Local and foreign entrepreneurs seeking to develop a business in Austria can choose from various segments of the economy. One option that rarely fails is to set up a company which sells or distributes fast-moving consumer goods (FMCG). Austria is one of the best performing economies in Europe, therefore selling this type of products will most likely prove to be a very lucrative business given the high purchase power of the Austrian population.
Our company formation agents in Austria can offer information on the regulations related to selling fast-moving consumer goods in this country.
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Most common FMCG products sold in Austria
The best part of opening a FMCG business in Austria is that it can distribute or sell a wide range of goods entering the FMCG category. These types of products have low prices and are easy to sell. According to the International Standard Industrial Classification, there are several categories of FMCG products. Among these, in Austria one can sell:
- – foodstuff;
- – cosmetics and toiletries;
- – alcoholic and non-alcoholic beverages;
- – electronic products with a short lifespan.
Tobacco is also considered a FMCG product and can be sold in Austria.
Our company registration advisors in Austria can assist those who want to open shops in which they can sell FMCG products.
Registration and licensing of FMCG companies in Austria
Investors deciding to create FMCG businesses in Austria must select one of the types of structures available and register them with the Companies Registrar. Following that, there are various types of licenses the company must obtain prior to distributing or selling the products. One of these licenses is the import license which must be obtained for FMCG goods brought into the country. However, local companies can also export FMCG goods, case in which they must apply for an export license.
Companies in Austria are required to observe the tax filing and payment deadlines, as well as the financial statement preparation and submission, as outlined in the Austrian Commercial Code. Proper bookkeeping is required, as the financial statements need to reflect an accurate status. Our accountants in Austria provide complete services for the preparation of the annual financial statements, but also other solutions for FMCG businesses.
A few facts on the FMCG industry in Austria
FMCG products in the foodstuff and cosmetics categories are the most sold products in Austria. In 2015, the value of the products sold by Austrian FMCG companies rose to close to 20 billion euros. Most of these goods went to other European countries, among which Slovakia and Romania.
If you want to open a FMCG business and need assistance, please contact our Austrian company formation consultants.