Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the FMA's decision, including banking and payment rails.
Get an investment license in Austria.
A single regulator and a statute that prints its own clock: the FMA grants the Wertpapierfirma concession under Art. 3 WAG 2018, with initial capital of €75,000, €150,000 or €750,000 under Art. 13 WPFG and a written answer within six months of a complete application (Art. 3 para 5). The FMA Cost Regulation sets no application fee; the annual supervision levy starts at €1,000. Below the full licence sits the Art. 4 Wertpapierdienstleistungsunternehmen - advice and order transmission under €2 million turnover, Austria only. The FMA counted 57 investment firms and 43 providers at the end of 2025. Corporate tax is 23%.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Austria in brief
One regulator, a printed clock and no application fee.
Austria licenses investment firms under the Wertpapieraufsichtsgesetz 2018 (WAG 2018), the MiFID II statute the FMA last consolidated to BGBl. I 27/2026. Art. 3 is the concession: a legal person with registered office and head office in Austria, run as a joint stock company or a cooperative (Art. 3 para 5 no. 1), licensed for the services in Art. 3 para 2 - investment advice, portfolio management, reception and transmission, MTF and OTF operation, execution, dealing on own account, underwriting and placing, with safekeeping as an ancillary service. Capital comes from the Wertpapierfirmengesetz (WPFG, BGBl. I Nr. 237/2022), the IFD transposition. Art. 13 sets €750,000 for own-account dealing or firm-commitment underwriting, €75,000 for advice, RTO, execution, portfolio management or soft placing without client money, €150,000 in every other case. Fund managers are licensed separately: an AIFM under Art. 4 AIFMG at €125,000, or €300,000 self-managed, and a UCITS Kapitalanlagegesellschaft as a special-purpose credit institution under the BWG.
The clock is in the statute. Art. 3 para 5 WAG 2018 obliges the FMA to tell the applicant within six months of a complete application whether the concession is granted; an AIFM gets three months, extendable by three (Art. 6 para 5 AIFMG). The FMA Cost Regulation 2016 sets no application fee, only the annual levy - at least €1,000 per investment firm and €500 per Art. 4 provider (Art. 14 para 3). AeW membership costs a €400 share, €2,450 admission and €700 a year. The market is small and shrinking. The FMA's Annual Report 2025 counts 57 Wertpapierfirmen, down from 62, and 43 Wertpapierdienstleistungsunternehmen, down from 45, beside 14 Kapitalanlagegesellschaften and 23 licensed AIFMs. Corporate tax is 23%. The file runs in German, and at least one director must speak it (BWG Art. 5 para 1 no. 11). We run it from Vienna.
One regulator and a printed clock: the FMA concession as a Wertpapierfirma under Art. 3 WAG 2018 - capital €75k/€150k/€750k under Art. 13 WPFG, six months from a complete file, no application fee, the Art. 4 light licence for advice and RTO under €2 million, the 30-state passport.
23% corporate tax, 27.5% KESt on dividends, 20% VAT with banking exempt. 57 investment firms on the FMA's 2025 count; two directors, one German-speaking. Built end to end from Vienna.
The two builds
The Wertpapierfirma - or the Art. 4 provider for advice and orders.
One MiFID concession under Art. 3 WAG 2018 at €75,000-€750,000 by service set, and a national light licence under Art. 4 for advice and order transmission below €2 million turnover - without client money and without a passport. We fix the route before the file.
The Art. 3 Wertpapierfirma - or the Art. 4 provider under €2 million.
01 - WERTPAPIERFIRMA
The Art. 3 investment firm
The FMA concession under Art. 3 WAG 2018 for the services in Art. 3 para 2 nos. 1-9 - advice, portfolio management, RTO, MTF and OTF, execution, own-account dealing, underwriting and placing - with Art. 13 WPFG capital at €75,000 without client money, €150,000 with it, €750,000 for dealing or firm-commitment underwriting, and the EU passport under Art. 3 para 12.
