Austrian Economic Legal Issues and Insolvencies

Read the latest headlines about laws, jurisdictions and court decisions in Vienna and Austria with reference to the international interest

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

EU Puts a Hold on Austria's Fixed Cost Subsidies

The European Commission has questioned Austria's newly introduced fixed cost subsidy to the surprise of many Austrian politicians and experts. Companies in the sectors tourism and export were predominantly planned to be subsidized.

September 9, 2020

Joint Statement by Greece and Austria

Greek Prime Minister Mitsotakis and Austrian Chancellor Kurz have issued a joint statement that deals with European refugee policy and the ongoing dispute with Turkey over the natural gas deposit in the Mediterranean.

September 9, 2020

Climate Protection Minister Presents Measures Against Plastic Flood

Climate Protection Minister Gewessler announces a three-point plan to tackle Austria's plastic waste. These measures include a deposit system, a producer's levy and a reusable quota.

September 7, 2020

WKO Secretary General: Labor Market Situation Improves, But Remains Great Challenge

The secretary general of Austria's Federal Chamber of Commerce WKO recognizes a slightly positive trend in the labor market but underlines the importance of ongoing and future economic measures.

September 7, 2020

Climate and Energy Goals: Additional Measures Will Be Needed for Austria

Austria's Ministry for Climate Protection recognizes the need for additional protective measures in order to meet the climate targets established by the European Union. An increases of investments in sustainable ideas is demanded.

September 3, 2020

Austrian "Hate in the Net" Draft Law Takes Online Platform in Responsibility

The draft law against "Hate in the Net" obliges online platforms to introduce an effective reporting procedure and to delete unlawful content immediately. The third major point is the issue of a contact person including an address.

September 3, 2020

Schallenberg: "The EU Has Reached a Turning Point in the Relations With Turkey"

Austria's Foreign Minister Schallenberg explains the current relationship between the European Union and Turkey. The recent developments in the easter Mediterranean are testing the relation once again.

September 1, 2020

German-Speaking Finance Ministers Met in Vienna

Vienna hosted the tenth informal meeting of the German-speaking finance ministers. Representatives of Germany, Liechtenstein, Luxembourg, Switzerland and Austria took part in discussions about Covid-19 and the future of taxes.

August 28, 2020

After Discussions in Austria: IHS and WIFO Against Statutory Reduction of Working Hours

Austrian economic research institutes IHS and WIFO are both against a reduction of working hours. According to the experts, training and retraining for the unemployed would be better approaches.

August 26, 2020

Austrian Officials Open 13th IPU Summit of Women Speakers of Parliament

The 13th IPU Summit is held virtually and will cover important topics dealing with countless inequalities women face today. The organization of the event is a common effort between the Austrian Parliament and the United Nations.

August 18, 2020

Austrian Airlines Deal: EUR 450 Million for Vienna Hub Guarantee

The Lufthansa subsidiary will receive EUR 450 million from the Republic of Austria, EUR 300 million of which as a loan guarantee and EUR 150 million as equity.

June 9, 2020

Deal: Bail-out for Austrian Airlines

According to media reports, AUA Austrian Airlines is to receive a total of EUR 600 million and thus retain its Austrian headquarters.

June 8, 2020

OFID - Austria Headquarters Agreement Updated

An amendment to the Headquarters Agreement between the OPEC Fund for International Development (OFID) and Austria in respect of the privileges and immunities granted therein has revised the 1981 Convention.

June 4, 2020

Ryanair's Laudamotion to Close Vienna Base

Laudamotion closes its base in Vienna on 29 May, 300 people lose their jobs. The trade union Vida did not agree to an ultimatum by the airline, which would have brought a new collective agreement with significantly lower wages.

May 22, 2020

War for Global Telecom Infrastructure Supremacy: Vienna first EU Capital with Area-wide 5G Network

While the Third World War is raging backstage between the USA and China for world supremacy in 5G infrastructure, Huawei wins another milestone in Vienna. Digital City Councilor Peter Hanke has set the goal "Vienna should become the first city in Europe with a complete 5G network". The city is supporting the network expansion with 20 million euros.

May 18, 2020

Tax Consultants and Auditors: Corona Aid Fund for Fee Losses Threatening their Existence

The Austrian Chamber of Tax Consultants and Auditors (KSW), which represents 8,000 Austrian tax consultants and auditors, is setting up a 2 million euro aid package.

May 12, 2020

Austrian Government Says It is Prepared to Pump Virtually Unlimited Money into Economy

The Federal Government announced today that an aid package of up to 38 billion euros is being prepared to deal with the consequences of the coronavirus.

March 18, 2020

Coronavirus Prohibitions in Austria - Which Shops and Services are still Open?

Many people are confused due to the short-term decision to prohibit access to the customer area of business premises of retail and service companies as well as leisure and sports businesses, and wonder which essential items and services of daily life are still available. Below is a current list in force since Monday, 16 March 2020.

March 17, 2020

City of Vienna Signals Willingness to Talk to Rothschild's Heir

In the conflict over a non-profit Rothschild Foundation from 1908, today's Neurological Centre Rosenhügel (Neurologisches Zentrum Rosenhügel), between Geoffrey Hoguet, the grandson of the donor Alfons Freiherr von Rothschild, who lives in New York City, and the City of Vienna's magistrate, the City of Vienna is now offering its "willingness to talk".

March 12, 2020

Gambling: CEO Neumann Abruptly Left Novomatic

The Group has been in the limelight for a year because of a corruption scandal. Official reasons for the departure are "family reasons", but various media are reporting disagreements with Johann Graf, sole shareholder of the two parent companies Novo Invest GmbH (Austria) and NOVO Swiss AG (Switzerland). Ryszard Presch and Johannes Gratzl are jointly taking over his task.

March 2, 2020