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Currency and Foreign Exchange Regulations
May 16, 2022

Under the provisions of the Austrian Foreign Currency Law (“Devisengesetz”), residents of Austria are required to report their foreign assets to the Austrian National Bank and may dispose of these assets in whole or in part only with the consent of the Austrian National Bank. At present, consent is granted liberally.

The unit of currency is the Euro, divided into 100 cents. Euro may be obtained at any Austrian bank. The rate of exchange fluctuates a bit from day to day. Railroad stations, airports, and most travel agencies and hotels also offer exchange services. In connection with tourist travel unlimited amounts of foreign exchange and Euro may be brought into the country and up to € 7000 or the equivalent amount in foreign exchange per person may be taken out of the country.

For foreign exchange transactions in convertible currencies for the purpose of capital investment, purchase of real estate, tangible assets of securities or stocks of Austrian companies, transfers of profits, dividends, interests, license fees and realities as well as retransfers of investment capital please contact the Austrian Embassy, Austrian Consulate General or Austrian Trade Commission nearest you.