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Surprisingly pragmatic about alternative investment funds. Austria doesn't get talked about enough in the European fund conversation. The FMA's registration regime is straightforward, AIFMD passporting works well out of Vienna, and the regulator is more approachable than you'd expect. Read up on Austrian AIF regulations, FMA registration requirements, and how to structure a fund out of Austria without losing your mind.
Tax
Austria taxes carried interest at 27.5% as capital income — if you structure it correctly. Get the carry vehicle wrong and you are looking at progressive rates up to 55%. Here is how the rules work.
Operations
Austrian law mandates a depositary for licensed AIFMs, and even registered managers face pressure to appoint one. Here is how the depositary requirement works, what it costs, and how to structure it.
Regulatory
Austrian VC managers can register under the EuVECA framework for simplified cross-border marketing across the EU. The 2018 amendments made it more practical. Here is how it works and where it falls short.
Fund structuring
Austria uses a GmbH & Co. KG fund structure under the AIFMG framework. Here is what the end-to-end launch process looks like when you work with a fund services provider.
Fundraising
Austria is one of the few EU countries that lets you market alternative funds to retail investors. The Article 49 AIFMG process is specific, fee-heavy, and worth understanding before you commit.
Regulatory
Austria's AIFMD II implementation lands in April 2026 with new concentration limits, leverage caps for loan-originating funds, and mandatory liquidity management tools for all open-ended AIFs. Here is what emerging managers need to know.
Regulatory
Austria's AIFMG gives emerging managers a choice between full licensing and simplified registration. The thresholds, obligations, and costs are different enough that the decision shapes your entire fund launch.
FMA supervised structureRegional investor trustEfficient EU market accessSetup: 5-7 weeks
Priced separately per fund
Above €5m signed fund size: + 12 bps through €50m, then 6 bps above €50m on whole committed capital
Priced separately per fund
Formation included in the published fee tiers. Price excludes feeders and VAT. Feeder terms and any discounts are separately negotiated. The fund size signed in the agreement determines the pricing tier and service eligibility. Changes require an amendment. Existing agreements keep their signed terms. These offers do not reprice an existing fund.