The FMA concession under Art. 3 WAG 2018 for the services in Art. 3 para 2 nos. 1-9 - advice, portfolio management, RTO, MTF and OTF, execution, own-account dealing, underwriting and placing - with Art. 13 WPFG capital at €75,000 without client money, €150,000 with it, €750,000 for dealing or firm-commitment underwriting, and the EU passport under Art. 3 para 12.
- ✓Art. 3 para 2 nos. 1-9 WAG 2018 services
- ✓€75,000 - no client money or instruments
- ✓€150,000 - all other firms
- ✓€750,000 - own account, firm-commitment underwriting
- ✓AG or cooperative, two directors (BWG Art. 5)
- ✓6 months from a complete file (Art. 3 para 5)
02 - ART. 4 PROVIDER
€2 million turnover ceilingThe Wertpapierdienstleistungsunternehmen
The national light licence under Art. 4 WAG 2018 for investment advice and reception and transmission of orders only, open to natural and legal persons whose annual turnover from investment services stays under €2 million - no client money, no instruments, Austria only, with professional indemnity cover of €1,000,000 per event and €1,500,000 a year in place of a capital figure (Art. 4 paras 3 and 5).
Advice and RTO only, under €2 million turnover, insurance of €1,000,000 per event instead of capital - no client money, Austria only.
- ✓Advice and RTO only (Art. 3 para 2 nos. 1 and 3)
- ✓Turnover from investment services under €2 million
- ✓Natural or legal person
- ✓PI insurance €1,000,000 per event · €1,500,000 a year
- ✓No client money, no passport - Austria only
- ✓43 providers on the FMA's end-2025 count
Costs and timelines are confirmed for your case before any work begins. The FMA Cost Regulation sets no application fee; the annual levy under Accounting Group 3, AeW membership and federal stamp duties are itemised in your quote.
Why Austria
A printed clock, no application fee and a regulator you can name.
Austria sells a single supervisor, a statute that states its own deadline and a light national regime below the MiFID line.
✓
One regulator
The FMA licenses and supervises Wertpapierfirmen, Art. 4 providers, Kapitalanlagegesellschaften and AIFMs alone; the Oesterreichische Nationalbank has no licensing role for investment firms.The FMA, nobody else.
✓
Six months, in the statute
Art. 3 para 5 WAG 2018 obliges the FMA to answer within six months of a complete application - and an AIFM within three, extendable by three (Art. 6 para 5 AIFMG).Art. 3 para 5.
✓
No application fee
The FMA Cost Regulation 2016 sets no licence application fee. What you pay is the annual levy: at least €1,000 per investment firm, €500 per Art. 4 provider (Art. 14 para 3).Levy from €1,000 a year.
✓
The Art. 4 light route
Advice and order transmission under €2 million turnover, with insurance of €1,000,000 per event instead of a capital tier - open to natural persons, closed to client money and to the passport.Advice and RTO, no passport.
✓
23% and a 9.2 million market
Körperschaftsteuer at 23% since 2024, and 9,215,956 residents at 1 January 2026 on Statistik Austria's count - before the passport adds the other 29 EEA states.Rate and market.
✓
A German-language, two-director house
Art. 3 para 5 no. 6 imports the BWG: two directors with no sole power of representation, one whose centre of vital interests lies in Austria, one who commands German, none with another main profession, and the head office in Austria (BWG Art. 5 para 1 nos. 10-14). Budget for real Vienna substance.Two directors, one resident.
How it compares
How Austria differs from other routes.
The honest comparison: a small register with a printed clock and no fee - against the larger German market, the cheaper Hungarian rate and the Czech neighbour.
