Is asset tokenization legal in Austria?

Yes. There is no specific law on DLT securities, but a token can represent a bond, a share or a revenue right: general securities and company law apply and, for crypto-assets that are not financial instruments, MiCA. What requires FMA authorization is the activity: placing, holding in custody or trading.

Can an Austrian GmbH be tokenized?

Its ordinary holdings are transferred by notarial deed, so the token cannot transfer them on its own. The alternative is the FlexCo, in force since 2024: it allows enterprise value shares, below 25% of capital, transferred in writing and recorded in its Anteilsbuch. Another route is converting into an AG.

How much can be raised without a prospectus in Austria?

Below €2 million over 12 months, an offer of securities needs no prospectus. Up to €12 million a simplified prospectus approved by the FMA is enough, and above that the EU prospectus is required. A crowdfunding platform allows up to €5 million per project owner. The law firm confirms it for each offer.

Does the token give ownership of the property?

Not by itself. The token represents a right against the issuer: a bond, a share in the owning company or a right to its rents. Ownership stays recorded in the Grundbuch, the land register kept by the district courts, and representing a property's cash flows does not make the investor a co-owner.

Asset Tokenization in Austria

They trust Metlabs to tokenize their assets

Why Austria

Why tokenize assets in Austria?

Austria has no law on securities in distributed ledgers, so the token follows general securities and company law. In return, its prospectus scale is clear after the 2026 reform: no prospectus below €2M and a simplified one approved by the FMA up to €12M. And since 2024 the FlexCo can issue holdings that are transferred in writing.

€2M

amount over 12 months below which an offer of securities needs no prospectus

KMG 2019, § 12 · RIS

€12M

ceiling over 12 months for an offer of securities with a simplified prospectus approved by the FMA

KMG 2019, § 12 · RIS

25%

of a FlexCo's capital, without reaching it, can be issued as enterprise value shares transferable in writing

FlexKapGG, § 9 · RIS

What gets tokenized

Debt, equity and revenue: what gets tokenized in Austria

Almost every tokenized issuance represents one of these three rights against the issuer. The right determines the vehicle, the applicable law and who keeps the register, and it is settled before the network or the token standard.

Right	Debt	Equity	Revenue
What is issued	Bonds (Anleihen)	Shares and holdings	Revenue rights
The investor receives	The investor lends to the issuer and receives interest and, at maturity, the principal.	The investor joins the share capital: dividends, voting rights and a share of any sale or liquidation.	The investor receives a share of the income from an asset: rents, energy sold, sales or royalties.
The token enforces	Coupon and payment schedule Maturity and redemption Verified investors only	Dividend distribution Voting rights Transfer restrictions	Percentage and calculation base Distribution frequency Term and buyback
Issuer	AG, GmbH or FlexCo	AG or FlexCo	AG, GmbH or FlexCo
Register	CSD if traded; otherwise issuer	Aktienbuch or Anteilsbuch	Issuer, or CSD if a security
Law	KMG 2019 and Prospectus Regulation	AktG and FlexKapGG	KMG 2019 or MiCA
How it is issued	Austria has no electronic securities regime: the bond is issued under general law and the token reflects the investor's position. If it is traded on a trading venue, it must be recorded with a central securities depository; the EU DLT Pilot Regime allows that infrastructure to run on DLT.	Shares in an unlisted AG are registered shares and, as far as the company is concerned, only the person entered in the Aktienbuch is a shareholder. A GmbH holding is transferred by notarial deed. The FlexCo allows enterprise value shares, below 25% of capital, transferred in writing and recorded in its Anteilsbuch.	If it is not issued as a transferable security, the KMG treats it as a Veranlagung: a property right in capital pooled from several investors and managed by someone else. Below €2M it needs no prospectus; above that, the KMG requires its own. The FMA warns that standardizing it and making it transferable can turn it into a security.

Regulation

Which regulation applies to tokenization in Austria?

Regulation guide for Austria

It depends on the right the token represents. If it is a financial instrument, such as a bond or a share, it falls outside MiCA and follows the EU Prospectus Regulation and the Capital Markets Act 2019 (KMG), with the FMA as supervisor. If not, it may fall under MiCA, which Austria applies through the MiCA-VVG; a right not issued as a security may also be a Veranlagung under the KMG.

