Austrian Economic Legal Issues and Insolvencies

Jewish Museum Vienna: Restitution to Ephrussi Family after Decades

The Jewish Museum Vienna has restituted the Franz Adam painting “Camp Scene from 1848 in Italy” to the Ephrussi family. Following the authorization by Defense Minister Klaudia Tanner, ownership of the painting was returned to the heirs of Viktor Ephrussi. The painting was in the Museum of Military History in Vienna after being confiscated from Viktor Ephrussi by the Nazis. Read more about the painting's history and its restitution to the Ephrussi family.

September 14, 2021

Women on the Boards of Austrian Listed Companies: Only 14 out of 192

A study shows that women are still significantly underrepresented on the boards of Austrian companies on the Vienna Stock Exchange. The number of female board members in Austria's listed companies has decreased by one woman compared to the beginning of 2021, leaving the total at 14 out of 192. Read more about the details of the study.

September 6, 2021

Wirecard Scandal: Marsalek Confidant Arrested in Singapore

A close confidant of the Austrian-born former Wirecard board member Jan Marsalek, who is wanted on an international arrest warrant, has been arrested in Singapore. Briton Henry O'Sullivan is considered a close confidant of Marsalek and plays an alleged key figure in the multi-billion Wirecard fraud scandal.

September 1, 2021

ÖBAG: Attorney Edith Hlawati to Succeed Thomas Schmid

The Supervisory Board of Österreichische Beteiligungs AG (ÖBAG) has appointed the internationally recognized business lawyer Dr. Edith Hlawati as the new Chief Executive Officer of ÖBAG. She will succeed Thomas Schmid and take over the management of the state holding on 1 February 2022. Learn more about her and the selection process.

August 30, 2021

Austria's Ex-Vice Chancellor Strache Found Guilty of Corruption

Former vice chancellor and the ex-head of the Austrian Freedom Party (FPÖ) Heinz-Christian Strache has been sentenced to 15 months' conditional imprisonment for bribery at Vienna's regional court. The co-defendant and owner of the private clinic in Vienna-Währing, Walter Grubmüller, was sentenced to twelve months for bribery, also on probation.

August 27, 2021

Latest Corona Update: The Austrian Green Passport - What Is It For?

The Green Passport is now being used by many people to provide proof of vaccination, recovery, or a negative test for COVID-19 in Austria and throughout the EU. Learn more about what the "Green Passport" is and what it is used for.

August 17, 2021

The New Austrian Identity Card: Modern and Forgery-proof

Experts from the Austrian Ministry of the Interior, Federal Criminal Police Office, and Austrian State Printing House have developed a modern and more secure identity card. The release of the cards is accompanied by a new mobile phone app that allows users to verify the authenticity of the new cards.

August 6, 2021

City of Vienna and Vienna Business Agency Create New Business Immigration Office

The Vienna Business Agency and Vienna City Government have partnered to create the Business Immigration Office (BIO). The BIO will help streamline residence permit and immigration issues and offer help with integration for key personnel and highly skilled workers.

July 15, 2021

UK to End Quarantine for People Vaccinated in the UK Returning from Austria

United Kingdom Prime Minister Boris Johnson announced that the government would begin easing COVID-19 restrictions for England on 19 July. People vaccinated in the UK will no longer be required to quarantine when returning from "Amber List" countries like Austria. Read more about this and what else the PM said will change.

July 13, 2021

Latest Travel Restrictions Between the United Kindom and Austria

There are still travel warnings regarding travel between the United Kingdom and Austria due to the spread of COVID-19 variants. Germany and some other EU countries are loosening restrictions on vaccinated Britons, but travelers should still expect to quarantine when traveling from Austria to the UK. Learn more about the latest travel restrictions between the two countries.

July 12, 2021

Arab Ambassadors in Vienna and Economic Relations between their Countries and Austria

The Ambassadors from Egypt, Iraq, Jordan, Morocco, Oman, Palestine, Qatar, Tunisia, and the UAE to Austria provided an economic overview of their countries and their relationship with Austria in an online forum with the Austro-Arab Chamber of Commerce (AACC).

