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+An [agency company](https://www.confiduss.com/en/services/solutions/corporate/agency-structure/) is a company that has entered into an agreement with an offshore company (the principal) to act as an agent. The agency company itself does not carry out any business activities in Austria, but receives income from the agency commission.
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+**Austrian companies
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+The GmbH (limited liability company) is the most popular form of company formation in Austria, both domestically and abroad. The following information describes the process of forming such a company:
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+Statutory share capital
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+The legal share capital of an Austrian GmbH is €35,000, of which at least €17,500 must be paid in cash.
+Directors & Shareholders
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+The company can be established with only one shareholder, regardless of whether the shareholder is a domestic or foreign natural or legal person. The managing director of the GmbH is the only legally authorized shareholder of the GmbH and is personally liable for liabilities from legal transactions carried out on behalf of the GmbH, as well as for unpaid taxes.
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+Corporate tax
+The corporation tax rate in Austria is 25%. In addition, there is a minimum tax amount that Austrian companies have to pay and currently amounts to EUR 1,750 per year, divided into four quarterly payments. These payments are due on February 15th, May 17th, August 16th and November 15th respectively.
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+Basics of the agency structure
+At all stages, under the terms of the agency agreement, the agency company conducts business on behalf of the client, which may be a company based in a tax haven. Business transactions are processed through the Austrian company (which is allowed to trade with EU and non-EU companies subject to VAT) and the proceeds are credited to their bank account. After deduction of a commission, the capital amount is transferred to the account of the actual seller (e.g. the EU company). Agency commission can be set at 2%, 5% or even higher and is typically paid annually. The Austrian company will declare the commission received as income taxable in Austria.
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