All legal entities that are not exempt from the reporting requirement can submit their own returns electronically via the Federal Business Services portal or appoint a professional representative to identify, verify and declare beneficial owners. In the event of a situation of particular risk, an access restriction under Article 10a BORA may be requested directly from the registry authority by post or email to wiereg-registerbehoerde@bmf.gv.at. Please attach to the application a detailed justification and documents allowing the legitimate interest of the beneficial owner to be ascertained. Further information can be found in the FAQ under “Access restriction pursuant to BORA Art. 10a” The registration of the company becomes legally effective if all the conditions are met and the necessary documents are attached to the application. Trading can be done from the date of registration. The most common company formation in Austria is the limited liability company (GmbH). Legal person whose shareholders are not personally liable for the company, with the exception of the mandatory minimum capital contribution. The joint-stock company/cooperation is another joint business entity that has been established Under commercial law, legal persons and registered partnerships must appoint a managing director and inform the competent commercial authority of the place where the company operates. The GISA entry will be sent to you by mail.
If you have registered a company under Article 95, you will receive the decision required to manage the business by official registered letter (letter RSb). The GISA certificate will be sent to you by post. If you have filed a Section 95 transaction, the final administrative decision required to operate your business will be sent to you in a letter with acknowledgement of receipt (“RSb Letter”). In order to guarantee the data protection rights of data subjects, all data relating to queries and extracts are stored. Obliged entities are not entitled to unrestricted access, but may access their customers` data in the context of the application of due diligence measures to prevent money laundering and terrorist financing. Professional representatives may also have access to advice to their clients in identifying, verifying and reporting the beneficial owners of their clients. In addition, any person may, upon request to the registry authority, obtain information about the data stored about him or her in the register. Here you can enter the direct beneficial owners of the legal entity or edit entries from a previous report.
If persons who are not beneficial owners are automatically entered in the register, there is no obligation to correct the status of the register. However, the declaration may be voluntary. With the replacement of the commercial register by the commercial register in 1991, the general ledger data was transferred to an electronic database. Since then, all current and historical data (since 1991) have been available in electronic form. Since 2005, the collection of commercial register records has also been kept in electronic form. All legal entities subject to reporting obligations must declare their beneficial owners via the Business Services Portal (USP) or may be represented by members of the legal profession acting in a professional capacity. In addition to entries in the commercial register, many documents are kept in the documentary archives. These include the statutes of public limited companies, the annual financial statements of companies subject to the obligation to draw up financial statements and model signatures of representatives. A trust within the meaning of the BORA is a legal relationship established by a person (the settlor/settlor) through a legal transaction between living persons or by testamentary disposition in which assets are placed under the supervision of a trustee for the benefit of a beneficiary or for a specific purpose, the trust itself may also have legal capacity (§ 1 III WiEReG). Extracts from the commercial register (from the main register) and documents (from the documentary archive) can be extracted from the commercial register database. Documents made available to a legal entity can be displayed in the list of documents.
The request for data in the commercial register database is subject to a fee, with the exception of free summary information containing the most important details of a legal entity. Any request for data protection is mainly governed by the provisions of the judicial procedure of the commercial register (cf. § 84 of the Act on the organisation of courts). To do this, tick the box “Report on natural persons belonging to the level of the general management of the company” on the declaration form under the tab “Legal persons” and under the heading “Secondary report at management level pursuant to Art. 2 n° 1 bed. b BORA » If a company is registered by a legal person or partnership, The notification of the appointment of an appropriate managing director must be made with the following documents: In principle, applications must be submitted to the commercial register in writing and the signatures of the applicants must usually be notarized or certified by the court. Until now, only data on legitimate company owners and foundation boards could be consulted via the commercial register. Information on beneficial ownership, which is essential for the prevention of money laundering and terrorist financing, has not yet been collected separately. Beneficial owners are the persons to whom a company, foundation or trust can ultimately be transferred economically. The identification of beneficial owners aims to make it more difficult for criminal persons and organizations to participate in real economic life with assets obtained by criminals. Anyone can access the commercial register database for information on entries in the register.
The master register and document archive are accessible. When registering without a form, the following information must be provided: The page of the registration form for “legal persons” contains a point on the exemption from the registration requirement. If there is an exemption from reporting, the system automatically detects it and notifies you. The legal entity may decide whether or not to waive the exemption from registration. If the exemption from registration is not lifted, the answer is “No”. If the registration exemption is lifted, this can be confirmed by selecting “Yes”. In this case, additional pages of the form open and beneficial owners can be reported. In order to reduce the administrative burden, a derogation from the reporting obligation has been provided for cases where data can be transferred automatically from other registers, such as the commercial register.