July 11, 2021

Handy-Signatur in Austria: What It Is and How to Get It

The Handy-Signatur is an important tool to have in Austria. It is useful for accessing many online portals, including health insurance and the new Green Pass for proof of COVID-19 vaccination. Learn more about it.

July 8, 2021

EU Commission Takes Legal Action Against Austria

The European Commission has taken legal action against Austria and other Member States that fail to comply with EU law. In the case of Austria, several allegations have been put forward. Read more about them below.

June 11, 2021

Tikhanovskaya and Kurz: Targeted Sanctions for Belarus Needed

Svetlana Tikhanovskaya, Belarusian opposition leader, and Austria's Chancellor Sebastian Kurz held a video conference to discuss the current developments in Belarus. Read more about possible sanctions below.

June 2, 2021

Liechtenstein's Prime Minister Met Kurz and Blümel in Vienna

The new Prime Minister of Liechtenstein, Daniel Risch, came to Vienna for a working meeting with Austria's Chancellor Sebastian Kurz and Finance Minister Gernot Blümel. On the agenda of the talks was the management of the Covid-19 pandemic, in particular the border management, and digital taxes.

April 30, 2021

Extension of Re-Employment Promise in Austria Gives Planning Security

In order to alleviate the hard-hit tourism industry, Austria's Labor Minister Martin Kocher and Tourism Minister Elisabeth Köstinger have announced to further extend the re-employment promise until the end of official closures. This gives the respective businesses more planning security, since they will not have to worry about their well-trained employees.

March 31, 2021

Austria Joins European Financial Reporting Advisory Group

According to Austria's Finance Minister Gernot Blümel, Austria's accession to the European Financial Reporting Advisory Group (EFRAG) strengthens Austria's interests at the international level and allows for a more active role in European and international standard setting in financial reporting.

March 29, 2021

Vienna - Salzburg: Frequent Intervals Will Be Maintained

The important rail connection between Vienna and Salzburg will keep having regular intervals due to an emergency award by the Austrian Ministry of Climate Protection. The ministry will continue to order trains from the Austrian Railways (ÖBB) and Westbahn in order to assure a frequent rail connection until April 7.

February 15, 2021

Slovenia's Foreign Minister and State Secretary Met Edtstadler

Slovenia's Foreign Minister Anže Logar and State Secretary Gasper Dovžan met with Austria's Minister for European Affairs Karoline Edtstadler in Ljubljana to discuss about a possible European vaccination certificate, EU enlargement and about the future of the European Union.

February 8, 2021

WKO Heads: Easing of Lockdown Was Necessary

Both, the Austrian Federal Chamber of Commerce's (WKO) President, Harald Mahrer, and Secretary General, Karlheinz Kopf, are pleased by the government's decision to open the retail sector and body-related service providers again. They furthermore demand a clear perspective for industries that are yet to be opened.

February 4, 2021

Blümel: EU's Raise of State Aid is Necessary Step

The European Commission has extended its framework for state aid to support companies that are affected by Covid-19. In addition to the extension, the current thresholds have been raised, which was a highly necessary decision according to Austria's Finance Minister Gernot Blümel.

January 29, 2021

WKO: Lockdown Extension a "Blow For Domestic Trade"

Once again the Austria's Federal Chamber of Commerce (WKO) does not entirely support the federal government in its decision to extend the lockdown and cancel the opportunity to escape the lockdown with a negative Covid-19 test. The WKO demands plans for the affected companies and aid for the suppliers indirectly affected by the crisis.

January 5, 2021

Legal Certainty for British in Austria

Austria gives Britons in Austria legal certainty with regard to residence. Although the United Kingdom left the European Union at the beginning of this year, the European Union and many member countries for themselves have ensured a smooth transitions for British citizens currently residing in EU countries.

December 22, 2020

North Macedonia's Foreign Minister Visited Schallenberg

North Macedonia's Foreign Minister Osmani visited Vienna and met his Austrian counterpart Schallenberg to discuss the ongoing EU accession process of his country and the Covid-19 pandemic. Both parties are eager to start negotiations about the accession as soon as possible.