Austria vs other jurisdictions
| Feature |  Austria | Other jurisdictions |
|---|---|---|
| Regime | WAG 2018 Art. 3 - FMA alone | WpIG § 15 Germany · Bszt. §§ 7-8 Hungary · ZPKT § 5 Czechia |
| Capital | €75k / €150k / €750k - Art. 13 WPFG | § 17 WpIG Germany · Bszt. § 13 Hungary, same tiers |
| Passport | 30 EEA states · Art. 4 providers none | Germany § 34f GewO none · French CIF none |
| Timeline | 6 months from a complete file (Art. 3 para 5) · no stats | Hungary 3 months (MNB tv. § 49) · Germany, Czechia 6 months |
Regime
AustriaWAG 2018 Art. 3 - FMA alone
Other jurisdictionsWpIG § 15 Germany · Bszt. §§ 7-8 Hungary · ZPKT § 5 Czechia
Capital
Austria€75k / €150k / €750k - Art. 13 WPFG
Other jurisdictions§ 17 WpIG Germany · Bszt. § 13 Hungary, same tiers
Passport
Austria30 EEA states · Art. 4 providers none
Other jurisdictionsGermany § 34f GewO none · French CIF none
Timeline
Austria6 months from a complete file (Art. 3 para 5) · no stats
Other jurisdictionsHungary 3 months (MNB tv. § 49) · Germany, Czechia 6 months
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Austria | Wertpapierfirma - FMA | 23% KöSt | Art. 13 WPFG €75k-€750k, no application fee |
 Germany | Wertpapierinstitut - BaFin | 30.13% combined · ~25% by 2032 | § 17 WpIG €75k-€750k, fee €6,336 |
 Hungary | Befektetési vállalkozás - MNB | 9% CIT · up to 2% local | Bszt. § 13 €75k-€750k, fee HUF 2,700,000 |
 Czechia | Obchodník s cennými papíry - ČNB | 21% CIT | IFR art. 9 €75k-€750k, § 7(2) six months |
AustriaLicense typeWertpapierfirma - FMA
Taxation23% KöSt
RequirementsArt. 13 WPFG €75k-€750k, no application fee
GermanyLicense typeWertpapierinstitut - BaFin
Taxation30.13% combined · ~25% by 2032
Requirements§ 17 WpIG €75k-€750k, fee €6,336
HungaryLicense typeBefektetési vállalkozás - MNB
Taxation9% CIT · up to 2% local
RequirementsBszt. § 13 €75k-€750k, fee HUF 2,700,000
CzechiaLicense typeObchodník s cennými papíry - ČNB
Taxation21% CIT
RequirementsIFR art. 9 €75k-€750k, § 7(2) six months
Before you apply
Requirements for the Austrian licence.Requirements for the licence.
The FMA reviews against Art. 3 para 5 WAG 2018 and the BWG conditions it imports, and the six-month clock starts only when the file is complete. The checklist below is what a passing application contains.
01
Legal form - a joint stock company or a cooperative society, with registered office and head office in Austria (Art. 3 paras 1 and 5 WAG 2018).
02
Initial capital - €75,000, €150,000 or €750,000 under Art. 13 WPFG by service set, freely available to the management (Art. 3 para 5 no. 2).
03
Two directors - no individual power of representation (BWG Art. 5 para 1 no. 12), professionally qualified under Art. 12 WAG 2018 by reference to CRD arts 88 and 91.
04
Residence and language - at least one director with the centre of vital interests in Austria and at least one who commands German (BWG Art. 5 para 1 nos. 10-11); no other main profession outside banking or insurance (no. 13).
05
Qualifying holdings - every holder assessed under BWG Art. 5 para 1 no. 3; no foreign-ownership limit.
06
The application - on the FMA's form, with Art. 4 paras 3 and 5 BWG applying to the request (Art. 3 para 8 WAG 2018); the FMA's general applicant guidance is being revised in 2026.
07
Prudential machinery - own funds under Art. 28 WPFG by reference to IFR art. 11: the permanent minimum, a quarter of fixed overheads and, outside the small and non-interconnected class of IFR art. 12(1), the K-factors.
08
Investor compensation - AeW membership for every firm providing the services in Art. 3 para 2 nos. 2-10 (Arts 73 ff. WAG 2018), the FMA consulting the scheme before it grants (Art. 3 para 9); advice-only and RTO-only firms under €2 million are exempt.
09
Control functions - compliance, risk management and internal audit under the WAG 2018 organisational rules and Delegated Regulation (EU) 2017/565.
10
MTF or OTF rules - where the licence covers nos. 4 or 5, terms and procedures that meet Art. 76 BörseG 2018 (Art. 3 para 5 no. 5).
01
AG or cooperative, seated in Austria.
02
Capital per Art. 13 WPFG.
