If you are interested in doing business in the food field in a developed and attractive country, then opening a restaurant in Austria is suitable for you. The hospitality industry in the country boasts an economic growth of about 4.2 percent per year. The bulk of the hospitality industry in Austria is dominated by restaurants which comprise 88 percent of the sector’s revenue and at least 88 percent of employment.
The restaurant industry is booming thanks to the growing economy of Austria and decreasing of the unemployment rate. Value added tax for this industry is at a reduced rate of 10 percent. This means that restaurants can entertain more customers while paying lower taxes for the goods and services they provide. Investors in the food industry can expect a thriving business when they open a company in Austria.
Opening a restaurant in Austria requires a lot of planning and preparation. Our specialists in company incorporation in Austria can walk you through the process. One of the things you need to plan is the concept of your restaurant. You can either open a high-end restaurant for fine dining or one that offers casual dinner. You must also decide on the type of cuisine the restaurant offers.
Another factor to consider is the location of your restaurant. Austria has many commercial locations that are suitable for your business. Next, you must choose your business name. If you are looking to establish a restaurant in Austria, you can check for available business names with the Commercial Registry.
If you are looking to establish a branch in Austria, registration must be done also with the Commercial Registry. Before you start operations, you must secure licenses and permits. Operating license can be obtained at the Austrian District Commissioner or the Municipal Authority. An usage permit for your restaurant location can also be obtained from these entities.
Restaurants need to comply with the tax and annual reporting and submission requirements. Our Austrian accountants can answer any questions about your tax liabilities and tax requirements if you own a restaurant or plan on opening one in an Austrian city. We also offer bookkeeping services, payroll solutions, tax consultancy and tax planning services, and expert financial reports.
This is the law which regulates the food industry. Under the law, the Ministry of Health is given authority to impose rules and regulations related to food service and consumption in Austria. It is also in charge of monitoring and inspecting the safety of food consumption in restaurants through risk assessments.
The Ministry shall lay down certain criteria which the restaurant must meet in order to verify food safety. Examples of such criteria are the source of the food being served and how it is prepared.
Businessmen who are interested in the food industry must comply with these requirements, if they want to open a company in Austria.
If you need more information on how to open a restaurant, just get in touch with our specialists in company formation in Austria. We will help you with specific information and company incorporation services.