December 21, 2020

Czech President of the Parliament Met Sobotka

The Czech and Austrian Presidents of the Parliaments, Vondráček and Sobotka, met virtually to discuss the experiences of the pandemic and EU topics, such as the accession talks with North Macedonia and Albania, the EU's financial framework and the EU budget negotiations.

December 1, 2020 · Updated: December 21, 2020; 10:55

ECJ Bans Exhaust Software: Anschober and Gewessler Demand Changes

The European Court of Justice has decided to ban software used to embellish exhaust emission values in diesel cars. Austria's Climate Protection Minister Gewessler and Consumer Protection Minister Anschober hope for a move by the car manufacturers in order to provide retrofits and compensate injured consumers.

December 17, 2020

New European Climate Target: Kurz and Gewessler Delilghted

The European Council has agreed on a new climate target for 2030. The member states want to decrease annual greenhouse gas emissions by at least 55 percent and also take other steps on their path to climate neutrality until 2050. Austria's Chancellor Kurz and Minister Gewessler are pleased with the agreement.

December 11, 2020

WKO and IV: Need for "Climate Protection with Common Sense"

The heads of the Austrian Federal Chamber of Commerce (WKO) and the Federation of Austrian Industries (IV) demand appropriate framework conditions for climate-friendly behavior instead of the race for ever higher climate targets. Both Secretary Generals want "climate protection with common sense".

December 10, 2020

Selmayr: Member States Need To Decide on Skiing at Christmas

The recent debate about skiing during the Christmas holidays will need to be regulated on a national level, according to the Head of the Representation of the European Commission in Austria, Martin Selmayr. Selmayr states that the EU has neither the obligation nor the expertise to impose any EU wide rules in this matter.

November 25, 2020

Edtstadler: "No Understanding" for EU Budget Veto of Poland and Hungary

Hungary and Poland refused to agree on the EU's financial framework for the next seven years. Austria's Minister Edtstadler as well as her German counterparts do not understand Hungary's and Poland's veto and demand a clear resolution of any blockades that delay the distribution of important Covid-19 aid measures.

November 24, 2020

WKO: Thoughts About Opening Stores on Sundays

The President of the Austrian Federal Chamber of Commerce (WKO) has expressed his thoughts about a possible opening of stores on Sundays before Christmas. This would create the opportunity for companies to equalize customer flows which they have missed out on during the ongoing lockdown.

November 24, 2020

European Commission Approves Second Fixed Cost Subsidy

The European Commission has approved Austria's request to grant further subsidies to companies particularly impacted by the ongoing pandemic. The so-called Fixed Cost Subsidy II could cover up to 70 percent of the uncovered fixed costs and up to EUR 3 million.

November 23, 2020

Ambassador Turner Met Governor of Carinthia

British Ambassador to Austria met Carinthia's Governor Kaiser to discuss the current Covid-19 situation in Austria and also the Brexit negotiations that are in the decisive stage. Turner hopes that the registration of British citizens following the Brexit will be easy and unbureaucratic.

November 12, 2020

European Commission Launches Initiatives Against Gender Pay Gap

With regards to the European Day of Equal pay, the day from which women will symbolically no longer be paid for the same work compared to their male colleagues until the end of the year, the European Commission has launched initiatives to tackle the persistent gender pay gap.

November 12, 2020

Turnover Compensation For Impacted Companies

The Austrian Ministry of Finance has issued another instrument to offset negative consequences of the second lockdown for the economy. Impacted businesses will be compensated for 80 percent of their turnover with an allegedly unbureaucratic and fast process that should help companies as uncomplicated as possible.

November 6, 2020

Second Coronavirus Lockdown: Which Rules Apply for your Business in Austria?

The exponential increase of the Austrian COVID-19 infection numbers has made drastic measures necessary. On November 3, 2020, the new COVID-19 Protection Measures Ordinance will come into force and remain in force until at least November 30, 2020. In order to cushion the economic impact, short-time working will be upgraded and loss of sales compensated. The new rules and economic measures for the gastronomy, tour operator, tourism and leisure industry can be found below.

