The ISO code of Austria is AT according to the ISO 3166 standard. The local name of the country is Österreich. Austria capital city is Vienna. People in Austria speak the German language. On 12 November 1918, Austria emerged as a sovereign political entity. In the year 11/12/1918, 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 domain name .eu is available for use by organizations in and residents of European Union member-states. 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 83,871 km² (approx. 32,383 mi²). Austria is a landlocked country.
Austria is located in 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.
Demographics of Austria
The total population of Austria is 8,751,820 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 densely populated. The ethnic diversity is almost uniform according to a fractionalization scale which for Austria is 0.1068. Austria has approximately 1492374 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 majority 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 the 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, and it was located in Schwarzenbergplatz, Vienna. 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 to be a large nation because of its total area. Its total land area is 83,871 km² (approx. 32,383 mi²). Austria is located in Europe. Its capital city is Vienna. Austria has 8 neighbouring countries. Its neighbours include Czech Republic, Germany, Hungary, Italy, Liechtenstein, Slovakia, Slovenia, and Switzerland. Total length of land borders of Austria is 2524 kilometers (~975 miles).
The highest point of Austria is Großglockner, with its official height being 3798 m (12,461 ft). Including land mass and EEZ, the total area of Austria is approximately 83,871 km² (~32,383 mi²). 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 euro. The symbol used for this currency is €, and it is abbreviated as EUR. 5.5% of population in the country are unemployed. The total number of unemployed people in Austria is 481,350. 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 57.4% 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 61%, and the ratio of consumer spending to the world consumer market is 0.54. 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. VAT in Austria is 20%. To read more click on economy of Austria.
Infrastructure of Austria
Infrastructure quality in Austria is rated to be at 3.64. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.
In Austria, 100% of the population has access to electricity. There are 3,512,000 internet hosts in Austria. Austria has 52 airports nationwide.
The logistics performance index of Austria is 3.65. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.
Tracking possibilities for shipments are rated at 3.93. It indicates a good performance - the tracking systems provide detailed and up-to-date information about most of the parameters of shipments, as well as often transcend national (both political and linguisitc) barriers and may be qualified as international shipment tracking systems.
The number of road motor vehicles per 1000 inhabitants in Austria is 314. 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. Citizens in Austria experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The head of the government is Alexander Van der Bellen.
According to the World Bank Group, the government effectiveness index of Austria is 1.57. This indicates that the government of Austria is very effective. Citizens enjoy highly effective social, public, and civil services, and the overall morale in Austria is high. Government actions are efficient and expeditious, and dangerous situations are highly unlikely as a result.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. Overall, it is considered to be rather inadequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient. 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 14 December 1955, 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. 39600 km² of Austria's territory is covered in forests. and forest land comprises 47% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Austria is 314. 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.