Associations

In Austria, an association is understood as a voluntary, permanently organized consortium of at least two persons, organized on the basis of association statutes, for the purpose of common specific and idealistic purpose. Legally, an association starts to exist with the announcement of the association at the Authority, after which the association becomes registered in the association register.

An association can conclude many types of legal transactions as it is being considered as a  legal entity and associations are explicitly inside to scope of the Austrian UBO Act. Accordingly, the true ultimate beneficial owner has to be apparent from the register entry in the UBO register.

However, in difference to many other legal entities, associations are largely exempted from the obligation to register their beneficial owners. This is because associations are usually without a real ultimate beneficial owner, so the data of representatives of the association can be automatically transferred from the association register to the UBO register. Only if a natural person who is not designated in the association register exercises direct or indirect control over the management of the association the association has to proactively register this person as ultimate beneficial owner to the UBO register.

Regardless of whether an exemption from the obligation to register is applicable or not, the duty of verification does not lapse in any case: every association has to perform a documented verification of their registration entry in the UBO register  at least once a year.

For so-called "small non-life mutual (“kleiner Versicherungsverein”)" and "mutual insurance  companies (“Versicherungsverein auf Gegenseitigkeit") own rules apply, which you can read here.

If you want to test without any further obligation, whether your association has the obligation to register in the Austrian UBO register you may use our free self-check here.

Examples (german)