Austria

What is the legal basis of the Transparency Register in the respective Member State?

Bundesgesetz über die Einrichtung eines Registers der wirtschaftlichen Eigentümer von Gesellschaften, anderen juristischen Personen und Trusts (Wirtschaftliche Eigentümer Registergesetz).

Is there an obligation of a UBO or shareholder to proactively provide information on the UBO to the legal entity?

Yes. 
Beneficial and legal owners have to provide the legal entity with all documents and information necessary.

Is there an obligation of a legal entity to actively inquire with its shareholders/partners on the identity of the UBO(s)?

Yes. 
Legal entities are obliged to take appropriate measures to verify whether the information provided is correct and to fully understand the ownership and control structure.

Who is required to make filings with the Transparency Register, the legal entity or the UBO?

The legal entity.

Are there exemptions to the filing obligation?

No filings necessary in the case of

  • Partnerships (Offene Gesellschaft, Kommanditgesellschaft), if all personally liable shareholders are natural persons.
  • Limited liability companies, if all shareholders are natural persons.
  • Cooperatives and Industrial Societies (Erwerbs- u. Wirtschaftsgenossenschaften).
  • Mutual insurance associations (Versicherungsvereine auf Gegenseitigkeit).
  • Associations pursuant to the Austrian Associations Act (Vereine gemäß Vereinsgesetz).
  • Listed Companies.

What is the due date for the initial filing with the Transparency Register?

1 June 2018

What are the sanctions in case of a breach of the transparency obligation?

Administrative fines.

Is the Transparency Register established as a separate register or part of an existing register?

Yes. 
Filings have to be made via the Unternehmensserviceportal (www.usp.gv.at)