Are Sole Traders entered in the Business Register?

Entering a Sole Traders in the Austrian Business Register is generally voluntary. Registration is only mandatory if certain turnover thresholds are exceeded. If a Sole Trader generates more than EUR 700,000 in turnover in two consecutive financial years, or more than EUR 1,000,000 in one year, registration in the Business Register becomes mandatory.

In the case of voluntary registration, there is generally no obligation to prepare Balance Sheets. The business may therefore continue to use an income-expenditure statement as long as there is no statutory bookkeeping obligation.

Further information on the requirements and turnover thresholds can be found on the website of the Federal Ministry of Justice (BMJ).