Austria (AT)

Jurisdiction Overview

204 *Are Trusts available? BOTH: Domestic trust law and administration of foreign law trusts.
 Data Date: 2018


Austria does not recognise the concept of trusts. However, Treuhand is available there as an equivalent to trusts. The Global Forum reported in 2011: "It is also possible in Austria to set up Treuhand. The Treuhand is a civil contract which is not regulated in law, but is based on the general principle of the autonomy of the contracting parties (i.e.the ability of any person to enter into any contract which whomsoever they chose) and delimited by jurisprudence and doctrine. A Treuhand does not have any legal status. It is created when a person, the Treuhänder, is authorised to exercise rights over property in his or her own name, on the basis of and in accordance with a binding agreement with another person, the Treugeber." (GF 2011: 29). In addition, Austrian citizen or service provider can act as a trustee of a foreign trust or alternatively, a foreign trust may own assets in Austria (ibid.). This information was confirmed by the 2018 Global Forum report (GF 2018: 46-47).


GF 2015: 36-37; GF 2011: 29; GF 2013: 45; GF 2018: 46-47