What is a Sole Trader?
A Sole Trader exists when a single person independently operates a business and bears sole responsibility. In Austria, this legal form is the simplest and most commonly chosen form of carrying on a trade, particularly for founders.
Retrieve an Extract from the Business Register
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A Sole Trader does not have to be entered in the Business Register. The only requirement is the registration in the Austrian Business Licence Information Register (GISA). With this registration, a Business Licence is issued, which entitles the holder to carry out a commercial activity.
The Sole Trader is liable for all liabilities of the business with their entire assets. This includes not only business assets but also private assets. This personal liability is the most important difference compared with corporations such as a Limited Liability Company (GmbH).
Further information and legal requirements can be found on the website of the Federal Ministry of Justice (BMJ) and on the Business Service Portal (USP).
Example Extract from the Business Register