03
Two directors, no sole representation.
04
One resident, one German-speaking.
05
Holders assessed under BWG Art. 5.
06
FMA form, complete.
07
IFR own funds live.
08
AeW membership.
09
Compliance, risk, audit staffed.
10
MTF/OTF rules per BörseG.
Reflects the WAG 2018 (BGBl. I 27/2026), the WPFG (BGBl. I 5/2026) and the BWG as of 2026.WAG 2018 + WPFG + BWG, as of 2026.
How it works
From first call to the FMA register.
01
Route and tier
Art. 3 concession or Art. 4 provider decided, services fixed under Art. 3 para 2, tier chosen - €75k, €150k or €750k - in writing before drafting.Art. 3 or Art. 4.
02
Company and bench
Austrian AG or cooperative, capital paid, two directors and qualifying holders ready for the Art. 3 para 5 and BWG Art. 5 tests.Ready for BWG Art. 5.
03
The application
Form, business plan, organisational file and the AeW application - complete at filing, so the six-month clock actually starts.Complete, so the clock starts.
04
FMA review
Art. 3 para 5: six months from completeness, the compensation scheme consulted under para 9, no application fee to pay.Six months statutory.
05
Licence and passport
Written concession under Art. 3 para 8, AeW membership, EEA notifications - 30 markets open.30 markets open.
Quick facts
RegulatorFMA
LicenceWertpapierfirma, Art. 3 WAG 2018
No client money€75,000
Other firms€150,000
Own account · underwriting€750,000
Application feeNone (FMA Cost Regulation)
Statutory clock6 months (Art. 3 para 5)
Corporate tax23%
The FMA publishes no processing statistics - 13 licences granted across all sectors in 2025 - so the honest plan is the six-month statute plus the time it takes to make the file complete.
On the ground in Austria
Run from our Vienna office.
Prifinance - Austria
Vienna · Austria
Vienna, Austria
01
Company and capital
AG or Genossenschaft with registered office and head office in Austria, Art. 13 WPFG capital paid to the tier and freely available - the Art. 3 para 5 grounds closed before filing.Art. 3 grounds closed.
02
The FMA file, in German
Application form, business plan and organisational file drafted to Art. 3 WAG 2018 and the BWG conditions it imports - and defended through the FMA's question rounds.To Art. 3 and the BWG.
03
Director bench
Two directors without sole representation, one resident in Austria and one German-speaking, qualified under Art. 12 - sourced from Vienna's regulated-firm bench.One resident, one German-speaking.
04
AeW, passport and launch
AeW membership, EEA notifications at one month for services (Art. 18) and three for a branch (Art. 20), banking live - with our Budapest office a train ride away.30 states at launch.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of investment firms in Austria.
A flat 23% since 2024, a 20% VAT with banking transactions exempt, and a supervision levy that starts at €1,000.
Körperschaftsteuer 23%
The corporate rate is 23% of taxable income since 2024, on the Federal Government's USP page of 1 January 2024 - the figure to model for the firm.Since 2024.
Minimum corporate tax
A loss year still carries Mindestkörperschaftsteuer: 5% of a quarter of the statutory minimum share capital for every full calendar quarter.Even in loss years.
Kapitalertragsteuer 27.5%
Dividends carry 27.5% KESt (the 25% rate is for interest on savings and current accounts); the rate for non-resident shareholders under treaty relief is confirmed per structure.On dividends.
Umsatzsteuer 20%
The standard rate is 20% (4.9%, 10% and 13% reduced); money and banking transactions are exempt without input-tax credit, and how far that reaches your service set is settled in the quote.Banking exempt.
FMA levy from €1,000
No application fee, but an annual levy under the FMA Cost Regulation 2016: at least €1,000 per investment firm and €500 per Art. 4 provider, allocated by weighted revenue from investment services (Art. 17 para 3).No application fee.
AeW membership
A €400 business share, €2,450 one-off admission and at least €700 a year to the compensation scheme, plus fund contributions under § 74 Abs 2 WAG 2018.€400 + €2,450 + €700.
