Foreign investors interested in starting a business in Austria can choose the gaming sector as it can offer good returns on investment. It is also one of the best regulated industries in Austria. Gaming falls under the Law on Game of Chances which was enabled in 1989 and amended various times since, the last update of the law being related to the introduction of several EU directives in it.
Foreign investors can obtain more information on the Gaming Law from our company registration consultants in Austria.
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Company registration in the gambling industry in Austria
There are various activities a gambling operator in Austria can offer. Among these, we remind the following:
- – lottery games;
- – poker games;
- – online casino games;
- – betting;
- – slot machines.
No matter the type of activities it will undertake, the operator must first register a company with the Trade Register and then apply for the gambling license. All gambling companies are subject to special share capital requirements which varies 22 million and 109 million euros, based on the activities carried out.
Our company formation agents in Austria can handle the preparation of the incorporation documents and their filing with the Companies Registrar.
Applying for a gaming license in Austria
One of the best parts of starting a gambling business in Austria is the fact that only one license needs to be obtained no matter the activities the operators will carry out. The Austrian company must obtain the license from the Ministry of Finance which also acts as a supervisory body of the gaming sector.
The documents to be filed when applying for a casino license are:
- – copies of all the documents stating the registration of the company;
- – a business plan which must cover 3 years of activity;
- – a certificate of solvency and other information on the bank accounts of the company;
- – a detailed description of the games to be operated by the company;
- – information on the platform the games will be provided from;
- – information about the software used for the games.
Also, all Austrian companies in the gaming sector must pay an application and a licensing fee. The validity period of a gambling license in Austria is 15 years.
Our accountants in Austria can give you complete information about the taxes applicable to a gambling business, as well as detailed information about the annual financial statements, how they are prepared and when they are submitted. Our accounting services include bookkeeping, payroll management, tax filing and payment, bank account reconciliation, cashflow management, and more.
For full information on the requirements related to starting a gaming business, please contact our Austrian company formation consultants.