Sole proprietorship (Austria)

A sole proprietorship in Austria is a company run by a natural person ( sole proprietor ). This person runs the company in their own name and for their own account and is subject to income tax . The sole proprietorship is liable for the business operations with all of his assets.

An entry in the commercial register is compulsory according to § 8 UGB for those sole proprietorships who are required to submit accounts according to § 189 UGB, which is the case from an annual turnover of 700,000 euros. Registration is voluntary for all other sole proprietorships. The sole proprietorships entered in the commercial register must include the legal form addition of registered entrepreneurs ( eU ) in their company in accordance with Section 19 (1) no .

In the area of trade regulations , all trades are open to sole proprietorships; After obtaining a trade license, an entry is made in the trade register . Certain activities are not permitted, for example the operation of a bank is forbidden to sole proprietorships by Section 19 (1) (1) of the Banking Act .