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In Austria, you don't need any capital at all, to start a EPU (One-Person-Company) which is really convenient.
by stdclass 10y ago
In Austria, you don't need any capital at all, to start a EPU (One-Person-Company) which is really convenient.
- chvid 10y agoSame in Denmark; you only need capital for certain kinds of limited liability companies.
- davidw 10y agoLimited Liability Companies are "real" companies that you need to do real things like take investments or take on other people as partners, without putting your other assets (houses, etc...) at risk. Unless you're doing something super simple, you don't want to mess around with a "single proprietorship" or the like.
- superuser2 10y agoIn most states you can freely run a business under your own name, and if you'd like a business name to be simply an alias for yourself (not a separate legal person) a Doing Business As arrangement is trivial, fast, and cheap. But the whole point of a company is limited liability, an entity which can own property, sue and be sued, etc. separately from its collection of owners.
- ZoF 10y agoYep, pretty much this, it's the limited liability you incorporate for.
- the_mitsuhiko 10y ago> In Austria, you don't need any capital at all, to start a EPU (One-Person-Company) which is really convenient. You can do that in any country. Austria sucks donkeyballs for staring an actual company however. You need 35.000 in capital and you need to involve a notary. The additional cost for actually getting the company in place is a few thousand euro, you need to listen to the notary read down the contract you made yourself and then you are subject to all sorts of utterly bizarre rules and regulations such as publishing your yearly report in a specific newspaper which charges you an arm and a leg for this privilege. Can we please fix this?
- davidw 10y agoHeh - your comment reminds me of one of my impressions of Austria, where we spent a couple years: "a lot of the same bureaucratic BS as Italy, just administered a lot more efficiently".
- the_mitsuhiko 10y agoI'm cautiously optimistic that things are going to change. The bureaucracy is efficient, no doubt there. However some of it just has no reason to exist and we all would be better off by getting rid of it.
- gioele 10y ago> Heh - your comment reminds me of one of my impressions of Austria, where we spent a couple years: "a lot of the same bureaucratic BS as Italy, just administered a lot more efficiently". German administration feels exactly the same. I have heard that situation being called "Prussian administration": slow and cumbersome to operate like a Prussian tank, efficient in its task like a Prussian tank. BTW, here is a Prussian tank: https://en.wikipedia.org/wiki/A7V#/media/File:A7v-wotan-diorama.jpg https://en.wikipedia.org/wiki/A7V#/media/File:A7v-wotan-dior...
- rwmj 10y agoIt seems incredible that you need such a lot of money. What is the justification given by politicians or those who support such a system?