WiEReG: Mandatory disclosure of trusteeships
Since 2018, the Austrian Beneficial Ownership Register Act (WiEReG) has required legal entities in Austria to disclose their beneficial owners in order to prevent money laundering and terrorist financing. New reporting obligations under the WiEReG have applied since October 2025, according to which all fiduciary relationships (so-called "nominee agreements") must now be disclosed.
What is a nominee agreement as defined by the WiEReG?
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A nominee agreement is a legal arrangement in which a person or legal entity appears to the outside world in their own name, but actually acts on the instructions of another person - without being the beneficial owner themselves. In terms of content, this essentially corresponds to the definition of trusteeship applicable in Austria.
New reporting obligations since October 2025
As of October 1, 2025, all legal entities subject to reporting requirements are obliged to disclose existing and newly concluded nominee agreements. The following are required to report:
- as before: nominee agreements with a shareholding of more than 25 %,
- NEW : Nominee agreements between natural persons with a shareholding of 25% or less,
- NEW : Nominee agreements in which legal entities (e. g. Limited liability companies) act as nominee (trustee),
- NEW: Nominee agreements with nominee directors as members of the top management level of the legal entities.
In addition to the persons involved, the notification form must also state their respective roles (nominator, nominee, nominee director) and the date on which the agreement was concluded.
Deadlines and sanctions
Nominee agreements for fiduciary shareholdings of up to 25% in legal entities that were covered by a reporting exemption must be reported immediately. If, on the other hand, the legal entity was not previously exempt from reporting, fiduciary relationships with shareholdings of 25% or less must also be reported for the first time from October, but in this case at the latest in the course of the mandatory annual report.
Violations of the new obligations can have considerable financial consequences: The WiEReG provides for stricter financial penalty provisions from 2025. In particular, penalties will be imposed for incorrect or omitted reports, failure to provide evidence and failure to submit the annual confirmation.
Legal entities are therefore well advised to review existing structures at an early stage and adapt their reporting processes in order to avoid financial penalties.
Noemi Heinzle | Paralegal
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