Discover Germany | Issue 22 | January 2015

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Discover Germany | Special Theme | Austria’s Legal Experts

Portrait: Mr. Balazs Esztegar LL.M

cheap conditions have opened up for those seeking to establish a limited liability company.” These conditions are the result of recent amendments to Austrian corporate law that allow business developers the option to make a small initial cash contribution. Consequently the Austrian GmbH has become a major European competitor as this lower share capital opens up possibilities for those who would otherwise find establishing a business financially unfeasible.

Austria's Advantage: Attractive conditions make establishing a business in Austria a viable option The Vienna based law firm of Mr. Balazs Esztegar LL.M specializes in supporting small to medium-sized enterprises and start-ups. Due to his specialized knowledge in the IT sector Mr. Esztegar often works with companies in this field. Yet corporate law is another major focus of his law firm which is therefore frequently tasked in assisting the foundation of new companies in Austria. TEXT: JAIME SCHWARTZ | PHOTO: MICHAEL HOCHLEITNER

“I often consult entrepreneurs on their business ideas in order for them to establish

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a subsidiary in Austria,” explains Mr. Esztegar. “In the last two years relatively

“It is essential to weigh the founding steps,” says Mr. Esztegar about starting a business, and his main advice for those interested is not to rush. He cautions potential entrepreneurs to thoughtfully consider the many legal aspects that must be brought to attention when forming a company. “Before you choose a company name for example, you should check whether it interferes with already registered trademarks or another company’s name.” For these concerns, and others that could potentially be overlooked, having a lawyer on board already in the start-up phase can provide effective support. Mr. Esztegar studied law at the University of Vienna and holds a post-graduate degree with distinction in Information Law and Legal Information. He enjoys the dynamic of the entrepreneurial field as it allows him insight into the legal issues of many types of businesses. In his own words Mr. Esztegar says: “I like to advise entrepreneurs from the first idea about a company's inception to the everyday legal issues of corporate governance and to provide an affordable and competent contribution to my clients’ commercial success.”