Trade Republic Opens Vienna Office — Automatic KESt Withholding from September
The Berlin neobroker runs its first office outside Germany. 35 positions, automatic Austrian capital gains tax withholding from 1 September.
Trade Republic Bank GmbH announced the opening of a local office in Vienna's Mariahilf district on Monday morning, 25 May 2026. It is the first physical branch of the Berlin-based neobroker outside Germany. The site at Mariahilfer Strasse 116 is due to be fully operational by end-Q3 2026 and will, according to the company, employ 35 staff, including dedicated compliance and KESt service teams.
What was announced
Trade Republic justifies the move by the size of its Austrian customer base, which has grown to around 470,000 active accounts since the 2020 market launch. That places the provider, on industry estimates, just behind Bitpanda and ahead of Flatex Austria in retail. Co-CEO Christian Hecker said in the press release that a local presence allowed the company to "address FMA regulatory expectations and Austrian tax specifics more systematically".
In concrete terms, several changes for existing customers are planned. First, the manual KESt deduction process will become fully automated from 1 September 2026. Until now, Austrian investors had to declare the 27.5% capital gains tax themselves through the annual tax return. Second, the company is opening up savings plans on ATX single stocks, previously only technically available via the Xetra-Frankfurt link. Third, Vienna-based customer support launches with German-speaking staff between 8 a.m. and 8 p.m.
What it means
For the estimated 470,000 Austrian accounts, automatic KESt handling is the most practically important change. The annual self-declaration via FinanzOnline frequently fails on documentation gaps — penalty surcharges from the tax authority range from EUR 50 to several hundred per case. With automation, Trade Republic catches up with Erste Bank, Bitpanda and Flatex Austria, all of which already offer the service.
Competitively, pressure on established providers intensifies. Trade Republic charges EUR 1 per securities order and pays 2.75% interest on call deposits up to EUR 50,000. Erste Bank charges EUR 5-14 per order depending on tariff; Raiffeisen sits in similar territory. Bitpanda cut its Stocks order fee to EUR 0.99 in early May, in a visible response to the competition.
Strategically, the Vienna office is the first concrete step in an announced internationalisation. Industry insiders expect offices in Madrid and Milan by mid-2027. Anyone tracking Trade Republic Bank GmbH or a potential IPO — repeatedly discussed but not formally flagged — should watch the Vienna office's economics over the next four quarters.
What happens next
The FMA approved the branch under the existing EU passporting licence. Trade Republic is not applying for a full Austrian banking licence. Customer deposits continue to sit with the German Trade Republic Bank GmbH under German deposit insurance, up to EUR 100,000 per customer.
The official site opening is set for 15 September 2026. By then, the KESt automation and ATX savings plans should be technically live. The company is planning a Vienna roadshow date for institutional investors and media in the autumn. The next quarterly update is scheduled for early August 2026.
Sources: Trade Republic press release, 25 May 2026 · FMA register of EU passporting providers · Federal Gazette: Trade Republic Bank GmbH