Austria – the right location for the best of Private Banking

Austria is not only favoured for its location at the crossroads of traditional European banking and the new investment horizons in Central and Eastern Europe – it also has a highly developed professional financial market; and of course, it provides the strictest standards of privacy and banking secrecy. Austria is an ideal location for Private Banking, and Vienna is a unique alternative and complement to the well known financial markets around the globe.

The Austrian Advantage

• Austria’s banking secrecy is guaranteed by strict laws with constitutional rank – this means that changes to it would require a two-thirds majority in parliament. All political parties have repeatedly supported to maintain the status quo.

• Regulation and prudential supervision of the banking sector and the regulation of the securities and insurance industries is performed by the FMA (Financial Market Authority, www.fma.gv.at) in cooperation with the Austrian National Bank (OeNB).

• Austria is an EU member, a member of the Euro currency area, and has a
  AAA sovereign debt rating – a reflection of the highest political and economic stability. This creates a most stable environment for private banking.

• Austria’s legal and fiscal framework is very stable and has multiple avenues for optimal structuring of corporate and private wealth management. Austria is an attractive place to manage wealth for EU residents and ideal for EU non-residents. For EU families with significant wealth and income Austria can be a highly attractive domicile.