Business transfer in Austria
More than 6,600 Austrian craft and service businesses were transferred to a new owner in 2008. This is a 0.7 percent raise over 2007 and a 28 percent increase over 1998.
The tourism industry, which accounted for one-third of all transfers in 2008, was followed by the craft sector (24%), and trade (24%). (21 percent). The share of transfers realized in the craft industry has climbed significantly since 2001, while the share in trade has declined.
Approximately 55,200 Austrian SMEs (including one-person businesses) are expected to face the task of mastering a company transfer between 2010 and 2019. This equates to roughly 18% of craft and service SMEs.
Hence, the need for competent hands to handle the transfer process, and such excellent service is what we offer with good track records.
Types of business transfers
When you have a business, one of the things to think about is whether or not you want to sell it or transfer some of your assets to reduce business costs. The two processes are similar, but there are some key differences. Let’s take a look at what these different types of business transfers are and how they work.
Transfer business ownership
Transfer of ownership of a business is the procedure for transferring ownership of a business from one person to another.
For owner-managers, preparing to relinquish ownership of a firm can be difficult, but getting it right is critical if the business is to remain successful – and early planning is essential.
Transfer business assets
The transfer of assets between corporations is known as a business asset transfer.
Asset transfer between businesses is tasking and might have serious tax and legal consequences if done wrongly
Our commitment is to assist you with transferring your assets in a timely and efficient manner.
Transfer business material portion
In material portion transfer, the ownership of the business changes completely. The buyer buys all relevant shares from the seller and thus acquires control over the company. In this case, the buyer is responsible for all liabilities of the business.
Transfer agreement and documents
The agreement providing for the transfer of structured settlement payment rights from a payee to a transferee is referred to as a transfer agreement.
An agreement between a present business owner and a buyer is signed. This contract should formalize the two parties’ verbal agreement and confirm the transaction’s terms.
We help you prepare the documents needed for your transfer.
Key points of business transfer
A business transfer usually entails the transfer of the target company to a newly formed company (NewCo), which will thereafter be transferred to the buyer. Assets, workers, licenses, and ongoing contracts are typically transferred. Here are key points to consider before business transfer:
- You should consider the possibility of transferring each asset that makes up the target business. The ability to transfer, depending on the specific asset, can be critical when considering using the transfer of a business.
- Consider the time it takes to transfer the business. Depending on the specific business component being transferred, the business transfer process can take a long time.
- Each situation can be unique and unexpected in some cases and one mistake can cost a huge amount of money. That is why It is better to transfer a business with professional assistance.
Transfer business with us
Transferring assets from one company to another is a time-consuming process. It could have substantial tax and legal repercussions if done incorrectly.
Ready for the next step
Accelerate your business growth while we take care of everything else.