The KMG sets the scale for public offers of securities: below €2M over 12 months there is no prospectus; up to €12M a simplified prospectus approved by the FMA is enough; above that, the EU prospectus applies. An authorized crowdfunding platform also allows up to €5M per project owner over 12 months.

The FMA warns that standardizing an economic right and making it easier to transfer can turn it into a transferable security, so the classification is reviewed against the token's final design. Its sandbox scopes tests but does not suspend the law. We design the structure with the law firm, and authorized entities provide the regulated services.

Austria

FavourableScore95

Authorities: Austrian Financial Market Authority, FMA
Latest regulatory change: Dec 2025

Key authorisations

CASP authorisation or Article 60 notification where applicable
MiCA passporting for authorised services
ART or EMT issuance entitlement according to category
Investment or crowdfunding permissions depending on the instrument

Our legal partners

Methodology

How we tokenize an asset in Austria, step by step

The four phases of our methodology, with the parties involved in Austria. The law firm and our engineering team work in parallel from the asset review to investor acquisition.

We review the asset's title, encumbrances and cash flows, and decide with the issuer whether the token will be debt, shares or a revenue right. That sets the vehicle, an AG, a GmbH or a FlexCo, the amount and the rules of the issuance.
The law firm classifies the token as a security, a Veranlagung or a crypto-asset, drafts the terms and chooses the route: an offer without a prospectus, a simplified prospectus approved by the FMA, an EU prospectus or a crowdfunding platform.
We configure the white label platform with your brand: investor onboarding with KYC, signature, payment and ERC-3643 tokens carrying the offer's rules. The Aktienbuch or Anteilsbuch connection and coupon or dividend schedules are custom development.
With the issuer and, where there is one, the placing entity, we prepare the offer page and measure the journey to a paid subscription. After the issuance, the platform handles distributions, transfers between verified investors and reporting.

Issuance structure of a residential complex in Excel for an asset tokenization project

Word legal opinion classifying the tokens in an asset tokenization, with the law firm's tracked changes

Go-to-market funnel of an asset tokenization issuance in PostHog, from visit to paid subscription

Reviews in Austria

What do our clients think of Metlabs?

“One of the pioneering firms in web3 solutions, digital assets and tokenization, recognized for its innovation and solid reputation across Spain and Latin America.”

Jorge CorredorLawyer, Rincón Cuéllar & Asociados

“We structured the tokenization of real estate projects with them, and I value the team's ability to understand our corporate needs and genuinely solve them.”

Joan MejíaManager, GLOBYNE

“They advised us on the feasibility of tokenizing real estate assets in Uruguay with direct, cordial treatment. A professional team, responsive and always available.”

Álvaro Silva SantamaríaCEO, Sp Inmuebles

“Great professionals at structuring tokenized projects, with technical command and attention to detail that inspire full confidence at every stage of the work.”

Francisco BetancourtVerified Google review

“As a blockchain lawyer, I value their experience and professionalism in consulting and executing tokenization projects. Technology partners you can fully trust.”

Vanessa RivasBlockchain lawyer, El Salvador

“Great professionals, very attentive to their clients and always mindful of every detail. Working with their team has been a genuine pleasure from start to finish.”

CriptorentVerified Google review

“A very professional yet approachable company that empathizes with your doubts and needs. Highly recommended for entrepreneurs with a tokenization project.”

Javier EspasaTokenization entrepreneur

“Exceptional in every sense. From legal support I value their rigor and transparency: working with Metlabs means professionalism, innovation and security.”

Pedro A. Agúndez MéndezGoogle Local Guide

“Excellent service across blockchain development, asset tokenization and consulting. A very professional team that I recommend wholeheartedly, without reservation.”

José Luis DíazVerified Google review

“I have worked with them on several projects and they are very professional. A guarantee that everything turns out perfectly. Without a doubt, 100% recommended.”

Ignacio Fernández JiménezVerified Google review

“One of the pioneering firms in web3 solutions, digital assets and tokenization, recognized for its innovation and solid reputation across Spain and Latin America.”

Jorge CorredorLawyer, Rincón Cuéllar & Asociados

“Great professionals at structuring tokenized projects, with technical command and attention to detail that inspire full confidence at every stage of the work.”

Francisco BetancourtVerified Google review

“A very professional yet approachable company that empathizes with your doubts and needs. Highly recommended for entrepreneurs with a tokenization project.”

