On 1 July 2013, a Bill amending the Limited Liability Company Law (Gesellschaftsrechtsänderungsgesetz 2013, GesRÄG) came into force, with the aim to reduce the costs connected with an Austrian limited liability company (Gesellschaft mit beschränkter Haftung, GmbH). The amendments provide that the minimum share capital of a GmbH is reduced from EUR 35,000 to EUR 10,000. In case the share capital is paid in cash, an amount of EUR 5,000 (instead of EUR 17,500) must be paid. Existing GmbHs can reduce their share capital to the new minimum amount of EUR 10,000 by repayment of shareholder's capital (ordentliche Kapitalherabsetzung). The...