BRP Country Manual Trustee
Austria
| SOURCE OF CHANGES | ANSWERS |
|---|---|
| Law/Regulation | No |
| New Position of the Authorities | No |
| Evolution of Expert’s interpretation | Yes |
BRP has published its latest Country Manual Trustee for
Austria
Regulatory Summary and Behaviour Template
Material changes
We have reviewed the documents and can confirm that there have been no relevant regulatory changes since the last publication of this Country Manual. Nevertheless, some interpretations give room for a more liberal approach (see details below).
Non-material changes
We took advantage of this update to revise the wording of certain sentences.
The behaviour rules have been made more precise.
The legal basis list has been updated.
Behaviour Template
The changes are as follows:
In order to maintain a consistent approach, responses relating to the referral of a Custodian Bank, Investment Advisor or Asset Manager have been aligned with our CM Private Banking.
Socialising activities, such as providing a business card, are permitted (“YES” instead of “Grey zone/YES”).
Since trustee services and activities are not expressly regulated in Austria, Trustees must ensure that they do not establish a permanent presence. They might act onsite under certain circumstances, but they should avoid onsite activities involving remuneration and they should act on a strict occasional basis. (“Grey zone” instead of “Grey zone/NO”).
For more information, please contact us: info@brpsa.com
Geneva, November 27th, 2025