Javier EspasaTokenization entrepreneur

“I have worked with them on several projects and they are very professional. A guarantee that everything turns out perfectly. Without a doubt, 100% recommended.”

Ignacio Fernández JiménezVerified Google review

“We structured the tokenization of real estate projects with them, and I value the team's ability to understand our corporate needs and genuinely solve them.”

Joan MejíaManager, GLOBYNE

“As a blockchain lawyer, I value their experience and professionalism in consulting and executing tokenization projects. Technology partners you can fully trust.”

Vanessa RivasBlockchain lawyer, El Salvador

“Exceptional in every sense. From legal support I value their rigor and transparency: working with Metlabs means professionalism, innovation and security.”

Pedro A. Agúndez MéndezGoogle Local Guide

“They advised us on the feasibility of tokenizing real estate assets in Uruguay with direct, cordial treatment. A professional team, responsive and always available.”

Álvaro Silva SantamaríaCEO, Sp Inmuebles

“Great professionals, very attentive to their clients and always mindful of every detail. Working with their team has been a genuine pleasure from start to finish.”

CriptorentVerified Google review

“Excellent service across blockchain development, asset tokenization and consulting. A very professional team that I recommend wholeheartedly, without reservation.”

José Luis DíazVerified Google review

Platform

What does our white label tokenization platform include in Austria?

The investor portal, ERC-3643 tokens and issuer console, under your brand. Out of the box it handles onboarding, signing, payment and distributions; anything else your issuance needs, such as a local payment method or a connection to your bank or custodian, we build on the same platform.

Request a demo

White label tokenization platform in Austria on a laptop and phone, with a residential building in Vienna

Your brand and domainYour visual identity and legal notices across the investor portal.
Investor onboardingSign-up, KYC with Personalausweis or passport, KYB, FM-GwG checks and a custodial wallet.
End-to-end investmentE-signature and payment in euros by SEPA transfer or with stablecoin (USDC/EURC).
ERC-3643 tokensEach token is issued with the rules of the offer under the KMG 2019 or MiCA.
Issuer consoleProjects, investors, euro reconciliation, coupon and dividend payments, and reporting.
Compliance and audit trailKYC and FM-GwG file for each investor, and an exportable audit log.

Institutional custody, integrated

We integrate custody and key management providers through their APIs, including Fireblocks, BitGo, Coinbase Prime, Anchorage Digital, Copper and Ledger Enterprise. Depending on the provider and model, keys are managed with MPC or multisig so that none depends on a single device. If the token is a security, custody on behalf of clients is provided by an authorized entity.

FAQ

Frequently asked questions about tokenization in Austria

What we are asked before a project starts.

Talk to our team

Is asset tokenization legal in Austria?
Yes. There is no specific law on DLT securities, but a token can represent a bond, a share or a revenue right: general securities and company law apply and, for crypto-assets that are not financial instruments, MiCA. What requires FMA authorization is the activity: placing, holding in custody or trading.
Can an Austrian GmbH be tokenized?
Its ordinary holdings are transferred by notarial deed, so the token cannot transfer them on its own. The alternative is the FlexCo, in force since 2024: it allows enterprise value shares, below 25% of capital, transferred in writing and recorded in its Anteilsbuch. Another route is converting into an AG.
How much can be raised without a prospectus in Austria?
Below €2 million over 12 months, an offer of securities needs no prospectus. Up to €12 million a simplified prospectus approved by the FMA is enough, and above that the EU prospectus is required. A crowdfunding platform allows up to €5 million per project owner. The law firm confirms it for each offer.
Does the token give ownership of the property?
Not by itself. The token represents a right against the issuer: a bond, a share in the owning company or a right to its rents. Ownership stays recorded in the Grundbuch, the land register kept by the district courts, and representing a property's cash flows does not make the investor a co-owner.

Asset tokenization

Assets we tokenize in Austria.

Real estate

Shares or debt of the vehicle that owns a property, or a right to its rental income, with the register of holders updated on every transfer.

Energy

Funding for renewable plants, management of energy attribute certificates or output sharing in an energy community, each use under its own rules.

Financial assets

Issuance and lifecycle of tokenized securities. Investor identity, payments and corporate actions live on the same infrastructure.

Carbon credits

Rights over credits identified by project, methodology and vintage, with retirement reconciled in the registry where the program permits tokenization.