Tax summary
Corporate tax23%
Dividend KESt27.5%
VAT20% · banking exempt
Application feeNone
FMA levyFrom €1,000 a year
*Figures as of 2026 per Austrian law, the USP and the BMF. Group and founder-level outcomes are modelled per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Austrian company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed firm.
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Austria · FMA investment firm concession
Launch your investment firm in Austria with expert support.
Full-service assistance - from the Austrian AG and the FMA file to the Wertpapierfirma concession, directors, AeW membership, passporting and ongoing compliance - run through our Vienna office.
Get a consultation →Free legal opinion
Is Austria the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Austrian investment licence, answered.
Which licence does an investment firm need in Austria?+
The concession as a Wertpapierfirma under Art. 3 WAG 2018 from the FMA, covering the services in Art. 3 para 2 - advice, portfolio management, RTO, execution, own-account dealing, underwriting, MTF and OTF. Fund managers are licensed separately under the AIFMG or, for UCITS, under the BWG.
What capital does Art. 13 WPFG require?+
€750,000 for dealing on own account or firm-commitment underwriting; €75,000 for advice, RTO, execution, portfolio management or placing without firm commitment where the firm may not hold client money or instruments; €150,000 in all other cases - the IFD art. 9 tiers, transposed one to one.
How long does the FMA take?+
Six months from receipt of the complete application, by statute (Art. 3 para 5 WAG 2018). The FMA publishes no processing statistics - its 2025 report shows 13 licences across all sectors - so completeness at filing is the lever.
What does the licence cost at the FMA?+
Nothing at application: the FMA Cost Regulation 2016 sets no licence fee. The annual supervision levy starts at €1,000 per investment firm and €500 per Art. 4 provider, and AeW membership adds a €400 share, €2,450 admission and at least €700 a year.
What is the Art. 4 Wertpapierdienstleistungsunternehmen?+
The national light licence for investment advice and order transmission only, for natural or legal persons with under €2 million annual turnover from investment services. It carries insurance of €1,000,000 per event instead of a capital tier, may hold no client money, and is valid in Austria only.
Who has to be in place?+
Two directors with no individual power of representation, at least one with the centre of vital interests in Austria and one who commands German, none with another main profession, all qualified under Art. 12 WAG 2018 - conditions imported from BWG Art. 5 para 1 through Art. 3 para 5 no. 6.
Does the licence passport across the EEA?+
Yes - Art. 3 para 12 WAG 2018 entitles the firm to provide its services throughout the EU. The FMA forwards a services notification within one month (Art. 18 para 2) and a branch notification within three (Art. 20 para 3). Art. 4 providers and registered AIFMs have no passport.
Is there an investor-compensation scheme?+
Yes - the AeW, the statutory scheme for Wertpapierfirmen since 1999, under Arts 73 ff. WAG 2018. Every firm providing the services in Art. 3 para 2 nos. 2-10 must join; claims are filed within a year of the bankruptcy opening. The AeW does not print the amount per investor; the Directive 97/9/EC floor is €20,000.
Austria or Germany for a new firm?+
Germany has the 83.5 million market, a printed fee of €6,336 and 682 Wertpapierinstitute on BaFin's register; Austria has 23% corporate tax, no application fee and 57 investment firms, but demands an AG or cooperative and a German-speaking, Austria-resident director. Frankfurt for scale; Vienna for the lean house.
Why Prifinance for Austria?+
A Vienna office and a file written in German to Art. 3 WAG 2018 and the BWG conditions it imports, with the two-director bench sourced and the AeW application filed alongside. Our Budapest office is a train ride away, and the EEA notifications run as part of launch.
Which licence?+
Art. 3 WAG 2018 Wertpapierfirma.
Capital?+
€75k/€150k/€750k.
How long?+
Six months, no stats.
Fee?+
None; levy from €1,000.
Art. 4?+
Advice and RTO, no passport.
People?+
Two directors, one German-speaking.
Passport?+
30 EEA states.
Compensation?+
AeW, floor €20,000.
Or Germany?+
Rate vs the market.
Why you?+
Vienna office, German file.
Client notes
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Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: which Austrian route fits your project and what it will cost.
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Austrian Financial Market Authority (FMA) or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.