* plus share capital amounting to EUR 10.000,– or EUR 35.000,–
plus third party costs (notary, mandatory publication fees (Wiener Zeitung), commercial court fees)
* the initial share capital amounting to EUR 35.000,– or EUR 10.000,– has been paid to a trust account and is avaialable to the company for operative business. The existente of the funds will be confirmed during the selling process. After the transfer of shares has been registered with commercial courts the new managing director has to open a new bank account. In Austria banks will carry out a KYC compliance check before they can open a bank account. Often the personal presence of the managing director is required.