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How to choose the suitable legal form for your business to save time and money

Updated: Aug 6, 2022

Starting a business is no easy task. There are so many things to think about – the company name, the products or services you'll offer, the marketing strategy, and, of course, the finances. One of the most important decisions you'll make when starting your business is what legal form to choose. This decision can have a major impact on the success of your company, so it's crucial to get it right. In this blog post, we'll discuss some of the most common legal forms for businesses and explain why choosing the right one is so important.

The company structure has to serve you and not the other way around. So read on to learn more and make an informed decision!

General Partnership

The General Partnership is the first option in the list of the Austrian Legal Forms. To found a General Partnership you will need at least two partners. They can be individuals or legal entities. The process of founding a General Partnership is relatively simple. Together with your partner, you have to submit an application form for registration and verified samples of your signatures to the Commercial Register. The Partnership agreement doesn’t have to be publicly disclosed. As soon as the partnership is registered with the Commercial Register, it can be commercially active under Austrian Commercial law. The registration process takes approx. two weeks.

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