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Austria

The ISO code of Austria is AT according to ISO 3166 standard. The local name of the country is Österreich. Vienna is the capital city of Austria. The official language of Austria is German. On 12 November 1918, Austria emerged as a sovereign political entity. The largest cities in Austria are Vienna, Graz, Linz, Salzburg.

Austria is located in the UTC +01:00 time zone, which is also called Central European Time or CET. The internet country code top-level domain (ccTLD) for Austria is .at. Other domains assigned to Austria are .eu. The International dialing code for Austria is +43. People in Austria drive on the right side of the road. Total land area of Austria is 83 879 km2. Austria is a landlocked country.

Austria is located in the western part of Europe. Austria is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.

Currently Austria faces various issues including some forest degradation caused by air and soil pollution, soil pollution results from the use of agricultural chemicals, air pollution results from emissions by coal- and oil-fired power stations and industrial plants and from trucks transiting Austria between northern and southern Europe.

Doing business in Austria

We offer various corporate services in Austria jurisdiction. These services can serve both, people coming from Austria and foreigners. If you plan on doing business in Austria you might be interested in contacting us.

To find out about starting your business in Austria click on company formation in Austria.

To find out how to open a bank account in Austria and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Austria.

Choose preferred service below or continue reading to find out more about Austria.

Company formation Bank account (Corporate) Available banks Bank account (Private)

Demographics of Austria

The total population of Austria is 8 623 073 people. In Austria, the population density is 101.4 people per square kilometer (264 per square mile). Because of this statistic, this country is considered to be crowded. The ethnic diversity is almost uniform according to a fractionalization scale which for Austria is 0.1068. Austria has 1 333 807 million foreign immigrants. The median age is approximately 44.3 years. In Austria, 81 in every 100 people use internet. Austria has a Human Development Index (HDI) of 0.881.

The main religion of Austria is Christianity. Austria is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Austria.

Culture of Austria

People in Austria speak German language. According to data on inbound tourists in Austria, 24 813 000 tourists arrive in the country each year. The first McDonalds in Austria was opened on 21 July 1977 One of the most popular national dishes of Austria is wiener schnitzel. To read more click on culture of Austria.

Geography of Austria

Austria is considered a mid-sized nation because of its total area. Its total land area is 83 879 km2 (approx. 32,386 mi2). Austria is located in the western part of Europe. Its capital city is Vienna. Austria has 8 neighbouring countries. Its neighbours include Czech Republic, Germany, Hungary, Italy, Liechtenstein, Slovakia, Slovenia, Switzerland. Total length of land borders of Austria is 2562,00 kilometers (~1,592 miles).

The highest point of Austria is Großglockner with its official height being 3798 m (12,461 ft). The most notable natural resources found in Austria are oil, coal, lignite, timber, iron ore, copper, zinc, antimony, magnesite, tungsten, graphite, salt, hydropower. To read more click on geography of Austria.

Economy of Austria

The currency of the country is European euro. The symbol used for this currency is €, and it is abbreviated as EUR. 6% of population in the country are unemployed. The total number of unemployed people in Austria is 491 515. Each year, Austria exports around $165.6 billion and imports roughly $167.9 billion. The Gini Index of the country is 26.3. Austria has a Human Development Index (HDI) of 0.881. The Global Peace Index (GPI) for Austria is 1.198. Austria has a government debt of 75% of the country's Gross Domestic Product (GDP), as assessed in 2012. Austria is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are construction, machinery, vehicles and parts, food, metals, chemicals, lumber and wood, paper and paperboard, communications equipment, tourism.

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Austria is $ 402 billion. Each year, consumers spend around $230 783 million. The ratio of consumer spending to GDP in Austria is 54%, and the ratio of consumer spending to the world consumer market is 1%. The corporate tax in Austria is set at 25%. Personal income tax ranges from 0% to 50%, depending on your specific situation and income level. To read more click on economy of Austria.

Infrastructure of Austria

Infrastructure quality in Austria is rated to be at 3.64. In Austria, 100% of the population has access to electricity. There are 3 512 000 internet hosts in Austria. Austria has 52,00 airports nationwide. The logistics performance index of Austria is 3.65. Tracking possibilities for shipments are rated at 3.93. To read more click on infrastructure of Austria.

Politics of Austria

Austria is a federal semi-presidential republic. With regard to political and civil freedoms, Austria is 1. The head of the government is Heinz Fischer.

According to the World Bank Group, the government effectiveness index of Austria is 1.57. In Austria, the legislative power is vested in a parliament. The Global Peace Index (GPI) for Austria is 1.198. The strength of legal rights index for Austria is 5. Austria is a member of the United Nations (UN). On 14 December 1955, it joined the UN as a full member state. Austria is a member of the European Union (EU). On 1 January 1995, it joined the EU as a full member state. Austria is a member of the World Bank. To read more click on politics of Austria.

Environment of Austria

Austria emits 7.8 metric tons per capita of CO2. 39 600 km2 of Austria's territory is covered in forests, and forest land comprises 47% of all the land in the country. To read more click on environment of Austria.

Company formation in Austria

The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Austria.

When establishing a company in Austria, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Austria that will affect the establishment and growth of one's business. Contact us or click on company formation in Austria to read additional information when setting up a business.

Bank account opening in Austria

With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Austria. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.

When considering opening a bank account in Austria, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Austria or contact us.