Herbst Kinsky as pioneer for the new capital company form FlexKap
It started in 2020 with our expert opinion on the AustrianLimited and now ends in 2023 with the introduction of the long-awaited new capital company form FlexKap, which will bring the following major innovations:
* Enabling employee participation under company law by granting shares in the value of the company; this will be accompanied by a preferential tax rate that will only apply upon exit (75% of the subscription will be taxed at a fixed tax rate of 27.5%, the remainder at the respective wage tax rate)
* Reduction of the minimum share capital to EUR 10.000
* Share transfers and takeover declarations in the case of capital increases can now be made not only with a notarial deed, but also with a notarial or lawyer’s deed
* Circulation resolutions become majority-capable and digitally signable
* Introduction of flexible capital measures, which currently only exist with the AG (authorized capital, conditional capital and repurchase of own shares)
* Split voting for shares
A big step towards making the Austrian market more attractive – individual points still need to be adjusted and fine-tuned with the help of all stakeholders.