An overview written by Andreas Edlinger (1.8.2013)
The legislature´s aim was to increase the number of formations of GmbHs by reducing the minimum share capital and the start-up costs.
Unlike Germany with its Limited Liability Entrepreneurial Company (Unternehmensgesellschaft haftungsbeschränkt), which is basically a light version of their GmbH, Austria decided not to create an additional (light) GmbH type, but to generally reduce the minimum share capital of GmbHs. Now it is not only possible to incorporate a new GmbH with a minimum share capital of merely EUR 10,000, but also to reduce the share capital of preexisting GmbHs to this amount. The legal changes mostly became effective as of July 1, 2013.
