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AUSTRIA

More than two centuries of financial stability as well as developed economy and financial sectors make Austria an attractive location for bank accounts.

The Austrian banking system has successfully survived the global financial crisis. It operates with a limited government regulation and provides excellent opportunities to conduct business. The main regulator is Oesterreichische Nationalbank (Austrian National Bank). The control of the banking sector is the responsibility of Oesterreichische Kontrollbank, which is the supervisory bank.

Altogether there are more than 800 financial institutions in Austria. The best-known banks include Erste Bank der Oesterreichischen Sparkassen, Raiffeisen Zentralbank Oesterreich, Oesterreichische Volksbanken, Raiffeisen International, Bawag PSK and Oberbank. Euram Bank, LGT Bank, MeinlBank and Valartis Bank are also popular. The clients of Austrian banks are not afraid of rather high service fees and requirements to the minimum account balance. All the above-mentioned issues are certainly compensated by the advantages of Austrian banks.

ADVANTAGES OF OPENING A BANK ACCOUNT IN AUSTRIA

Among the advantages of opening a bank account in Austria it is possible to mention the following:

unified requirements for all clients without exception and irrespective of their nationality;
availability of additional measures which exclude double taxation;
high level of confidentiality;
provision of the full range of financial services including online banking;
possibility to open accounts in any currency.

ACCOUNT OPENING PROCEDURE IN AUSTRIA

Our company is ready to handle all the affairs when it comes to opening a bank account in Austria. Our employees are experienced in Austrian account opening procedure and provide comprehensive services from the preparation of documents required to the account opening and receiving the supporting documents.

The standard set of documents includes director, company owners and other attorneys-in-fact ID cards as well as the original statutes (apostilled).

The verification process by a bank institution and direct opening of an account usually takes from 14 to 21 days. It depends on the requirements of the chosen bank.

Please contact us if you ever need to open an account in Austria. Our specialists have extensive experience in working with local banks and are ready to help in choosing the proper bank for your business as well as assist in preparing the necessary documents.

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