Austria is a euro area banking market dominated by large domestic and cooperative banking groups with strong links to Central and Eastern Europe. Licensing is handled by the Financial Market Authority (FMA), with the ECB taking the final decision on bank licences, and statutory requirements such as a German-speaking, locally based manager make it a jurisdiction for genuinely local operations rather than letterbox licensing.
Risk flagStandard
FATFNot listed
EU AML high-risk listNot listed
EU tax listNot listed
Licence regimes6
CurrencyEUR
S&P ratingAA+
Next electiondue by 2029
EU member state, not on the FATF grey or black lists after the June 2026 plenary; the EU high-risk list (Delegated Regulation (EU) 2016/1675, last amended by Delegated Regulation (EU) 2026/46) and the EU tax list (Annex I, revised 17 February 2026) cover only third countries. Checked 7 October 2026.
Government and politics
Government
Federal parliamentary republic
Federal President
Alexander Van der Bellen · since January 2017
Federal Chancellor
Christian Stocker (Austrian People's Party (ÖVP))
Governing parties
Austrian People's Party (ÖVP), Social Democratic Party of Austria (SPÖ), NEOS
Last election
National Council (legislative), 29 September 2024
Next election
National Council (legislative), due by 2029. Next presidential election due in 2028
Legislature
Parliament: National Council (183 seats) and Federal Council (representing the states)
Legal system
Civil law system; Constitutional Court reviews legislative acts
Economy and finance
Population
9.2m (2025)
GDP
USD 579.9bn (2025)
GDP per person
USD 63,161 (2025)
Currency
Euro (EUR), euro
Central bank
Oesterreichische Nationalbank (part of the Eurosystem)
Credit rating
S&P AA+ (stable) · Moody's Aa1 (negative) · Fitch AA (stable) (as of February 2026)
A diversified, export-oriented industrial economy closely tied to Germany, with a strong banking sector that is a major lender across Central and Eastern Europe, and a fiscal deficit the current coalition is working to consolidate.
Bank
Bank licence (Konzession zum Betrieb von Bankgeschaeften), CRR credit institution
Minimum capitalUSD 5.6m
TimelineCRD Art. 15: decision within six months of a complete application and in any event within 12 months of receipt; the ECB then has ten working days (extendable once) to object to the FMA draft
AuthorityECB on a draft decision proposed by the FMA
Initial capital of at least EUR 5 million, freely available to the managers in Austria (BWG s. 5(1)(5))
Law
Bankwesengesetz (BWG), sections 4 and 5; Regulation (EU) No 1024/2013, Art. 14
Fees
EUR 12,500 FMA fee for a bank licence or for the proposal to the ECB to authorise a CRR credit institution (FMA-Gebuehrenverordnung, items I.A.1 and I.A.2)
Passporting
Yes. EU passport under CRD for branches and cross-border services.
Key requirements
Legal form of a corporation, cooperative or savings bank
At least two managing directors, at least one with the centre of vital interests in Austria and at least one fluent in German
Managers must have no other main occupation outside banking, insurance, payments or investment services; at least three years of senior experience is presumed fit
Fit and proper qualifying shareholders and a business plan with risk strategies
Investment firm licence (Wertpapierfirma); simplified licence for a Wertpapierdienstleistungsunternehmen under the MiFID II Art. 3 exemption
Minimum capitalUSD 84k
TimelineFMA informs the applicant within six months of a complete application (WAG 2018 s. 3)
AuthorityFMA
WPFG s. 13: EUR 75,000 (reception and transmission, execution, portfolio management, advice or placing without firm commitment, no client assets), EUR 150,000 (other), EUR 750,000 (dealing on own account, underwriting, or an OTF with own-account trading). A Wertpapierdienstleistungsunternehmen needs professional indemnity insurance instead
Law
Wertpapieraufsichtsgesetz 2018 (WAG 2018), sections 3 and 4; Wertpapierfirmengesetz (WPFG), BGBl. I Nr. 237/2022, section 13
Fees
EUR 3,750 (EUR 75,000 capital tier), EUR 6,250 (EUR 150,000 tier), EUR 10,000 (EUR 750,000 tier), EUR 2,500 for a Wertpapierdienstleistungsunternehmen (FMA-Gebuehrenverordnung, item III.B.1)
Passporting
Yes for a Wertpapierfirma (EU passport under MiFID II, WAG 2018 s. 3(12)). No for a Wertpapierdienstleistungsunternehmen, which operates under the MiFID II Art. 3 national exemption.
Key requirements
Managers must meet the BWG fit and proper, residence and German language conditions
Membership of an investor compensation scheme (not required for a Wertpapierdienstleistungsunternehmen)
Wertpapierdienstleistungsunternehmen: only investment advice and reception and transmission of orders, registered office and head office in Austria, no client money or securities, professional indemnity insurance with an Austrian-authorised insurer
European Central Bank, Single Supervisory Mechanism (ECB) · websitebanks
Bundesministerium fuer Finanzen (Federal Ministry of Finance), gambling supervision; concessions granted by the Finanzamt Oesterreich (BMF) · websiteOnline gaming
MiCA transition: Austria opted for a 12 month grandfathering period. Under MiCA-VVG s. 23(1), virtual asset service providers registered under the FM-GwG before 30 December 2024 could continue until 31 December 2025 or until their MiCA authorisation was granted or refused, whichever came first; that period has ended. Gambling: the GSpG reserves gambling to the federal government. Besides the single lottery concession (which includes electronic lotteries), there are land-based casino concessions and provincial slot machine permits, none of which allows a separate online licence. The identity of the current lottery concession holder was not confirmed from an official page and is not stated here. FMA web pages blocked automated access, so the Austrian figures are taken directly from the consolidated statutes and the FMA fee ordinance on RIS (the official federal legal information system).
Country information checked 9 October 2026. Licensing data updated 7 October 2026. Information only, not legal advice; requirements change. Regulatory notice.
