a business in this country.
Special requirements in the construction industry in Austria
The main particularity of Austria is that it is divided into lands, each one with its own regulations when it comes to the laws related to building sites. Some municipalities will only require a construction company to file a notification with the city hall or the environmental agency in the respective city, while in other cases, a building permit must be requested, such is the case of construction businesses in Vienna.
Construction companies need to observe the applicable tax and reporting requirements. Each company is required to prepare annual financial statements, according to the Austrian Commercial Code. The rules set forth by law establish that these statements are to be prepared in euro. Our Austrian accountants can give you details about the accounting principles, the use of the International Financial Reporting Standards, and more.
Applying for a construction permit in Austria
When it comes to applying for a building permit, an Austrian construction company must follow the next steps:
- – apply for an industrial operating license;
- – obtain an approval for noise insulation;
- – obtain a professional’s on the structure of the building;
- – obtain an energy classification license;
- – obtain a license for connecting the building to the sewage and water lines;
- – apply for the title of ownership with the local Land Registrar.
After these steps are completed, the building permit will be released by the municipality. Also, the construction must begin within 4 years from the release of the permit.
For full information on how to start a construction company in Austria, please feel free to contact us.