ARTICLE · 03 OCTOBER 2022

Austrian Company Law Digitalisation Act 2022

Schoenherr (Schönherr Rechtsanwälte)

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The Austrian Company Law Digitalisation Act 2022 (Gesellschaftsrechtliches Digitalisierungsgesetz 2022) comes into force on 1 October 2022.

AustriaCorporate/Commercial Law

Niklas Kerschbaumer

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The Austrian Company Law Digitalisation Act 2022 (Gesellschaftsrechtliches Digitalisierungsgesetz 2022) comes into force on 1 October 2022. This law transposes parts of the so-called Digitalisation Directive of the European Union (Directive (EU) 2019/1151) regarding the use of digital tools and processes in company law into Austrian law.

The following aspects of the Austrian Company Law Digitalisation Act 2022 are noteworthy for the daily corporate and VC practices:

Five business days for registering new legal entities with the commercial register: courts have to decide on applications concerning the foundation of a legal entity or branch office as soon as possible. If the court cannot reach a decision within five business days, the applicant must be informed and the court has to provide a reason for the delay.

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Austrian Company Law Digitalisation Act 2022

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