November 2, 2020 · Updated: November 6, 2020; 10:13

European Economic and Social Committee: Austrian Christa Schweng is New Head

The Austrian politician Christ Schweng is the new head of the European Economic and Social Committee (EESC). She is only the fifth woman to head the EU institution and will be in this position for the two and a half years. Her main goals for this period include to "make a decisive contribution to Europe's recovery and future resilience" with regard to the current crisis.

October 28, 2020

Italian Interior Minister Met Nehammer

Italian Interior Minister Lamorgese welcomed her Austrian counterpart Nehammer for a working meeting in Rome. The main discussion topics were the fight against organized crime and illegal trafficking as well as strengthening repatriation agreements with third countries.

October 27, 2020

Border Controls with Slovenia and Hungary Will be Extended

The border controls between the Slovenian-Austrian and Hungarian-Austrian border will be extended once again. Austria's Interior Minister Nehammer cited as reasons the "continuing migration pressure, maintenance of internal security and the tense situation surrounding the Covid-19 pandemic".

October 14, 2020

Minister President of Bavaria Meets Kurz: "Borders Need To Stay Open"

Both, the Minister President of Bavaria Markus Söder as well as Austrian Chancellor Kurz, agreed on the fact that the borders between Germany and Austria need to stay open despite an increasing numbers of Covid-19 cases in both countries.

October 9, 2020

Schramböck: "Every New Infection Is a Potential Danger for the Business Location"

Federal Minister for Economic Affairs Schramböck empasizes the importance of low infection rates for the business location. She demands more rigid measures for Vienna, which is currently the Covid-19 hotspot in Austria.

October 5, 2020

Launch of the European Month for Cyber Security 2020

A joint information campaign of Europol and its partners will once again host the European Month for Cyber Security. This event should help the prevention of cyber crime by raising awareness and providing information to individuals and organizations.

October 2, 2020

EU Special Summit Deals with Foreign Policy Issues

The EU government heads have come together to discuss foreign policy issues in Brussels. Chancellor Kurz is representing Austria at the meeting and has already met with Council President Michel, EU Foreign Affairs Commissioner Borrell and Commission President von der Leyen.

October 1, 2020

European Commission Publishes First Report on Rule of Law

The European Commission has published its first report on the rule of law among member countries. Although the European Union requires high standards, there are still some procedures that need revision in order to assure independency and proper democratic systems. Even Austria has some catching up to do.

October 1, 2020

European Commission Approves Further EUR 4 Billion for Austrian Companies

Further EUR 4 billion intended to help Austrian companies sustain the Covid-19 crisis were approved by the European Commission. Grants and guarantees of up to EUR 800,000 per company can be given out in cases of hardship and danger of bankruptcy.

September 22, 2020

Swiss President Welcomes Kurz

Swiss President Sommaruga and Austria's Chancellor Kurz met near Bern to discuss current topics related to the Covid-19 pandemic and the cooperation between the two countries. Kurz also met with CEOs of leading Swiss pharmaceutical companies to discuss the current vaccine developments.

September 21, 2020

Environmental Support Act: 1 Billion for Climate Protection Support until 2022

The National Council is in favor of a budget increase dedicated to climate protection. In detail, the Environment Committee wants to raise the amount of funding to EUR 1 billion by 2022 which will be invested in biogenic heating networks, renovation of buildings and other measures.

September 17, 2020

Foreign Ministers of Central Five Meet in Slovenia

The heads of diplomacy of Slovenia, Slovakia, the Czech Republic and Austria conducted a working meeting with the topics being the fight against a possible second wave of rising Covid-19 cases and other foreign affairs issues.

September 16, 2020

Suspension of Restrictions Between Hungary and Austria

Hungary has lifted the 30-kilometer and 24-hour restrictions for commuters from Austria. This makes cross-border life and business significantly easier and allows the trading relationship between the two countries to flourish again.

September 14, 2020

U.S. Embassy Vienna Explains Covid-19 Checks Received by Austrians

U.S. Ambassador Traina has issued a statement on the stimulus checks received by a number of Austrians. The Embassy will look into this matter and will update the public about any findings.

September 11, 2020